Pagaya Technologies (PGY) Cost of Revenue (2022 - 2026)

Pagaya Technologies (PGY) has reported Cost of Revenue for 5 consecutive years, with $177.6 million the latest figure, recorded in Q1 2026.

• Quarterly Cost of Revenue rose 6.27% year-over-year to $177.6 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $759.6 million (up 22.55% YoY) and the FY2025 annual result came in at $749.2 million, up 25.35% from the prior year.
• Cost of Revenue declined to $177.6 million in Q1 2026 per PGY's latest filing, from $190.0 million in the prior quarter.
• Over the last five years, Cost of Revenue for PGY reached as high as $200.6 million in Q3 2025 and fell as low as $105.0 million in Q2 2022.
• A 5-year average of $152.7 million and a median of $147.3 million in 2024 frame the typical range for Cost of Revenue.
• Annual changes were most pronounced in 2025 — Cost of Revenue jumped 34.65% — and 2026, when it climbed 6.27%.
• Year by year, Cost of Revenue stood at $105.0 million in 2022, then rose by 28.1% to $134.5 million in 2023, then advanced by 17.64% to $158.2 million in 2024, then rose by 20.13% to $190.0 million in 2025, then retreated by 6.57% to $177.6 million in 2026.
• According to Business Quant data, Cost of Revenue over the past three periods registered $177.6 million, $190.0 million, and $200.6 million for Q1 2026, Q4 2025, and Q3 2025 respectively.