Company: PGYWW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001883085-25-000195
Chunk: 1

Company: Pagaya Technologies Ltd.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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,288,577 and 12,652,310 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively.— — Additional paid-in capital1,380,535 1,282,022 Accumulated other comprehensive loss(45,290)(11,488)Accumulated deficit(896,950)(944,043)Total Pagaya Technologies Ltd. shareholders’ equity438,295 326,491 Noncontrolling interests97,540 115,055 Total shareholders’ equity535,835 441,546 Total Liabilities, Redeemable Convertible Preferred Shares, and Shareholders’ Equity$1,455,376 $1,291,072 

(1) Accrued interest receivable of $14.3 million, previously reported within “Fee receivables” as of December 31, 2024, has been reclassified to “Investment in loans and securities” to conform to the current period’s presentation.

(2) See Note 9 for additional information regarding the transactions with related parties. 

The accompanying notes are an integral part of these condensed consolidated financial statements

2

Table of Contents

PAGAYA TECHNOLOGIES LTD. 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(In thousands, except share and per share data) 

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024RevenueRevenue from fees (1)$339,887 $249,283 $940,305 $728,881 Other IncomeInterest income14,918 8,735 33,333 24,672 Investment loss, net(4,640)(784)(7,086)(699)Total Revenue and Other Income350,165 257,234 966,552 752,854 Production costs200,574 148,965 559,122 439,448 Technology, data and product development18,236 16,655 56,135 57,970 Sales and marketing14,453 11,440 43,707 35,028 General and administrative36,944 57,790 123,476 185,307 Total Costs and Operating Expenses270,207 234,850 782,440 717,753 Operating Income79,958 22,384 184,112 35,101 Gains