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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenue      
Revenue from fees (including related party revenues of $653,471, $445,866 and $91,740 for the years ended December 31, 2022, 2021 and 2020, respectively) $ 685,414 $ 445,866 $ 91,740
Other Income      
Interest income 57,758 28,877 6,993
Investment income (loss) [1] 5,756 (155) 277
Total Revenue and Other Income 748,928 474,588 99,010
Costs and Operating Expenses      
Production costs 451,084 232,324 49,085
Research and development 150,933 66,211 12,332
Sales and marketing 104,203 49,627 5,668
General and administrative 294,213 132,235 10,672
Total Costs and Operating Expenses 1,000,433 480,397 77,757
Operating Income (Loss) (251,505) (5,809) 21,253
Other income (loss), net (24,869) (55,839) (55)
Income (Loss) Before Income Taxes (276,374) (61,648) 21,198
Income tax expense (benefit) 16,400 7,875 1,276
Net Income (Loss) Including Noncontrolling Interests (292,774) (69,523) 19,922
Less: Net income (loss) attributable to noncontrolling interests 9,547 21,628 5,452
Net Income (Loss) Attributable to Pagaya Technologies Ltd. (302,321) (91,151) 14,470
Per share data:      
Less: Undistributed earnings allocated to participating securities 12,205 19,558 9,558
Less: Deemed dividend distribution 0 23,612 0
Net income (loss) attributable to Pagaya Technologies Ltd. ordinary shareholders $ (314,526) $ (134,321) $ 4,912
Net income (loss) per share attributable to Pagaya Technologies Ltd.:      
Basic (in dollars per share) [2] $ (0.69) $ (0.69) $ 0.03
Diluted (in dollars per share) [2] $ (0.69) $ (0.69) $ 0.02
Weighted average shares outstanding:      
Basic (in shares) [2] 459,044,846 195,312,586 191,146,436
Diluted (in shares) [2] 459,044,846 195,312,586 206,915,248
[1] Includes income from proprietary investments.
[2] Prior period amounts have been retroactively adjusted to reflect the 1:186.9 stock split effected on June 22, 2022.