Pagaya Technologies annual operating expenses
2020
2021
2022
2023
2024
2025
Pagaya Technologies Operating Expenses Growth & History (PGY)
Pagaya Technologies's operating expenses was $248.3M for fiscal 2025.
View full Pagaya Technologies company overviewPagaya Technologies annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $248.3M | −$91.7M | −26.97% |
| 2024 | 2024-12-31 | $340.1M | $51.8M | +17.97% |
| 2023 | 2023-12-31 | $288.3M | −$197.6M | −40.67% |
| 2022 | 2022-12-31 | $485.8M | $266.5M | +121.49% |
| 2021 | 2021-12-31 | $219.4M | $197.9M | +924.91% |
| 2020 | 2020-12-31 | $21.4M | — | — |
Pagaya Technologies quarterly operating expenses
Q2.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $41.1M | −$28.7M | −41.06% |
| Q1 2026 | 2026-03-31 | $41.4M | −$26.5M | −39.02% |
| Q4 2025 | 2025-12-31 | $51.3M | −$34.5M | −40.19% |
| Q3 2025 | 2025-09-30 | $59.4M | −$18.6M | −23.84% |
| Q2 2025 | 2025-06-30 | $69.8M | −$22.2M | −24.12% |
| Q1 2025 | 2025-03-31 | $67.9M | −$16.5M | −19.54% |
| Q4 2024 | 2024-12-31 | $85.7M | $20.4M | +31.29% |
| Q3 2024 | 2024-09-30 | $77.9M | $5.4M | +7.51% |
| Q2 2024 | 2024-06-30 | $92.0M | $16.7M | +22.12% |
| Q1 2024 | 2024-03-31 | $84.4M | $9.3M | +12.32% |
| Q4 2023 | 2023-12-31 | $65.3M | — | — |
| Q3 2023 | 2023-09-30 | $72.5M | — | — |
| Q2 2023 | 2023-06-30 | $75.3M | −$133.6M | −63.96% |
| Q1 2023 | 2023-03-31 | $75.2M | — | — |
| Q2 2022 | 2022-06-30 | $208.9M | — | — |
Pagaya Technologies operating expenses trends
Over the last five fiscal years, Pagaya Technologies's operating expenses increased from $21.4M to $248.3M, a change of $226.9M. The latest reported quarter, Q2 2026, shows $41.1M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Pagaya Technologies source filings ↗