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

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Earnings data Q1 2022

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Earnings data Q1 2023

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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.

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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

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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

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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
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Marketwatch
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NY Times
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Washington Post

Affirm Holdings, Inc (NASDAQ:AFRM ) CFO Fireside Chat Conference Call June 14, 2022 2:00 PM ET Company Participants Michael Linford - Chief Financial Officer Conference Call Participants Rob Wildhack - Autonomous Research Rob Wildhack Good afternoon, everyone and thanks for joining. My name is Rob Wildhack, and I cover a firm for Autonomous Research.

Affirm Holdings, Inc (AFRM) Management Presents at CFO Fireside Chat Conference (Transcript)

Approved travelers booking hotels through the Agoda platform will get a buy now, pay later (BNPL) option provided by BNPL provider Affirm under a new arrangement, the companies announced Monday (June 13). For hotel stays costing $50 or more, guests will be allowed to make interest-free payments every two weeks or once a month via […]

Affirm, Agoda to Provide BNPL Travel Booking

Inflation, rising interest rates, and Apple's new buy now, pay later service will cause major headaches for Affirm this year.

3 Red Flags for Affirm Holdings' Future

Apple

Is Apple Pay Later Really a Threat to Affirm and Other BNPL Providers? Apple's Project Breakout finally broke out a week ago today at Apple's WWDC.

Is Apple Pay Later Really a Threat to Affirm and Other BNPL Providers?

Apple's move into the crowded "buy now, pay later" space has raised the stakes for the fintech companies that pioneered the trend.

'Buy now, pay later' firms were already in trouble. Apple just gave them one more thing to worry about

Affirm Holdings, Inc. (NASDAQ:AFRM ) Bank of America 2022 Global Technology Conference June 9, 2022 2:00 PM ET CorporateParticipants Michael Linford - Chief Financial Officer ConferenceCall Participants Jason Kupferberg - Bank of America Jason Kupferberg Joining us, I'm Jason Kupferberg, the payments and IT services analyst here at Bank of America. And we're very excited to have Michael Linford here the CFO of Affirm, and we're going to jump into a bunch of fireside chat questions, we are going to give the audience a chance to ask some as well.

Affirm Holdings, Inc. (AFRM) Management presents at Bank of America 2022 Global Technology Conference

Investors continue to digest Apple's move into the "buy now pay later" space.

Why Shares of Affirm Are Down Today

Affirm is set to face off with Apple, as the Cupertino company will enter the BNPL space soon. But, we think AFRM stock has priced in significant pessimism. Management guided to adjusted operating profitability exiting FY23. But, Affirm remains a distance away from GAAP EPS profitability. Therefore, a position in Affirm remains highly speculative.

Can Affirm Stock Reach $50? Highly Unlikely For Now

Shares of Affirm Holdings Inc. have lost more than three quarters of their value so far this year, but one analyst thinks they're not yet done falling.

Affirm stock slide could continue, Wedbush says

Apple's Apple Pay Later system for iOS 16 announcement hurt Affirm stock. Here's what it means for tech investors.

Apple To Take On Affirm And Klarna With Entry Into Buy Now Pay Later

Affirm Holdings, Inc. (NASDAQ: AFRM) shares are trading lower Wednesday following bearish analyst coverage from Wedbush. Wedbush analyst David Chiaverini initiated coverage on Affirm with an Underperform rating and announced a $15 price target.

Why Affirm Holdings Shares Are Falling

When it comes to Affirm Holdings stock, investors should “sell now, buy later,” writes Wedbush analyst David Chiaverini.

Affirm Investors Should 'Sell Now, Buy Later,' Analyst Says

Affirm's Max Levchin told Bloomberg TV that Apple was focused on a six-week product, unlike its payment plans of up to five years.

Apple Pay Later doesn't worry us, says CEO of buy now, pay later unicorn Affirm

Buy now, pay later (BNPL) has been around in some format for a very long time, but the current version hit the financial scene somewhere around 2014 or so when Klarna and Affirm scooped up millennials and Gen Z customers happy to skip interest and make installment payments based on paycheck direct deposits. But as […]

Affirm's Plummet Could Portend Trouble for BNPL Space

Affirm Holdings Inc (NASDAQ: AFRM) gapped down almost 4% to start the trading day on Tuesday after falling more than 7% on Monday but by press time, bulls had come in to buy the morning dip. On Monday, Apple Inc (NASDAQ: AAPL) revealed a competing product to Affirm's “buy now.

As Affirm Pulls Back Following Apple 'Pay Later' Announcement, Here's Why The Stock Remains Healthy

Block

Fintech stocks are taking a hit today, following news that Apple (AAPL) is adding  “buy-now-pay-later” options to its Apple Pay service.

2 FinTech Stocks Drop After Apple Pay Update

AFRM stock is retreating after Apple unveiled its buy now, pay later service yesterday at its developers' conference.  The post Affirm (AFRM) Stock Slumps as Apple Enters the Buy Now, Pay Later Space appeared first on InvestorPlace.

Affirm (AFRM) Stock Slumps as Apple Enters the Buy Now, Pay Later Space

In today's note, we will explore Affirm's business model during higher interest rate environments or during a recession imposed by higher rates. Affirm's mission is to deliver honest financial products that improve people's lives, while Affirm's financial products help consumers and merchants to participate in the economy.

Affirm: Built To Win

Some analysts believe Apple's foray into the space could help accelerate consumer adoption of BNPL.

Apple's Buy Now, Pay Later Plans Sank Affirm. Why It's Not the Bad News You Think It Is.

Shares of Affirm Holdings Inc. AFRM, -5.50% extended their prior-session slide in premarket trade Tuesday, after Apple Inc. AAPL, +0.52% announced an installment-pay offering similar to one of Affirm's buy-now pay-later options. The stock lost 5.5% of its value on Monday, after Apple announced its plan during the keynote speech of its WWDC developer event Monday and said that the installment option will be available where the Apple Pay service is accepted.

Affirm shares see further pressure as report says regulators eye BNPL sector

Shares of Affirm Holdings Inc. extended their prior-session slide in premarket trade Tuesday, after Apple Inc. announced an installment-pay offering similar to one of Affirm's buy-now pay-later options.

Affirm stock extends losses premarket as new report says BNPL companies facing regulatory pressure

Insider Intelligence projects that BNPL transaction volume will reach $680 billion globally in 2025 due to the proliferation of online shopping and consumer disdain for credit card interest. As one of the incumbents in the space, Affirm stands to be a major beneficiary of this expansion.

Affirm Holdings Stock: Buy Now, Gain Later

Shares of Affirm Holdings Inc (NASDAQ: AFRM) are down 75% this year but CEO Max Levchin continues to be confident about the “fundamentals” of the company. Affirm is doing extraordinarily well Despite the sharp sell-off, Levchin doesn't see the need for job cuts to lower costs since financially, the company is “doing great”.

Affirm shares are down 75% YTD: here's what the CEO has to say

Affirm Holdings Inc (NASDAQ: AFRM) shares are trading lower Monday after Apple Inc (NASDAQ: AAPL) unveiled a new buy now, pay later program at its 2022 Worldwide Developers Conference.  Apple's new "Apple Pay Later" product will allow users to make purchases .

Why Affirm Stock Is Falling During Apple's 2022 WWDC

Apple Pay Later is fully integrated into Apple's digital wallet and allows its users to pay back any purchase made with Apple Pay in four installments.

News for Affirm Stock (AFRM)