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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 186,478 $ 309,793
Restricted cash 16,874 22,539
Fees and other receivables (including related party receivables of $51,036 and $49,427 as of December 31, 2023 and December 31, 2022, respectively) 79,526 59,219
Investments in loans and securities 2,490 1,007
Prepaid expenses and other current assets (including related party assets of $7,896 and $18,783 as of December 31, 2023 and December 31, 2022, respectively) 18,034 27,258
Total current assets 303,402 419,816
Restricted cash 19,189 4,744
Fees and other receivables (including related party receivables of $33,739 and $38,332 as of December 31, 2023 and December 31, 2022, respectively) 34,181 38,774
Investments in loans and securities 714,303 462,969
Equity method and other investments 26,383 25,894
Right-of-use assets 55,729 61,077
Property and equipment, net 41,557 31,663
Goodwill 10,945 0
Intangible assets 2,550 0
Prepaid expenses and other assets 137 142
Total non-current assets 904,974 625,263
Total Assets 1,208,376 1,045,079
Current liabilities:    
Accounts payable 1,286 1,739
Accrued expenses and other liabilities 28,562 49,496
Current maturities of operating lease liabilities 6,931 8,530
Secured borrowing 37,685 61,829
Income taxes payable 461 6,424
Total current liabilities 74,925 128,018
Non-current liabilities:    
Warrant liability 3,242 1,400
Revolving credit facility 90,000 15,000
Secured borrowing 234,028 77,802
Operating lease liabilities 43,940 49,097
Long-term tax liabilities 22,135 7,771
Deferred tax liabilities, net 107 568
Total non-current liabilities 393,452 151,638
Total Liabilities 468,377 279,656
Redeemable convertible preferred shares, no par value, 6,666,666 shares authorized, 5,000,000 shares issued and outstanding as of December 31, 2023; aggregate liquidation preference of $150,000 as of December 31, 2023. (1) [1] 74,250 0
Shareholders’ equity:    
Additional paid-in capital 1,101,914 968,432
Accumulated other comprehensive income (loss) 444 (713)
Accumulated deficit (542,637) (414,199)
Total Pagaya Technologies Ltd. shareholders’ equity 559,721 553,520
Noncontrolling interests 106,028 211,903
Total shareholders’ equity 665,749 765,423
Total Liabilities, Redeemable Convertible Preferred Shares, and Shareholders’ Equity 1,208,376 1,045,079
Common Class A    
Shareholders’ equity:    
Common stock [1] 0 0
Common Class B    
Shareholders’ equity:    
Common stock [1] $ 0 $ 0
[1] Share amounts have been retroactively adjusted to reflect the 1-for-12 reverse share split effected on March 8, 2024.