Company: PGYWW
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001883085-25-000082
Chunk: 2

Company: Pagaya Technologies Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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UNAUDITED)

(In thousands, except share and per share data) 

Three Months Ended March 31,20252024RevenueRevenue from fees (including related party revenues of $167,876 and $178,511 for the three months ended March 31, 2025 and 2024, respectively)$282,704 $237,004 Other IncomeInterest income7,676 7,744 Investment (loss) income (1)(391)528 Total Revenue and Other Income289,989 245,276 Production costs167,083 144,881 Technology, data and product development19,444 19,380 Sales and marketing9,594 10,257 General and administrative46,183 63,068 Total Costs and Operating Expenses242,304 237,586 Operating Income47,685 7,690 Other expenses, net(47,733)(34,349)Loss Before Income Taxes(48)(26,659)Income tax (benefit) expense(2,540)5,003 Net Income (Loss) Including Noncontrolling Interests2,492 (31,662)Less: Net loss attributable to noncontrolling interests(5,401)(10,439)Net Income (Loss) Attributable to Pagaya Technologies Ltd.$7,893 $(21,223)Per share data:Net income (loss) attributable to Pagaya Technologies Ltd.$7,893 $(21,223)Less: Undistributed earnings allocated to preferred shares489 — Net income (loss) attributed to Pagaya Technologies Ltd.’s ordinary shares$7,404 $(21,223)Earnings (loss) per share attributable to Pagaya Technologies Ltd.:Basic$0.10 $(0.33)Diluted$0.10 $(0.33)Weighted average shares outstanding:Basic75,765,080 64,504,458 Diluted77,043,464 64,504,458 

(1) Includes income from proprietary investments. 

The accompanying notes are an integral part of these condensed consolidated financial statements

3

PAGAYA TECHNOLOGIES LTD. 

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED)

(In thousands)

Three Months Ended March 31,20252024Net Income (Loss) Including Noncontrolling Interests$2,492 $(31,662)Other Comprehensive Income:Un