Pagaya Technologies Ltd
For the period ended Sep 30, 2024. Filed Nov 12, 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.
Sep 30, 2024 · Filed Nov 12, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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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 September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | ||||
| Revenue from fees (including related party revenues of $174,177 and $157,590 for the three months ended September 30, 2024 and 2023, respectively, and $528,021 and $459,581 for the nine months ended September 30, 2024 and 2023, respectively) | $249,283 | $201,447 | $728,881 | $562,386 |
| Other Income | ||||
| Interest income | 8,735 | 10,375 | 24,672 | 30,965 |
| Investment income (loss) (1) | (784) | (65) | (699) | 656 |
| Total Revenue and Other Income | 257,234 | 211,757 | 752,854 | 594,007 |
| Production costs | 148,965 | 128,792 | 439,448 | 374,462 |
| Technology, data and product development | 16,655 | 18,039 | 57,970 | 56,833 |
| Sales and marketing | 11,440 | 11,339 | 35,028 | 40,197 |
| General and administrative | 57,790 | 53,425 | 185,307 | 157,567 |
| Total Costs and Operating Expenses | 234,850 | 211,595 | 717,753 | 629,059 |
| Operating Income (Loss) | 22,384 | 162 | 35,101 | (35,052) |
| Other expenses, net | (108,139) | (47,260) | (215,682) | (131,135) |
| Loss Before Income Taxes | (85,755) | (47,098) | (180,581) | (166,187) |
| Income tax expense (benefit) | (11,524) | (1,158) | 7,991 | 10,515 |
| Net Loss Including Noncontrolling Interests | (74,231) | (45,940) | (188,572) | (176,702) |
| Less: Net loss attributable to noncontrolling interests | (6,755) | (24,188) | (25,088) | (62,682) |
| Net Loss Attributable to Pagaya Technologies Ltd. | $(67,476) | $(21,752) | $(163,484) | $(114,020) |
| Per share data: | ||||
| Net loss per share attributable to Pagaya Technologies Ltd.: | ||||
| Basic and Diluted (2) | $(0.93) | $(0.36) | $(2.35) | $(1.91) |
| Weighted average shares outstanding: | ||||
| Basic and Diluted (2) | 72,728,667 | 60,713,648 | 69,619,813 | 59,617,660 |
(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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