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CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN REDEEMABLE CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS’ EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Private Placement, Ordinary Share Offering
Private Placement, Equity Financing Purchase Agreement
Total Pagaya Technologies Ltd. Shareholders’ Equity (Deficit)
Total Pagaya Technologies Ltd. Shareholders’ Equity (Deficit)
Private Placement, Ordinary Share Offering
Total Pagaya Technologies Ltd. Shareholders’ Equity (Deficit)
Private Placement, Equity Financing Purchase Agreement
Ordinary Shares (Class A and Class B)
Ordinary Shares (Class A and Class B)
Private Placement, Ordinary Share Offering
Ordinary Shares (Class A and Class B)
Private Placement, Equity Financing Purchase Agreement
Additional Paid-In Capital
Additional Paid-In Capital
Private Placement, Ordinary Share Offering
Additional Paid-In Capital
Private Placement, Equity Financing Purchase Agreement
Accumulated Other Comprehensive Income (Loss)
Retained Earnings (Accumulated Deficit)
Non-Controlling Interests
Beginning balance at Dec. 31, 2022 $ 0                            
Ending balance at Mar. 31, 2023 0                            
Beginning balance (in shares) at Dec. 31, 2022 [1]             56,942,632                
Beginning balance at Dec. 31, 2022 765,423     $ 553,520           $ 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]             16,304                
Issuance of ordinary shares upon exercise of share options (in shares) [1]             171,609                
Issuance of ordinary shares upon exercise of share options 484     484           484          
Issuance of ordinary shares upon vesting of RSUs (in shares) [1]             27,079                
Share-based compensation 17,296     17,296           17,296          
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. (in shares) [1]             1,515,145                
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. 18,134     18,134           18,134          
Contributions of interests in consolidated VIEs 10,128                           10,128
Return of capital to interests in consolidated VIEs (12,194)                           (12,194)
Other comprehensive income (loss) 15,792     (546)                 (546)   16,338
Net income (loss) (98,623)     (60,971)                   (60,971) (37,652)
Ending balance (in shares) at Mar. 31, 2023 [1]             58,672,769                
Ending balance at Mar. 31, 2023 716,440     527,917           1,004,346     (1,259) (475,170) 188,523
Beginning balance at Dec. 31, 2023 [2] $ 74,250                            
Ending balance (in shares) at Mar. 31, 2024 5,000,000                            
Ending balance at Mar. 31, 2024 [2] $ 74,250                            
Beginning balance (in shares) at Dec. 31, 2023 [1]             62,043,246                
Beginning balance at Dec. 31, 2023 $ 665,749     559,721           1,101,914     444 (542,637) 106,028
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Issuance of ordinary shares upon exercise of share options (in shares) 97,339           100,613 [1]                
Issuance of ordinary shares upon exercise of share options $ 161     161           161          
Issuance of ordinary shares upon vesting of RSUs (in shares) [1]             660,447                
Share-based compensation 17,618     17,618           17,618          
Issuance of ordinary shares from the Equity Financing Purchase Agreement (in shares) [1]               7,500,000 298,057            
Issuance of ordinary shares from the Equity Financing Purchase Agreement   $ 89,938 $ 5,338   $ 89,938 $ 5,338         $ 89,938 $ 5,338      
Contributions of interests in consolidated VIEs 2,815                           2,815
Return of capital to interests in consolidated VIEs (2,515)                           (2,515)
Other comprehensive income (loss) (21,531)     (24,723)                 (24,723)   3,192
Net income (loss) (31,662)     (21,223)                   (21,223) (10,439)
Ending balance (in shares) at Mar. 31, 2024 [1]             70,602,363                
Ending balance at Mar. 31, 2024 $ 725,911     $ 626,830           $ 1,214,969     $ (24,279) $ (563,860) $ 99,081
[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.