CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN REDEEMABLE CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS’ EQUITY (UNAUDITED) - USD ($) $ in Thousands |
Total |
Private Placement, Ordinary Share Offering |
Private Placement, Equity Financing Purchase Agreement |
Total Pagaya Technologies Ltd. Shareholders’ Equity (Deficit) |
Total Pagaya Technologies Ltd. Shareholders’ Equity (Deficit)
Private Placement, Ordinary Share Offering
|
Total Pagaya Technologies Ltd. Shareholders’ Equity (Deficit)
Private Placement, Equity Financing Purchase Agreement
|
Ordinary Shares (Class A and Class B) |
Ordinary Shares (Class A and Class B)
Private Placement, Ordinary Share Offering
|
Ordinary Shares (Class A and Class B)
Private Placement, Equity Financing Purchase Agreement
|
Additional Paid-In Capital |
Additional Paid-In Capital
Private Placement, Ordinary Share Offering
|
Additional Paid-In Capital
Private Placement, Equity Financing Purchase Agreement
|
Accumulated Other Comprehensive Income (Loss) |
Retained Earnings (Accumulated Deficit) |
Non-Controlling Interests |
Beginning balance (in shares) at Dec. 31, 2022 |
[1] |
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance at Dec. 31, 2022 |
|
$ 0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Redeemable Convertible Preferred Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance of preferred shares, net of issuance costs (in shares) |
[1] |
5,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance of preferred shares, net of issuance costs |
|
$ 74,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance (in shares) at Sep. 30, 2023 |
[1] |
5,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance at Sep. 30, 2023 |
|
$ 74,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance (in shares) at Dec. 31, 2022 |
[1] |
|
|
|
|
|
|
56,942,632
|
|
|
|
|
|
|
|
|
|
Beginning balance at Dec. 31, 2022 |
|
765,423
|
|
|
$ 553,520
|
|
|
|
|
|
|
$ 968,432
|
|
|
$ (713)
|
$ (414,199)
|
$ 211,903
|
Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance of ordinary shares upon exercise of share options (in shares) |
[1] |
|
|
|
|
|
|
538,684
|
|
|
|
|
|
|
|
|
|
Issuance of ordinary shares upon exercise of share options |
|
2,538
|
|
|
2,538
|
|
|
|
|
|
|
2,538
|
|
|
|
|
|
Issuance of ordinary shares upon exercise of warrants (in shares) |
[1] |
|
|
|
|
|
|
16,304
|
|
|
|
|
|
|
|
|
|
Issuance of ordinary shares upon vesting of RSUs (in shares) |
[1] |
|
|
|
|
|
|
286,142
|
|
|
|
|
|
|
|
|
|
Share-based compensation |
|
62,868
|
|
|
62,868
|
|
|
|
|
|
|
62,868
|
|
|
|
|
|
Issuance of ordinary shares, net of issuance cost and Equity Financing Purchase Agreement (in shares) |
[1] |
|
|
|
|
|
|
|
|
|
144,569
|
|
|
|
|
|
|
Issuance of ordinary shares, net of issuance cost and Equity Financing Purchase Agreement |
|
|
|
$ 3,793
|
|
|
$ 3,793
|
|
|
|
|
|
|
$ 3,793
|
|
|
|
Reversal of issuance costs associated with the Business Combination and PIPE Investment |
|
4,401
|
|
|
4,401
|
|
|
|
|
|
|
4,401
|
|
|
|
|
|
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. (in shares) |
[1] |
|
|
|
|
|
|
1,525,827
|
|
|
|
|
|
|
|
|
|
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. |
|
18,134
|
|
|
18,134
|
|
|
|
|
|
|
18,134
|
|
|
|
|
|
Reclassification of investments |
|
16,460
|
|
|
(1,881)
|
|
|
|
|
|
|
|
|
|
(1,881)
|
|
18,341
|
Contributions of interests in consolidated VIEs |
|
19,235
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,235
|
Return of capital to interests in consolidated VIEs |
|
(55,749)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(55,749)
