The earnings call reflected strong overall performance, highlighted by significant growth in GMV, positive financial outlook, and successful strategic partnerships. However, challenges such as increased loan loss reserves and competitive pressures were noted. Despite these concerns, the sentiment remains optimistic due to healthy credit performance and strategic initiatives.

Company Guidance -

Q4 2025

In the Affirm Holdings Third Quarter Fiscal 2025 earnings call, the company provided guidance indicating an improvement in their outlook for the current quarter and fiscal year. They highlighted a strategic focus on growth opportunities with strong credit quality and lifetime value (LTV) characteristics. The call emphasized Affirm's commitment to balancing growth with profitability as they aim to become a GAAP profitable business. The company noted that they will continue to be prudent with their spending to seize market opportunities, while ensuring excellent credit performance. Affirm also mentioned positive traction with their 0% APR product, which, despite lower revenue and return on loan-to-cost (RLTC) compared to interest-bearing loans, offers superior credit quality and long-term customer value. Additionally, the company reported broad-based growth in Gross Merchandise Volume (GMV), with March showing a peak 40% year-on-year increase, driven by strong performance across both direct-to-consumer services and their merchant base.

Strong Growth in Gross Merchandise Volume (GMV)

GMV growth was broad-based, with a 40% year-on-year increase in March, driven by strong performance across various merchant categories and direct-to-consumer services.

Improved Financial Outlook

The company is pleased to improve its outlook for the current quarter and the fiscal year, leaning into growth opportunities with excellent credit quality while balancing growth and profitability.

Successful 0% APR Promotions

Affirm experienced excellent traction with its 0% APR product, which drives brand halo and consumer attachment, leading to high credit quality and increased conversion rates.

Partnerships and Expansions

Affirm announced a partnership with Costco and renewed its agreement with Shopify through 2028, indicating strong merchant relationships and expansion opportunities.

Healthy Credit Performance

The company reports healthy repayment rates and an increase in prepayments, indicating strong consumer credit performance.

Affirm Holdings (AFRM) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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AFRM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 28, 2025	2025 (Q4)	0.12 / -	-0.14	―	―	―
May 08, 2025	2025 (Q3)	>-0.01 / 0.01	-0.43	102.33% (+0.44)
Feb 06, 2025	2025 (Q2)	-0.13 / 0.25	-0.54	146.85% (+0.79)
Nov 07, 2024	2025 (Q1)	-0.28 / -0.31	-0.57	45.61% (+0.26)
Aug 28, 2024	2024 (Q4)	-0.48 / -0.14	-0.69	79.71% (+0.55)
May 08, 2024	2024 (Q3)	-0.70 / -0.43	-0.69	37.68% (+0.26)
Feb 08, 2024	2024 (Q2)	-0.72 / -0.54	-1.1	50.91% (+0.56)
Nov 08, 2023	2024 (Q1)	-0.70 / -0.57	-0.86	33.72% (+0.29)
Aug 24, 2023	2023 (Q4)	-0.86 / -0.69	-0.65	-6.15% (-0.04)
May 09, 2023	2023 (Q3)	-0.92 / -0.69	-0.19	-263.16% (-0.50)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

AFRM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 08, 2025	$54.26	$46.41	-14.47%
Feb 06, 2025	$61.75	$75.22	+21.81%
Nov 07, 2024	$48.79	$46.48	-4.73%
Aug 28, 2024	$31.58	$41.66	+31.92%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.