Company: PGYWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001883085-25-000169
Chunk: 60

Company: Pagaya Technologies Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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 29,254 23,588 Add: General and administrative40,349 64,449 86,532 127,517 Less: Interest income10,739 8,193 18,415 15,937 Less: Investment (loss) income, net(2,055)(443)(2,446)85 Fee Revenue Less Production Costs (FRLPC)$126,249 $96,992 $241,870 $189,115 Network Volume (in millions)$2,648 $2,331 $5,048 $4,750 Fee Revenue Less Production Costs % (FRLPC %)4.8 %4.2 %4.8 %4.0 %

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Net Income (Loss) Attributable to Pagaya Technologies Ltd.$16,655 $(74,785)$24,548 $(96,008)Adjusted to exclude the following:Share-based compensation18,228 18,044 31,400 33,519 Fair value adjustment to contingent liability(2,205)— (5,389)— Fair value adjustment to warrant liability479 329 1,578 (1,571)Impairment loss on certain investments, net15,011 58,179 44,522 77,662 Write-off of capitalized software— 2,561 — 2,561 Restructuring expenses263 2,725 1,225 3,545 Transaction-related expenses9 135 23 535 Non-recurring expenses2,184 — 5,906 276 Adjusted Net Income$50,624 $7,188 $103,813 $20,519 Adjusted to exclude the following:Interest expenses23,088 21,563 44,300 36,727 Income tax expenses4,978 14,512 2,438 19,515 Depreciation and amortization7,593 7,042 15,315 13,359 Adjusted EBITDA$86,283 $50,305 $165,866 $90,120 

Liquidity and Capital Resources

As of June 30, 2025 and December 31, 2024, the principal sources of liquidity were cash, cash equivalents, current and non-current