{"id":15,"date":"2025-08-09T12:38:28","date_gmt":"2025-08-09T12:38:28","guid":{"rendered":"https:\/\/andyguy.com\/?p=15"},"modified":"2026-09-04T09:11:18","modified_gmt":"2026-09-04T09:11:18","slug":"%ed%8c%8c%ea%b0%80%ec%95%bcpgy-%eb%b6%84%ea%b8%b0-%eb%b3%84-%ec%8b%a4%ec%a0%81-%eb%b6%84%ec%84%9d","status":"publish","type":"post","link":"https:\/\/andyguy.com\/en\/%ed%8c%8c%ea%b0%80%ec%95%bcpgy-%eb%b6%84%ea%b8%b0-%eb%b3%84-%ec%8b%a4%ec%a0%81-%eb%b6%84%ec%84%9d\/","title":{"rendered":"Pagaya (PGY) Quarterly Performance Analysis"},"content":{"rendered":"
\n
\n

Complete Analysis of Pagaya (PGY) Performance<\/h2>\n

Is Pagaya a company worth investing in?<\/p>\n

\ud83d\udcc5 August 2025 Analysis | \ud83d\udcb0 Nasdaq: PGY | \ud83c\udff7\ufe0f Fintech, AI, Lending Platform<\/p>\n\n<\/div>\n

\ud83d\udd0d Introduction: Why Pagaya Technologies Now?<\/h2>\nOne of the companies receiving the most attention in the fintech industry recently is none other than Pagaya Technology<\/strong>This company, which operates an AI-based lending platform, has been showing remarkable performance growth since the beginning of 2025. Pagaya, which had recorded continuous losses since its IPO, has finally Transition to profitability<\/strong>It has succeeded and is attracting investor attention by achieving a GAAP profit for two consecutive quarters. Just how capable is this company truly?\n
\ud83d\udca1 Key Points<\/strong>\n\u2022 Achieved first-ever GAAP profit since listing starting Q1 2025 \u2022 Possesses differentiated competitive edge through AI-based loan underwriting \u2022 Simultaneously achieved an annual revenue growth rate of 301 TP3T and margin improvement \u2022 Ranked No. 1 issuer of U.S. personal loan ABS \u2022 Debt ratio rises to 175.61 TP3T, requiring monitoring<\/div>\n<\/div>\n
<\/div>\n
\n

Pagaya Detailed Financial Statement Analysis<\/h2>\n

Key Performance Indicators<\/h3>\n
\n
\n
30%<\/div>\n
Sales Growth Rate (YoY)<\/div>\n
Q2 2025<\/div>\n<\/div>\n
\n
$17M<\/div>\n
Q2 2025 Net Profit<\/div>\n
+$91M YoY<\/div>\n<\/div>\n
\n
72%<\/div>\n
EBITDA growth rate<\/div>\n
Q2 2025 YoY<\/div>\n<\/div>\n
\n
4.8%<\/div>\n
FRLPC margin<\/div>\n
Continuous improvement<\/div>\n<\/div>\n<\/div>\n

Detailed Analysis of Revenue<\/h3>\n\n\n\n\n\n\n\n\n
division<\/th>\nQ4 2023<\/th>\nQ4 2024<\/th>\nYoY growth rate<\/th>\n2023<\/th>\n2024<\/th>\nYoY growth rate<\/th>\n<\/tr>\n<\/thead>\n
Commission Revenue (USD)<\/strong><\/td>\n$210.4M<\/td>\n$275.7M<\/td>\n+31.0%<\/td>\n$772.8M<\/td>\n$1,004.6M<\/td>\n+30.0%<\/td>\n<\/tr>\n
Commission Revenue (KRW)<\/strong><\/td>\n284 billion won<\/td>\n372.2 billion won<\/td>\n+31.0%<\/td>\n1 trillion 433 billion won<\/td>\n1 trillion 356 billion won<\/td>\n+30.0%<\/td>\n<\/tr>\n
Total Sales (USD)<\/strong><\/td>\n$218.0M<\/td>\n$279.4M<\/td>\n+28.2%<\/td>\n$812.1M<\/td>\n$1,032.2M<\/td>\n+27.1%<\/td>\n<\/tr>\n
Total Sales (KRW)<\/strong><\/td>\n294.3 billion won<\/td>\n377.2 billion won<\/td>\n+28.2%<\/td>\n1 trillion 963 billion won<\/td>\n1 trillion 394 billion won<\/td>\n+27.1%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/h4>\n

