Affirm Holdings revenue increased 51% in Q3: find out more

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on May 8, 2024
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  • Affirm reported its financial results for third quarter on Wednesday.
  • Here's what its CEO Max Levchin said in a press release today.
  • Affirm stock is up roughly 7.0% following the earnings report.

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Affirm Holdings Inc (NASDAQ: AFRM) is pushing to the upside in premarket on Wednesday after coming in ahead of Street estimates for its fiscal third quarter. 

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Affirm stock rallies on impressive outlook

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The stock is being rewarded also because $AFRM issued upbeat guidance for the future. The financial technology company expects its revenue to fall between $585 million and $605 million in the current quarter.

Analysts, in comparison, were at $576 million. Max Levchin – the chief executive of Affirm Holdings said in a letter to shareholders today:

Our consumers love Affirm. We cannot wait to deliver a few more amazing products and services in the coming weeks and months for them – and for the merchants where they shop.

The Nasdaq-listed firm forecasts up to $6.95 billion in gross merchandise volume (GMV) in Q4. Affirm stock is now up nearly 20% versus its year-to-date low. 

Notable figures in Affirm Q3 earnings release

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  • Lost $133.93 million versus the year-ago $205.67 million
  • Per-share earnings also narrowed from 69 cents to 43 cents
  • Active consumers increase 13% to 18.1 million as per the earnings report
  • Revenue climbed 51% year-over-year to $576 million
  • Consensus was 69 cents a share loss on $550 million in revenue

Affirm saw its GMV grow 36% to $6.3 billion in its thid quarter. CEO Levchin also said on Wednesday:

We feel quite comfortable executing in the current economic and interest rate environment. We remain firmly in control of credit outcomes.

Note that $AFRM is no longer the exclusive provider of BNPL loans at Walmart after peer One launched its buy now pay later services in April as Invezz reported here.

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