AFRM

Affirm Holdings, Inc.

Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Affirm Holdings, Inc..

R40: 68$16.41B
$46.98-1.00 (-2.08%)● Live
Current Narrative

Affirm is viewed as a high-growth BNPL leader with upgrades from Morgan Stanley highlighting undervaluation and partnerships (e.g., QuickBooks, Amazon), but concerns over high interest rates, subprime risks, and political scrutiny create volatility; market sees it as overlevered but with strong GMV growth potential.

News

Latest Coverage

NewsFeb 5

Affirm Q2 FY2026 Earnings Preview: The BNPL Turnaround Story Wall Street Is Still Underpricing

Analysts expect $0.28 EPS but keep missing Affirm's turnaround — last two quarters beat by 80-130%. Holiday quarter could surprise again.

R40
NewsFeb 5

Morgan Stanley Upgrades Affirm to Overweight

Upgraded from equal weight to overweight with $76 PT, citing compelling entry point amid growth and credit concerns.

Reuters
In-DepthFeb 4

What Is Interesting About Short Interest

Short interest as a market sentiment gauge, squeeze mechanics step by step, what the levels mean, sector patterns, and who controls the big positions.

R40
NewsFeb 4

Affirm Faces Sell Recommendation

High 30%+ interest rates and risky lending lead to sell amid political scrutiny.

GuruFocus
NewsFeb 3

Affirm Stock Rating Upgraded by Morgan Stanley

Upgrade to overweight with $76 PT; beat Q1 estimates but high valuation noted.

MarketBeat
NewsJan 28

Affirm Down 10.4% After Exclusive QuickBooks Integration Deal

Partnership strengthens distribution; high-touch BNPL to profitable infrastructure shift.

Simply Wall St
See all news →
Rule of 402025 Q4
67.9
✓ Passing
Revenue Growth YoY+33.6%
+
FCF Margin+34.3%
History
54
Q1
79
Q2
53
Q3
63
Q4
2024 R40 +62
78
Q1
56
Q2
36
Q3
68
Q4
2025 R40 +59
ANALYST RATINGS
Buy$77
AFRM
Overweight$76
Upgrade
2026-02-03
Buy$100
Upgrade
2026-01-27
Buy$100
Initiated
2025-10-23
Overweight$89
Initiated
2025-10-22
Buy$101
Upgrade
2025-10-06
See all 16 ratings →
Revenue
2025Q4$933.3M
*Qtr, USD
EPS
0
2025Q4$0.23
*Qtr, USD per share
P/E Ratio
2025Q492.94
*Qtr, x
Free cash flow
0
2025Q4$320.2M
*Qtr, USD
Shares
Loading...
Cumulative FCF
0
2025Q4$486.8M
*Running total, USD
Company timeline

Earnings release dates

QuarterEnd datePublication dateSource
2025 Q42025-06-302026-02-05Link
2025 Q32025-03-312025-11-06Link
2025 Q22024-12-312025-08-07Link
2025 Q12024-09-302025-05-08Link
2024 Q42024-06-302025-02-06Link
2024 Q32024-03-312024-11-07Link
2024 Q22023-12-312024-08-08Link

Note: Affirm uses a June 30 fiscal year-end. Q1 = Jul–Sep, Q2 = Oct–Dec, Q3 = Jan–Mar, Q4 = Apr–Jun. This means fiscal quarters are reported ~1 month after the calendar quarter ends.

Background

Company History

ExchangeNASDAQ
IPO DateJan 13, 2021
IPO Price$49.00
Shares Outstanding349.37Mi
2012
Affirm Founded
Founded by Max Levchin, Nathan Gettings, Jeffrey Kaditz, and Alex Rampell as part of startup studio HVF.
2014
Max Levchin Becomes CEO
Max Levchin took over as CEO of Affirm.
2016
BNPL Service Expansion
Announced buy now, pay later service for additional e-commerce platforms including Kibo Commerce, BigCommerce, AspDotNetStorefront, and Zen Cart.
2019
Walmart Partnership
Announced partnership with Walmart to offer service at self-checkout kiosks in stores and on the Walmart website.
2021
IPO on NASDAQ
Listed on Nasdaq under symbol AFRM, raising about $1.2 billion in its IPO.
2021
Returnly Acquisition
Acquired Returnly for US$300 million.
2021
Amazon Partnership
Announced partnership with Amazon to make BNPL service available for certain customers.
2023
Restructuring & Layoffs
Laid off 19% of workforce as part of restructuring plan and shut down crypto unit.
2024
UK Expansion
Expanded services to the United Kingdom with installment loans.
2025
$3.22B Revenue Year
Reported $3.22 billion in revenue and processed $36.7 billion in GMV for fiscal year ended June 30, 2025.
Leadership

Key Players

Max Levchin
Founder & CEO
maboroshi
Co-founded PayPal; founded Affirm in 2012 to reinvent consumer credit with transparent, no-late-fee financing.
Rob O'Hare
CFO
Oversees financial operations, investor relations, and capital allocation strategy.
Libor Michalek
President
libor
Leads technology and product development; previously at YouTube and Google.
Wayne Pommen
President, Revenue
Drives merchant partnerships and revenue growth across all verticals.
Short Interest

Short interest data unavailable for AFRM.

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