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Pagaya Technologies PGY Business Segments — Non-personnel related costs

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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$1.28B-8.3%
Enterprise value$1.41B-7.3%
P/E13.1×
P/S-0.3×

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:SegmentReportingNonPersonnelRelatedCosts.

The official record: Pagaya Technologies’s 10-K/A, filed June 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Pagaya Technologies's business segments — non-personnel related costs?
Pagaya Technologies (PGY) reported business segments — non-personnel related costs of $34.51M in Q4 2025.
How has Pagaya Technologies's business segments — non-personnel related costs changed year-over-year?
Pagaya Technologies's business segments — non-personnel related costs decreased by 28.1% year-over-year, from $48.03M to $34.51M.
What is the long-term trend for Pagaya Technologies's business segments — non-personnel related costs?
Over 3 years (2022 to 2025), Pagaya Technologies's business segments — non-personnel related costs has grown at a -8.5% compound annual growth rate (CAGR), from $180.44M to $138.05M.
What does business segments — non-personnel related costs mean?
This metric captures all operating expenses for the reportable segment excluding labor-related costs, such as technology infrastructure, data processing fees, professional services, and marketing expenditures. It reflects the non-human capital resources required to maintain the segment's proprietary AI-driven lending infrastructure and partner network. Tracking these costs provides insight into the scalability and operational leverage of the segment's business model.