Revenue segments as reported by the company.

Merchant network revenue

Virtual card network revenue

Interest income

Gain (loss) on sales of loans

Servicing income

Revenue Segments

Gross Profit, Operating Income, and Net Income as a percentage of Revenue

Operating Margin

Profit Margin

Margins

An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

Loss on loan purchase commitment

Provision for credit losses

Funding costs

Processing and servicing

Technology and data Analytics

Sales and marketing

General and administrative

Restructuring charges, net

Operating Expenses

Year over year growth in Revenue and Operating Expenses.

Revenue Y/Y

OpEx Y/Y

Growth

Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Affirm

Affirm Holdings, Inc. operates a platform for digital and mobile-first commerce. Its platform consists of three core elements: a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. The company was founded by Max R. Levchin in 2012 and is headquartered in San Francisco, CA.

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Earnings data Q1 2025

Earnings data Q2 2025

Affirm Holdings reports strong Q1 earnings, cautious about guidance

AFRM had a strong quarter with a focus on Debit+ and credit performance. The company is cautious about guidance and forecasts, aiming to maintain unit profitability and offset credit losses. AFRM reaffirms commitment to positive adjusted operating income and anticipates ongoing progress in merchant amendments.

Affirm reports mixed Q2 results, focuses on credit performance and profitability

Affirm's Q2 performance showed a mix of results with a focus on credit performance and profitability initiatives. The company faces challenges in consumer spending, credit risk management, and yield pressure. Opportunities exist in reengagement strategies, margin-improving projects, and integrating Debit+ for growth.
Affirm's strong credit performance, effective credit control, and successful partnerships are key strengths. Challenges include managing credit tightly amidst economic conditions and optimizing margins. Opportunities for growth include focusing on higher credit quality loans, margin improvement, and enhancing engagement metrics.

Affirm excels in Q3, focuses on credit performance and growth

Affirm's Q3 showcased exceptional performance and strategic initiatives, with a strong focus on credit performance and product value. Challenges in specific sectors are being addressed, while opportunities in merchant agreements and operational efficiency are being pursued.

Affirm surpasses Q4 expectations, eyes strategic growth amid challenges

Affirm's Q4 performance exceeded expectations, emphasizing profitability and strategic growth initiatives. Despite challenges like credit environment impact and economic volatility, Affirm is poised for further success through market opportunities and strategic planning.

Affirm exceeds Q1 revenue expectations, focuses on innovation and partnerships

Affirm's Q1 performance showcased strong growth and operational efficiency, driven by key product initiatives and effective expense management. The company's focus on innovation, partnerships, and consumer education positions it well for future growth and market expansion.

Affirm reports robust Q2 results, eyes aggressive card adoption strategy

Affirm's Q2 performance showcased growth in GMV and strong partnerships driving positive outcomes. Challenges lie in managing funding costs and credit box expansion, while opportunities exist in increasing Affirm card adoption and enhancing user experience.

Affirm reports robust Q3 performance, eyes international expansion opportunities

Affirm's Q3 performance reflects strong GMV growth, operational efficiency, and resilience to market dynamics.
The company's strengths lie in positive unit economics, unique product offerings, and a focus on long-term growth.
Challenges include quantifying pricing impact, international expansion complexities, and funding requirements.
Opportunities for Affirm include midsized business focus, international growth, and product innovation for market expansion.

Affirm reports robust Q4 performance, eyes growth amid credit challenges

Affirm's Q4 2024 earnings call highlighted strong performance, credit control emphasis, and strategic partnerships. Challenges include managing the credit environment and consumer spending in changing rate environments. Opportunities lie in disciplined growth, investment strategies, and sustainable profitability.

Affirm reports strong Q1 results, eyes UK expansion for growth

Affirm's Q1 performance was strong, with a positive outlook for revenue uplift and RLTC margins. While challenges exist in reinvestment and benchmark rate declines, opportunities in the U.K. market and expansion into new markets present growth potential.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Affirm is founded by PayPal co-founder Max Levchin, Nathan Gettings, Jeffrey Kaditz and Alex Rampell as an alternative to credit card.

The company raises $7.5 million in Series A funding from Charlie Songhurst, David Sacks and others, with a valuation of $15 million. 

Affirm is valued at $85 million after it raises $26 million from Khosla Ventures and others.

The company raises $275 million in a deal led by Spark Capital, giving it a pre-money valuation of $450 million. 

The company raises $140 million in a deal led by Founders Fund, giving it a pre-money valuation of $700 million.

Affirm acquires budgeting app Sweep, expanding beyond point-of-sale lending to provide financial advice for users.

The online checkout option "Pay with Affirm" becomes widely popular, especially with Millennial shoppers looking to buy expensive items.

Affirm partners with Walmart to allow customers to make purchases both in store and on Walmart.com.

Affirm raises another $300 million in funding, led by Thrive Capital.

Affirm partners with Shopify, making its "buy now, pay later" model available to more U.S. merchants.

Affirm partners with Neiman Marcus to give customers a flexible way to buy gifts (or just something for themselves). 

Affirm files to go public on NASDAQ under the stock ticker symble AFRM, with an expected offering amount of $100 million.

affirm.com/press
SEC Form S-1
Marketwatch
Forbes
Inc.
NY Times
TechCrunch
Washington Post

Mizuho Securities reiterated a Buy rating on the short-term lender, saying recent data suggested its loan delinquencies are not as bad as Wall Street fears.

Affirm's Bad News 'Likely Isn't as Bad,' Analyst Says. He Still Cut His Price Target.

