Nasdaq AFRM: AFRM by A3M Investments — TradingView

Fiscal Year 2026 First Quarter Report (Previous Report)

Revenue: $933 million (up 33% year over year) – above expectations.
Gross merchandise sales: $10.4 billion (up 42% year over year) – continued acceleration.

Earnings: Second consecutive quarter of GAAP operating profit.

Growth drivers:

1. Confirmation card

The numbers are impressive:

• Cardholders: 2.8 million (up 101% year-on-year!).

• Card spend (total value of merchandise sold): $1.4 billion (+135%!).

• Cardholders spend 7 times more than ordinary users.

2. Affirm is integrated into all shopping platforms:

• Apple Pay: You can now pay offline with your Affirm card on iPhone. • Amazon, Shopify and Wayfair: Direct integration with major store payment systems.

• Worldpay: connects thousands of platforms. • Google: It will be a payment option for AI assistants.

3. Marketing costs dropped by 46% and efficiency improved.

• Delinquencies and charge-offs decreased despite portfolio growth. The internal AI assessment system operates very efficiently.

• Higher expectations for gross merchandise value sold and profit margins this year.