Pagaya Technologies Ltd

For the period ended Jun 30, 2024. Filed Aug 9, 2024.

About this filing

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.

Jun 30, 2024 · Filed Aug 9, 2024

PGY$18.19+3.9%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Condensed consolidated balance sheets

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(In thousands, except share amounts)

	June 30,	December 31,
	2024	2023
Assets
Current assets:
Cash and cash equivalents	$233,593	$186,478
Restricted cash	17,469	16,874
Fees and other receivables (including related party receivables of $55,549 and $51,036 as of June 30, 2024 and December 31, 2023, respectively)	93,460	79,526
Investments in loans and securities	1,663	2,490
Prepaid expenses and other current assets (including related party assets of $6,406 and $7,896 as of June 30, 2024 and December 31, 2023, respectively)	15,012	18,034
Total current assets	361,197	303,402
Restricted cash	16,864	19,189
Fees and other receivables (including related party receivables of $32,987 and $33,739 as of June 30, 2024 and December 31, 2023, respectively)	32,987	34,181
Investments in loans and securities	909,762	714,303
Equity method and other investments	26,593	26,383
Right-of-use assets	51,631	55,729
Property and equipment, net	40,628	41,557
Goodwill	10,945	10,945
Intangible assets	1,275	2,550
Prepaid expenses and other assets	1,095	137
Total non-current assets	1,091,780	904,974
Total Assets	$1,452,977	$1,208,376
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable	$7,303	$1,286
Accrued expenses and other liabilities	36,090	28,562
Current maturities of operating lease liabilities	6,427	6,931
Current portion of long-term debt	12,750	—
Secured borrowing	176,223	37,685
Income taxes payable	2,461	461
Total current liabilities	241,254	74,925
Non-current liabilities:
Warrant liability	1,671	3,242
Revolving credit facility	—	90,000
Long-term debt	219,842	—
Secured borrowing	223,998	234,028
Operating lease liabilities	39,529	43,940
Long-term tax liabilities	36,752	22,135
Deferred tax liabilities, net	107	107
Total non-current liabilities	521,899	393,452
Total Liabilities	763,153	468,377
Redeemable convertible preferred shares, no par value, 6,666,666 shares authorized, 5,000,000 shares issued and outstanding as of June 30, 2024; aggregate liquidation preference of $150,000 as of June 30, 2024. (1)	74,250	74,250
Shareholders’ equity:
Class A ordinary shares, no par value, 666,666,666 shares authorized, 58,943,381 and 49,390,936 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. (1)	—	—
Class B ordinary shares, no par value, 166,666,666 shares authorized, 12,652,310 and 12,652,310 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. (1)	—	—
Additional paid-in capital	1,235,677	1,101,914
Accumulated other comprehensive income (loss)	(71,050)	444
Accumulated deficit	(638,645)	(542,637)
Total Pagaya Technologies Ltd. shareholders’ equity	525,982	559,721
Noncontrolling interests	89,592	106,028
Total shareholders’ equity	615,574	665,749
Total Liabilities, Redeemable Convertible Preferred Shares, and Shareholders’ Equity	$1,452,977	$1,208,376

(1) Share amounts have been retroactively adjusted to reflect the 1-for-12 reverse share split effected on March 8, 2024.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.