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

Shopify

Shopify signed a deal in July to make Affirm its provider of installment loans. In exchange, Shopify was given the option to buy over 20 million Affirm shares.

Shopify just made a $2 billion windfall on Affirm IPO, six months after their partnership

Today shares of Affirm, a buy-now-pay-later unicorn, started trading above $90 per share, far above its $49 per-share IPO price, a figure that was already miles above the company's early expectations. The pop comes after Affirm raised its pricing range earlier this week, to $41 to $44 per share, up from an initial range of […]

Affirm doubles after starting to trade despite strong IPO pricing

Affirm Holdings Inc. shares are surging in midday trading Wednesday after the financial-technology company made its public debut.

Affirm stock rockets after IPO

It's been almost 10 years since PayPal co-founder Max Levchin launched Affirm, but the provider of buy now, pay later (BNPL) installment loans officially joined the ranks of the publicly-traded elite Wednesday (Jan. 13), after strong demand for its initial public offering (IPO) gave it an initial value of over $12 billion. While Affirm's long-awaited path […]

Hot Affirm IPO Points To Rising Competition And Demand In BNPL Segment

Founded in 2013 by PayPal co-founder Max Levchin, Affirm has become a prominent in the "buy now pay later" space that offers point-of-sale loans.

Max Levchin's Affirm pops more than 80% as trading starts

Affirm Holdings, Inc. announced on Tuesday that it priced its IPO at $49 per share, coming in slightly above the most recently marketed price range of $41 to $44, and well above the initial expected range of $33 to $38 per share. The San Francisco-based provider of installment loans to online shoppers now expects to raise $1.2 billion when it begins trading on Wednesday under the ticker 'AFRM,' according to a regulatory filing.

Affirm prices IPO above expected range at $49 per share, raising $1.2 billion for the point-of-sale fintech firm (AFRM)

Today's Affirm IPO brings the buy-now-pay-later fintech to investors eager to get in on what could be the year's first blockbuster initial public offering. What's under the hood of the listing debut?

AFRM Stock IPO: When Does Affirm Go Public? What Is the Affirm IPO Price Range?

Online lender Affirm Holdings Inc. (NASDAQ: AFRM) has raised roughly $1.2 billion by pricing its initial public offering (IPO) at $49 per share, above the expected range of $41 to $44, Bloomberg reports. What Happened: Affirm is a fintech company providing installment loans to online shoppers and is led by PayPal Holdings Inc (NASDAQ: PYPL) co-founder Max Levchin.

Affirm Raises $1.2 Billion, Pricing Above Range In Hot IPO Market

Online lender Affirm Holdings Inc. (NASDAQ: AFRM) has raised roughly $1.2 billion by pricing its initial public offering (IPO) at $49 per share, above the expected range of $41 to $44, the company announced Tuesday.  What Happened: Affirm is a fintech company providing installment loans to online shoppers and is led by PayPal Holdings Inc (NASDAQ: PYPL) co-founder Max Levchin.

Affirm Raises $1.2B, Pricing Above Range In Hot IPO Market

SAN FRANCISCO--(BUSINESS WIRE)--Affirm, a more flexible and transparent alternative to credit cards, today announced the pricing of its initial public offering of its Class A common stock at a price of $49.00 per share. Affirm is offering 24,600,000 shares of its Class A common stock. The shares are expected to begin trading on the Nasdaq Global Select Market on January 13, 2021 under the symbol "AFRM" and the offering is expected to close on January 15, 2021, subject to customary closing condi

Affirm Announces Pricing of Initial Public Offering

Affirm, which provides installment payments to online consumers, priced its planned initial public offering (IPO) at $49 per share, higher than its marketed range of $41 to $44 per share, and is on track to raise over $1.1 billion, Bloomberg reported. The information comes from anonymous sources quoted by Bloomberg.

Affirm IPO Now On Track To Raise More Than $1.1 Billion

Affirm Holdings Inc., which lets people purchase goods and pay over time, reportedly priced its initial public offering well above its target at $49 a share late Tuesday to raise at least $1.2 billion.

IPO Report: Affirm reportedly prices IPO well above target to raise $1.2 billion

The Affirm IPO is offering 24.6 million shares at a price range of $41 to $44. That's an increase from earlier plans to price shares at $33 to $38, giving it a valuation near $10 billion.

Affirm IPO, The First Tech Offering Of 2021, Aims To Raise $1.1 Billion

Buy now, pay later (BNPL) platform Affirm boosted the price range of its initial public offering (IPO), potentially raising $1.08 billion, according to a Monday (Jan. 11) filing with the Securities and Exchange Commission (SEC). The Silicon Valley startup is planning to offer 24.6 million shares of its common stock through the IPO, with a […]

Affirm Aims At Over $10 Billion Valuation In New IPO Filing

Affirm Holdings Inc. announced in a Monday morning filing that it's raising the expected pricing range for a planned initial public offering. The payment-technology company, which lets consumers make online purchases in installments, now expects its stock to price at $41 to $44 a share.

Affirm raises expected pricing range for IPO

Poshmark

After a roaring end to 2020, IPO activity is expected to pick up even further in January.

Petco, Affirm, and Poshmark Plan to Go Public Next Week. The IPO Market Is Open.

Given our interest in consumer finance, we have been following the initial public offering process for Affirm and believe it is a quality company worthy of consideration for investment. In reviewing the Affirm Form S-1, we were struck by the many similarities between its business and that of Atlanticus.

Affirm Holdings' Valuation Supportive Of Our Positive Outlook For Atlanticus Holdings

Following several prominent debuts last year, start-ups want to keep up the momentum.

Affirm and Poshmark Hope to Keep the IPO Boom Going in 2021

Affirm's business model is a payment solution, enabling consumers to buy now and pay later. Its revenues are growing at a strong clip, reaching close to triple digits.

News for Affirm Stock (AFRM)