Affirm Holdings, Inc. reported significant financial performance improvements in its latest quarterly filing, with total revenue reaching $933.3 million for the three months ended September 30, 2025, a 34% increase from $698.5 million in the same period last year. The company achieved a net income of $80.7 million, a substantial turnaround from a net loss of $100.2 million in the prior year. This marked a notable operating income of $63.7 million, compared to an operating loss of $132.6 million in the previous year, reflecting a 148% improvement.

The company's revenue growth was driven by increases across various segments, including merchant network revenue, which rose by 36% to $251.1 million, and card network revenue, which surged by 46% to $69.3 million. Interest income also saw a 20% increase, totaling $454.1 million, while gains on sales of loans increased by 87% to $119.0 million. The overall growth in revenue was attributed to a 42% increase in gross merchandise volume (GMV), which reached $10.8 billion, supported by a growing active consumer base that expanded to 24.1 million, up 24% year-over-year.

Operationally, Affirm has made strategic advancements, including the expansion of its product offerings and partnerships. The company has focused on enhancing its technology platform, which has allowed it to optimize loan origination and servicing processes. As of September 30, 2025, Affirm's loans held for investment increased to $7.2 billion, up from $7.0 billion in the previous quarter. The company also reported a decrease in average order value (AOV) to $260 from $279, indicating a diversification in its merchant base and a shift towards lower AOV transactions.

Looking ahead, Affirm's management expressed optimism about future growth, citing the potential for increased consumer engagement and the expansion of its merchant partnerships. The company is also focused on maintaining a diverse funding model to support its operations amid fluctuating macroeconomic conditions, including interest rate changes and consumer spending patterns. Affirm's liquidity position remains strong, with $2.2 billion in cash and cash equivalents and available for sale securities, alongside $5.4 billion in available funding debt capacity. The company anticipates that its strategic initiatives will continue to drive growth and profitability in the coming quarters.

About Affirm Holdings, Inc.

Affirm Holdings, Inc. operates a technology-driven payment platform offering transparent, consumer-friendly financing solutions. It provides point-of-sale installment loans, including 0% APR and interest-bearing options, to a broad consumer base through partnerships with approximately 377,000 merchants across diverse industries. Affirm’s proprietary risk models and machine learning enable tailored credit underwriting, supporting merchants in increasing sales while promoting responsible consumer spending. The company generates revenue from merchant fees and consumer interest income.

This description was generated via AI from an annual report. Updated 8 months ago.

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