Company: PGYWW
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001883085-25-000050
Chunk: 77

Company: Pagaya Technologies Ltd.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 16
Chunk 77
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 has an accumulated tax loss carry forward of approximately $58.5 million in Israel and $26.3 million federal losses in the U.S which can be offset with the limitation as described in Section 382 of the IRS Code due to U.S subsidiary prior change in ownership. These losses do not have an expiration date.Uncertain Tax Positions A reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits is as follows (in thousands): December 31,20242023Uncertain tax positions, beginning of the year$22,135 $7,770 (Decrease) increase in tax positions for prior years(13,001)865 Increases related to current year tax positions21,622 13,082 Revaluation414 418 Uncertain tax positions, end of year$31,170 $22,135 As of December 31, 2024 and 2023, unrecognized tax benefits of $31.2 million and $22.1 million, respectively, if recognized, would affect our effective tax rate in a future period. The Company currently does not expect uncertain tax positions to change significantly over the next twelve months.The Company accrued and due to interest and penalties related to uncertain tax positions as of Interest and penalties recorded during the years ended December 31, 2024, 2023, and 2022 were immaterial.

F-43

Table of Contents

Tax AssessmentsAs of December 31, 2024, the Company has final tax assessments in Israel through 2019 and in the U.S. through 2020.

NOTE 18 - NET LOSS PER SHARE

Net income (loss) per share is presented in conformity with the two-class method required for multiple classes of ordinary share and participating securities. Basic net income per share is computed using the weighted-average number of shares outstanding during the period. Diluted net income per share is computed using the weighted-average number of shares and the effect of potentially dilutive securities outstanding during the period. Potentially dilutive securities consist of share options, restricted stock units and other contingently issuable shares. The dilutive effect of outstanding share options, restricted stock units and other contingently issuable shares is reflected in diluted earnings per share by application of the treasury stock method. The Company has two classes of ordinary share subsequent to the EJFA Merger on June 22, 2022: Class A and Class B. See Note 3 for additional information. The computation of the diluted net