Company: AFRM
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001820953-25-000052
Chunk: 46

Company: Affirm Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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,750 543,421 542,048 Securitization notes receivable and certificates (2)— — 51,726 51,670 51,726 51,670 Total securities available for sale$928,965 $927,222 $266,830 $265,862 $1,195,795 $1,193,084 (1)As of March 31, 2025 and June 30, 2024, Commercial paper and US government bonds included $81.8 million and $61.5 million, respectively, classified as cash and cash equivalents within the interim condensed consolidated balance sheets.(2)Based on weighted average life of expected cash flows as of March 31, 2025 and June 30, 2024.Gross proceeds from matured or redeemed securities were $283.9 million and $990.4 million for the three and nine months ended March 31, 2025, respectively, and $465.7 million and $1,191.7 million for the three and nine months ended March 31, 2024, respectively.For available for sale securities, realized gains and losses were immaterial for the three and nine months ended March 31, 2025 and March 31, 2024. 

38

Non-marketable Equity Securities Equity investments without a readily determinable fair value held at cost were $42.3 million and $37.8 million as of March 31, 2025 and June 30, 2024, respectively, and are included in other assets within the interim condensed consolidated balance sheets.We did not record any impairment during the three months ended March 31, 2025 and 2024. We recognized an impairment of $3.0 million for the nine months ended March 31, 2025 within other income, net in the interim consolidated statements of operations and comprehensive income (loss) in connection with one of our non-marketable equity security investments. The fair value of the investment was determined utilizing a methodology based on significant unobservable inputs, including management estimates and assumptions, and thus represent Level 3 measurements. During the nine months ended March 31, 2024, we recognized an impairment of $14.1 million within other income, net in the interim consolidated statements of operations in connection with one of our non-marketable equity security investments. For the three and nine months ended March 31, 2025, we recognized an upward adjustment of