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

Company: Pagaya Technologies Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 tables present quantitative information about the significant unobservable inputs used for our Level 3 fair value measurement of the loans and securities as of March 31, 2025 and December 31, 2024: 

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March 31, 2025December 31, 2024Unobservable InputMinimumMaximumWeighted AverageMinimumMaximumWeighted AverageDiscount rate5.0 %15.0 %15.0 %5.0 %15.0 %15.0 %Loss rate5.7 %34.2 %18.1 %5.8 %34.1 %19.5 %Prepayment rate0.0 %63.0 %10.6 %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 March 31, 2025 and December 31, 2024 (in thousands): March 31, 2025Fair ValueCarryingValueLevel 1Level 2Level 3TotalAssets:Cash, cash equivalents and restricted cash$229,634 $229,634 $— $— $229,634 Fees and other receivables135,970 — 68,891 67,079 135,970 Liabilities:Long-term debt$317,919 $— $— $360,522$360,522Exchangeable notes146,925 — 179,214 — 179,214 Secured borrowing178,749 — — 180,706 180,706 December 31, 2024Fair ValueCarryingValueLevel 1Level 2Level 3TotalAssets:Cash, cash equivalents and restricted cash$226,518 $226,518 $— $— $226,518 Fees and other receivables (1)127,114 — 63,143 63,971 127,114 Liabilities:Long-term debt$321,317 $— $— $366,396 $366,396 Exchange