Pagaya Technologies (PGY) Research & Development (2022 - 2026)
Pagaya Technologies (PGY) posted quarterly Research & Development of $17.3 million for Q2 2026, down 11.76% year-over-year from $19.7 million in Q2 2025, and up 8.83% quarter-over-quarter from $15.9 million in Q1 2026.
Pagaya Technologies (PGY) Research & Development (2022 - 2026) Analysis & Trends
Pagaya Technologies (PGY) has reported Research & Development for 5 consecutive years, with $17.3 million the latest figure, recorded in Q2 2026.
- In Q2 2026, Research & Development fell 11.76% year-over-year to $17.3 million; the TTM figure through Jun 2026 stood at $70.6 million (down 5.05% YoY), while the FY2025 annual figure was $75.2 million, down 1.77% from the prior year.
- Research & Development grew to $17.3 million in Q2 2026 per PGY's latest filing, from $15.9 million in the prior quarter.
- Across five years, Research & Development topped out at $65.1 million in Q2 2022 and bottomed at $15.9 million in Q1 2026.
- Historically, Research & Development has averaged $21.7 million across 5 years, with a median of $18.6 million in 2024.
- Annual changes were most pronounced in 2023 — Research & Development tumbled 72.87% — and 2024, when it grew 24.19%.
- Pagaya Technologies' Research & Development stood at $65.1 million in 2022, then slumped by 73.05% to $17.6 million in 2023, then rose by 5.99% to $18.6 million in 2024, then climbed by 2.56% to $19.1 million in 2025, then declined by 9.07% to $17.3 million in 2026.
- Business Quant data shows PGY's Research & Development at $17.3 million in Q2 2026, $15.9 million in Q1 2026, and $19.1 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 10.00 Bn |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 339.50 Mn |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | 4.01 Bn |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 1.16 Bn |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 669.10 Mn |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 276.12 Mn |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 396.38 Mn |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | 60.00 Mn |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 664.96 Mn |
| 10 | Pagaya Technologies | 1.70 Bn | 1.45 Bn | 168.33 Mn | 17.35 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 17.35 Mn |
| Mar 31, 2026 | 15.94 Mn |
| Dec 31, 2025 | 19.08 Mn |
| Sep 30, 2025 | 18.24 Mn |
| Jun 30, 2025 | 19.66 Mn |
| Mar 31, 2025 | 19.44 Mn |
| Dec 31, 2024 | 18.60 Mn |
| Sep 30, 2024 | 16.66 Mn |
| Jun 30, 2024 | 21.94 Mn |
| Mar 31, 2024 | 19.38 Mn |
| Dec 31, 2023 | 17.55 Mn |
| Sep 30, 2023 | 18.04 Mn |
| Jun 30, 2023 | 17.66 Mn |
| Mar 31, 2023 | 21.13 Mn |
| Jun 30, 2022 | 65.11 Mn |