Affirm Holdings, Inc. reported significant financial growth in its latest quarterly results, with total revenue reaching $1.12 billion for the three months ended December 31, 2025, a 30% increase from $866.4 million in the same period last year. For the six months ending December 31, 2025, revenue rose to $2.06 billion, up 31% from $1.56 billion year-over-year. The company achieved a net income of $129.6 million for the quarter, compared to $80.4 million in the prior year, marking a 61% increase. This performance reflects a strong recovery from a net loss of $19.9 million in the same period of 2024.
The company experienced notable changes in its operational metrics, with a 36% increase in Gross Merchandise Volume (GMV) to $13.8 billion for the quarter, driven by a growing active consumer base, which reached approximately 25.8 million, up 23% from the previous year. Transactions per active consumer also increased by 20%, indicating enhanced engagement on the platform. Affirm's merchant network revenue surged by 34% to $328.4 million, attributed to the increase in GMV and a diversified mix of loan products, including a significant rise in 0% APR installment loans.
Strategically, Affirm has expanded its product offerings and partnerships, including the introduction of the Affirm Card, which allows consumers to make purchases at merchants not fully integrated with Affirm. The company also submitted applications to establish Affirm Bank, a proposed Nevada-chartered industrial loan company, which aims to enhance its funding capabilities and operational flexibility. This move is expected to complement existing partnerships with banks and diversify funding sources.
Operationally, Affirm's total assets increased to $12.96 billion as of December 31, 2025, up from $11.15 billion at the end of June 2025. The company reported a significant rise in loans held for investment, which reached $8.77 billion, reflecting a robust demand for its lending products. The allowance for credit losses also increased to $478.1 million, indicating proactive measures to manage credit risk amid a fluctuating economic environment. Looking ahead, Affirm anticipates continued growth driven by its innovative product offerings and expanding merchant partnerships, while closely monitoring macroeconomic conditions that could impact consumer behavior and loan performance.
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.
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