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

The "buy now, pay later" company delivered strong results. But one financial metric, in particular, is the key to its future.

This One Number Was the Biggest Deal in Affirm's Earnings Report

Affirm saw its stock price decline by more than 50% from its highs following a red-hot IPO in January of this year. The company benefits from secular tailwinds of buy-now-pay-later (BNPL) and posted strong fiscal Q3 results on May 10.

Affirm: Attractive Entry Levels In Sight

The freshly public fintech specialist reported its fiscal third-quarter results.

Why Affirm Stock Tanked on Tuesday

Affirm Holdings, Inc. (AFRM) CEO Max Levchin on Q3 2021 Results - Earnings Call Transcript

Buy now, pay later (BNPL) platform Affirm's fiscal third quarter earnings results posted Monday (May 10) showed continued embrace of BNPL and pointed toward a significant rebound in the travel vertical. In terms of headline numbers, revenues surged to $230.7 million from $138.3 million in the year-ago period, outpacing the $198 million analysts had expected.

Affirm Sees Sharp Snapback In Travel Spending, Growth In Shop Pay Installments

Affirm Holdings Inc. topped revenue expectations Monday afternoon while delivering an optimistic forecast for the current period.

Earnings Results: Affirm beats on revenue, sees early recovery in travel spending

SAN FRANCISCO--(BUSINESS WIRE)--Affirm Holdings, Inc. (NASDAQ: AFRM) (“Affirm” or the "Company”), the payment network that empowers consumers and helps merchants drive growth, today reported financial results for its fiscal 2021 third quarter ended March 31, 2021. "Affirm's strong third quarter results reflect continued progress toward building the most valuable and transparent financial network for consumers and merchants," said Max Levchin, founder and CEO of Affirm. "During the period, we mo

Affirm Reports Fiscal Year 2021 Third Quarter Results

After hitting a $139 peak in February, AFRM stock has dropped over 50%. But despite the drop, there are some real problems with the business model that could spell more trouble for Affirm.

Don't Bother Catching Falling Knife Affirm Stock Just Yet

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SAN FRANCISCO--(BUSINESS WIRE)--Affirm Holdings, Inc. (NASDAQ:AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced that it has completed its acquisition of Returnly, a leader in online return experiences and post-purchase payments. “We are excited to welcome Returnly's talented team to the Affirm family as we grow our network of consumers and merchants,” said Max Levchin, founder and CEO of Affirm. “We have demonstrated how Affirm can accelerate g

Affirm Completes Acquisition of Returnly

The consumer payments innovator isn't making money, and clues from Australian competitors suggest it may struggle in the future as well.

Affirm Is Down 50%, and It Might Get Worse

Buy now, pay later is a hot industry, and Affirm is a major player.

Is Affirm the Growth Stock for You?

Affirm Holdings, a company that specializes in providing “buy now, pay later” (BNPL) solutions for consumers, has reached an agreement to acquire e-commerce returns and post-purchase company Returnly. Affirm (NASDAQ: AFRM) will pay $300 million for Returnly.

Affirm Holdings acquires e-commerce returns specialist Returnly

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SAN FRANCISCO--(BUSINESS WIRE)--Affirm Holdings, Inc. (NASDAQ: AFRM), a more flexible and transparent alternative to credit cards, today announced it will host a conference call and webcast to discuss third quarter fiscal year 2021 financial results on Monday, May 10, 2021 at 5:00pm ET. Hosting the call will be Max Levchin, Founder and Chief Executive Officer, and Michael Linford, Chief Financial Officer. The conference call will be webcast live from the Company's investor relations website at

Affirm to Announce Third Quarter 2021 Results on May 10, 2021

SAN FRANCISCO--(BUSINESS WIRE)--Affirm, a more flexible and transparent alternative to credit cards, today announced a partnership with Ulla Johnson, the esteemed label of effortless, free-spirited womenswear. Now, eligible consumers can shop Ulla Johnson's collection of refined, globally-inspired and meticulously constructed dresses, handbags, shoes and more, while paying over time. By selecting Affirm at checkout on UllaJohnson.com, approved customers can split the total cost of any purchase

Affirm and Ulla Johnson Bring Customers a New Way to Buy Signature Statement Pieces

San Francisco-based Affirm announced Wednesday (April 21), that it has struck a deal to acquire Returnly, which deals with online returns and post-purchase payments. A press release said Affirm will buy Returnly for total of $300 million in cash and equity.

BNPL Firm Affirm To Buy Returnly For About $300 Million In Cash, Equity

Affirm Holdings Inc. plans to acquire Returnly, the company announced Wednesday. The deal has a total cash and equity consideration of $300 million.

Affirm to purchase Returnly in $300 million deal

SAN FRANCISCO--(BUSINESS WIRE)--Affirm Holdings, Inc. (NASDAQ:AFRM) today announced that it has entered into a definitive agreement to acquire Returnly, a leader in online return experiences and post-purchase payments. Under the terms of the agreement, Affirm will acquire Returnly for total cash and equity consideration of approximately $300 million. Returnly serves more than 1,800 merchants, has helped process more than $1 billion in returns, and has been used by over eight million shoppers. W

Affirm to Acquire Returnly

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Last year seemed rather like 1999, as technology initial public offerings that made little or no money came out and rocketed higher.

4 Formerly Red-Hot IPOs Have Huge Long-Term Upside Potential Now

Affirm Holdings was one of the hottest public offerings at the start of the year. I was very cautious and, even after the share was cut in half, the valuation still looks quite high, certainly given the deterioration in growth rates and margins.

Affirm: The Valuation Is Still Too High, Even After It Was Cut In Half

Shares of Affirm Holdings Inc. are up 2% in premarket trading Friday after Seaport Global analyst Chris Brendler upgraded the stock to buy from neutral and set an $80 price target. He sees the stock as more attractive following a 34% selloff since he initiated coverage of the company 10 weeks back, whereas the S&P 500 has gained 7% in that time.

Affirm stock could head higher amid 'hypergrowth' of buy-now-pay-later offerings, analyst says in upgrade

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Affirm stock is still not worth its present market value. And given its loan losses, AFRM stock is too highly valued until it gets profitable.

Affirm Stock Is Still Not Worth Anywhere Near Its Present Market Value

Some see the digital-payments stock as a credit card disruptor. Here's why you might want to pick up some shares.

News for Affirm Stock (AFRM)