Company: AFRM
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001820953-25-000012
Chunk: 140

Company: Affirm Holdings, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 140
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 2024, we had approximately 5.3 transactions per active consumer, an increase of 22% compared to December 31, 2023. The increase was primarily due to platform growth, a higher frequency of repeat users driven by consumer engagement, and growth of Affirm Card active consumers. As of December 31, 2024, Affirm Card represented approximately 10% of the total number of transactions compared to approximately 4% as of December 31, 2023.

64

Results of Operations 

The following tables set forth selected interim condensed consolidated statements of operations and comprehensive income (loss) data for each of the periods presented:

Three Months Ended December 31,Six Months Ended December 31,20242023$%20242023$%(in thousands, except percentages)RevenueMerchant network revenue$244,895 $188,357 $56,538 30 %$429,234 $334,307 $94,927 28 %Card network revenue58,142 39,269 18,873 48 %105,622 72,745 32,877 45 %Total network revenue303,037 227,626 75,411 33 %534,856 407,052 127,804 31 %Interest income (1)409,367 288,346 121,021 42 %786,431 551,025 235,406 43 %Gain on sales of loans (1)125,287 52,702 72,585 138 %188,900 86,987 101,913 117 %Servicing income28,690 22,436 6,254 28 %54,674 42,593 12,081 28 %Total revenue, net866,381 591,110 275,271 47 %1,564,861 1,087,657 477,204 44 %Operating expenses (2)Loss on loan purchase commitment70,278 53,630 16,648 31 %124,515 88,496 36,019 41 %Provision for credit losses152,980 120,880 32,100 27 %312,804 220,576 92,228 42 %Funding costs107,762 84,617 23,145 27 %211,907 158,