Company: AFRM
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001820953-25-000012
Chunk: 29

Company: Affirm Holdings, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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Goodwill and Intangible AssetsThe changes in the carrying amount of goodwill during the six months ended December 31, 2024 were as follows (in thousands):Balance as of June 30, 2024$533,439 Adjustments (1)(11,740)Balance as of December 31, 2024$521,699 (1)Adjustments to goodwill during the six months ended December 31, 2024 primarily pertained to foreign currency translation adjustments.No impairment losses related to goodwill were recorded during the three and six months ended December 31, 2024. During the three and six months ended December 31, 2023, we recognized goodwill disposal losses of $1.0 million included in general and administrative expenses within the interim condensed consolidated statements of operations and comprehensive income (loss).Intangible assets consisted of the following (in thousands):December 31, 2024GrossAccumulated AmortizationNetWeighted Average Remaining Useful Life (in years)Merchant relationships$37,417 $(37,417)$— 0.0Developed technology39,167 (39,064)103 0.1Assembled workforce12,490 (12,490)— 0.0Trademarks and domains, definite1,404 (1,223)181 0.7Trademarks, licenses and domains, indefinite 11,559 — 11,559 IndefiniteOther intangibles350 — 350 IndefiniteTotal intangible assets$102,387 $(90,194)$12,193 June 30, 2024GrossAccumulated AmortizationNetWeighted AverageRemaining Useful Life(in years)Merchant relationships$37,847 $(36,741)$1,106 0.1Developed technology39,444 (39,311)133 0.0Assembled workforce12,490 (12,490)— 0.0Trademarks and domains, definite1,450 (1,165)285 1.0Trademarks, licenses and domains, indefinite11,628 — 11,628 IndefiniteOther intangibles350 — 350 IndefiniteTotal intangible assets$103,209 $(89,707)$13,502 Amortization expense for intangible assets was $0.6 million and $1.2 million for the three and six months ended December 31, 2024