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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents
The following table provides a reconciliation of cash and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the consolidated statements of cash flow (in thousands):

December 31,
20242023
(in thousands)
Cash and cash equivalents$187,921 $186,478 
Restricted cash18,595 16,874 
Restricted cash, non-current20,002 19,189 
Cash, cash equivalents and restricted cash$226,518 $222,541 
Schedule of Restrictions on Cash and Cash Equivalents
The following table provides a reconciliation of cash and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the consolidated statements of cash flow (in thousands):

December 31,
20242023
(in thousands)
Cash and cash equivalents$187,921 $186,478 
Restricted cash18,595 16,874 
Restricted cash, non-current20,002 19,189 
Cash, cash equivalents and restricted cash$226,518 $222,541 
Schedule of Equity Method Investments
The following investments, including those accounted for under the equity method, are included within Equity method and other investments in the consolidated balance sheets as of December 31, 2024 and December 31, 2023 (in thousands):

Carrying Value
December 31, 2024December 31, 2023
Investments in Pagaya SmartResi F1 Fund, LP (1)$12,530 $17,357 
Other (2)9,403 9,026 
Total$21,933 $26,383 

(1) The Company owns approximately 5.4% and is the general partner of Pagaya Smartresi F1 Fund LP.
(2) Represents the Company’s proprietary investments. Income from these investments is included in Investment income in the consolidated statements of operations.
Schedule of Property and Equipment, Net Useful lives by asset category are as follows:
Computer and software
3 to 7 years
Furniture and equipment
3 to 7 years
Internal-use software
2 years
Leasehold improvements
Shorter of remaining lease term or estimated useful life
Property and equipment, net, consist of the following as of December 31, 2024 and 2023 (in thousands):
 
December 31,December 31,
20242023
Internal-use software $85,808 $61,482 
Computer and software5,406 5,013 
Furniture and equipment878 843 
Leasehold improvements1,080 949 
Property and equipment, gross93,172 68,287 
Less: accumulated depreciation and amortization(55,198)(26,730)
Property and equipment, net$37,974 $41,557