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Pagaya Technologies PGY Q2 2025 earnings

Reported August 7, 2025 · Before market open

Revenue$317.7MMiss by $21.2M
EPS$0.64Miss by $0.05
Revenue estimate$338.9M
EPS estimate$0.69

Next report

Nov 9, 2026 (in 2 months)
Revenue estimate$383.0M
EPS estimate$0.97

Financials

Q2 2025

Income statement

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Revenue$326.4M+30.4%
Gross profit$134.9M+28.8%
Operating income$56.5M+1,023%
Net income$16.7M+122%
EPS (diluted)$0.20+119%

Balance sheet

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Cash & equivalents$242.0M-9.7%
Total debt$332.9M+19.5%
Total equity$366.8M-30.3%
Total assets$1.4B-3.7%

Cash flow

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Operating cash flow$57.4M+517%
CapEx$3.8M-13.2%
Free cash flow$53.6M+990%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$1.51B+67.0%
Enterprise value$1.6B+75.0%
P/S1.3×+0.3×

Profitability

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Gross margin42.3%+2.1pp
Operating margin13.7%—
Net margin-24.4%+58.3pp

Returns & leverage

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Return on equity-62.9%-131pp
Debt / equity0.9×+0.4×
Current ratio1.4×-0.1×

Segments

By geography

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United States$315.3M+25.6%
Cayman-—
Israel-—

By product

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Network AI Fees$285.9M+28.9%
Financial Service$31.8M+52.9%

FAQ

When did Pagaya Technologies report Q2 2025 earnings?
Pagaya Technologies (PGY) reported Q2 2025 earnings on August 7, 2025 before market open.
What were Pagaya Technologies's Q2 2025 revenue and EPS?
Pagaya Technologies reported revenue of $317.7M and eps of $0.64 for Q2 2025.
Did Pagaya Technologies beat estimates in Q2 2025?
Revenue missed the consensus estimate of $338.9M by $21.2M. EPS missed the consensus estimate of $0.69 by $0.05.
How did Pagaya Technologies's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 31.0% from $242.6M a year earlier and eps grew 540.0% from $0.10.
Where can I find Pagaya Technologies's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001883085-25-000166) and the 10-Q periodic report (0001883085-25-000169) directly on SEC EDGAR. The filing index links above go to sec.gov.