Company: AFRM
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050295
Chunk: 6

Company: Affirm Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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The accompanying notes are an integral part of these interim condensed consolidated financial statements.

9

AFFIRM HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, CONT.

(Unaudited) 

(in thousands)

Three Months Ended September 30,20252024Reconciliation to amounts on consolidated balance sheets (as of period end)Cash and cash equivalents$1,428,848 $1,046,160 Restricted cash668,762 338,462 Total cash, cash equivalents and restricted cash$2,097,610 $1,384,622 

Three Months Ended September 30,20252024Supplemental disclosures of cash flow informationCash payments for interest expense$103,252 $99,506 Cash paid for operating leases4,253 4,159 Cash paid for income taxes1,749 454 Supplemental disclosures of non-cash investing and financing activitiesStock-based compensation included in capitalized internal-use software52,885 49,478 

The accompanying notes are an integral part of these interim condensed consolidated financial statements.

10

1.   Business Description

Affirm Holdings, Inc. (“Affirm,” the “Company,” “we,” “us,” or “our”), headquartered in San Francisco, California, provides consumers with a simpler, more transparent, and flexible alternative to traditional payment options. Our mission is to deliver honest financial products that improve lives. Through our next-generation commerce platform, agreements with originating banks, and capital markets partners, we enable consumers to confidently pay for a purchase over time. When a consumer applies for a loan through our platform, the loan is underwritten using our proprietary risk model, and once approved, the consumer selects their preferred repayment option. Loans are directly originated or funded and issued by our originating bank partners.Merchants partner with us to transform the consumer shopping experience and to acquire and convert consumers more effectively through our frictionless point-of-sale payment solutions. Consumers get the flexibility to buy now and make simple regular payments for their purchases and merchants see increased average order value, repeat purchase rates, and an overall more satisfied consumer base. Unlike legacy payment options and our competitors’ product offerings, which charge deferred or compounding interest and unexpected costs, we disclose up-front to consumers exactly what they will owe — no hidden fees, no deferred interest, no penalties.On June 26, 2025, the Company filed a certificate of conversion with the Secretary of State of the State of Delaware and