|
Other comprehensive income (loss) |
|
11,451
|
|
|
6,579
|
|
|
|
|
|
|
|
|
|
6,579
|
|
4,872
|
Net income (loss) |
|
(176,702)
|
|
|
(114,020)
|
|
|
|
|
|
|
|
|
|
|
(114,020)
|
(62,682)
|
Ending balance (in shares) at Sep. 30, 2023 |
[1] |
|
|
|
|
|
|
59,454,158
|
|
|
|
|
|
|
|
|
|
Ending balance at Sep. 30, 2023 |
|
$ 671,852
|
|
|
535,932
|
|
|
|
|
|
|
1,060,166
|
|
|
3,985
|
(528,219)
|
135,920
|
Beginning balance (in shares) at Jun. 30, 2023 |
[1] |
5,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance at Jun. 30, 2023 |
|
$ 74,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance (in shares) at Sep. 30, 2023 |
[1] |
5,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance at Sep. 30, 2023 |
|
$ 74,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance (in shares) at Jun. 30, 2023 |
[1] |
|
|
|
|
|
|
59,075,752
|
|
|
|
|
|
|
|
|
|
Beginning balance at Jun. 30, 2023 |
|
703,123
|
|
|
523,183
|
|
|
|
|
|
|
1,027,687
|
|
|
1,963
|
(506,467)
|
179,940
|
Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance of ordinary shares upon exercise of share options (in shares) |
[1] |
|
|
|
|
|
|
172,921
|
|
|
|
|
|
|
|
|
|
Issuance of ordinary shares upon exercise of share options |
|
1,108
|
|
|
1,108
|
|
|
|
|
|
|
1,108
|
|
|
|
|
|
Issuance of ordinary shares upon vesting of RSUs (in shares) |
[1] |
|
|
|
|
|
|
50,235
|
|
|
|
|
|
|
|
|
|
Share-based compensation |
|
23,177
|
|
|
23,177
|
|
|
|
|
|
|
23,177
|
|
|
|
|
|
Issuance of ordinary shares, net of issuance cost and Equity Financing Purchase Agreement (in shares) |
[1] |
|
|
|
|
|
|
|
|
|
144,569
|
|
|
|
|
|
|
Issuance of ordinary shares, net of issuance cost and Equity Financing Purchase Agreement |
|
|
|
3,793
|
|
|
3,793
|
|
|
|
|
|
|
3,793
|
|
|
|
Reversal of issuance costs associated with the Business Combination and PIPE Investment |
|
4,401
|
|
|
4,401
|
|
|
|
|
|
|
4,401
|
|
|
|
|
|
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. (in shares) |
[1] |
|
|
|
|
|
|
10,681
|
|
|
|
|
|
|
|
|
|
Contributions of interests in consolidated VIEs |
|
3,942
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,942
|
Return of capital to interests in consolidated VIEs |
|
(26,836)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(26,836)
|
Other comprehensive income (loss) |
|
5,084
|
|
|
2,022
|
|
|
|
|
|
|
|
|
|
2,022
|
|
3,062
|
Net income (loss) |
|
(45,940)
|
|
|
(21,752)
|
|
|
|
|
|
|
|
|
|
|
(21,752)
|
(24,188)
|
Ending balance (in shares) at Sep. 30, 2023 |
[1] |
|
|
|
|
|
|
59,454,158
|
|
|
|
|
|
|
|
|
|
Ending balance at Sep. 30, 2023 |
|
$ 671,852
|
|
|
535,932
|
|
|
|
|
|
|
1,060,166
|
|
|
3,985
|
(528,219)
|
135,920
|
Beginning balance (in shares) at Dec. 31, 2023 |
[1] |
5,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance at Dec. 31, 2023 |
[2] |
$ 74,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance (in shares) at Sep. 30, 2024 |
[1] |
5,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance at Sep. 30, 2024 |
[2] |
$ 74,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance (in shares) at Dec. 31, 2023 |
[1] |
|
|
|
|
|
|
62,043,246
|
|
|
|
|
|
|
|
|
|
Beginning balance at Dec. 31, 2023 |
|
$ 665,749
|
|
|
559,721
|
|
|
|
|
|
|
1,101,914
|
|
|
444
|
(542,637)
|
106,028
|
Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance of ordinary shares upon exercise of share options (in shares) |
|
508,941
|
|
|
|
|
|
523,799
|
[1] |
|
|
|
|
|
|
|
|
Issuance of ordinary shares upon exercise of share options |
|
$ 2,495
|
|
|
2,495
|
|
|
|
|
|
|
2,495
|
|
