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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 274,495 $ 186,478
Restricted cash 16,872 16,874
Fees and other receivables (including related party receivables of $53,916 and $51,036 as of March 31, 2024 and December 31, 2023, respectively) 87,370 79,526
Investments in loans and securities 1,298 2,490
Prepaid expenses and other current assets (including related party assets of $7,090 and $7,896 as of March 31, 2024 and December 31, 2023, respectively) 19,059 18,034
Total current assets 399,094 303,402
Restricted cash 18,681 19,189
Fees and other receivables (including related party receivables of $34,792 and $33,739 as of March 31, 2024 and December 31, 2023, respectively) 35,230 34,181
Investments in loans and securities 892,853 714,303
Equity method and other investments 26,911 26,383
Right-of-use assets 53,631 55,729
Property and equipment, net 42,757 41,557
Goodwill 10,945 10,945
Intangible assets 1,913 2,550
Prepaid expenses and other assets 1,172 137
Total non-current assets 1,084,093 904,974
Total Assets 1,483,187 1,208,376
Current liabilities:    
Accounts payable 3,136 1,286
Accrued expenses and other liabilities 36,712 28,562
Current maturities of operating lease liabilities 6,663 6,931
Current portion of long-term debt 12,750 0
Secured borrowing 108,054 37,685
Income taxes payable 2,069 461
Total current liabilities 169,384 74,925
Non-current liabilities:    
Warrant liability 1,342 3,242
Revolving credit facility 0 90,000
Long-term debt 222,298 0
Secured borrowing 223,102 234,028
Operating lease liabilities 41,838 43,940
Long-term tax liabilities 24,955 22,135
Deferred tax liabilities, net 107 107
Total non-current liabilities 513,642 393,452
Total Liabilities 683,026 468,377
Redeemable convertible preferred shares, no par value, 6,666,666 shares authorized, 5,000,000 shares issued and outstanding as of March 31, 2024; aggregate liquidation preference of $150,000 as of March 31, 2024. [1] 74,250 74,250
Shareholders’ equity:    
Additional paid-in capital 1,214,969 1,101,914
Accumulated other comprehensive income (loss) (24,279) 444
Accumulated deficit (563,860) (542,637)
Total Pagaya Technologies Ltd. shareholders’ equity 626,830 559,721
Noncontrolling interests 99,081 106,028
Total shareholders’ equity 725,911 665,749
Total Liabilities, Redeemable Convertible Preferred Shares, and Shareholders’ Equity 1,483,187 1,208,376
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.