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Affirm Reports Better-Than-Expected Q1 Results: Details
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Affirm Reports Better-Than-Expected Q1 Results: Details
Nov 9, 2024 12:43 PM

Affirm Holdings, Inc. ( AFRM ) reported its first-quarter results after Thursday's closing bell. Here's a look at the key figures from the quarter.   

The Details: Affirm reported quarterly losses of 31 cents per share, which beat the analyst consensus estimate for losses of 35 cents. Quarterly revenue came in at $698.47 million which beat the analyst consensus estimate of $664.01 million and is an increase over sales of $496.54 million from the same period last year.

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“We continued driving accelerated growth while delivering consistent credit outcomes and managing the business to our target of 3-4% RLTC as a percentage of GMV, which stood at 3.8% this quarter. Year-over-year GMV growth re-accelerated, and growth in active consumers accelerated for the third consecutive quarter,” said Max Levchin, Affirm’s CEO.

“Transactions per active consumer grew 25% year over year to 5.1, and trailing 12-month GMV per active consumer grew 11% year over year to $1,500. We continue to expect to reach GAAP Operating Income profitability in FQ4'25,” Levchin added.

Outlook: Affirm sees second-quarter revenue of between $770 million and $810 million and fiscal year 2025 GMV of more than $34 billion.

AFRM Price Action: According to Benzinga Pro, Affirm shares are down 0.71% after-hours at $48.45 at the time of publication Thursday.

Read More: 

Trump’s Potential ‘Health Czar’ Robert F. Kennedy Jr. Rattles Vaccine Stocks: ‘Shoot First Reaction’

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