Company: PGYWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001883085-25-000169
Chunk: 28

Company: Pagaya Technologies Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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30, 2025Level 1Level 2Level 3TotalAssets:Investments in loans and securities (Notes)$— $133,326 $187,869 $321,195 Investments in loans and securities (Certificates)— — 547,101 547,101 Liabilities:Warrant liability$2,471 $— $— $2,471Other liabilities (1)— — 6,697 6,697 December 31, 2024Level 1Level 2Level 3TotalAssets:Investments in loans and securities (Notes) (2)$— $115,220 $125,054 $240,274 Investments in loans and securities (Certificates) (2)— 533,243 533,243 Liabilities:Warrant liability$890$3$—$893Other liabilities (1)— — 6,090 6,090 (1) Included in “Accrued expenses and other liabilities” in the unaudited condensed consolidated balance sheets. See Note 8 for additional information. (2) Accrued interest receivable of $14.3 million, previously reported within “Fee and other receivables” as of December 31, 2024, has been reclassified to conform to the current period’s presentation.Assets and Liabilities Measured at Fair Value on a Recurring Basis (Level 1 and 2)Warrant liability (Level 1)The following tables summarize the Warrant liability activity for the three and six months ended June 30, 2025 and 2024 (in thousands):

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Three Months Ended June 30, 2025Balance as of March 31, 2025$1,992 Change in fair value479 Balance as of June 30, 2025$2,471 Six Months Ended June 30, 2025Balance as of December 31, 2024$893 Change in fair value1,578 Balance as of June 30, 2025$2,471 Three Months Ended June 30, 2024Balance as of March 31, 2024$1,342 Change in fair value329 Balance as of June 30, 2024$1,671 Six Months Ended June 30, 2024Balance as of December 31, 2023$3,242 Change in fair value