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Pagaya Technologies PGY Stock-based compensation included in capitalized internal-use software

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Other financials

Income statement

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Revenue$317.9M+9.6%
Gross profit$140.4M+14.2%
Operating income$80.0M+67.8%
Net income$24.7M+213%
EPS (diluted)$0.28+180%

Balance sheet

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Cash & equivalents$380.0M+65.5%
Total debt$507.6M+43.8%
Total equity$529.3M+57.8%
Total assets$1.6B+29.0%

Cash flow

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Operating cash flow$43.2M+25.4%
CapEx$3.2M-15.9%
Free cash flow$40.0M+30.5%

Valuation

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Market cap$1.78B-17.6%
Enterprise value$1.9B-15.2%
P/E18.1×
P/S1.3×-0.5×

Profitability

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Gross margin42.9%+0.4pp
Operating margin22.3%+12.4pp
Net margin7.4%+4.0pp
FCF margin17.6%

Returns & leverage

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Return on equity22.7%+12.8pp
Debt / equity-0.1×
Current ratio1.4×-0.1×

Where this comes from

Reported directly by Pagaya Technologies in its filing.

Tagged under the XBRL concept pgy:StockBasedCompensationIncludedInCapitalizedInternalUseSoftware.

The source filing: Pagaya Technologies’s 10-K/A, filed June 1, 2026. Open the filing →

Filed
Jun 1, 2026, 4:27 PM EDT
Fiscal year
FY2025
Accession
0001883085-26-000036

FAQ

What is Pagaya Technologies's stock-based compensation included in capitalized internal-use software?
Pagaya Technologies (PGY) reported stock-based compensation included in capitalized internal-use software of $945K in Q4 2025.
How has Pagaya Technologies's stock-based compensation included in capitalized internal-use software changed year-over-year?
Pagaya Technologies's stock-based compensation included in capitalized internal-use software decreased by 47.1% year-over-year, from $1.79M to $945K.
What is the long-term trend for Pagaya Technologies's stock-based compensation included in capitalized internal-use software?
Over 3 years (2022 to 2025), Pagaya Technologies's stock-based compensation included in capitalized internal-use software has grown at a -25.2% compound annual growth rate (CAGR), from $9.02M to $3.78M.
What does stock-based compensation included in capitalized internal-use software mean?
Measures the portion of stock-based compensation expense that is capitalized as part of the cost of developing internal-use software rather than being expensed immediately. This metric reflects the investment in long-term technological infrastructure and the accounting treatment of human capital costs associated with software development. It helps investors understand the true underlying compensation expense versus capitalized development costs.

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