Company: PGYWW
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001883085-25-000082
Chunk: 31

Company: Pagaya Technologies Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 assessment, the Company considers both positive and negative evidence related to the likelihood of realization of the deferred tax assets to determine, based on the weight of available evidence, whether it is more likely than not that some or all of the deferred tax assets will not be realized.

The Company provides a valuation allowance to offset certain deferred tax assets due to the uncertainty of realizing future tax benefits from its net operating loss carryforwards and other deferred tax assets. 

NOTE 14 - EARNINGS (LOSS) PER SHARE

The following tables set forth the calculation of basic and diluted earnings (loss) per share attributable to ordinary shareholders for the three months ended March 31, 2025 and 2024 (in thousands, except share and per share data): Three Months Ended March 31, 2025Basic EPS:Numerator:  Net income$7,893   Less: Undistributed earnings allocated to preferred shares489   Net income attributable to Pagaya Technologies Ltd. ordinary shareholders, basic$7,404 Denominator:  Weighted average shares used for earnings per ordinary share, basic75,765,080  Earnings per share attributable to ordinary shareholders, basic$0.10 Diluted EPS:Numerator:  Net income attributable to Pagaya Technologies Ltd. ordinary shareholders, diluted$7,404 Denominator:  Shares used in computation of basic earnings per share75,765,080   Ordinary share warrants 784,762  Unvested RSUs473,300  Ordinary shares upon employee stock purchase plan20,322  Weighted average shares used for earnings per ordinary share, diluted77,043,464   Earnings per share attributable to ordinary shareholders, diluted$0.10 

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Three Months Ended March 31, 2024Numerator:  Net loss attributable to Pagaya Technologies Ltd. ordinary shareholders, basic and diluted$(21,223)Denominator:  Weighted average shares used for net loss per ordinary share, basic and diluted64,504,458  Net loss per share attributable to ordinary shareholders, basic and diluted$(0.33)EPS for Class B ordinary shares is not presented separately, as under the two-class method, the EPS for Class A and Class B shares are the same.The following potentially dilutive outstanding securities as of March 31, 2025 and 2024 were excluded from the computation of diluted earnings (loss) per share because their effect would have been anti-d