|
|
|
|
Issuance of ordinary shares upon vesting of RSUs (in shares) |
[1] |
|
|
|
|
|
|
1,872,182
|
|
|
|
|
|
|
|
|
|
Issuance of ordinary shares upon employee stock purchase plan (in shares) |
[1] |
|
|
|
|
|
|
59,145
|
|
|
|
|
|
|
|
|
|
Issuance of ordinary shares upon employee stock purchase plan |
|
665
|
|
|
665
|
|
|
|
|
|
|
665
|
|
|
|
|
|
Share-based compensation |
|
51,600
|
|
|
51,600
|
|
|
|
|
|
|
51,600
|
|
|
|
|
|
Issuance of ordinary shares, net of issuance cost and Equity Financing Purchase Agreement (in shares) |
[1] |
|
|
|
|
|
|
|
|
7,500,000
|
814,569
|
|
|
|
|
|
|
Issuance of ordinary shares, net of issuance cost and Equity Financing Purchase Agreement |
|
|
$ 89,956
|
$ 12,232
|
|
$ 89,956
|
$ 12,232
|
|
|
|
|
|
$ 89,956
|
$ 12,232
|
|
|
|
Contributions of interests in consolidated VIEs |
|
2,815
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,815
|
Return of capital to interests in consolidated VIEs |
|
(7,892)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(7,892)
|
Other comprehensive income (loss) |
|
(86,273)
|
|
|
(90,876)
|
|
|
|
|
|
|
|
|
|
(90,876)
|
|
4,603
|
Net income (loss) |
|
(188,572)
|
|
|
(163,484)
|
|
|
|
|
|
|
|
|
|
|
(163,484)
|
(25,088)
|
Ending balance (in shares) at Sep. 30, 2024 |
[1] |
|
|
|
|
|
|
72,812,941
|
|
|
|
|
|
|
|
|
|
Ending balance at Sep. 30, 2024 |
|
$ 542,775
|
|
|
462,309
|
|
|
|
|
|
|
1,258,862
|
|
|
(90,432)
|
(706,121)
|
80,466
|
Beginning balance (in shares) at Jun. 30, 2024 |
[1] |
5,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance at Jun. 30, 2024 |
|
$ 74,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance (in shares) at Sep. 30, 2024 |
[1] |
5,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance at Sep. 30, 2024 |
[2] |
$ 74,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance (in shares) at Jun. 30, 2024 |
[1] |
|
|
|
|
|
|
71,595,691
|
|
|
|
|
|
|
|
|
|
Beginning balance at Jun. 30, 2024 |
|
615,574
|
|
|
525,982
|
|
|
|
|
|
|
1,235,677
|
|
|
(71,050)
|
(638,645)
|
89,592
|
Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance of ordinary shares upon exercise of share options (in shares) |
[1] |
|
|
|
|
|
|
250,881
|
|
|
|
|
|
|
|
|
|
Issuance of ordinary shares upon exercise of share options |
|
1,736
|
|
|
1,736
|
|
|
|
|
|
|
1,736
|
|
|
|
|
|
Issuance of ordinary shares upon vesting of RSUs (in shares) |
[1] |
|
|
|
|
|
|
390,712
|
|
|
|
|
|
|
|
|
|
Issuance of ordinary shares upon employee stock purchase plan (in shares) |
[1] |
|
|
|
|
|
|
59,145
|
|
|
|
|
|
|
|
|
|
Issuance of ordinary shares upon employee stock purchase plan |
|
665
|
|
|
665
|
|
|
|
|
|
|
665
|
|
|
|
|
|
Share-based compensation |
|
13,890
|
|
|
13,890
|
|
|
|
|
|
|
13,890
|
|
|
|
|
|
Issuance of ordinary shares, net of issuance cost and Equity Financing Purchase Agreement (in shares) |
[1] |
|
|
|
|
|
|
516,512
|
|
|
|
|
|
|
|
|
|
Issuance of ordinary shares, net of issuance cost and Equity Financing Purchase Agreement |
|
6,894
|
|
|
6,894
|
|
|
|
|
|
|
6,894
|
|
|
|
|
|
Return of capital to interests in consolidated VIEs |
|
(2,574)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2,574)
|
Other comprehensive income (loss) |
|
(19,179)
|
|
|
(19,382)
|
|
|
|
|
|
|
|
|
|
(19,382)
|
|
203
|
Net income (loss) |
|
(74,231)
|
|
|
(67,476)
|
|
|
|
|
|
|
|
|
|
|
(67,476)
|
(6,755)
|
Ending balance (in shares) at Sep. 30, 2024 |
[1] |
|
|
|
|
|
|
72,812,941
|
|
|
|
|
|
|
|
|
|
Ending balance at Sep. 30, 2024 |
|
$ 542,775
|
|
|
$ 462,309
|
|
|
|
|
|
|
$ 1,258,862
|
|
|
$ (90,432)
|
$ (706,121)
|
$ 80,466
|
|
|