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CONSOLIDATED STATEMENTS OF CHANGES IN REDEEMABLE CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Private Placement, Ordinary Share Offering
Private Placement, Equity Financing Purchase Agreement
Total Pagaya Technologies Ltd. Shareholders’ Equity
Total Pagaya Technologies Ltd. Shareholders’ Equity
Private Placement, Ordinary Share Offering
Total Pagaya Technologies Ltd. Shareholders’ Equity
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 (Loss) Income
Accumulated Deficit
Non-Controlling Interests
Beginning balance (in shares) at Dec. 31, 2021 [1] 33,866,582                            
Beginning balance at Dec. 31, 2021 $ 307,047                            
Redeemable Convertible Preferred Shares                              
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs (in shares) [1] (33,866,582)                            
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs $ (307,047)                            
Ending balance (in shares) at Dec. 31, 2022 [1] 0                            
Ending balance at Dec. 31, 2022 $ 0                            
Beginning balance (in shares) at Dec. 31, 2021 [1]             16,195,483                
Beginning balance at Dec. 31, 2021 $ 177,352     $ 1,292           $ 113,170     $ 0 $ (111,878) $ 176,060
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Issuance of ordinary shares upon exercise of share options (in shares) 1,393,798           1,393,798 [1]                
Issuance of ordinary shares upon exercise of share options $ 1,617     1,617           1,617          
Issuance of ordinary shares upon vesting of RSUs (in shares) [1]             10,242                
Issuance of ordinary shares upon exercise of warrants (in shares) [1]             1,878,280                
Issuance of ordinary shares related to commitment shares (in shares) [1]             3,878                
Issuance of ordinary shares related to commitment shares 1,000     1,000           1,000          
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs (in shares) [1]             37,460,951                
Issuance of ordinary shares in connection with the Merger and PIPE Investment, net of issuance costs 581,359     581,359           581,359          
Share-based compensation 250,711     250,711           250,711          
Reclassification of warrants 20,575     20,575           20,575          
Contributions of interests in consolidated VIEs 105,469                           105,469
Return of capital to interests in consolidated VIEs (77,764)                           (77,764)
Other comprehensive income (loss) (2,122)     (713)                 (713)   (1,409)
Net income (loss) (292,774)     (302,321)                   (302,321) 9,547
Ending balance (in shares) at Dec. 31, 2022 [1]             56,942,632                
Ending balance at Dec. 31, 2022 $ 765,423     553,520           968,432     (713) (414,199) 211,903
Redeemable Convertible Preferred Shares                              
Issuance of preferred shares, net of issuance costs (in shares) [1] 5,000,000                            
Issuance of preferred shares, net of issuance costs $ 74,250                            
Ending balance (in shares) at Dec. 31, 2023 [1] 5,000,000                            
Ending balance at Dec. 31, 2023 [2] $ 74,250                            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Issuance of ordinary shares upon exercise of share options (in shares) 914,908           925,240 [1]                
Issuance of ordinary shares upon exercise of share options $ 4,334     4,334           4,334          
Issuance of ordinary shares upon vesting of RSUs (in shares) [1]             962,679                
Issuance of ordinary shares upon exercise of warrants (in shares) [1]             99,711                
Issuance of ordinary shares related to commitment shares (in shares) [1]             1,587,157                
Issuance of ordinary shares related to commitment shares 27,892     27,892           27,892          
Share-based compensation 78,721     78,721           78,721          
Reversal of issuance costs associated with the Business Combination and PIPE Investment 4,401     4,401           4,401          
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. (in shares) [1]             1,525,827                
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. 18,134     18,134           18,134          
Reclassification of investments 16,460     (1,881)                 (1,881)   18,341
Contributions of interests in consolidated VIEs 19,955                           19,955
Return of capital to interests in consolidated VIEs (64,371)                           (64,371)
Other comprehensive income (loss) (8,461)     3,038                 3,038   (11,499)
Net income (loss) (196,739)     (128,438)                   (128,438) (68,301)
Ending balance (in shares) at Dec. 31, 2023 [1]             62,043,246                
Ending balance at Dec. 31, 2023 $ 665,749     559,721           1,101,914     444 (542,637) 106,028
Ending balance (in shares) at Dec. 31, 2024 [1] 5,000,000                            
Ending balance at Dec. 31, 2024 [2] $ 74,250                            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Issuance of ordinary shares upon exercise of share options (in shares) 571,989           586,847 [1]                
Issuance of ordinary shares upon exercise of share options $ 2,640     2,640           2,640          
Issuance of ordinary shares upon vesting of RSUs (in shares) [1]             2,371,735                
Issuance of ordinary shares related to commitment shares (in shares) [1]               7,500,000 814,569            
Issuance of ordinary shares related to commitment shares   $ 89,956 $ 12,232   $ 89,956 $ 12,232         $ 89,956 $ 12,232      
Issuance of ordinary shares upon employee stock purchase plan (in shares) [1]             59,145                
Issuance of ordinary shares upon employee stock purchase plan 665     665           665          
Share-based compensation 68,646     68,646           68,646          
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. (in shares) [1]             504,440                
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. 5,969     5,969           5,969          
Contributions of interests in consolidated VIEs 63,960                           63,960
Return of capital to interests in consolidated VIEs (9,820)                           (9,820)
Other comprehensive income (loss) (12,753)     (11,932)                 (11,932)   (821)
Net income (loss) (445,698)     (401,406)                   (401,406) (44,292)
Ending balance (in shares) at Dec. 31, 2024 [1]             73,879,982                
Ending balance at Dec. 31, 2024 $ 441,546     $ 326,491           $ 1,282,022     $ (11,488) $ (944,043) $ 115,055
[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.