Pagaya Technologies Ltd. Warrants (PGYWW) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PGYWW SEC filings page.
Pagaya Technologies Ltd. Warrants (PGYWW) reported $1.4B in revenue over the twelve months to Jun 30, 2026, up 20.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue scaled while costs grew slower, with profit converting into cash and limited capital reinvestment.
Revenue rose26.1% while SG&A fell26.8% , revealing a sharp change in cost structure rather than growth purchased through overhead. Gross margin moved only0.3 percentage points , while operating margin reached20.3% , pointing to operating-cost control and scale as the main source of improvement.
Operating cash flow reached
Liabilities rose
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Pagaya Technologies Ltd. Warrants's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Pagaya Technologies Ltd. Warrants has an operating margin of 20.3%, meaning the company retains $20 of operating profit per $100 of revenue. This strong profitability earns a score of 68/100, reflecting efficient cost management and pricing power. This is up from 6.5% the prior year.
Pagaya Technologies Ltd. Warrants's revenue surged 26.1% year-over-year to $1.3B, reflecting rapid business expansion. This strong growth earns a score of 87/100.
Pagaya Technologies Ltd. Warrants has a free cash flow margin of 17.3%, earning a moderate score of 61/100. The company generates positive cash flow after capital investments, but with room for improvement.
Pagaya Technologies Ltd. Warrants's ROE of 17.0% shows moderate profitability relative to equity, earning a score of 32/100. This is up from -123.0% the prior year.
Pagaya Technologies Ltd. Warrants passes 6 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), both operating efficiency signals pass.
For every $1 of reported earnings, Pagaya Technologies Ltd. Warrants generates $2.93 in operating cash flow ($238.6M OCF vs $81.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Pagaya Technologies Ltd. Warrants generated $387.0M in revenue in Q2 2026. This represents an increase of 18.6% from the same quarter a year earlier. Against the prior quarter it is up 21.7%.
Pagaya Technologies Ltd. Warrants's EBITDA was $109.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 71.3% from the same quarter a year earlier. Against the prior quarter it is up 30.8%.
Pagaya Technologies Ltd. Warrants reported $45.3M in net income in Q2 2026. This represents an increase of 171.8% from the same quarter a year earlier. Against the prior quarter it is up 83.3%.
Pagaya Technologies Ltd. Warrants earned $0.49 per diluted share (EPS) in Q2 2026. This represents an increase of 145.0% from the same quarter a year earlier. Against the prior quarter it is up 75.0%.
Cash & Balance Sheet
Pagaya Technologies Ltd. Warrants generated $71.3M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 33.1% from the same quarter a year earlier. Against the prior quarter it is up 78.1%.
Pagaya Technologies Ltd. Warrants held $249.3M in cash as of Q2 2026; no long-term debt figure is on record for that period.
Not reported for Q2 2026.
Margins & Returns
Pagaya Technologies Ltd. Warrants's gross margin was 43.5% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 2.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.7 percentage points.
Pagaya Technologies Ltd. Warrants's operating margin was 27.3% in Q2 2026, reflecting core business profitability. This is up 10.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.2 percentage points.
Pagaya Technologies Ltd. Warrants's net profit margin was 11.7% in Q2 2026, showing the share of revenue converted to profit. This is up 6.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.9 percentage points.
Pagaya Technologies Ltd. Warrants's quarterly ROE was 7.6% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is up 3.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.0 percentage points.
Capital Allocation
Pagaya Technologies Ltd. Warrants invested $17.3M in research and development in Q2 2026. This represents a decrease of 6.0% from the same quarter a year earlier. Against the prior quarter it is up 8.8%.
Pagaya Technologies Ltd. Warrants invested $3.4M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 9.2% from the same quarter a year earlier. Against the prior quarter it is up 8.6%.
Not reported for Q2 2026.
