Affirm Holdings Inc
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
AFRM$65.95-3.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited)
(in thousands, except share and per share amounts)
| Three Months Ended March 31, | Nine Months Ended March 31, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | ||||
| Merchant network revenue | $159,292 | $119,013 | $493,599 | $366,181 |
| Card network revenue | 35,676 | 29,469 | 108,421 | 85,294 |
| Total network revenue | 194,968 | 148,482 | 602,020 | 451,475 |
| Interest income | 315,712 | 178,270 | 866,737 | 470,393 |
| Gain on sales of loans | 40,183 | 32,813 | 127,170 | 156,015 |
| Servicing income | 25,294 | 21,413 | 67,887 | 64,277 |
| Total revenue, net | 576,157 | 380,978 | 1,663,814 | 1,142,160 |
| Operating expenses | ||||
| Loss on loan purchase commitment | 44,143 | 31,224 | 132,639 | 105,256 |
| Provision for credit losses | 122,443 | 66,438 | 343,019 | 237,377 |
| Funding costs | 90,449 | 51,188 | 248,997 | 120,005 |
| Processing and servicing | 88,209 | 65,229 | 254,083 | 186,096 |
| Technology and data analytics | 124,828 | 161,792 | 377,626 | 463,500 |
| Sales and marketing | 132,950 | 140,942 | 441,081 | 493,149 |
| General and administrative | 128,721 | 139,266 | 401,832 | 458,877 |
| Restructuring and other | 5,203 | 34,934 | 6,924 | 34,934 |
| Total operating expenses | 736,946 | 691,013 | 2,206,201 | 2,099,194 |
| Operating loss | $(160,789) | $(310,035) | $(542,387) | $(957,034) |
| Other income, net | 27,743 | 103,522 | 70,999 | 175,067 |
| Loss before income taxes | $(133,046) | $(206,513) | $(471,388) | $(781,967) |
| Income tax (benefit) expense | 890 | (836) | 1,233 | (2,584) |
| Net loss | $(133,936) | $(205,677) | $(472,621) | $(779,383) |
| Other comprehensive income (loss) | ||||
| Foreign currency translation adjustments | $(10,879) | $31 | $(8,953) | $(16,993) |
| Unrealized gain (loss) on securities available for sale, net | (30) | 4,520 | 6,176 | 2,061 |
| Gain (loss) on cash flow hedges | 750 | (257) | 899 | (257) |
| Net other comprehensive income (loss) | (10,159) | 4,294 | (1,878) | (15,189) |
| Comprehensive loss | $(144,095) | $(201,383) | $(474,499) | $(794,572) |
| Per share data: | ||||
| Net loss per share attributable to common stockholders for Class A and Class B | ||||
| Basic | $(0.43) | $(0.69) | $(1.53) | $(2.65) |
| Diluted | $(0.43) | $(0.69) | $(1.53) | $(2.65) |
| Weighted average common shares outstanding | ||||
| Basic | 312,626,728 | 297,204,715 | 307,995,889 | 293,915,268 |
| Diluted | 312,626,728 | 297,204,715 | 307,995,889 | 293,915,268 |
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