Company: PGYWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001883085-25-000169
Chunk: 152

Company: Pagaya Technologies Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 152
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121 $663,189 $626,368 Transfer from Level 2—— — 10,469 Additions182,259 146,821 248,978 406,696 Cash received(60,706)(19,559)(108,016)(42,572)Gain on sale of Investments in loans and securities2,699 — 8,593 — Change in accrued interest on investments5,659 — 8,937 — Change in fair value (OCI)(5,849)(45,905)(21,795)(67,632)Credit-related impairment loss, net of recoveries(28,944)(53,060)(63,151)(79,911)Balance, end of period$736,735$853,418$736,735$853,418Significant unobservable inputs used for our Level 3 fair value measurement of the loans and securities and credit losses are the discount rate, loss rate, and prepayment rate and consideration of any optional redemption features in our investment securities. Significant increases or decreases in any of the inputs in isolation could result in a significantly lower or higher fair value measurement. The following tables present quantitative information about the significant unobservable inputs used for our Level 3 fair value measurement of the loans and securities as of June 30, 2025 and December 31, 2024: June 30, 2025December 31, 2024Unobservable InputMinimumMaximumWeighted AverageMinimumMaximumWeighted AverageDiscount rate5.0 %15.0 %15.0 %5.0 %15.0 %15.0 %Loss rate5.8 %34.1 %17.6 %5.8 %34.1 %19.5 %Prepayment rate0.0 %39.0 %13.3 %0.0 %40.0 %9.4 %Financial Assets and Liabilities Not Recorded at Fair ValueThe Company believes that the carrying amount of cash, cash equivalents and restricted cash, fees and other receivables, accounts payables and other current liabilities approximate their fair value due to the short-term maturities of these instruments. The below tables contain information about assets that are not measured at fair value on a recurring basis as of June 30, 2025 and December 31, 2024 (in thousands): June 30, 2025Fair Value