Company: AFRM
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001820953-25-000052
Chunk: 0

Company: Affirm Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
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Item 1. Financial Statements

AFFIRM HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS 

(Unaudited)

(in thousands, except shares and per share amounts)

March 31, 2025June 30, 2024AssetsCash and cash equivalents$1,351,148 $1,013,106 Restricted cash384,811 282,293 Securities available for sale at fair value780,170 1,131,628 Loans held for sale1 36 Loans held for investment6,630,446 5,670,056 Allowance for credit losses(374,987)(309,097)Loans held for investment, net6,255,459 5,360,959 Accounts receivable, net220,279 353,028 Property, equipment and software, net543,327 427,686 Goodwill522,346 533,439 Intangible assets12,416 13,502 Commercial agreement assets65,178 104,602 Other assets301,052 299,340 Total assets$10,436,187 $9,519,619 Liabilities and stockholders’ equityLiabilities:Accounts payable$41,057 $41,019 Payable to third-party loan owners176,996 159,643 Accrued interest payable23,944 24,327 Accrued expenses and other liabilities173,629 147,429 Convertible senior notes, net1,152,019 1,341,430 Notes issued by securitization trusts4,084,934 3,236,873 Funding debt1,908,693 1,836,909 Total liabilities7,561,272 6,787,630 Commitments and contingencies (Note 7)Stockholders’ equity:Class A common stock, par value $0.00001 per share: 3,030,000,000 shares authorized, 281,746,395 shares issued and outstanding as of March 31, 2025; 3,030,000,000 shares authorized, 267,305,456 shares issued and outstanding as of June 30, 20242 2 Class B common stock, par value $0.00001 per share: 140,000,000 shares authorized, 40,774,346 shares issued and outstanding as of March 31,