Earnings call

Affirm Holdings, Inc. Affirm Holdings, Inc. · Q4 FY2026 call

Call heldAug 27, 2026
Time5:00 p.m. Eastern
CEOMax Levchin

What the CEO argued

Levchin keeps prepared remarks to a minute by design and spends the call in Q&A. His one framing sentence was that the June quarter was Affirm's most profitable ever even setting the tax-allowance release aside, and he announced Michael Linford's promotion to President and Pat Suh's to SVP and GM of Global Markets. On credit he declined the macro read entirely, arguing that Affirm underwrites roughly 100 million individual decisions a quarter and therefore controls its own credit outcome rather than inheriting the consumer's.

More from Max Levchin

What they said

The quarter without the tax line
fiscal fourth quarter was our most profitable quarter ever, even without the tax allowance release.
Max Levchin · Founder and CEO, Affirm
The tax rate once the allowance release is behind them
We think on a run rate basis, the GAAP tax rate lands in the mid to high 20% range.
Rob O'Hare · CFO, Affirm
How Affirm frames its credit exposure
We are benefiting tremendously from the ability to say yes and no to every transaction. So we are literally choosing the loans we want to make in real time in very small increments, roughly 100 million times a quarter.
Max Levchin · Founder and CEO, Affirm
Why the RLTC guide sits above the mid-term range
just with the execution that we have seen within the debt capital markets, we brought on a capital base that gives us a profile and a funding cost that we think should carry on through FY 2027.
Rob O'Hare · CFO, Affirm

In the order they were said. Pick a name to read only that speaker.

On the call

  • Zane Keller — Head of Investor Relations, Affirm
  • Michael Linford — President, Affirm
  • Rob O'Hare — CFO, Affirm

About these quotes

Every passage above is quoted verbatim from Affirm Holdings, Inc.'s Q4 FY2026 earnings call of Aug 27, 2026, checked against the recording's transcription word for word. The call states no reproduction restriction, but the text captured here is a third party's transcription of it, and that transcription carries no speaker attribution for this call — the segments are stored as consecutive turns without names. Speakers on the published quotes are attributed from the questions they answer and from the introduction, which names Max Levchin, Michael Linford and Rob O'Hare as the hosts. This page quotes from the call rather than reproducing it; the complete recording sits at Affirm's own investor relations site. Figures spoken on a call are management's own and are checked against the release before they are used anywhere else on this site.