Growth Metrics

Pagaya Technologies (PGY) Cost of Revenue (2023 - 2025)

Pagaya Technologies (PGY) has disclosed Cost of Revenue for 3 consecutive years, with $190.0 million as the latest value for Q4 2025.

  • Quarterly Cost of Revenue fell 66.22% to $190.0 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $577.4 million through Dec 2025, down 21.15% year-over-year, with the annual reading at $749.2 million for FY2025, 25.35% up from the prior year.
  • Cost of Revenue for Q4 2025 was $190.0 million at Pagaya Technologies, down from $200.6 million in the prior quarter.
  • The five-year high for Cost of Revenue was $562.6 million in Q4 2024, with the low at -$324.7 million in Q4 2023.
  • Average Cost of Revenue over 3 years is $85.4 million, with a median of $17.1 million recorded in 2023.
  • Peak annual rise in Cost of Revenue hit 1653.27% in 2025, while the deepest fall reached 66.22% in 2025.
  • Over 3 years, Cost of Revenue stood at -$324.7 million in 2023, then surged by 273.28% to $562.6 million in 2024, then plummeted by 66.22% to $190.0 million in 2025.
  • According to Business Quant data, Cost of Revenue over the past three periods came in at $190.0 million, $200.6 million, and $19.7 million for Q4 2025, Q3 2025, and Q2 2025 respectively.