\ud83d\udcc8 Latest 2025 Performance<\/h4>\n\n\n\n\n\n\n
division<\/th>\nQ1 2025<\/th>\nQ2 2025<\/th>\nQuarterly growth rate<\/th>\n<\/tr>\n<\/thead>\n
Total Sales (USD)<\/strong><\/td>\n~$290M<\/td>\n$326M<\/td>\n+12.4%<\/td>\n<\/tr>\n
Total Sales (KRW)<\/strong><\/td>\nApproximately 391.5 billion won<\/td>\n440.1 billion won<\/td>\n+12.4%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/h3>\n

Detailed Analysis of Operating Income<\/h3>\n\n\n\n\n\n\n\n
division<\/th>\nQ4 2023<\/th>\nQ4 2024<\/th>\nYoY change<\/th>\n2023<\/th>\n2024<\/th>\nYoY change<\/th>\n<\/tr>\n<\/thead>\n
Operating Profit (USD)<\/strong><\/td>\n$10.7M<\/td>\n$31.7M<\/td>\n+198%<\/td>\n$(24.4)M<\/td>\n$66.8M<\/td>\nTurnaround to surplus<\/td>\n<\/tr>\n
Operating Profit (KRW)<\/strong><\/td>\n14.4 billion won<\/td>\n42.8 billion won<\/td>\n+198%<\/td>\n(32.9 billion won)<\/td>\n90.2 billion won<\/td>\nTurnaround to surplus<\/td>\n<\/tr>\n
Operating profit margin<\/strong><\/td>\n4.9%<\/td>\n11.4%<\/td>\n+650bp<\/td>\n-3.0%<\/td>\n6.5%<\/td>\n+950bp<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/h3>\n

Detailed Analysis of Net Income<\/h3>\n\n\n\n\n\n\n
division<\/th>\nQ4 2023<\/th>\nQ4 2024<\/th>\nYoY change<\/th>\n2023<\/th>\n2024<\/th>\nYoY change<\/th>\n<\/tr>\n<\/thead>\n
Net Profit\/Loss (USD)<\/strong><\/td>\n$(14.4)M<\/td>\n$(237.9)M<\/td>\ndeterioration<\/td>\n$(128.4)M<\/td>\n$(401.4)M<\/td>\ndeterioration<\/td>\n<\/tr>\n
Net Profit\/Loss (KRW)<\/strong><\/td>\n(19.4 billion won)<\/td>\n(321.2 billion won)<\/td>\ndeterioration<\/td>\n(173.4 billion won)<\/td>\n(541.9 billion won)<\/td>\ndeterioration<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\u26a0\ufe0f Caution:<\/strong> The widening net loss in 2024 was primarily caused by non-cash items, such as the adjustment of the fair value of the investment portfolio ($156M).<\/div>\n
<\/div>\n

\ud83c\udf89 Turnaround to Net Profit in 2025 (GAAP)<\/h4>\n\n\n\n\n\n\n\n
division<\/th>\nQ1 2025<\/th>\nQ2 2025<\/th>\nQuarterly growth rate<\/th>\n<\/tr>\n<\/thead>\n
Net Profit (USD)<\/strong><\/td>\n$8M<\/td>\n$17M<\/td>\n+112.5%<\/td>\n<\/tr>\n
Net Profit (KRW)<\/strong><\/td>\n10.8 billion won<\/td>\n22.9 billion won<\/td>\n+112.5%<\/td>\n<\/tr>\n
Net profit margin<\/strong><\/td>\n2.8%<\/td>\n5.2%<\/td>\n+240bp<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/h3>\n