PGYWW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K/A | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $387.0M+18.6% | $317.9M+9.6% | $334.8M+19.8% | $350.2M+36.1% | $326.4M+30.4% | $290.0M+18.2% | $279.4M+28.1% | $257.2M+21.5% |
| Cost of Revenue | $218.7M+14.2% | $177.6M+6.3% | $190.0M+20.1% | $200.6M+34.6% | $191.5M+31.5% | $167.1M+15.3% | $158.2M+17.6% | $149.0M+15.7% |
| Gross Profit | $168.3M+24.7% | $140.4M+14.2% | $144.8M+19.4% | $149.6M+38.2% | $134.9M+28.8% | $122.9M+22.4% | $121.2M+45.0% | $108.3M+30.5% |
| R&D Expenses | $17.3M-6.0% | $15.9M-18.0% | $19.1M+2.6% | $18.2M+9.5% | $18.5M-15.9% | $19.4M+0.3% | $18.6M+6.0% | $16.7M-7.7% |
| SG&A Expenses | $45.2M-24.7% | $44.4M-20.3% | $46.0M-35.1% | $51.4M-25.8% | $60.0M-22.8% | $55.8M-23.9% | $70.8M+28.0% | $69.2M+6.9% |
| Operating Income | $105.8M+87.4% | $80.0M+67.8% | $79.7M+151.2% | $80.0M+257.2% | $56.5M+1023.3% | $47.7M+520.1% | $31.7M+198.0% | $22.4M+13717.3% |
| EBITDA | $109.7M+71.3% | $83.9M+51.4% | $86.8M+117.0% | $87.6M+196.9% | $64.1M+430.8% | $55.4M+295.6% | $40.0M+140.8% | $29.5M+452.5% |
| Income Tax | -$1.1M-121.9% | $3.1Mn/m | -$7.0M-142.0% | -$15.2Mn/m | $5.0M-65.7% | -$2.5M-150.8% | $16.6M+228.0% | -$11.5Mn/m |
| Net Income | $45.3M+171.8% | $24.7M+212.9% | $34.3Mn/m | $22.5Mn/m | $16.7Mn/m | $7.9Mn/m | -$237.9Mn/m | -$67.5Mn/m |
| EPS (Basic) | $0.53+165.0% | $0.29+190.0% | $0.42n/m | $0.27n/m | $0.20n/m | $0.10n/m | -$3.31n/m | -$0.93n/m |
| EPS (Diluted) | $0.49+145.0% | $0.28+180.0% | $0.38n/m | $0.23n/m | $0.20n/m | $0.10n/m | -$3.31n/m | -$0.93n/m |
| Diluted Shares (Avg) | 97M+22.1% | 97M+25.6% | N/A | 91M+25.2% | 80M+11.0% | 77M+19.4% | N/A | 73M+19.8% |
Not reported in any period shown, so not listed: Interest Expense.
