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Pagaya Technologies PGY Q3 2025 earnings

Reported November 10, 2025 · Before market open

Revenue$350.2MBeat by $11.8M
EPS$0.23Beat by $0.02
Revenue estimate$338.4M
EPS estimate$0.21

Next report

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

Financials

Q3 2025

Income statement

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Revenue$350.2M+36.1%
Gross profit$149.6M+38.2%
Operating income$80.0M+257%
Net income$22.5M+133%
EPS (diluted)$0.23+125%

Balance sheet

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Cash & equivalents$264.8M+46.2%
Total debt$522.7M+98.5%
Total equity$438.3M-5.2%
Total assets$1.5B+6.2%

Cash flow

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Operating cash flow$67.0M—
CapEx$3.2M-23.5%
Free cash flow$63.8M—

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$2.27B+200%
Enterprise value$2.53B+201%
P/S1.8×+1.0×

Profitability

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Gross margin42.4%+1.5pp
Operating margin17.3%—
Net margin-15.3%-2.2pp
FCF margin13.8%—

Returns & leverage

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Return on equity-42.4%+22.9pp
Debt / equity1.2×+0.6×

Segments

By geography

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

By product

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Network AI Fees$304.6M+33.0%
Financial Service$35.3M+75.6%

FAQ

When did Pagaya Technologies report Q3 2025 earnings?
Pagaya Technologies (PGY) reported Q3 2025 earnings on November 10, 2025 before market open.
What were Pagaya Technologies's Q3 2025 revenue and EPS?
Pagaya Technologies reported revenue of $350.2M and eps of $0.23 for Q3 2025.
Did Pagaya Technologies beat estimates in Q3 2025?
Revenue beat the consensus estimate of $338.4M by $11.8M. EPS beat the consensus estimate of $0.21 by $0.02.
How did Pagaya Technologies's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 40.5% from $249.3M a year earlier and eps declined 47.7% from $0.44.
Where can I find Pagaya Technologies's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001883085-25-000191) and the 10-Q periodic report (0001883085-25-000195) directly on SEC EDGAR. The filing index links above go to sec.gov.