Company: PGYWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001883085-25-000169
Chunk: 176

Company: Pagaya Technologies Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 176
---
,598 $120,820 25 %Interest income18,415 15,937 2,478 16 %Investment (loss) income, net(2,446)85 (2,531)(2978)%Total Revenue and Other Income$616,387 $495,620 $120,767 24 %

Total revenue and other income, increased by $120.8 million, or 24%, to $616.4 million for the six months ended June 30, 2025 from $495.6 million for the six months ended June 30, 2024. The increase was primarily driven by an increase in revenue from fees, partially offset by a decrease in investment (loss) income. 

Revenue from fees for the six months ended June 30, 2025 increased by $120.8 million, or 25%, to $600.4 million, compared to the same period in 2024. The increase was primarily due to a $102.3 million increase in Network AI fees, comprised of AI integration fees and capital markets execution fees, from $437.1 million for the six months ended June 30, 2024 to $539.3 million for the six months ended June 30, 2025. The increase in Network AI fees was primarily driven by improved economics of AI integration fees earned from certain Partners, as well as the growth in Network Volume, which increased by 6% from $4.8 billion for the six months ended June 30, 2024 to $5.0 billion for the six months ended June 30, 2025. These increases were partially offset by a  decrease in capital markets execution fees earned from our ABS and forward flow transactions during the six months ended June 30, 2025. 

Contract fees, comprised of administration and management fees and performance fees, increased by $18.6 million from $42.5 million for the six months ended June 30, 2024 to $61.1 million for the six months ended June 30, 2025. This increase was due to higher net asset values of assets held by certain Financing Vehicles driven by continued business growth, and an increase in performance fees, as the prior period included a reversal of performance fees.

Interest income increased by $2.5 million, or 16%, to $18.4 million for the six months ended June 30, 202