Pagaya Technologies Ltd.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Net Income | $81.4M | $-401.4M | $-128.4M | $-302.3M | $-91.2M | $14.5M |
| Depreciation & Amortization | $30.1M | $28.8M | $19.1M | $6.3M | $815.0K | $290.0K |
| Depreciation | $30.1M | $28.8M | $19.1M | $6.3M | $800.0K | $300.0K |
| Amortization | $5.2M | $3.5M | $2.6M | $0 | — | — |
| Stock-Based Compensation | $54.1M | $61.5M | $71.1M | $241.7M | $67.8M | $156.0K |
| Net Cash from Operating Activities | $238.6M | $47.8M | $-21.7M | $-40.0M | $49.8M | $4.3M |
| Investing Activities | ||||||
| Capital Expenditures | $13.9M | $17.7M | $20.2M | $22.4M | $6.6M | $1.1M |
| Business Acquisitions | $-159.0K | $9.1M | — | — | — | — |
| Net Cash from Investing Activities | $-309.7M | $-479.9M | $-381.5M | $-265.4M | $-140.7M | $-122.8M |
| Financing Activities | ||||||
| Dividends Paid | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — |
| Net Cash from Financing Activities | $129.6M | $436.7M | $289.1M | $437.9M | $289.6M | $119.5M |
| Net Change in Cash | $61.8M | $4.0M | $-114.5M | $132.5M | $198.7M | $1.0M |
| Free Cash Flow | $224.7M | $30.0M | $-41.8M | $-62.4M | $43.2M | $3.2M |