FRLPC (Fee Revenue Less Production Costs) Margin Analysis<\/h3>\n\n\n\n\n\n\n\n
division<\/th>\nQ4 2023<\/th>\nQ4 2024<\/th>\nRange of improvement<\/th>\n2023<\/th>\n2024<\/th>\nRange of improvement<\/th>\n<\/tr>\n<\/thead>\n
FRLPC (USD)<\/strong><\/td>\n$75.9M<\/td>\n$117.5M<\/td>\n+54.7%<\/td>\n$263.9M<\/td>\n$406.9M<\/td>\n+54.2%<\/td>\n<\/tr>\n
FRLPC (KRW)<\/strong><\/td>\n102.5 billion won<\/td>\n158.6 billion won<\/td>\n+54.7%<\/td>\n356.3 billion won<\/td>\n549.3 billion won<\/td>\n+54.2%<\/td>\n<\/tr>\n
FRLPC margin<\/strong><\/td>\n3.2%<\/td>\n4.5%<\/td>\n+130bp<\/td>\n3.2%<\/td>\n4.2%<\/td>\n+100bp<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/h3>\n

Detailed Analysis of Adjusted EBITDA<\/h3>\n\n\n\n\n\n\n\n
division<\/th>\nQ4 2023<\/th>\nQ4 2024<\/th>\nYoY growth rate<\/th>\n2023<\/th>\n2024<\/th>\nYoY growth rate<\/th>\n<\/tr>\n<\/thead>\n
Adjusted EBITDA (USD)<\/strong><\/td>\n$34.2M<\/td>\n$64.2M<\/td>\n+87.7%<\/td>\n$82.0M<\/td>\n$210.4M<\/td>\n+156.6%<\/td>\n<\/tr>\n
Adjusted EBITDA (KRW)<\/strong><\/td>\n46.2 billion won<\/td>\n86.7 billion won<\/td>\n+87.7%<\/td>\n110.7 billion won<\/td>\n284 billion won<\/td>\n+156.6%<\/td>\n<\/tr>\n
EBITDA margin<\/strong><\/td>\n15.7%<\/td>\n23.0%<\/td>\n+730bp<\/td>\n10.1%<\/td>\n20.4%<\/td>\n+1,030bp<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/h4>\n

2025 EBITDA (Latest)<\/h4>\n\n\n\n\n\n\n\n
division<\/th>\nQ2 2025<\/th>\nCompared to the same period last year<\/th>\n<\/tr>\n<\/thead>\n
Adjusted EBITDA (USD)<\/strong><\/td>\n$86M<\/td>\n+72% YoY<\/td>\n<\/tr>\n
Adjusted EBITDA (KRW)<\/strong><\/td>\n116.1 billion won<\/td>\n+72% YoY<\/td>\n<\/tr>\n
EBITDA margin<\/strong><\/td>\n26.4%<\/td>\n+530bp YoY<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/h3>\n

Detailed Analysis of the Balance Sheet<\/h3>\n

Asset composition (as of December 31, 2024)<\/h4>\n\n\n\n\n\n\n\n\n\n\n
division<\/th>\n2023<\/th>\n2024<\/th>\nYoY change<\/th>\n<\/tr>\n<\/thead>\n
Total Assets (USD)<\/strong><\/td>\n$1,208.4M<\/td>\n$1,291.1M<\/td>\n+6.8%<\/td>\n<\/tr>\n
Total Assets (KRW)<\/strong><\/td>\n1 trillion 631 billion won<\/td>\n1 trillion 743 billion won<\/td>\n+6.8%<\/td>\n<\/tr>\n
Cash equivalents (USD)<\/strong><\/td>\n$222.5M<\/td>\n$226.5M<\/td>\n+1.8%<\/td>\n<\/tr>\n
Cash equivalents (KRW)<\/strong><\/td>\n300.4 billion won<\/td>\n305.8 billion won<\/td>\n+1.8%<\/td>\n<\/tr>\n
Loan Investment (USD)<\/strong><\/td>\n$716.8M<\/td>\n$764.1M<\/td>\n+6.6%<\/td>\n<\/tr>\n
Loan Investment (KRW)<\/strong><\/td>\n967.7 billion won<\/td>\n1 trillion 315 billion won<\/td>\n+6.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/h4>\n

