Pagaya Technologies (PGY) Gross Margin (2022 - 2026)
Pagaya Technologies (PGY) posted quarterly Gross Margin of 43.49% for Q2 2026, up 215.0% year-over-year from 13.81% in Q2 2025, and down 1.5% quarter-over-quarter from 44.15% in Q1 2026.
Pagaya Technologies (PGY) Gross Margin (2022 - 2026) Analysis & Trends
Pagaya Technologies (PGY) has reported Gross Margin for 5 consecutive years, with 43.49% the latest figure, recorded in Q2 2026.
- In Q2 2026, Gross Margin rose 215.0% year-over-year to 43.49%; the TTM figure through Jun 2026 stood at 43.39% (up 112.0% YoY), while the FY2025 annual figure was 42.43%, up 33.0% from the prior year.
- Gross Margin slipped to 43.49% in Q2 2026 per PGY's latest filing, from 44.15% in the prior quarter.
- Across five years, Gross Margin topped out at 44.15% in Q1 2026 and bottomed at 32.99% in Q1 2023.
- Historically, Gross Margin has averaged 41.1% across 5 years, with a median of 42.09% in 2024.
- Annual changes were most pronounced in 2023 — Gross Margin sank 383 bps — and 2024, when it jumped 794 bps.
- Pagaya Technologies' Gross Margin stood at 42.18% in 2022, then retreated by 9 bps to 38.32% in 2023, then gained by 13 bps to 43.38% in 2024, then fell by 0 bps to 43.24% in 2025, then gained by 1 bps to 43.49% in 2026.
- Business Quant data shows PGY's Gross Margin at 43.49% in Q2 2026, 44.15% in Q1 2026, and 43.24% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 67.20% |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 84.66% |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | - |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 67.55% |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 80.24% |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 71.76% |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 73.54% |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | 65.86% |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 47.84% |
| 10 | Pagaya Technologies | 1.70 Bn | 1.45 Bn | 168.33 Mn | 43.49% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 43.49% |
| Mar 31, 2026 | 44.15% |
| Dec 31, 2025 | 43.24% |
| Sep 30, 2025 | 42.72% |
| Jun 30, 2025 | 41.34% |
| Mar 31, 2025 | 42.38% |
| Dec 31, 2024 | 43.38% |
| Sep 30, 2024 | 42.09% |
| Jun 30, 2024 | 41.84% |
| Mar 31, 2024 | 40.93% |
| Dec 31, 2023 | 38.32% |
| Sep 30, 2023 | 39.18% |
| Jun 30, 2023 | 38.34% |
| Mar 31, 2023 | 32.99% |
| Jun 30, 2022 | 42.18% |