Company: PGYWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001883085-25-000169
Chunk: 87

Company: Pagaya Technologies Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 87
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)(443)(1,612)(364)%Total Revenue and Other Income$326,398 $250,344 $76,054 30 %

Total revenue and other income, increased by $76.1 million, or 30%, to $326.4 million for the three months ended June 30, 2025 from $250.3 million for the three months ended June 30, 2024. The increase was primarily driven by an increase in revenue from fees and interest income, partially offset by an increase in investment loss, net. 

Revenue from fees for the three months ended June 30, 2025 increased by $75.1 million, or 31%, to $317.7 million, compared to the same period in 2024. The increase was primarily due to a $64.1 million increase in Network AI fees, comprised of AI integration fees and capital markets execution fees, from $221.8 million for the three months ended June 30, 2024 to $285.9 million for the three months ended June 30, 2025. The increase in Network AI fees was primarily driven by improved economics in AI integration fees earned from certain Partners, as well as the growth in Network Volume, which increased by 13.6% from $2.3 billion for the three months ended June 30, 2024 to $2.6 billion for the three 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 three months ended June 30, 2025. 

Contract fees, comprised of administration and management fees, performances fees, and servicing fees, increased by $11.0 million from $20.8 million for the three months ended June 30, 2024 to $31.8 million for the three months ended June 30, 2025, reflecting an increase in net asset values of the assets held by certain Financing Vehicles driven by continued business growth. 

Interest income increased by $2.5 million, or 31%, to $10.7 million for the three months ended June 30, 2025 from $8.2 million for the three months ended June 30, 2024. The increase in interest income was directly related to our risk retention holdings and related securities held in our consolidated VIEs as well as certain risk retention holdings held directly by our consolidated subsidiaries. For further information, see