Pagaya Technologies Ltd
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
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Condensed consolidated statements of operations
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands, except share and per share data)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenue | ||
| Revenue from fees (including related party revenues of $178,511 and $153,793 for the three months ended March 31, 2024 and 2023, respectively) | $237,004 | $175,254 |
| Other Income | ||
| Interest income | 7,744 | 10,397 |
| Investment income (loss) (1) | 528 | 987 |
| Total Revenue and Other Income | 245,276 | 186,638 |
| Production costs | 144,881 | 125,057 |
| Technology, data and product development | 19,380 | 21,131 |
| Sales and marketing | 10,257 | 14,300 |
| General and administrative | 63,068 | 51,126 |
| Total Costs and Operating Expenses | 237,586 | 211,614 |
| Operating Income (Loss) | 7,690 | (24,976) |
| Other income (expenses), net | (34,349) | (66,980) |
| Income (Loss) Before Income Taxes | (26,659) | (91,956) |
| Income tax expense (benefit) | 5,003 | 6,667 |
| Net Loss Including Noncontrolling Interests | (31,662) | (98,623) |
| Less: Net income (loss) attributable to noncontrolling interests | (10,439) | (37,652) |
| Net Income (Loss) Attributable to Pagaya Technologies Ltd. | $(21,223) | $(60,971) |
| Per share data: | ||
| Net income (loss) per share attributable to Pagaya Technologies Ltd.: | ||
| Basic and Diluted (2) | $(0.33) | $(1.03) |
| Weighted average shares outstanding: | ||
| Basic and Diluted (2) | 64,504,458 | 59,255,864 |
(1)Includes income from proprietary investments.
(2)Share amounts have been retroactively adjusted to reflect the 1-for-12 reverse share split effected on March 8, 2024.
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