Pagaya Technologies Ltd

For the period ended Sep 30, 2024. Filed Nov 12, 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.

Sep 30, 2024 · Filed Nov 12, 2024

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

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Contents

Condensed consolidated balance sheets

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(In thousands, except share amounts)

	September 30,	December 31,
	2024	2023
Assets
Current assets:
Cash and cash equivalents	$147,099	$186,478
Restricted cash	17,617	16,874
Fees and other receivables (including related party receivables of $55,591 and $51,036 as of September 30, 2024 and December 31, 2023, respectively)	98,280	79,526
Investments in loans and securities	11,251	2,490
Prepaid expenses and other current assets (including related party assets of $15,660 and $7,896 as of September 30, 2024 and December 31, 2023, respectively)	24,214	18,034
Total current assets	298,461	303,402
Restricted cash	16,331	19,189
Fees and other receivables (including related party receivables of $30,783 and $33,739 as of September 30, 2024 and December 31, 2023, respectively)	30,783	34,181
Investments in loans and securities	912,131	714,303
Equity method and other investments	25,778	26,383
Right-of-use assets	34,087	55,729
Property and equipment, net	39,359	41,557
Goodwill	10,945	10,945
Intangible assets	638	2,550
Prepaid expenses and other assets	1,064	137
Deferred offering costs	1,198	—
Total non-current assets	1,072,314	904,974
Total Assets	$1,370,775	$1,208,376
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable	$5,835	$1,286
Accrued expenses and other liabilities	32,550	28,562
Current maturities of operating lease liabilities	5,491	6,931
Current portion of long-term debt	12,750	—
Secured borrowing	195,457	37,685
Income taxes payable	2,370	461
Total current liabilities	254,453	74,925
Non-current liabilities:
Warrant liability	2,884	3,242
Revolving credit facility	15,000	90,000
Long-term debt	217,424	—
Secured borrowing	213,268	234,028
Operating lease liabilities	27,693	43,940
Long-term tax liabilities	22,839	22,135
Deferred tax liabilities, net	189	107
Total non-current liabilities	499,297	393,452
Total Liabilities	753,750	468,377
Redeemable convertible preferred shares, no par value, 6,666,666 shares authorized, 5,000,000 shares issued and outstanding as of September 30, 2024 and December 31, 2023; aggregate liquidation preference of $150,000 as of September 30, 2024 and December 31, 2023. (1)	74,250	74,250
Shareholders’ equity:
Class A ordinary shares, no par value, 666,666,666 shares authorized, 60,160,631 and 49,390,936 shares issued and outstanding as of September 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 September 30, 2024 and December 31, 2023, respectively. (1)	—	—
Additional paid-in capital	1,258,862	1,101,914
Accumulated other comprehensive income (loss)	(90,432)	444
Accumulated deficit	(706,121)	(542,637)
Total Pagaya Technologies Ltd. shareholders’ equity	462,309	559,721
Noncontrolling interests	80,466	106,028
Total shareholders’ equity	542,775	665,749
Total Liabilities, Redeemable Convertible Preferred Shares, and Shareholders’ Equity	$1,370,775	$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.