Company: PGYWW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001883085-25-000195
Chunk: 153

Company: Pagaya Technologies Ltd.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 153
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$240,273 Securitization certificates11,554 11,554 1,037,180521,6891,048,734533,243(1) Based on expected maturity date cash flows. (2) Includes accrued interest receivable of $14.3 million, previously reported within “Fee and other receivables” as of December 31, 2024, has been reclassified to conform to the current period’s presentation.The following table sets forth gross proceeds and related investment gains and losses, as well as losses on write-downs and the allowance for credit losses of securities, for the periods indicated (in thousands):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Investments in loans and securities:Proceeds from sales/maturities/prepayments$48,845 $23,083 $178,196 $89,905 Gross investment gains from sales and maturities$(12)$— $(8,702)$— Gross investment losses from sales and maturities$16,288 $— $16,288 $— Write-offs charged against the allowance$211 $4,810 $804 $7,109 Reductions (additions) to allowance for credit losses$57,385 $(79,171)$72,216 $(159,085)The following tables set forth the activity in the allowance for credit losses for investments in loans and securities, as of the dates indicated (in thousands):

16

Three Months Ended September 30, 2025Securitization notesSecuritization certificatesOther Loans and ReceivablesTotalBalance, beginning of period$(2,873)$(490,897)$(1,100)$(494,870)Additions to allowance for credit losses not previously recorded— (11,510)— (11,510)Reductions for securities sold during the period— 72,443 — 72,443 Additions (reductions) on securities with previous allowance— (3,497)(51)(3,548)Write-offs charged against the allowance— — 211 211 Balance, end of period$(2,873)$(433,461)$(940)$(437,274)Nine Months Ended September 30, 2025Securitization notesSecuritization certificatesOther Loans and ReceivablesTotalBalance, beginning of period$—