Company: PGYWW
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001883085-25-000082
Chunk: 75

Company: Pagaya Technologies Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 75
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Earnings (loss) per share attributable to Pagaya Technologies Ltd.’s ordinary shares:Basic$0.10 $(0.33)Diluted$0.10 $(0.33)Weighted average shares outstanding:Basic75,765,080 64,504,458 Diluted77,043,464 64,504,458 

(1) The following table sets forth share-based compensation for the periods indicated below (in thousands):

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Three Months Ended March 31, 20252024Technology, data and product development$1,097 $2,905 Sales and marketing4,780 2,852 General and administrative7,295 9,718 Total share-based compensation in operating expenses$13,172 $15,475 

Comparison of Three Months Ended March 31, 2025 and 2024

Total Revenue and Other Income  

Three Months Ended March 31,20252024Change% Change(in thousands, except percentages)Revenue from fees$282,704 $237,004 $45,700 19 %Interest income7,676 7,744 (68)(1)%Investment (loss) income(391)528 (919)(174)%Total Revenue and Other Income$289,989 $245,276 $44,713 18 %

Total revenue and other income, increased by $44.7 million, or 18%, to $290.0 million for the three months ended March 31, 2025 from $245.3 million for the three months ended March 31, 2024. The increase was primarily driven by an increase in revenue from fees, partially offset by a decrease in investment (loss) income. 

Revenue from fees for the three months ended March 31, 2025 increased by $45.7 million, or 19%, to $282.7 million, compared to the same period in 2024. The increase was primarily due to a $38.1 million increase in Network AI fees, comprised of AI integration fees and capital markets execution fees, from $215.3 million for the three months ended March 31, 2024 to $253.4 million for the three months ended March 31, 2025. The increase in Network AI fees was primarily driven by improved economics of AI integration fees earned from certain Partners which increased by 25% from $205.6