Pagaya Technologies Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Transaction-Based Revenues	1,261	1,005	772.81	685.41	445.87
Net Interest Income	48.43	32.29	38.75	57.76	28.88
Net Interest Income Growth	49.99%	-16.66%	-32.91%	100.01%	312.94%
Other Revenues	-8.42	-4.59	0.49	5.76	-0.16
Revenue	1,301	1,032	812.05	748.93	474.59
Revenue Growth (YoY)	26.07%	27.12%	8.43%	57.81%	379.33%
Cost of Revenue	749.17	597.65	508.94	451.08	232.32
Gross Profit	552.19	434.6	303.11	297.84	242.26
Selling, General & Admin	213.15	291.19	253.12	398.42	181.86
Research & Development	75.21	76.57	74.38	150.93	66.21
Operating Income	263.83	66.84	-24.4	-251.51	-5.81
Total Non-Operating Income (Expense)	-212.2	-487.96	-156.77	-24.87	-55.84
Pretax Income	51.63	-421.12	-181.17	-276.37	-61.65
Provision for Income Taxes	-19.75	24.58	15.57	16.4	7.88
Net Income	81.39	-401.41	-128.44	-314.53	-134.32
Minority Interest in Earnings	-10.02	-44.29	-68.3	9.55	21.63
Net Income Attributable to Preferred Dividends	-	-	-	12.21	43.17
Net Income to Common	81.39	-401.41	-128.44	-314.53	-134.32
Shares Outstanding (Basic)	78	71	60	38	16
Shares Outstanding (Diluted)	83	71	60	38	16
Shares Change (YoY)	17.24%	18.06%	56.95%	135.03%	-5.61%
EPS (Basic)	0.99	-5.66	-2.14	-8.22	-8.25
EPS (Diluted)	0.93	-5.66	-2.14	-8.22	-8.25
Free Cash Flow	224.72	30.01	-41.85	-62.41	43.19
Free Cash Flow Growth	648.71%	-	-	-	1266.68%
Free Cash Flow Per Share	2.70	0.42	-0.70	-1.63	2.65
Gross Margin	42.43%	42.10%	37.33%	39.77%	51.05%
Operating Margin	20.27%	6.48%	-3.00%	-33.58%	-1.22%
Profit Margin	5.48%	-43.18%	-24.23%	-39.09%	-14.65%
FCF Margin	17.27%	2.91%	-5.15%	-8.33%	9.10%
EBITDA	293.9	95.59	-5.27	-245.21	-4.99
EBITDA Margin	22.58%	9.26%	-0.65%	-32.74%	-1.05%
EBIT	263.83	66.84	-24.4	-251.51	-5.81
EBIT Margin	20.27%	6.48%	-3.00%	-33.58%	-1.22%
Effective Tax Rate	-38.25%	-5.84%	-8.59%	-5.93%	-12.77%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Capital Markets template. Financial Sources.

SEC Filings: 10-K · 10-Q