PGYWW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K/A | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.7B+21.0% | $1.6B+29.0% | $1.5B+19.7% | $1.5B+6.2% | $1.4B-3.7% | $1.3B-13.8% | $1.3B+6.8% | $1.4B |
| Current Assets | N/A | N/A | N/A | N/A | $362.5M+0.4% | $355.6M-10.9% | $351.5M+15.8% | $298.5M |
| Cash & Equivalents | $249.3M+36.2% | $317.8M+70.1% | $235.3M+25.2% | $218.3M+48.4% | $183.0M-21.7% | $186.8M-31.9% | $187.9M+0.8% | $147.1M-41.8% |
| Short-Term Investments | $0-100.0% | $0-100.0% | $0-100.0% | $0-100.0% | $21.5M+1194.0% | $19.7M+1415.0% | $22.1M+787.0% | $11.3Mn/m |
| Long-Term Investments | $0-100.0% | $0-100.0% | $0-100.0% | $0n/m | $848.5Mn/m | $740.8Mn/m | $756.3Mn/m | $0n/m |
| Goodwill | $22.9M0.0% | $22.9M0.0% | $22.9M-0.7% | $22.9M+109.3% | $22.9M+109.3% | $22.9M+109.3% | $23.1M+110.7% | $10.9M |
| Total Liabilities | $1.0B+18.4% | $1.0B+33.5% | $960.5M+23.9% | $889.4M+18.0% | $856.8M+12.3% | $763.3M+11.8% | $775.3M+65.5% | $753.8M |
| Current Liabilities | N/A | N/A | N/A | N/A | $254.5M+5.5% | $198.7M+17.3% | $195.5M+160.9% | $254.5M |
| Non-Current Liabilities | N/A | N/A | N/A | N/A | $602.3M+15.4% | $564.6M+9.9% | $579.8M+47.4% | $499.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | $317.9M+35.3% | $321.3M | $230.2M |
| Total Equity | $594.2M+62.0% | $529.3M+57.8% | $480.0M+47.0% | $438.3M-5.2% | $366.8M-30.3% | $335.5M-46.5% | $326.5M-41.7% | $462.3M |
| Retained Earnings | -$792.7Mn/m | -$838.0Mn/m | -$862.7Mn/m | -$897.0Mn/m | -$919.5Mn/m | -$936.1Mn/m | -$944.0Mn/m | -$706.1M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable.
PGYWW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K/A | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $74.7M+30.3% | $43.2M+25.4% | $79.8M+186.5% | $67.0Mn/m | $57.4M+517.0% | $34.4M+94.4% | $27.9M+47.0% | -$7.1M-144.0% |
| Depreciation & Amortization | $3.9M-48.4% | $3.9M-50.0% | $7.1M-13.9% | $7.6M+7.3% | $7.6M+7.8% | $7.7M+22.2% | $8.3M+38.8% | $7.1M+37.5% |
| Stock-Based Compensation | $8.6M-53.0% | $7.2M-45.4% | N/A | $13.6M+10.1% | $18.2M+1.0% | $13.2M-14.9% | N/A | $12.3M-40.5% |
| Capital Expenditures | $3.4M-9.2% | $3.2M-15.9% | $3.1M-22.4% | $3.2M-23.5% | $3.8M-13.2% | $3.8M-26.6% | $4.0M-14.2% | $4.2M-16.3% |
| Free Cash Flow | $71.3M+33.1% | $40.0M+30.5% | $76.7M+221.3% | $63.8Mn/m | $53.5M+989.5% | $30.7M+144.0% | $23.9M+66.8% | -$11.3M-202.4% |
| Investing Cash Flow | -$118.9Mn/m | -$15.9Mn/m | -$100.2Mn/m | -$57.3Mn/m | -$125.3Mn/m | -$26.9Mn/m | -$31.8Mn/m | -$105.8Mn/m |
| Financing Cash Flow | -$33.3M-142.4% | $64.2Mn/m | $42.7M-12.5% | $12.3M-51.9% | $78.4M+23.1% | -$3.8M-101.3% | $48.8M+295.5% | $25.5M-59.8% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
PGYWW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K/A | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 43.5%+2.2pp | 44.1%+1.8pp | 43.2%-0.1pp | 42.7%+0.6pp | 41.3%-0.5pp | 42.4%+1.5pp | 43.4%+5.1pp | 42.1%+2.9pp |
| Operating Margin | 27.3%+10.0pp | 25.2%+8.7pp | 23.8%+12.4pp | 22.8%+14.1pp | 17.3%+15.3pp | 16.4%+13.3pp | 11.4%+6.5pp | 8.7%+8.6pp |
| Net Margin | 11.7%+6.6pp | 7.8%+5.1pp | 10.2%+95.4pp | 6.4%+32.7pp | 5.1%+35.0pp | 2.7%+11.4pp | -85.2%-78.5pp | -26.2%-16.0pp |
| Return on Equity | 7.6%+3.1pp | 4.7%+2.3pp | 7.1%+80.0pp | 5.1%+19.7pp | 4.5%+18.8pp | 2.4%+5.7pp | -72.9%-70.3pp | -14.6% |
| Return on Assets | 2.7%+1.5pp | 1.5%+0.9pp | 2.2%+20.6pp | 1.6%+6.5pp | 1.2%+6.3pp | 0.6%+2.1pp | -18.4%-17.2pp | -4.9% |
