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UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN REDEEMABLE CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Total Pagaya Technologies Ltd. Shareholders’ Equity (Deficit)
Ordinary Shares (Class A and Class B)
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings (Accumulated Deficit)
Non-Controlling Interests
Beginning balance at Dec. 31, 2021 [1] 406,399,029            
Beginning balance (in shares) at Dec. 31, 2021 $ 307,047            
Redeemable Convertible Preferred Shares              
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs (in shares) [1] (406,399,029)            
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs $ (307,047)            
Ending balance at Jun. 30, 2022 [1] 0            
Ending balance (in shares) at Jun. 30, 2022 $ 0            
Beginning balance (in shares) at Dec. 31, 2021 [1]     194,345,791        
Beginning balance at Dec. 31, 2021 177,352 $ 1,292 $ 0 $ 113,170 $ 0 $ (111,878) $ 176,060
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of ordinary shares upon exercise of share options (in shares) [1]     10,032,507        
Issuance of ordinary shares upon exercise of share options 446 446   446      
Issuance of ordinary shares upon vesting of RSUs (in shares) [1]     4,671        
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs (in shares) [1]     449,531,406        
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs 581,359 581,359   581,359      
Share-based compensation 162,705 162,705   162,705      
Reclassification of warrants 20,575 20,575   20,575      
Contributions of interests in consolidated VIEs 29,522           29,522
Return of capital to interests in consolidated VIEs (53,361)           (53,361)
Other comprehensive income (loss) 0            
Net income (loss) (173,562) (193,534)       (193,534) 19,972
Ending balance (in shares) at Jun. 30, 2022 [1]     653,914,375        
Ending balance at Jun. 30, 2022 $ 745,036 572,843 $ 0 878,255 0 (305,412) 172,193
Beginning balance at Mar. 31, 2022 [1] 406,399,029            
Beginning balance (in shares) at Mar. 31, 2022 $ 307,047            
Redeemable Convertible Preferred Shares              
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs (in shares) [1] (406,399,029)            
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs $ (307,047)            
Ending balance at Jun. 30, 2022 [1] 0            
Ending balance (in shares) at Jun. 30, 2022 $ 0            
Beginning balance (in shares) at Mar. 31, 2022 [1]     201,428,023        
Beginning balance at Mar. 31, 2022 163,571 (137) $ 0 130,013 0 (130,150) 163,708
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of ordinary shares upon exercise of share options (in shares) [1]     2,950,275        
Issuance of ordinary shares upon exercise of share options 238 238   238      
Issuance of ordinary shares upon vesting of RSUs (in shares) [1]     4,671        
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs (in shares) [1]     449,531,406        
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs 581,359 581,359   581,359      
Share-based compensation 146,070 146,070   146,070      
Reclassification of warrants 20,575 20,575   20,575      
Contributions of interests in consolidated VIEs 20,975           20,975
Return of capital to interests in consolidated VIEs (23,703)           (23,703)
Other comprehensive income (loss) 0            
Net income (loss) (164,049) (175,262)       (175,262) 11,213
Ending balance (in shares) at Jun. 30, 2022 [1]     653,914,375        
Ending balance at Jun. 30, 2022 $ 745,036 572,843 $ 0 878,255 0 (305,412) 172,193
Beginning balance at Dec. 31, 2022 [1] 0            
Beginning balance (in shares) at Dec. 31, 2022 $ 0            
Redeemable Convertible Preferred Shares              
Issuance of preferred shares, net of issuance costs (in shares) [1] 60,000,000            
Issuance of convertible preferred shares net of issuance costs $ 74,250            
Ending balance at Jun. 30, 2023 [1] 60,000,000            
Ending balance (in shares) at Jun. 30, 2023 $ 74,250            
Beginning balance (in shares) at Dec. 31, 2022 [1]     683,311,591        
Beginning balance at Dec. 31, 2022 $ 765,423 553,520 $ 0 968,432 (713) (414,199) 211,903
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of ordinary shares upon exercise of warrants (in shares) [1]     195,655        
Issuance of ordinary shares upon exercise of share options (in shares) 4,322,994   4,389,173 [1]        
Issuance of ordinary shares upon exercise of share options $ 1,430 1,430   1,430      
Issuance of ordinary shares upon vesting of RSUs (in shares) [1]     2,830,903        
Share-based compensation 39,691 39,691   39,691      
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. (in shares)     18,181,746        
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. 18,134 18,134   18,134      
Reclassification of investments 16,460 (1,881)     (1,881)   18,341
Contributions of interests in consolidated VIEs 15,293           15,293
Return of capital to interests in consolidated VIEs (28,913)           (28,913)
Other comprehensive income (loss) 22,827            
Reclassification of investments 6,367 4,557     4,557   1,810
Net income (loss) (130,762) (92,268)       (92,268) (38,494)
Ending balance (in shares) at Jun. 30, 2023 [1]     708,909,068        
Ending balance at Jun. 30, 2023 $ 703,123 523,183 $ 0 1,027,687 1,963 (506,467) 179,940
Beginning balance at Mar. 31, 2023 [1] 0            
Beginning balance (in shares) at Mar. 31, 2023 $ 0            
Redeemable Convertible Preferred Shares              
Issuance of preferred shares, net of issuance costs (in shares) [1] 60,000,000            
Issuance of convertible preferred shares net of issuance costs $ 74,250            
Ending balance at Jun. 30, 2023 [1] 60,000,000            
Ending balance (in shares) at Jun. 30, 2023 $ 74,250            
Beginning balance (in shares) at Mar. 31, 2023 [1]     704,073,257        
Beginning balance at Mar. 31, 2023 716,440 527,917 $ 0 1,004,346 (1,259) (475,170) 188,523
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of ordinary shares upon exercise of share options (in shares) [1]     2,329,856        
Issuance of ordinary shares upon exercise of share options 946 946   946      
Issuance of ordinary shares upon vesting of RSUs (in shares) [1]     2,505,955        
Share-based compensation 22,395 22,395   22,395      
Contributions of interests in consolidated VIEs 5,165           5,165
Return of capital to interests in consolidated VIEs (16,719)           (16,719)
Other comprehensive income (loss) 7,035 3,222     3,222   3,813
Net income (loss) (32,139) (31,297)       (31,297) (842)
Ending balance (in shares) at Jun. 30, 2023 [1]     708,909,068        
Ending balance at Jun. 30, 2023 $ 703,123 $ 523,183 $ 0 $ 1,027,687 $ 1,963 $ (506,467) $ 179,940
[1] Prior period amounts have been retroactively adjusted to reflect the 1:186.9 stock split effected on June 22, 2022.