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Pagaya Technologies Ltd. (PGY) reported a year-over-year network volume growth of 10.5% for the nine months ending September 30, 2025. The company expects a total network volume of $10.5-$10.75 billion for the full year 2025, driven by diversification into auto lending and point-of-sale financing.
Revenue growth was notable, with total revenues and other income increasing by 28.4% year-over-year in the same period, thanks to a 26.7% rise in network AI fees and higher interest income. Despite economic challenges, Pagaya continues to improve its credit trends and diversify funding sources.
Investors have responded positively, with PGY stock rising by 132.8% this year, outperforming the industry average decline of 10.1%. The Zacks Consensus Estimate for PGY’s earnings projects a growth of 273.5% for 2025, and the stock currently trades at a 12-month forward price-to-sales ratio of 1.13, below the industry average of 2.92.
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