Company: PGYWW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001883085-25-000169
Chunk: 30

Company: Pagaya Technologies Ltd.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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observable 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 ValueCarryingValueLevel 1Level 2Level 3TotalAssets:Cash, cash equivalents and restricted cash$242,033 $242,033 $— $— $242,033 Fees and other receivables149,184 — 78,499 70,684 149,183 Investments in other loans and receivables1,765 — — 1,765 1,765 Liabilities:Long-term debt$314,547 $— $— $346,702$346,702Exchangeable notes147,526 — 283,462 — 283,462 Secured borrowing265,557 — — 269,706 269,706 

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December 31, 2024Fair ValueCarryingValueLevel 1