Company: AFRM
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050295
Chunk: 14

Company: Affirm Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 14
---
 originating bank partners and directly originated loans. Loans that are underwritten using our technology platform and originated by our originating bank partners are later purchased by us. We purchased loans from our originating bank partners in the amount of $8.7 billion and $6.4 billion during the three months ended September 30, 2025 and 2024, respectively. We directly originated $1.9 billion and $1.3 billion of loans during the three months ended September 30, 2025 and 2024, respectively.Our portfolio consists of interest bearing and non-interest bearing consumer loans with original term lengths of up to sixty months originated in markets including the U.S., U.K., and Canada, with the majority of loans originated within the U.S. While we view our loan portfolio as a single product segment, unsecured consumer loans, we consider factors such as country of origin, loan product, origination channel, merchant and various borrower characteristics to predict future losses.We closely monitor the performance of our loan receivables to manage and evaluate our exposure to credit risk. Credit risk management begins with initial underwriting and continues through to full repayment of a loan. To assess a consumer who requests a loan, we use, among other indicators, internally developed risk models that leverage detailed information from external sources, such as credit bureaus where available, as well as the consumer’s prior repayment history on our platform. We evaluate the credit quality of our loan receivable based on the aging status of the loan. Loan receivables are considered past due if either principal or interest has not been received within four calendar days of the contractual due date.

16

The following tables present an aging analysis of the amortized cost basis excluding accrued interest receivable, by fiscal year of origination, of loans held for investment by delinquency status as of September 30, 2025 and June 30, 2025 (in thousands):September 30, 2025Amortized Costs Basis by Fiscal Year of Origination20262025202420232022PriorTotalNon-delinquent loans$3,527,113 $3,003,940 $183,548 $35,701 $2,732 $128 $6,753,162 4 – 29 calendar days past due71,275 124,137 5,281 958 101 8 201,760 30 – 59 calendar days past due22,581 59,779 2,