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

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Earnings data Q4 2022

Earnings data Q1 2023

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Earnings data Q4 2023

Earnings data Q1 2024

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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

Affirm's user base includes middle-income consumers with manageable debt, debunking misconceptions that it primarily serves financially insecure individuals. Affirm's partnerships with major players like Shopify and Amazon have driven growth, attracting prime customers and increasing spending. Affirm demonstrates superior credit risk management and capital efficiency compared to large banks, with lower delinquency rates and higher return ratios.

The Evolution Of Affirm: Can It Go Mainstream?

Affirm Holdings (AFRM) shares are surging after the buy now, pay later (BNPL) fintech company posted better-than-expected fiscal fourth-quarter results and strong guidance after the bell Wednesday.

Here's Why Affirm Stock Is Up 30% Today

AFRM expects GMV of more than $33.5 billion in fiscal 2025.

Affirm Holdings Q4 Loss Narrows Y/Y, GMV Outlook Raised

Affirm shares surged Thursday following a beat on the top and bottom lines. The company reported a per share loss of 14 cents, while analysts were expecting a loss of 51 cents per share.

Affirm shares surge 34% and head for best day in three years after earnings beat

Affirm Holdings Inc AFRM shares climbed Thursday after the company reported strong fourth-quarter results.

Affirm's Q2 Beat Fuels Profit Hopes, Analyst Says Guidance Much Better Than Expected

Affirm shares rose 33% on Thursday after the buy-now-pay-later lender trounced estimates for quarterly results and said it expects to be profitable by the fourth quarter of next fiscal year, sooner than Wall Street had forecast.

Affirm soars as BNPL lender aims to turn profit ahead of Street targets

Affirm stock is rallying Thursday after the BNPL firm reported strong results and said it expects to turn a profit by the end of this fiscal year. Here's what you need to know.

Affirm Nears Profitability and Wall Street Is Cheering

Affirm has surged on strong earnings. Is the stock an attractive buy considering its rerating potential on future profitability?

Affirm's earnings beat sparks 32% surge: A strategic buy before re-rating?

Affirm beat Wall Street's sales target in fiscal Q4, and its loss per share came in far lower than anticipated. Guidance for this year also came in much better than expected.

Why Affirm Holdings Stock Is Skyrocketing Today

Affirm reported impressive 48% revenue growth in FQ4 and recorded adjusted operating income of $150 million. The company has substantial catalysts in FY25 with digital wallets like Apple Pay and the expansion of use of the Affirm Card. The company aims for GAAP profitability by FQ4'25, a shift that may hinder stock performance due to market focus on meager GAAP metrics.

Affirm: Unnecessary Focus On GAAP Profits

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New economy fintech and payment stocks exhibit strong growth and bullish prospects. Affirm's bullish earnings report last night should bolster this market segment further into 2025.

3 Fintech Stocks to Buy: AFRM, UPST, PYPL

Affirm NASDAQ: AFRM has seen wild fluctuations in its stock price over the past three years. Shares peaked at nearly $169 in November 2021 but are down 80% from that level today.

Affirm Shows Buy-Now-Pay-Later Is Here to Stay in Latest Results

Affirm's strong growth trajectory, driven by expanding merchant network and effective risk management, now makes it a compelling buy despite previous neutral stance. Impressive 33% y/y revenue growth expected in fiscal 2025, surpassing analyst expectations and showcasing Affirm's ability to grow both rapidly and profitably. Valuation at 17x forward non-GAAP operating profits, with potential for 19% adjusted operating margins and $600 million non-GAAP profits in the next 12 months.

Affirm: Q4 2024 Earnings Surprise, Heads To GAAP Profits (Rating Upgrade)

Affirm Holdings, Inc. (NASDAQ:AFRM ) Q4 2024 Earnings Conference Call August 28, 2024 5:00 PM ET Company Participants Zane Keller - Director of Investor Relations Max Levchin - Founder and Chief Executive Officer Michael Linford - Chief Financial Officer Conference Call Participants Jason Kupferberg - Bank of America Securities Reginald Smith - JPMorgan Ramsey El-Assal - Barclays William Nance - Goldman Sachs Andrew Bauch - Wells Fargo Robert Wildhack - Autonomous Research Kyle Peterson - Needham Dan Dolev - Mizuho Securities James Faucette - Morgan Stanley Timothy Chiodo - UBS Matthew O'Neill - FT Partners Operator Good afternoon and welcome to the Affirm Holdings Fourth Quarter Fiscal 2024 Earnings Call. Following the speakers' remarks, we will open the line for your questions.

Affirm Holdings, Inc. (AFRM) Q4 2024 Earnings Call Transcript

While the top- and bottom-line numbers for Affirm Holdings (AFRM) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Affirm Holdings (AFRM) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Affirm shares jumped Wednesday in after-hours trading following a beat on the top and bottom lines. The company reported a per share loss of 14 cents, while analysts were expecting a loss of 51 cents per share.

Affirm shares surge 16% after better-than-expected results, strong guidance

Affirm Holdings (AFRM) came out with a quarterly loss of $0.14 per share versus the Zacks Consensus Estimate of a loss of $0.45. This compares to loss of $0.69 per share a year ago.

Affirm Holdings (AFRM) Reports Q4 Loss, Tops Revenue Estimates

As consumers navigate a challenging economic environment, they are increasingly adopting buy now, pay later (BNPL) options to manage their spending. Affirm, a leading BNPL provider, reported Wednesday (Aug. 28) in its fourth quarter fiscal 2024 financial results that it saw 31% year-over-year growth in gross merchandise volume (GMV), reaching $7.

Affirm Sees Consumers Step Up BNPL Usage Amid Economic Challenges

Affirm stock popped as fiscal Q4 earnings and revenue beat. The company expects operating income profitability on a GAAP basis in fiscal Q4 2025.

Affirm Earnings Beat. Company Expects GAAP Profitability Soon.

Affirm Holdings Inc.'s stock AFRM soared 16% in after-hours trade Wednesday, after the buy-now-pay-later, or BNPL, company blew past estimates for its fiscal fourth quarter and said it expects to generate operating profit by the fourth quarter of fiscal 2025.

Affirm's stock soars 16% after earnings crush estimates and company sees path to profitability

SAN FRANCISCO--(BUSINESS WIRE)--Affirm Holdings, Inc. (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today reported financial results for its fourth quarter and fiscal year ended June 30, 2024. The results, which include a shareholder letter furnished to the U.S. Securities and Exchange Commission on Form 8-K, can be found in the “Events and Presentations” section of the Company's investor relations website at https://investors.affirm.com/. Affirm.

Affirm Reports Fourth Quarter and Fiscal Year 2024 Results

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Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Affirm Holdings (AFRM), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended June 2024.

Curious about Affirm Holdings (AFRM) Q4 Performance? Explore Wall Street Estimates for Key Metrics

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American stocks rose for the third consecutive week as focus shifted to macro events. The Federal Reserve published minutes of the last meeting on Wednesday while Jerome Powell will talk at the Jackson Hole Symposium on Friday.

Stocks to watch next week: LULU, BOX, AFRM, MDB, CRM, OKTA

Affirm's (AFRM) fiscal fourth-quarter results are likely to reflect growing active consumers.

News for Affirm Stock (AFRM)