Company: PGYWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001883085-25-000169
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Company: Pagaya Technologies Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
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Item 1. Financial Statements

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Table of Contents

PAGAYA TECHNOLOGIES LTD. 

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(In thousands, except share amounts)

June 30,December 31,20252024AssetsCurrent assets:Cash and cash equivalents$182,986 $187,921 Restricted cash23,845 18,595 Fees and other receivables (1)(2)118,475 97,932 Investments in loans and securities (1)21,519 22,087 Prepaid expenses and other current assets (2)15,648 24,944 Total current assets362,473 351,479 Non-current assets:Restricted cash35,203 20,002 Fees and other receivables (2)30,709 29,182 Investments in loans and securities848,542 756,322 Equity method and other investments19,487 21,933 Right-of-use assets33,726 36,876 Property and equipment, net34,449 37,974 Goodwill22,903 23,062 Intangible assets, net10,521 12,821 Prepaid expenses and other assets1,030 1,421 Total non-current assets1,036,570 939,593 Total Assets$1,399,043 $1,291,072 Liabilities and Shareholders’ EquityCurrent liabilities:Accounts payable$9,191 $6,992 Accrued expenses and other liabilities 39,882 45,362 Current maturities of operating lease liabilities6,931 6,453 Current portion of long-term debt17,750 17,750 Secured borrowing165,416 109,079 Income taxes payable15,303 9,858 Total current liabilities254,473 195,494 Non-current liabilities:Warrant liability2,471 893 Long-term debt296,797 303,567 Exchangeable notes147,526 146,342 Secured borrowing100,141 67,010 Operating lease liabilities29,153 30,611 Long-term tax and deferred tax liabilities, net26,253 31,359 Total non-current liabilities602,341 579,782 Total Liabilities856,814 775,276 Redeemable convertible preferred shares, no par value,