\u2696\ufe0f Debt and Capital Structure<\/h4>\n\n\n\n\n\n\n\n\n
division<\/th>\n2023<\/th>\n2024<\/th>\nYoY change<\/th>\n<\/tr>\n<\/thead>\n
Total debt (USD)<\/strong><\/td>\n$468.4M<\/td>\n$775.3M<\/td>\n+65.5%<\/td>\n<\/tr>\n
Total Debt (KRW)<\/strong><\/td>\n632.4 billion won<\/td>\n1 trillion 467 billion won<\/td>\n+65.5%<\/td>\n<\/tr>\n
Equity (USD)<\/strong><\/td>\n$665.7M<\/td>\n$441.5M<\/td>\n-33.7%<\/td>\n<\/tr>\n
Equity (KRW)<\/strong><\/td>\n898.7 billion won<\/td>\n596 billion won<\/td>\n-33.7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/h4>\n

Detailed analysis of the debt ratio<\/h4>\n\n\n\n\n\n\n\n
characteristic<\/th>\n2023<\/th>\n2024<\/th>\nchange<\/th>\n<\/tr>\n<\/thead>\n
Debt-to-equity ratio (Debt\/Capital)<\/strong><\/td>\n70.4%<\/td>\n175.6%<\/td>\n+105.2%p<\/td>\n<\/tr>\n
Debt-to-equity ratio (Debt\/Assets)<\/strong><\/td>\n38.8%<\/td>\n60.1%<\/td>\n+21.3%p<\/td>\n<\/tr>\n
Equity ratio<\/strong><\/td>\n55.1%<\/td>\n34.2%<\/td>\n-20.9%p<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\u26a0\ufe0f Caution:<\/strong> The increase in debt is attributed to the issuance of ABS and expanded borrowing for business expansion.<\/div>\n

Summary of Key Financial Ratios<\/h3>\n

Profitability ratio<\/h4>\n\n\n\n\n\n\n\n\n
characteristic<\/th>\n2023<\/th>\n2024<\/th>\nQ2 2025<\/th>\nImprovement<\/th>\n<\/tr>\n<\/thead>\n
Gross profit margin<\/strong><\/td>\n34.1%<\/td>\n40.5%<\/td>\n45.2%<\/td>\nSignificantly improved<\/td>\n<\/tr>\n
Operating profit margin<\/strong><\/td>\n-3.0%<\/td>\n6.5%<\/td>\n8.5%<\/td>\nTurnaround to surplus<\/td>\n<\/tr>\n
Net profit margin<\/strong><\/td>\n-15.8%<\/td>\n-38.9%<\/td>\n5.2%<\/td>\nSurplus in 2025<\/td>\n<\/tr>\n
ROE<\/strong><\/td>\n-19.3%<\/td>\n-90.9%<\/td>\n15.4%<\/td>\nGood in 2025<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/h4>\n

Growth ratio<\/h4>\n\n\n\n\n\n\n\n
characteristic<\/th>\n2024 growth rate<\/th>\nQ2 2025 Growth Rate<\/th>\n<\/tr>\n<\/thead>\n
Sales growth rate<\/strong><\/td>\n+27.1%<\/td>\n+30% (YoY)<\/td>\n<\/tr>\n
Operating profit growth rate<\/strong><\/td>\nTurnaround to surplus<\/td>\nContinuous improvement<\/td>\n<\/tr>\n
EBITDA growth rate<\/strong><\/td>\n+156.6%<\/td>\n+72% (YoY)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/h4>\n

stability ratio<\/h4>\n\n\n\n\n\n\n\n
characteristic<\/th>\n2023<\/th>\n2024<\/th>\nevaluation<\/th>\n<\/tr>\n<\/thead>\n
Current ratio<\/strong><\/td>\n405.0%<\/td>\n179.8%<\/td>\nGood<\/td>\n<\/tr>\n
Current ratio<\/strong><\/td>\n395.8%<\/td>\n172.8%<\/td>\nGood<\/td>\n<\/tr>\n
Cash ratio<\/strong><\/td>\n297.0%<\/td>\n115.9%<\/td>\ntitration<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/h3>\n

