Company: PGYWW
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001883085-25-000082
Chunk: 22

Company: Pagaya Technologies Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 9 - TRANSACTIONS WITH RELATED PARTIES

In the ordinary course of business, the Company may enter into transactions with directors, principal officers, their immediate families, and affiliated companies in which they are principal shareholders (commonly referred to as related parties). In addition, the Company has transactions with the securitization vehicles and other Financing Vehicles, which are also related parties.As of March 31, 2025, the total fee receivables from related parties are $90.7 million, which consist of $65.2 million from securitization vehicles and $25.6 million from other Financing Vehicles. As of December 31, 2024, the total fee receivables from related parties are $99.4 million, which consists of $79.0 million from securitization vehicles and $20.4 million from other Financing Vehicles. As of March 31, 2025 and December 31, 2024, prepaid expenses and other assets include amounts due from related parties of $15.7 million and $15.2 million, respectively, all of which were attributable to Financing Vehicles. 

17

For the three months ended March 31, 2025, the total revenue from related parties is $167.9 million, which consists of $159.1 million from securitization vehicles and $8.8 million from other Financing Vehicles. For the three months ended March 31, 2024, the total revenue from related parties is $178.5 million, which consists of $162.6 million from securitization vehicles and $15.9 million from other Financing Vehicles. 

During the three months ended March 31, 2025, the Company purchased approximately $3.8 million of loan principal from the Financing Vehicles and included a loss of approximately $3.5 million in general and administrative expenses with respect to these loans. During the three months ended March 31, 2024, the Company purchased approximately $5.0 million of loan principal from the Financing Vehicles and included a loss of approximately $5.0 million in general and administrative expenses with respect to these loans. 

NOTE 10 - FAIR VALUE MEASUREMENT

FASB ASC 820, “Fair Value Measurements and Disclosures” (“ASC 820”), defines fair value, establishes a framework for measuring fair value under generally accepted accounting principles, and requires certain disclosures about fair