Company: AFRM
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001820953-25-000052
Chunk: 38

Company: Affirm Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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):Three Months Ended March 31,Nine Months Ended March 31,2025202420252024Amortization of debt issuance costs (1)2026 Notes$148 $857 $1,575 $2,602 2029 Notes823 — 932 — Total amortization of debt issuance costs$970 $857 $2,507 $2,602 Coupon interest expense (1) (2)1,706 — 1,933 — Total interest expenses related to the convertible notes$2,676 $857 $4,440 $2,602 (1)Included in our interim condensed consolidated statement of operations and comprehensive income (loss) within other income, net. (2)The coupon interest expense is related to the 2029 Notes.As of March 31, 2025, the remaining life of the 2026 Notes and 2029 Notes is approximately 20 months and 56 months, respectively.Revolving Credit FacilityOn December 16, 2024, we entered into an amendment to our Revolving Credit Agreement in order to permit the incurrence of indebtedness pursuant to the 2029 Senior Convertible Notes. The facility contains certain financial covenants which may result in an acceleration of the maturity if not maintained, and requires payment of a monthly unused commitment fee of 0.20% per annum on the undrawn balance available. As of March 31, 2025, we were in compliance with all applicable covenants in the agreements.The aggregate future maturities of our funding debt, notes issued by securitization trusts and convertible notes consists of the following (in thousands):Maturity Fiscal YearMarch 31, 20252025$— 2026674,875 2027 (1)331,468 2028555,996 20292,403,923 Thereafter (1)3,229,237 Total$7,195,499 Deferred debt issuance costs(49,853)Total funding debt, net of deferred debt issuance costs$7,145,646 

(1)As of March 31, 2025, includes convertible senior notes due 2026 and 2029 with a carrying amounts of $248.7 million and $920.0 million, respectively. 

32

9.  Securitization and Variable Interest Entities

Consolidated VIEsWarehouse Credit FacilitiesWe established certain entities,