2025 Guidance and Outlook<\/h3>\n

Expected performance for the full year 2025<\/h4>\n\n\n\n\n\n\n\n\n
characteristic<\/th>\nGuidance Range (USD)<\/th>\nGuidance Range (KRW)<\/th>\nCompared to the previous year<\/th>\n<\/tr>\n<\/thead>\n
Network volume<\/strong><\/td>\n$10.5-11.5B<\/td>\n14.2-15.5 trillion won<\/td>\n+8-18%<\/td>\n<\/tr>\n
Total sales<\/strong><\/td>\n$1.25-1.325B<\/td>\n1.69-1.79 trillion won<\/td>\n+21-28%<\/td>\n<\/tr>\n
Adjusted EBITDA<\/strong><\/td>\n$265-315M<\/td>\n357.8-425.3 billion won<\/td>\n+26-50%<\/td>\n<\/tr>\n
GAAP Net Income<\/strong><\/td>\n$(10)-40M<\/td>\n(135)-54 billion won<\/td>\nTurnaround to surplus<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/h3>\n

\ud83d\udcc8 Key Driver of the Turnaround to Profitability<\/h3>\n
1. Improvement in FRLPC Margins<\/strong>\nThe Fee Revenue Less Production Costs margin increased significantly from 3.21 TP3T to 4.81 TP3T. This is attributed to improved accuracy of the AI-based underwriting system and an increased proportion of high-margin products.2. Realization of Operational Leverage<\/strong>\nWe confirmed economies of scale by reducing core operating costs to 491 TP3T compared to FRLPC.\n\n3. Diversified Funding Strategy<\/strong>\nWe optimized financing costs through various financing methods, including ABS, institutional investors, and corporate bonds.\n\n<\/div>\n \n

\u2696\ufe0f Analysis of Pros and Cons from an Investment Perspective<\/h2>\n
\n
\n

\ud83d\udfe2 Investment Appeal<\/h4>\n
    \n \t
  • Profitability Transition Completed:<\/strong> GAAP surplus for two consecutive quarters<\/li>\n \t
  • AI Technology Superiority:<\/strong> Differentiated underwriting platform<\/li>\n \t
  • Market Leadership:<\/strong> No. 1 US Personal Loan ABS Issuer<\/li>\n \t
  • High growth rate:<\/strong> Annual 25-30% sales growth<\/li>\n \t
  • Margin Improvement:<\/strong> Achieved EBITDA margin level of 25%<\/li>\n \t
  • Diversified Funding:<\/strong> Stable financing structure<\/li>\n<\/ul>\n<\/div>\n
    \n

    \ud83d\udd34 Investment Risk Factors<\/h4>\n
      \n \t
    • Rise in debt ratio:<\/strong> Increased to 175.6%<\/li>\n \t
    • Interest Rate Sensitivity:<\/strong> Impact of Fed policy<\/li>\n \t
    • Credit Risk:<\/strong> Concerns over loan defaults during an economic downturn<\/li>\n \t
    • Intensified competition:<\/strong> AI Adoption by Existing Financial Institutions<\/li>\n \t
    • Regulatory Risk:<\/strong> Possibility of strengthening financial regulations<\/li>\n \t
    • Volatility:<\/strong> Stock price volatility due to the nature of growth stocks<\/li>\n<\/ul>\n<\/div>\n \n\n<\/div>\n

      Investment Opinion and Outlook<\/h2>\n
      \n

      \ud83d\udc8e Final Investment Opinion<\/h3>\nPagaya Technologies in the AI-based fintech industry Representative success stories of successful transitions to profitability<\/strong>Based on achieving consecutive profits in 2025 and strong growth momentum, we assess that the long-term investment value is very high. In particular, the differentiated competitiveness of the AI-based underwriting platform and diversified funding strategies are expected to become key drivers of sustainable future growth. However, the rise in the debt ratio requires continuous monitoring.\n\n<\/div>\n \n

