Pagaya Technologies (PGY) Operating Expenses (2022 - 2026)
Pagaya Technologies' Operating Expenses came in at $281.24 million for Q2 2026, up 4.2% from $269.93 million a year earlier and up 18.2% from the prior quarter.
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Analysis
Pagaya Technologies (PGY) Operating Expenses (2022 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Pagaya Technologies reported Operating Expenses of $1.04 billion, up 5.0% year-over-year; for FY2025, it was $1.04 billion, up 7.5% from FY2024.
- Operating Expenses carries a five-year compound annual growth rate of 67.9% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $965.41 million in FY2024 (+15.4%), $836.45 million in FY2023 (-16.4%), $1 billion in FY2022 (+108.3%) and $480.4 million in FY2021 (+517.8%).
- The Q2 2026 figure represents the highest quarterly Operating Expenses since Q2 2022.
- Year-over-year, Operating Expenses increased in seven of the last eight quarters, with growth averaging 7.9%.
- The fastest year-over-year change in Operating Expenses over five years came in Q4 2024 (growth of 19.4%), and the weakest in Q2 2023 (a decline of 38.0%).
- Business Quant data shows PGY's Operating Expenses at $237.94 million (Q1 2026), $255.09 million (Q4 2025) and $270.21 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 50.12 Bn | 6.93 Bn | - | 1.33 Bn |
| 2 | PayPal Holdings | 46.45 Bn | 4.68 Bn | - | 7.26 Bn |
| 3 | Block | 44.49 Bn | 15.75 Bn | 3.17 Bn | 2.72 Bn |
| 4 | Iren | 31.49 Bn | 19.08 Bn | 103.89 Mn | 128.25 Mn |
| 5 | Corpay | 25.78 Bn | 15.98 Bn | - | 260.40 Mn |
| 6 | Fiserv | 24.12 Bn | 20.82 Bn | 2.90 Bn | 4.28 Bn |
| 7 | Global Payments | 22.15 Bn | 588.57 Mn | 2.03 Bn | 2.98 Bn |
| 8 | Bitmine Immersion Technologies | 15.50 Bn | 12.88 Bn | 40.81 Mn | 52.67 Mn |
| 9 | Guidewire Software | 11.68 Bn | 8.25 Bn | 269.68 Mn | 207.36 Mn |
| 10 | Pagaya Technologies | 1.45 Bn | 481.46 Mn | 168.33 Mn | 281.24 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 281.24 Mn |
| Mar 31, 2026 | 237.94 Mn |
| Dec 31, 2025 | 255.09 Mn |
| Sep 30, 2025 | 270.21 Mn |
| Jun 30, 2025 | 269.93 Mn |
| Mar 31, 2025 | 242.30 Mn |
| Dec 31, 2024 | 247.66 Mn |
| Sep 30, 2024 | 234.85 Mn |
| Jun 30, 2024 | 245.32 Mn |
| Mar 31, 2024 | 237.59 Mn |
| Dec 31, 2023 | 207.39 Mn |
| Sep 30, 2023 | 211.60 Mn |
| Jun 30, 2023 | 205.85 Mn |
| Mar 31, 2023 | 211.61 Mn |
| Jun 30, 2022 | 332.17 Mn |
API Access
Pagaya Technologies Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=PGY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "PGY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=PGY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();