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CONSOLIDATED STATEMENT OF CHANGES IN REDEEMABLE CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Series D
Series E
Series B
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 (in shares) at Dec. 31, 2020 [1] 26,817,162                  
Beginning balance at Dec. 31, 2020 $ 105,981                  
Redeemable Convertible Preferred Shares                    
Issuance of preferred shares, net of issuance costs (in shares) [1]   3,821,088 2,917,248              
Issuance of convertible preferred shares net of issuance costs   $ 36,639 $ 136,006              
Issuance of preferred shares upon exercise of warrants (in shares) [1]   83,384   227,700            
Issuance of preferred shares upon exercise of warrants   $ 6,009   $ 22,412            
Ending balance (in shares) at Dec. 31, 2021 [1] 33,866,582                  
Ending balance at Dec. 31, 2021 $ 307,047                  
Beginning balance (in shares) at Dec. 31, 2020 [1]           15,866,428        
Beginning balance at Dec. 31, 2020 $ 88,145       $ 3,200 $ 0 $ 315 $ 0 $ 2,885 $ 84,945
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Issuance of ordinary shares upon exercise of share options (in shares) 329,054         329,055 [1]        
Issuance of ordinary shares upon exercise of share options $ 346       346   346      
Share-based compensation 68,090       68,090   68,090      
Deemed contribution 23,612       23,612   23,612      
Deemed dividend distribution (23,612)       (23,612)       (23,612)  
Issuance and reclassification of warrants 20,807       20,807   20,807      
Contributions of interests in consolidated VIEs 151,035                 151,035
Return of capital to interests in consolidated VIEs (81,548)                 (81,548)
Other comprehensive income (loss) 0                  
Net income (loss) (69,523)       (91,151)       (91,151) 21,628
Ending balance (in shares) at Dec. 31, 2021 [1]           16,195,483        
Ending balance at Dec. 31, 2021 $ 177,352       1,292 $ 0 113,170 0 (111,878) 176,060
Redeemable Convertible Preferred Shares                    
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs (in shares) [1] (33,866,582)                  
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs $ (307,047)                  
Ending balance (in shares) at Dec. 31, 2022 [1] 0                  
Ending balance at Dec. 31, 2022 [2] $ 0                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Issuance of ordinary shares upon exercise of share options (in shares) 1,393,798         1,393,798 [1]        
Issuance of ordinary shares upon exercise of share options $ 1,617       1,617   1,617      
Issuance of ordinary shares upon vesting of RSUs (in shares) [1]           10,242        
Issuance of ordinary shares upon exercise of warrants (in shares) [1]           1,878,280        
Issuance of ordinary shares related to commitment shares (in shares) [1]           3,878        
Issuance of ordinary shares related to commitment shares 1,000       1,000   1,000      
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs (in shares) [1]           37,460,951        
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 250,711       250,711   250,711      
Issuance and reclassification of warrants 20,575       20,575   20,575      
Contributions of interests in consolidated VIEs 105,469                 105,469
Return of capital to interests in consolidated VIEs (77,764)                 (77,764)
Other comprehensive income (loss) (2,122)       (713)     (713)   (1,409)
Net income (loss) (292,774)       (302,321)       (302,321) 9,547
Ending balance (in shares) at Dec. 31, 2022 [1]           56,942,632        
Ending balance at Dec. 31, 2022 $ 765,423       553,520 $ 0 968,432 (713) (414,199) 211,903
Redeemable Convertible Preferred Shares                    
Issuance of preferred shares, net of issuance costs (in shares) [1] 5,000,000                  
Issuance of convertible preferred shares net of issuance costs $ 74,250                  
Ending balance (in shares) at Dec. 31, 2023 [1] 5,000,000                  
Ending balance at Dec. 31, 2023 [2] $ 74,250                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Issuance of ordinary shares upon exercise of share options (in shares) 914,908         925,240 [1]        
Issuance of ordinary shares upon exercise of share options $ 4,334       4,334   4,334      
Issuance of ordinary shares upon vesting of RSUs (in shares) [1]           962,679        
Issuance of ordinary shares upon exercise of warrants (in shares) [1]           99,711        
Issuance of ordinary shares related to commitment shares (in shares) [1]           1,587,157        
Issuance of ordinary shares related to commitment shares 27,892       27,892   27,892      
Share-based compensation 78,721       78,721   78,721      
Reversal of issuance costs associated with the Business Combination and PIPE Investment 4,401       4,401   4,401      
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. (in shares) [1]           1,525,827        
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 19,955                 19,955
Return of capital to interests in consolidated VIEs (64,371)                 (64,371)
Other comprehensive income (loss) 7,999                  
Other comprehensive income (loss) (8,461)       3,038     3,038   (11,499)
Net income (loss) (196,739)       (128,438)       (128,438) (68,301)
Ending balance (in shares) at Dec. 31, 2023 [1]           62,043,246        
Ending balance at Dec. 31, 2023 $ 665,749       $ 559,721 $ 0 $ 1,101,914 $ 444 $ (542,637) $ 106,028
[1] Share amounts have been retroactively adjusted to reflect the 1-for-12 reverse share split effected on March 8, 2024.
[2] Share amounts have been retroactively adjusted to reflect the 1-for-12 reverse share split effected on March 8, 2024.