Affirm Holdings, Inc.
For the period ended Jun 30, 2025. Filed Aug 28, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Aug 28, 2025
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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Consolidated Statements of Operations and Comprehensive Income (Loss)
(in thousands, except share and per share amounts)
| June 30, 2025 | June 30, 2024 | June 30, 2023 | |
|---|---|---|---|
| Revenue | |||
| Merchant network revenue | $882,658 | $674,607 | $507,600 |
| Card network revenue | 231,308 | 151,401 | 119,338 |
| Total network revenue | 1,113,966 | 826,008 | 626,938 |
| Interest income | 1,608,221 | 1,204,355 | 685,217 |
| Gain on sales of loans | 381,622 | 197,153 | 188,341 |
| Servicing income | 120,602 | 95,483 | 87,489 |
| Total revenue, net | $3,224,412 | $2,322,999 | $1,587,985 |
| Operating expenses | |||
| Loss on loan purchase commitment | $242,264 | $180,395 | $140,265 |
| Provision for credit losses | 616,683 | 460,628 | 331,860 |
| Funding costs | 425,451 | 344,253 | 183,013 |
| Processing and servicing | 457,849 | 343,249 | 257,343 |
| Technology and data analytics | 589,723 | 501,857 | 615,818 |
| Sales and marketing | 434,847 | 576,405 | 638,280 |
| General and administrative | 545,053 | 525,291 | 586,398 |
| Restructuring and other | (184) | 6,768 | 35,870 |
| Total operating expenses | 3,311,685 | 2,938,846 | 2,788,847 |
| Operating loss | $(87,273) | $(615,847) | $(1,200,862) |
| Other income, net | 148,737 | 100,320 | 211,617 |
| Income (loss) before income taxes | $61,464 | $(515,527) | $(989,245) |
| Income tax expense (benefit) | 9,279 | 2,230 | (3,900) |
| Net income (loss) | $52,186 | $(517,757) | $(985,345) |
| Other comprehensive income (loss) | |||
| Foreign currency translation adjustments | $6,025 | $(13,655) | $(8,143) |
| Unrealized gain (loss) on securities available for sale, net | 3,297 | 6,857 | (882) |
| Gain (loss) on cash flow hedges | (2,826) | 656 | 751 |
| Net other comprehensive income (loss) | 6,496 | (6,142) | (8,274) |
| Comprehensive income (loss) | $58,682 | $(523,899) | $(993,619) |
| Per share data: | |||
| Net income (loss) per share attributable to common stockholders for Class A and Class B | |||
| Basic | $0.16 | $(1.67) | $(3.34) |
| Diluted | $0.15 | $(1.67) | $(3.34) |
| Weighted average common shares outstanding | |||
| Basic | 322,851,873 | 309,857,129 | 295,343,466 |
| Diluted | 341,023,566 | 309,857,129 | 295,343,466 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.