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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue        
Revenue from fees (including related party revenues of $175,333 and $148,198 for the three months ended June 30, 2024 and 2023, respectively, and $353,844 and $301,991 for the six months ended June 30, 2024 and 2023, respectively) $ 242,594 $ 185,685 $ 479,598 $ 360,939
Other Income        
Interest income 8,193 10,193 15,937 20,590
Investment income (loss) [1] (443) (266) 85 721
Total Revenue and Other Income 250,344 195,612 495,620 382,250
Production costs 145,602 120,613 290,483 245,670
Technology, data and product development 21,935 17,663 41,315 38,794
Sales and marketing 13,331 14,558 23,588 28,858
General and administrative 64,449 53,016 127,517 104,142
Total Costs and Operating Expenses 245,317 205,850 482,903 417,464
Operating Income (Loss) 5,027 (10,238) 12,717 (35,214)
Other expenses, net (73,194) (16,895) (107,543) (83,875)
Loss Before Income Taxes (68,167) (27,133) (94,826) (119,089)
Income tax expense 14,512 5,006 19,515 11,673
Net Loss Including Noncontrolling Interests (82,679) (32,139) (114,341) (130,762)
Less: Net loss attributable to noncontrolling interests (7,894) (842) (18,333) (38,494)
Net Loss Attributable to Pagaya Technologies Ltd. $ (74,785) $ (31,297) $ (96,008) $ (92,268)
Net loss per share attributable to Pagaya Technologies Ltd.:        
Basic (in dollars per share) [2] $ (1.04) $ (0.53) $ (1.41) $ (1.55)
Diluted (in dollars per share) [2] $ (1.04) $ (0.53) $ (1.41) $ (1.55)
Weighted average shares outstanding:        
Basic (in shares) [2] 71,765,884 59,609,788 68,113,860 59,386,974
Diluted (in shares) 71,765,884 59,609,788 68,113,860 59,386,974
[1] Includes income from proprietary investments.
[2] Share amounts have been retroactively adjusted to reflect the 1-for-12 reverse share split effected on March 8, 2024.