Company: PGYWW
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001883085-25-000050
Chunk: 20

Company: Pagaya Technologies Ltd.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 16
Chunk 20
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 — — — — — — — (9,820)(9,820)Other comprehensive loss— — — — — (11,932)— (11,932)(821)(12,753)Net loss— — — — — (401,406)(401,406)(44,292)(445,698)Balance – December 31, 20245,000,000 $74,250 73,879,982 $— $1,282,022 $(11,488)$(944,043)$326,491 $115,055 $441,546 

(1) Share amounts have been retroactively adjusted to reflect the 1-for-12 reverse share split effected on March 8, 2024. 

The accompanying notes are an integral part of these consolidated financial statements

F-6

Table of Contents

PAGAYA TECHNOLOGIES LTD. 

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR YEAR ENDED DECEMBER 31, 2024, 2023 AND 2022

(In thousands) 

202420232022Cash flows from operating activitiesNet loss including noncontrolling interests$(445,698)$(196,739)$(292,774)Adjustments to reconcile net income (loss) to net cash used in operating activities:Equity method loss (income)4,593 (488)(5,756)Depreciation and amortization28,753 19,127 6,294 Share-based compensation61,497 71,055 241,689 Fair value adjustment to warrant liability(2,349)1,842 (11,088)Issuance of ordinary shares related to commitment shares— — 1,000 Impairment loss on investments in loans and securities414,014 134,510 15,007 Gain on sale of investments in loans and securities(7,922)— — Loss on loans held-for-investment— — 10,651 Other than temporary impairment of investments in loans and securities— — 33,704 Write-off of capitalized software3,245 2,475 3,209 Debt issuance costs amortization3,739 — — Loss (gain) on foreign exchange4,189 (1,320)— Other non-cash items367 —