      \ud83d\udccb Considerations for Investing<\/h3>\n
      \ud83d\udd50 Investment Timing:<\/strong> Currently in the early stages of transitioning to profitability, it is attractive from a mid-to-long-term investment perspective.\n\ud83d\udcb0 Investment Weight:<\/strong> Adequate diversification is recommended at a portfolio level of 3-51 TP3T.\n\u23f0 Monitoring Point:<\/strong> Quarterly FRLPC Margin, Debt Ratio, and Network Volume Growth Rate\n\ud83c\udfaf Target Rate of Return:<\/strong> Expect an average annual return of 25-351 TP3T over the next 2-3 years<\/div>\n
      <\/div>\nDisclaimer:<\/strong> This analysis represents a personal opinion based on publicly available financial information and does not constitute investment advice. Investment decisions should be made at one's own discretion and responsibility.\n
      \n\nIf you found this analysis report helpful, please share it! \ud83d\ude80<\/small>\n\n<\/div>\n<\/div>\n\n\n

      \u203b This article was written based on publicly available data with the assistance of AI research tools, and the content was reviewed by the author prior to publication. It is for informational purposes only and does not constitute an investment recommendation.<\/p>","protected":false},"excerpt":{"rendered":"

      \ud30c\uac00\uc57c (PGY) \uc2e4\uc801 \uc644\ubcbd \ubd84\uc11d \ud30c\uac00\uc57c\ub294 \ud22c\uc790\ud560\ub9cc\ud55c \ud68c\uc0ac\uc778\uac00? \ud83d\udcc5 2025\ub144 8\uc6d4 \ubd84\uc11d | \ud83d\udcb0 \ub098\uc2a4\ub2e5: PGY | \ud83c\udff7\ufe0f \ud540\ud14c\ud06c, AI, \ub300\ucd9c\ud50c\ub7ab\ud3fc \ud83d\udd0d \uc11c\ub860: \uc65c \uc9c0\uae08 Pagaya Technologies\uc778\uac00? \ucd5c\uadfc \ud540\ud14c\ud06c \uc5c5\uacc4\uc5d0\uc11c \uac00\uc7a5 \uc8fc\ubaa9\ubc1b\uace0 \uc788\ub294 \uae30\uc5c5 \uc911 \ud558\ub098\uac00 \ubc14\ub85c \ud30c\uac00\uc57c \ud14c\ud06c\ub180\ub85c\uc9c0\uc785\ub2c8\ub2e4. AI \uae30\ubc18 \ub300\ucd9c \ud50c\ub7ab\ud3fc\uc744 \uc6b4\uc601\ud558\ub294 \uc774 \ud68c\uc0ac\ub294 2025\ub144 \ub4e4\uc5b4 \ub180\ub77c\uc6b4 \uc2e4\uc801 \uc131\uc7a5\uc744 \ubcf4\uc5ec\uc8fc\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc0c1\uc7a5 \uc774\ud6c4 […]<\/p>\n","protected":false},"author":1,"featured_media":251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[152,64],"tags":[5,7,6],"class_list":["post-15","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-stock-analysis","category-fintech-healthtech","tag-5","tag-7","tag-6"],"_links":{"self":[{"href":"https:\/\/andyguy.com\/en\/wp-json\/wp\/v2\/posts\/15","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/andyguy.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/andyguy.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/andyguy.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/andyguy.com\/en\/wp-json\/wp\/v2\/comments?post=15"}],"version-history":[{"count":3,"href":"https:\/\/andyguy.com\/en\/wp-json\/wp\/v2\/posts\/15\/revisions"}],"predecessor-version":[{"id":562,"href":"https:\/\/andyguy.com\/en\/wp-json\/wp\/v2\/posts\/15\/revisions\/562"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/andyguy.com\/en\/wp-json\/wp\/v2\/media\/251"}],"wp:attachment":[{"href":"https:\/\/andyguy.com\/en\/wp-json\/wp\/v2\/media?parent=15"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/andyguy.com\/en\/wp-json\/wp\/v2\/categories?post=15"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/andyguy.com\/en\/wp-json\/wp\/v2\/tags?post=15"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}