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 company has seen pressure in some consumer spending categories it caters to.

Affirm Still Bets Big on Debit+ for Buy Now, Pay Later Demand

Affirm is raising interest rates on its buy now, pay later loans. In an interview with Bloomberg News on Friday (Feb. 17), CEO Max Levchin said the company has convinced several major retailers — Dick's Sporting Goods and Shopify among them — to permit it to hike its interest rates.

Affirm Gets Merchant OK to Hike Interest Rates

Rising interest rates have raised funding costs and chilled investor demand for Affirm's loans.

Affirm Has Been Another Casualty of the Rapidly Rising Interest Rate Environment

Considering shares fell 90% last year, investors might be surprised to learn that there is still a bull case for Affirm Holdings Inc (NASDAQ: AFRM). But the fintech company, founded in 2012 and IPO'd in January 2021, has had a wild ride in its first two years of public trading, and it doesn't look like that will stop anytime soon.

Affirm: How To Still Make Money Here

Affirm's (AFRM) second-quarter fiscal 2023 results suffer from escalating operating expenses. Nevertheless, a growing active merchant base partly offset the downside.

Affirm (AFRM) Falls 18% on Q2 Earnings Miss, Trims '23 View

PHILADELPHIA , Feb. 15, 2023 /PRNewswire/ -- Investor lawyers at the Rosca Scarlato law firm are investigating alleged securities violations, corporate misconduct, and misrepresentations, as well as questionable business practices involving Affirm Holdings and/or its directors and officers, following the Consumer Financial Protection Bureau's ("CFPB") announcement of an inquiry into Affirm's "Buy Now, Pay Later" ("BNPL") credit program. The Rosca Scarlato attorneys are preparing to take action and seek compensation and/or other redress on behalf of any injured AFRM investors.

AFFIRM HOLDINGS (NASDAQ: AFRM) INVESTOR ALERT: POTENTIAL COMPENSATION CLAIMS: Rosca Scarlato Investor Lawyers Investigating

Affirm is a leading Buy Now Pay Later provider, which has deals with major players such as Amazon and other providers which contribute to over 60% of U.S. retail ecommerce sales. The company reported mixed financial results as it mixed both revenue and earnings expectations for Q2, FY23. This was mainly driven by short-term demand challenges, especially from its Peloton merchant.

Affirm: Short-Term Headwinds But Undervalued

Robinhood

Which of these broken fintech stocks will stabilize in 2023?

Better Fintech Stock: Robinhood vs. Affirm

The CE 100 Index slipped in a week dominated by earnings, retracing gains made earlier in the month.  The Index was down 4.5% overall, yet still has made a strong showing thus far in 2023, up more than 15.6% year to date through Feb. 10.

CE 100 Index Sinks as Affirm Leads Payment Names Down 8.5%

Lucid Group

I am going to highlight two stocks to avoid for now.

2 Stocks To Avoid Even After Falling 60%

Shares of Affirm Holdings Inc (NASDAQ:AFRM) are extending yesterday's dip -- last seen down 2.7% at $12.93 -- following a bear note from Morgan Stanley.

Affirm Stock Extends Losses on Post-Earnings Bear Note

The once-hot fintech company is crashing into the reality of higher interest rates.

Why I Won't Touch Affirm Stock

The lenders and platforms led the FinTech IPO Index down in a week, which logged an 8% loss. But for the group, overall, things are still in positive territory year to date, with a 24.6% surge.

Affirm, Lending Platforms Lead FinTech IPO Index 8% Lower

Digital Turbine

By early afternoon, the tech-heavy index was in the red.

These 2 Stocks Stole Away the Nasdaq's Thursday-Morning Gains

BigBear.ai Holdings

NVIDIA

Tech stocks have come roaring back to start 2023. And in many cases, that is for good reason.

3 Overvalued Tech Stocks Just Waiting to Get Clobbered

The company has had solid credit performance, but it is paying up for funding and faces a tougher outlook for volume growth.

Affirm's Big Problem Is Buying Now, Not Paying Later

Affirm Holdings Inc shares plummeted Thursday after the buy-now-pay-later fintech company announced plans to end its crypto program and cut its workforce by 19%.  In a letter to shareholders on Tuesday, CEO Max Levchin wrote, “In a period of increased economic uncertainty, we are doubling down on our core businesses, delaying projects with less certain revenue timelines, and aligning our operating expenses with revenue.

Affirm Holdings stock swoons after bad news deluge: 19% staff cut, earnings miss and the death of its crypto program

Affirm (NASDAQ: AFRM ) laid off 19% of its workers after a big earnings miss. These AFRM layoffs have the company joining an ever-increasing list of battered tech and finance companies.

Affirm Layoffs 2023: What to Know About the Latest AFRM Job Cuts

Look past the mass layoffs, an earnings miss and yet another downbeat forecast, and perhaps you'll find a glimmer of hope in Affirm Holdings Inc.'s latest report.

Affirm's stock sags after ‘broadly disappointing' earnings, but some bulls still see reason to hope

Although the revenue and EPS for Affirm Holdings (AFRM) give a sense of how its business performed in the quarter ended December 2022, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Affirm Holdings (AFRM) Reports Q2 Earnings: What Key Metrics Have to Say

For Affirm, growth is still in the mix, and demand is still there for buy now, pay later.  But the growth rates are decelerating, leading the company to slash staff and to shutter some operations — notably its crypto initiative.

Affirm Hits Speed Bumps, Slashes Staff as Consumer Demand for BNPL Decelerates

Affirm Holdings, Inc. (NASDAQ:AFRM ) Q2 2023 Earnings Conference Call February 8, 2023 5:00 PM ET Company Participants Zane Keller – Director, Investor Relations Max Levchin – Founder and Chief Executive Officer Michael Linford – Chief Financial Officer Conference Call Participants Ramsey El-Assal – Barclays Rob Wildhack – Autonomous Research Dan Perlin – RBC Capital Markets Jason Kupferberg – Bank of America Rayna Kumar - UBS Andrew Jeffrey – Truist Securities Bryan Keane – Deutsche Bank Moshe Orenbuch – Credit Suisse Chris Brendler – D.A. Davidson James Faucette – Morgan Stanley Eugene Simuni – MoffettNathanson Andrew Bauch – SMBC Nikko Securities Operator Good afternoon.

Affirm Holdings, Inc. (AFRM) Q2 2023 Earnings Call Transcript

Affirm Holdings (AFRM) delivered earnings and revenue surprises of -8.91% and 4.99%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Affirm Holdings (AFRM) Reports Q2 Loss, Misses Revenue Estimates

The buy now, pay later company expects to pay as much as $39 million in restructuring costs.

Affirm Cuts 500 employees, 19% of Its Workforce

Citing economic turbulence, buy now, pay later giant Affirm announced today that it is reducing its staff by 19%, or about 500 employees, and shutting down its crypto unit. That leaves the company with about 2,000 employees.

News for Affirm Stock (AFRM)