Pagaya Technologies (PGY) Cost of Revenue (2022 - 2026)
Pagaya Technologies (PGY) posted quarterly Cost of Revenue of $218.7 million for Q2 2026, up 14.23% year-over-year from $191.5 million in Q2 2025, and up 23.18% quarter-over-quarter from $177.6 million in Q1 2026.
Pagaya Technologies (PGY) Cost of Revenue (2022 - 2026) Analysis & Trends
Pagaya Technologies (PGY) has reported Cost of Revenue for 5 consecutive years, with $218.7 million the latest figure, recorded in Q2 2026.
- In Q2 2026, Cost of Revenue rose 14.23% year-over-year to $218.7 million; the TTM figure through Jun 2026 stood at $786.9 million (up 18.2% YoY), while the FY2025 annual figure was $749.2 million, up 25.35% from the prior year.
- Cost of Revenue climbed to $218.7 million in Q2 2026 per PGY's latest filing, from $177.6 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $218.7 million in Q2 2026 and bottomed at $105.0 million in Q2 2022.
- Historically, Cost of Revenue has averaged $157.1 million across 5 years, with a median of $149.0 million in 2024.
- Annual changes were most pronounced in 2025 — Cost of Revenue surged 34.65% — and 2026, when it gained 6.27%.
- Pagaya Technologies' Cost of Revenue stood at $105.0 million in 2022, then climbed by 28.1% to $134.5 million in 2023, then increased by 17.64% to $158.2 million in 2024, then climbed by 20.13% to $190.0 million in 2025, then advanced by 15.08% to $218.7 million in 2026.
- Business Quant data shows PGY's Cost of Revenue at $218.7 million in Q2 2026, $177.6 million in Q1 2026, and $190.0 million in Q4 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 29.53 Bn |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 296.87 Mn |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | - |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 974.00 Mn |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 404.70 Mn |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 196.54 Mn |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 637.38 Mn |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | 879.00 Mn |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 3.45 Bn |
| 10 | Pagaya Technologies | 1.70 Bn | 1.45 Bn | 168.33 Mn | 218.72 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 218.72 Mn |
| Jun 30, 2026 | 218.72 Mn |
| Mar 31, 2026 | 177.56 Mn |
| Mar 31, 2026 | 177.56 Mn |
| Dec 31, 2025 | 190.05 Mn |
| Dec 31, 2025 | 190.05 Mn |
| Sep 30, 2025 | 200.57 Mn |
| Sep 30, 2025 | 200.57 Mn |
| Jun 30, 2025 | 191.47 Mn |
| Jun 30, 2025 | 191.47 Mn |
| Mar 31, 2025 | 167.08 Mn |
| Mar 31, 2025 | 167.08 Mn |
| Dec 31, 2024 | 158.20 Mn |
| Dec 31, 2024 | 158.20 Mn |
| Sep 30, 2024 | 148.97 Mn |
| Sep 30, 2024 | 148.97 Mn |
| Jun 30, 2024 | 145.60 Mn |
| Jun 30, 2024 | 145.60 Mn |
| Mar 31, 2024 | 144.88 Mn |
| Mar 31, 2024 | 144.88 Mn |