AFRM
Affirm Holdings, Inc.73.39
+7.73+11.8%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
24.22BP/E (TTM)
106.36Basic EPS (TTM)
0.69Dividend Yield
0%Recent Filings
10-K
FY2025 results
Affirm Holdings, Inc. reported strong FY2025 results with GMV up 38% to $36.7B, revenue up 39% to $3.2B, and net income of $52M vs. $518M loss in FY2024. The company achieved GAAP operating income profitability in Q4 FY2025. Key drivers included growth in top merchants, direct-to-consumer products like Affirm Card, and increases in active merchants (377K) and consumers (23M). Credit losses were managed with provision at 5.6% of loans. Funding mix optimized with $6.5B average loans held for investment. Balance sheet strengthened with $2.2B cash and $7.6B debt. Outlook focuses on consumer engagement and international expansion amid economic uncertainty.
8-K
Affirm's Q4 GMV soars 43%
Affirm Holdings crushed Q4 fiscal 2025 with GMV surging 43% to $10.4 billion, fueled by top merchants, 0% APR loans, and the Affirm Card's explosive 132% GMV jump to $1.2 billion. Revenue climbed 33% to $876 million, flipping operating income positive at $58 million—7% of revenue—while RLTC hit $425 million, up 37%. Credit stayed tight, with delinquencies dipping 18 basis points year-over-year. Profitability arrived right on schedule. Yet one enterprise partner may shift volumes to its own wallet by Q2 2026.
8-K
Affirm approves Nevada reincorporation
Affirm Holdings stockholders approved reincorporation from Delaware to Nevada on June 25, 2025, with 675 million votes for versus 125 million against. The shift takes effect July 1, 2025, swapping Delaware governance for Nevada's laws and new charter and bylaws. No disruption hits business, jobs, or assets—yet stockholder rights evolve. Trading persists on Nasdaq as AFRM.
8-K
Affirm board shakeup adds Costco finance veteran
Affirm Holdings' board loses Keith Rabois, who resigned effective June 30, 2025, without any disagreements on operations or policies. The board quickly appointed Richard Galanti, retired Costco CFO with decades in retail finance and operations, as a Class II director effective July 1, 2025, also joining the Compensation Committee. Galanti's expertise bolsters Affirm's governance in finance and investor relations. He receives $500,000 in initial RSUs vesting over three years, plus prorated annual awards. This seamless transition strengthens board depth amid evolving fintech demands.
10-Q
Q3 FY2025 results
Affirm Holdings swung to a $2.8M net profit in Q3 FY2025 ended March 31, 2025, from a $133.9M loss a year earlier, as revenue jumped 36% y/y to $783.1M on 36% higher GMV of $8.6B, with merchant network up 34% y/y to $214.0M and interest income rising 28% y/y to $402.7M. Operating loss narrowed to $8.4M from $160.8M, driven by 44% y/y lower sales and marketing expenses, while provision for credit losses grew 20% y/y to $147.3M amid 25% higher average loans held for investment. Diluted EPS of $0.01 matched basic, confirmed against 344.2M diluted shares with no anti-dilution flagged. Cash and equivalents climbed to $1.4B, with $719.3M operating cash flow for nine months; total debt stood at $7.1B including $1.2B convertible notes (2026/2029 maturities) and $4.1B securitization notes, with $330M revolver undrawn and in covenant compliance. No M&A or regulatory events noted. Yet competition from traditional lenders and fintech rivals pressures margins.
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