Company: PGYWW
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001883085-25-000082
Chunk: 0

Company: Pagaya Technologies Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 0
---
Item 1. Financial Statements

1

Table of Contents

PAGAYA TECHNOLOGIES LTD. 

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(In thousands, except share amounts)

March 31,December 31,20252024AssetsCurrent assets:Cash and cash equivalents$186,797 $187,921 Restricted cash18,123 18,595 Fees and other receivables (including related party receivables of $62,141 and $70,198 as of March 31, 2025 and December 31, 2024, respectively) (1)107,543 97,932 Investments in loans and securities (1)19,665 22,087 Prepaid expenses and other current assets (including related party assets of $15,662 and $15,180 as of March 31, 2025 and December 31, 2024, respectively)23,435 24,944 Total current assets355,563 351,479 Non-current assets:Restricted cash24,714 20,002 Fees and other receivables (including related party receivables of $28,603 and $29,182 as of March 31, 2025 and December 31, 2024, respectively)28,427 29,182 Investments in loans and securities740,828 756,322 Equity method and other investments21,543 21,933 Right-of-use assets35,371 36,876 Property and equipment, net36,135 37,974 Goodwill22,903 23,062 Intangible assets, net11,671 12,821 Prepaid expenses and other assets1,210 1,421 Total non-current assets922,802 939,593 Total Assets$1,278,365 $1,291,072 Liabilities and Shareholders’ EquityCurrent liabilities:Accounts payable$10,006 $6,992 Accrued expenses and other liabilities 33,621 45,362 Current maturities of operating lease liabilities6,574 6,453 Current portion of long-term debt17,750 17,750 Secured borrowing118,058 109,079 Income taxes payable12,686 9,858 Total current liabilities198,695 195,494 Non-current liabilities:Warrant liability1,992