Company: PGYWW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001883085-25-000195
Chunk: 7

Company: Pagaya Technologies Ltd.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 of these condensed consolidated financial statements

6

PAGAYA TECHNOLOGIES LTD. 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(In thousands) 

Nine Months Ended September 30,20252024Cash flows from operating activitiesNet income (loss) including noncontrolling interests$42,328 $(188,572)Adjustments to reconcile net income (loss) to net cash used in operating activities:Equity method loss7,086 699 Depreciation and amortization22,951 20,475 Share-based compensation44,982 45,852 Fair value adjustment to warrant liability6,486 (358)(Gains) and losses on investments in loans and securities (1)65,473 157,513 Amortization of deferred costs8,250 2,065 Loss from extinguishment of debt18,585 — Write-off of capitalized software and other assets4,741 3,145 Loss on foreign exchange 1,092 4,178 Other non-cash items— 367   Change in operating assets and liabilities:Fees receivables (1)(28,178)(14,627)Accrued interest on investments (1)(28,467)(16,818)Right-of-use assets4,598 1,462 Other assets1,438 (8,213)Accounts payable4,597 4,607 Accrued expenses and other liabilities2,737 4,121 Operating lease liability(4,669)(441)Income taxes(15,207)4,442 Net cash provided by operating activities158,823 19,897 Cash flows from investing activitiesProceeds from the sale/maturity/prepayment of:Investments in loans and securities (1)178,196 104,465 Equity method and other investments— 31 Payments for the purchase of:Investments in loans and securities(361,070)(538,727)Property, equipment and software(10,816)(13,761)Equity method and other investments— (125)Other assets (2)(16,000)— Acquisition of Theorem Technology, Inc., net of cash acquired159 — Net cash used in investing activities(209,531)(448,117)Cash flows from financing activitiesProceeds from sale of ordinary shares, net of issuance costs— 89,956 Proceeds from long-term debt500