Pagaya Technologies Ltd.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $1.3B | $1.0B | $812.1M | $748.9M | $474.6M |
| Research and development | $75.2M | $76.6M | $74.4M | $150.9M | $66.2M |
| Operating income | $263.8M | $66.8M | -$24.4M | -$251.5M | -$5.8M |
| Pretax income | $51.6M | -$421.1M | -$181.2M | -$276.4M | -$61.6M |
| Income tax expense | -$19.7M | $24.6M | $15.6M | $16.4M | $7.9M |
| Net income | $81.4M | -$401.4M | -$128.4M | -$302.3M | -$91.2M |
| Balance Sheet | |||||
| Cash and equivalents | $235.3M | $187.9M | $186.5M | $309.8M | $190.8M |
| Current assets | — | $351.5M | $303.4M | $419.8M | — |
| Total assets | $1.5B | $1.3B | $1.2B | $1.0B | — |
| Current liabilities | — | $195.5M | $74.9M | $128.0M | — |
| Total liabilities | $960.5M | $775.3M | $468.4M | $279.7M | — |
| Total debt | — | $341.0M | — | — | — |
| Stockholders' equity | $480.0M | $326.5M | $559.7M | $553.5M | $177.4M |
| Cash Flow Statement | |||||
| Cash from operations | $238.6M | $47.8M | -$21.7M | -$40.0M | $49.8M |
| Depreciation and amortization | $30.1M | $28.8M | $19.1M | $6.3M | $815,000 |
| Stock-based compensation | $54.1M | $61.5M | $71.1M | $241.7M | $67.8M |
| Capital expenditure | $13.9M | $17.7M | $20.2M | $22.4M | $6.6M |
| Free cash flow | $224.7M | $30.0M | -$41.8M | -$62.4M | $43.2M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 82.9M · Free float 56.5%
Annual filing data through FY ended December 31, 2025; float as of July 4, 2026.