SoFi Technologies

SoFi is a digital bank, while Affirm offers buy now, pay later services.

Better Buy: SoFi or Affirm?

Buy now and pay later (BNPL) online purchase financing platform Affirm (NASDAQ: AFRM) is trying to maintain a foothold in a mudslide.

Affirm is the Underdog Starring in a Spaghetti Western

Affirm saw credit quality deteriorate in its most recent quarter.

How Is Credit Quality at Affirm Holding Up?

PayPal

Which of these beaten-down fintech stocks should you buy for your portfolio?

Better Bear Market Buy: Affirm vs. PayPal

The company reported earnings results for its fourth fiscal quarter of 2022.

Here's Why Affirm's Stock Fell 13% in August

Several Wall Street analysts lowered their price targets after Affirm posted earnings on Aug. 25.

Why Affirm Stock Was Dropping Today

Nonperforming loans can be surprisingly costly for lenders. Is the "buy now, pay later" company headed for bigger losses?

Affirm's Rising Loan Delinquencies Could Be a Problem for the Stock

The buy now, pay later company faces brutal near-term headwinds.

Affirm Stock: Bear vs. Bull

Affirm's gross merchandise volume grew 77% YoY in Q4. It plans to launch new products and features to boost volume and engagement.

Affirm turns in strong earnings, highlights ambitious growth initiatives

High inflation and rising interest rates are hitting Affirm's bottom line, but it's still growing quickly.

Affirm Just Grew This 1 Metric by 710% Thanks to Shopify. Is the Stock a Buy?

Zoom Video

No respite here. The Connected Economy 100 (CE100) Stock Index was off 3.7% for the week — though its performance was better than the major benchmarks, which all slipped by about 4% or more.

Affirm and Zoom's Post-Earnings Slumps Haul CE100 Lower by 3.7%

Dun & Bradstreet Holdings

Futu Holdings

Goosehead Insurance

Rocket Companies, Inc.

Upstart Holdings

In the past week, three of the biggest gainers in financial stocks have been Chinese FinTechs, boosted by an agreement that gives U.S. authorities access to audit the companies. Seeking Alpha reported Saturday (Aug. 27) that Futu Holdings was up 21% this week, with 360 DigiTech following close behind.

Chinese FinTech Stocks Climb; US Lenders Tumble

Affirm (AFRM) expects the fiscal year 2023 GMV to be within the range of $20.5-$22 billion.

Affirm's (AFRM) Q4 Earnings Miss on High Costs, Revenues Jump

Amid a down day for the market following the Federal Reserve's intention to keep interest rates high to fight inflation, Affirm (NASDAQ: AFRM ) stock stood out for its severe erosion. The buy now, pay later platform provider reported disappointing earnings results along with downgraded expectations for the full year.

Why Is Affirm (AFRM) Stock Plunging 17% Today?

The company reported earnings results for the fourth fiscal quarter of 2022 last night.

Why Shares of Affirm Are Falling Today

Affirm Holdings Inc (NASDAQ: AFRM) shares are trading lower by 16.36% to $26.12 Friday morning after the company reported worse-than-expected fourth-quarter EPS results and issued first-quarter FY23 sales guidance below estimates. What Else?

Why Affirm Stock Is Trading Lower

Workday

Key speeches from central bank leaders could move markets on Friday.

Nasdaq Reacts to Fed Speak as Workday Wins, Affirm Falls

Affirm posted a cautious 2023 outlook that sent the shares plummeting. That's just a 'knee-jerk reaction,' analysts say.

Affirm Stock's Decline Could 'Abate' Soon. These Analysts Say Buy on Weakness.

Shares of Affirm Holdings Inc tumble 13% in premarket trading on Friday after the buy-now-pay-later lender's full-year revenue forecast missed Wall Street estimates, underscoring the broader downturn in the fortunes of the once high-flying fintech sector.

BNPL lender Affirm's shares tumble after gloomy full-year revenue forecast

Affirm's lowered outlook discussed. Flywheel the engine of growth.

Accumulate Affirm Stock After Q4 2022 Results

They may have startled Wall Street investors, but for consumers, merchants and retailers, Affirm's results are the latest affirmation that the seismic shift towards buy now, pay later, (BNPL) is continuing to bear fruit with customers using the payment option more often.

Affirm's Results Re-Affirm: BNPL Is Here to Stay, but Growth to Slow

Affirm Holdings, Inc. (NASDAQ:AFRM ) Q4 2022 Earnings Conference Call August 25, 2022 5:00 PM ET Company Participants Rob O'Hare – Senior Vice President-Finance Max Levchin – Founder and Chief Executive Officer Michael Linford – Chief Financial Officer Conference Call Participants Ramsey El-Assal – Barclays Dan Perlin – RBC Capital Markets James Faucette – Morgan Stanley Jason Kupferberg – Bank of America Moshe Orenbuch – Credit Suisse Rob Wildhack – Autonomous Reggie Smith – JPMorgan Michael Ng – Goldman Sachs Andrew Jeffrey – Truist Securities Chris Brendler – D.A. Davidson Operator Good afternoon, ladies and gentlemen.

Affirm Holdings, Inc. (AFRM) Q4 2022 Earnings Call Transcript

Affirm Holdings Inc (NASDAQ: AFRM) reported better-than-expected revenue for its fiscal fourth quarter on Thursday. Shares still tanked 15% after the bell on widened loss and weak guidance.

Affirm Holdings punished on weak guidance

Gap Inc

After a week of cautious reticence in the markets, investors betrayed that they're not so worried about Fed Chair Jay Powell's speech, after all.

News for Affirm Stock (AFRM)