Pagaya Technologies Ltd.
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 10, 2025
PGY$18.19+3.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands, except share and per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | ||||
| Revenue from fees (1) | $339,887 | $249,283 | $940,305 | $728,881 |
| Other Income | ||||
| Interest income | 14,918 | 8,735 | 33,333 | 24,672 |
| Investment loss, net | (4,640) | (784) | (7,086) | (699) |
| Total Revenue and Other Income | 350,165 | 257,234 | 966,552 | 752,854 |
| Production costs | 200,574 | 148,965 | 559,122 | 439,448 |
| Technology, data and product development | 18,236 | 16,655 | 56,135 | 57,970 |
| Sales and marketing | 14,453 | 11,440 | 43,707 | 35,028 |
| General and administrative | 36,944 | 57,790 | 123,476 | 185,307 |
| Total Costs and Operating Expenses | 270,207 | 234,850 | 782,440 | 717,753 |
| Operating Income | 79,958 | 22,384 | 184,112 | 35,101 |
| Gains and (losses) on investments in loans and securities | (19,557) | (77,594) | (62,832) | (154,001) |
| Other expenses, net | (27,377) | (30,345) | (66,267) | (61,481) |
| Loss from extinguishment of debt | (24,961) | (200) | (25,457) | (200) |
| Income (Loss) Before Income Taxes | 8,063 | (85,755) | 29,556 | (180,581) |
| Income tax (benefit) expense | (15,210) | (11,524) | (12,772) | 7,991 |
| Net Income (Loss) Including Noncontrolling Interests | 23,273 | (74,231) | 42,328 | (188,572) |
| Less: Net income (loss) attributable to noncontrolling interests | 728 | (6,755) | (4,765) | (25,088) |
| Net Income (Loss) Attributable to Pagaya Technologies Ltd. | $22,545 | $(67,476) | $47,093 | $(163,484) |
| Per share data: | ||||
| Net income (loss) attributable to Pagaya Technologies Ltd. | $22,545 | $(67,476) | $47,093 | $(163,484) |
| Less: Undistributed earnings allocated to preferred shares | 1,259 | — | 2,804 | — |
| Net income (loss) attributed to Pagaya Technologies Ltd.’s ordinary shares | $21,286 | $(67,476) | $44,289 | $(163,484) |
| Earnings (loss) per share attributable to Pagaya Technologies Ltd.: | ||||
| Basic | $0.27 | $(0.93) | $0.57 | $(2.35) |
| Diluted | $0.23 | $(0.93) | $0.55 | $(2.35) |
| Weighted average shares outstanding: | ||||
| Basic | 78,539,137 | 72,728,667 | 77,086,125 | 69,619,813 |
| Diluted | 91,046,530 | 72,728,667 | 80,945,983 | 69,619,813 |
(1)See Note 9 for additional information regarding the transactions with related parties.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.