Company: AFRM
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001820953-25-000052
Chunk: 19

Company: Affirm Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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,445)(1,312)(214)(161)(409,152)Current period recoveries2,089 15,593 9,901 4,011 833 268 32,695 Current period net charge-offs(90,270)(280,068)(9,544)2,699 619 107 (376,457)

18

Loan receivables are defined as past due if either the principal or interest have not been received within four calendars days of when they are due in accordance with the agreed upon contractual terms. The following table presents an aging analysis of the amortized cost basis excluding accrued interest receivable of loans held for investment and loans held for sale by delinquency status (in thousands):March 31, 2025June 30, 2024Non-delinquent loans$6,234,157 $5,331,462 4 – 29 calendar days past due153,587 134,434 30 – 59 calendar days past due66,927 55,021 60 – 89 calendar days past due57,469 47,764 90 – 119 calendar days past due(1)49,310 38,615 Total amortized cost basis$6,561,450 $5,607,296 (1)Includes $49.1 million and $38.6 million of loan receivables as of March 31, 2025 and June 30, 2024, respectively, that are 90 days or more past due, but are not on non-accrual status. We maintain an allowance for credit losses at a level sufficient to absorb expected credit losses based on evaluating known and inherent risks in our loan portfolio. The allowance for credit losses reflects our estimate of expected lifetime credit losses, which consider the remaining contractual term, historical credit losses, consumer payment trends, estimated recoveries, and future payment expectations as of each balance sheet date. Adjustments to the allowance for changes in our estimate of lifetime expected credit losses are recognized in earnings through the provision for credit losses presented on our interim condensed consolidated statements of operations and comprehensive income (loss). When available information confirms that specific loans or portions thereof are uncollectible, identified amounts are charged off against the allowance for credit losses. Loans are charged off in accordance with our charge-off policy, as the contractual principal becomes 120 days past due. Subsequent recoveries of the