Company: AFRM
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001820953-25-000012
Chunk: 141

Company: Affirm Holdings, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 141
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548 53,359 34 %Processing and servicing115,960 90,203 25,757 29 %211,106 165,874 45,232 27 %Technology and data analytics148,213 119,833 28,380 24 %282,503 252,798 29,705 12 %Sales and marketing136,038 161,265 (25,227)(16)%281,271 308,131 (26,860)(9)%General and administrative139,412 132,777 6,635 5 %277,894 273,111 4,783 2 %Restructuring and other60 56 4 7 %(195)1,721 (1,916)(111)%Total operating expenses870,703 763,261 107,442 14 %1,701,805 1,469,255 232,550 16 %Operating loss$(4,322)$(172,151)$167,829 (97)%$(136,944)$(381,598)$244,654 (64)%Other income, net87,181 4,549 82,632 1816 %121,483 43,256 78,227 181 %Income (loss) before income taxes$82,859 $(167,602)$250,461 (149)%$(15,461)$(338,342)$322,881 (95)%Income tax expense (benefit)2,499 (700)3,199 (457)%4,401 343 4,058 1183 %Net income (loss)$80,360 $(166,902)$247,262 (148)%$(19,862)$(338,685)$318,823 (94)%

(1)Upon purchase of a loan from our originating bank partners at a price above the fair market value of the loan or upon the origination of a loan with a par value in excess of the fair market value of the loan, a discount is included in the amortized cost basis of the loan. For loans held for investment, this discount is amortized over the life of the loan into interest income. When a loan is sold to a third-party loan buyer or off-balance sheet securitization trust, the unamortized discount is released in full at the time of sale and