v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN REDEEMABLE CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Private Placement, Ordinary Share Offering
Private Placement, Equity Financing Purchase Agreement
Total Pagaya Technologies Ltd. Shareholders’ Equity
Total Pagaya Technologies Ltd. Shareholders’ Equity
Private Placement, Ordinary Share Offering
Total Pagaya Technologies Ltd. Shareholders’ Equity
Private Placement, Equity Financing Purchase Agreement
Ordinary Shares (Class A and Class B)
Ordinary Shares (Class A and Class B)
Ordinary share warrants
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 (Loss) Income
Accumulated Deficit
Non-Controlling Interests
Beginning balance (in shares) at Dec. 31, 2022 0                              
Beginning balance at Dec. 31, 2022 $ 0                              
Redeemable Convertible Preferred Shares                                
Issuance of preferred shares, net of issuance costs (in shares) 5,000,000                              
Issuance of preferred shares, net of issuance costs $ 74,250                              
Ending balance (in shares) at Dec. 31, 2023 5,000,000                              
Ending balance at Dec. 31, 2023 $ 74,250                              
Beginning balance (in shares) at Dec. 31, 2022             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 warrants (in shares)             99,711                  
Issuance of ordinary shares upon exercise of share options (in shares)             925,240                  
Issuance of ordinary shares upon exercise of share options 4,334     4,334             4,334          
Issuance of ordinary shares upon vesting of RSUs (in shares)             962,679                  
Share-based compensation 78,721     78,721             78,721          
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)             1,525,827                  
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. 18,134     18,134             18,134          
Issuance of ordinary shares from the Equity Financing Purchase Agreement (in shares)             1,587,157                  
Issuance of ordinary shares from the Equity Financing Purchase Agreement 27,892     27,892             27,892          
Reclassification of investments 16,460     (1,881)                   (1,881)   18,341
Contributions of interests in consolidated VIEs 19,955                             19,955
Return of capital to interests in consolidated VIEs (64,371)                             (64,371)
Other comprehensive income (loss) (8,461)     3,038                   3,038   (11,499)
Net (loss) income (196,739)     (128,438)                     (128,438) (68,301)
Ending balance (in shares) at Dec. 31, 2023             62,043,246                  
Ending balance at Dec. 31, 2023 $ 665,749     559,721             1,101,914     444 (542,637) 106,028
Ending balance (in shares) at Dec. 31, 2024 5,000,000                              
Ending balance at Dec. 31, 2024 $ 74,250                              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Issuance of ordinary shares upon exercise of share options (in shares)             586,847                  
Issuance of ordinary shares upon exercise of share options 2,640     2,640             2,640          
Issuance of ordinary shares upon vesting of RSUs (in shares)             2,371,735                  
Issuance of ordinary shares upon employee stock purchase plan (in shares)             59,145                  
Issuance of ordinary shares upon employee stock purchase plan 665     665             665          
Share-based compensation 68,646     68,646             68,646          
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. (in shares)             504,440                  
Issuance of ordinary shares in connection with the acquisition of Darwin Homes, Inc. 5,969     5,969             5,969          
Issuance of ordinary shares from the Equity Financing Purchase Agreement (in shares)                 7,500,000 814,569            
Issuance of ordinary shares from the Equity Financing Purchase Agreement   $ 89,956 $ 12,232   $ 89,956 $ 12,232           $ 89,956 $ 12,232      
Contributions of interests in consolidated VIEs 63,960                             63,960
Return of capital to interests in consolidated VIEs (9,820)                             (9,820)
Other comprehensive income (loss) (12,753)     (11,932)                   (11,932)   (821)
Net (loss) income (445,698)     (401,406)                     (401,406) (44,292)
Ending balance (in shares) at Dec. 31, 2024             73,879,982                  
Ending balance at Dec. 31, 2024 $ 441,546     326,491             1,282,022     (11,488) (944,043) 115,055
Redeemable Convertible Preferred Shares                                
Issuance of ordinary shares upon conversion of preferred shares (in shares) (2,972,853)                              
Issuance of ordinary shares upon conversion of preferred shares $ (44,147)                              
Ending balance (in shares) at Dec. 31, 2025 2,027,147                              
Ending balance at Dec. 31, 2025 $ 30,103                              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Issuance of ordinary shares upon exercise of warrants (in shares)             2,972,853 1,309,157                
Issuance of ordinary shares upon exercise of share options (in shares) 734,988           769,167                  
Issuance of ordinary shares upon exercise of share options $ 5,759     5,759             5,759          
Issuance of ordinary shares upon vesting of RSUs (in shares)             3,005,532                  
Issuance of ordinary shares upon employee stock purchase plan (in shares)             99,243                  
Issuance of ordinary shares upon employee stock purchase plan 1,164     1,164             1,164          
Issuance of ordinary shares upon conversion of preferred shares 44,147     44,147             44,147          
Share-based compensation 57,898     57,898             57,898          
Return of capital to interests in consolidated VIEs (25,762)                             (25,762)
Other comprehensive income (loss) (40,771)     (36,831)                   (36,831)   (3,940)
Net (loss) income 71,370     81,389                     81,389 (10,019)
Ending balance (in shares) at Dec. 31, 2025             82,035,934                  
Ending balance at Dec. 31, 2025 $ 555,351     $ 480,017             $ 1,390,990     $ (48,319) $ (862,654) $ 75,334