Pagaya Technologies (PGY) Cost of Revenue (2023 - 2026)

Pagaya Technologies has disclosed Cost of Revenue across 4 years of filings, most recently posting $177.6 million for Q1 2026.

• For the quarter ending Q1 2026, Cost of Revenue rose 1750.75% year-over-year to $177.6 million; the trailing twelve-month figure through Mar 2026 stood at $1.1 billion (up 229.89% YoY), and the FY2025 full-year result was $749.2 million, up 25.35% from the prior year.
• Cost of Revenue was $177.6 million for Q1 2026 at Pagaya Technologies, down from $705.5 million in the prior quarter.
• Over five years, Cost of Revenue peaked at $705.5 million in Q4 2025 and troughed at $9.6 million in Q1 2025.
• The 4-year median for Cost of Revenue is $125.1 million (2023), against an average of $157.6 million.
• Year-over-year, Cost of Revenue slumped 91.8% in 2024 and jumped 1750.75% in 2026.
• Year by year, Cost of Revenue stood at $468.7 million in 2023, then tumbled by 66.25% to $158.2 million in 2024, then surged by 345.92% to $705.5 million in 2025, then plunged by 74.83% to $177.6 million in 2026.
• Per Business Quant, the three latest PGY Cost of Revenue figures stand at $177.6 million (Q1 2026), $705.5 million (Q4 2025), and $14.5 million (Q3 2025).