| Current Ratio | N/A | N/A | N/A | N/A | 1.42-0.1x | 1.79-0.6x | 1.80-2.3x | 1.17 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | 0.95+0.6x | 0.98 | 0.50 |
| Liabilities-to-Equity | 1.71-0.6x | 1.93-0.3x | 2.00-0.4x | 2.03+0.4x | 2.34+0.9x | 2.28+1.2x | 2.37+1.5x | 1.63 |
| Asset Turnover | 0.230.0x | 0.190.0x | 0.220.0x | 0.24+0.1x | 0.23+0.1x | 0.23+0.1x | 0.220.0x | 0.19 |
| FCF Margin | 18.4%+2.0pp | 12.6%+2.0pp | 22.9%+14.4pp | 18.2%+22.6pp | 16.4%+14.4pp | 10.6%+5.5pp | 8.6%+2.0pp | -4.4%-9.6pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Pagaya Technologies Ltd. Warrants PGYWW | FY2025 | $1.3B | $81.4M | 6.3% | N/A | 55/100 |
| Mobilicom Limited Warrants MOBBW | FY2025 | $3.4M | -$23.7M | N/A | $1.2B | 84/100 |
| Franklin Covey Company FC | FY2025 | $267.1M | $3.1M | 1.1% | $204.4M | 44/100 |
| NLI Holdings, Inc. NL | FY2025 | $158.3M | -$37.8M | -23.9% | $347.7M | 54/100 |
| Ternium S.A. TX | FY2025 | $15.6B | $425.2M | 2.7% | $10.4B | 48/100 |
Where Pagaya Technologies Ltd. Warrants Ranks
Frequently Asked Questions
Pagaya Technologies Ltd. Warrants (PGYWW) reported $1.3B in total revenue for fiscal year 2025. This represents a 26.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Pagaya Technologies Ltd. Warrants (PGYWW) revenue grew by 26.1% year-over-year, from $1.0B to $1.3B in fiscal year 2025.
Yes, Pagaya Technologies Ltd. Warrants (PGYWW) reported a net income of $126.8M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $81.4M, with a net profit margin of 6.3%.
Pagaya Technologies Ltd. Warrants (PGYWW) had EBITDA of $293.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Pagaya Technologies Ltd. Warrants (PGYWW) had a gross margin of 42.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
Pagaya Technologies Ltd. Warrants (PGYWW) had an operating margin of 20.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
Pagaya Technologies Ltd. Warrants (PGYWW) had a net profit margin of 6.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Pagaya Technologies Ltd. Warrants (PGYWW) has a return on equity of 17.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Pagaya Technologies Ltd. Warrants (PGYWW) generated $224.7M in free cash flow during fiscal year 2025. This represents a 648.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
Pagaya Technologies Ltd. Warrants (PGYWW) generated $238.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Pagaya Technologies Ltd. Warrants (PGYWW) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.
Pagaya Technologies Ltd. Warrants (PGYWW) invested $13.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Pagaya Technologies Ltd. Warrants (PGYWW) invested $75.2M in research and development during fiscal year 2025.
Pagaya Technologies Ltd. Warrants (PGYWW) had a liabilities-to-equity ratio of 2.00 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
Pagaya Technologies Ltd. Warrants (PGYWW) had a return on assets of 5.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Pagaya Technologies Ltd. Warrants (PGYWW) has a Piotroski F-Score of 6 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Pagaya Technologies Ltd. Warrants (PGYWW) has an earnings quality ratio of 2.93x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Pagaya Technologies Ltd. Warrants (PGYWW) scores 55 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.