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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 233,593 $ 186,478
Restricted cash 17,469 16,874
Fees and other receivables (including related party receivables of $55,549 and $51,036 as of June 30, 2024 and December 31, 2023, respectively) 93,460 79,526
Investments in loans and securities 1,663 2,490
Prepaid expenses and other current assets (including related party assets of $6,406 and $7,896 as of June 30, 2024 and December 31, 2023, respectively) 15,012 18,034
Total current assets 361,197 303,402
Restricted cash 16,864 19,189
Fees and other receivables (including related party receivables of $32,987 and $33,739 as of June 30, 2024 and December 31, 2023, respectively) 32,987 34,181
Investments in loans and securities 909,762 714,303
Equity method and other investments 26,593 26,383
Right-of-use assets 51,631 55,729
Property and equipment, net 40,628 41,557
Goodwill 10,945 10,945
Intangible assets 1,275 2,550
Prepaid expenses and other assets 1,095 137
Total non-current assets 1,091,780 904,974
Total Assets 1,452,977 1,208,376
Current liabilities:    
Accounts payable 7,303 1,286
Accrued expenses and other liabilities 36,090 28,562
Current maturities of operating lease liabilities 6,427 6,931
Current portion of long-term debt 12,750 0
Secured borrowing 176,223 37,685
Income taxes payable 2,461 461
Total current liabilities 241,254 74,925
Non-current liabilities:    
Warrant liability 1,671 3,242
Revolving credit facility 0 90,000
Long-term debt 219,842 0
Secured borrowing 223,998 234,028
Operating lease liabilities 39,529 43,940
Long-term tax liabilities 36,752 22,135
Deferred tax liabilities, net 107 107
Total non-current liabilities 521,899 393,452
Total Liabilities 763,153 468,377
Redeemable convertible preferred shares, no par value, 6,666,666 shares authorized, 5,000,000 shares issued and outstanding as of June 30, 2024; aggregate liquidation preference of $150,000 as of June 30, 2024. [1] 74,250 74,250
Shareholders’ equity:    
Additional paid-in capital 1,235,677 1,101,914
Accumulated other comprehensive income (loss) (71,050) 444
Accumulated deficit (638,645) (542,637)
Total Pagaya Technologies Ltd. shareholders’ equity 525,982 559,721
Noncontrolling interests 89,592 106,028
Total shareholders’ equity 615,574 665,749
Total Liabilities, Redeemable Convertible Preferred Shares, and Shareholders’ Equity 1,452,977 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.