Company: AFRM
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001820953-25-000012
Chunk: 82

Company: Affirm Holdings, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 82
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% compared to approximately 17.6 million active consumers as of December 31, 2023. The increase was primarily due to a high retention rate of existing consumers and the acquisition of new consumers through an expansion in active merchants and platform partnerships as well as continued adoption of the Affirm Card. 

Transactions per Active Consumer

We believe the value of our network is amplified with greater consumer engagement and repeat usage, highlighted by increased transactions per active consumer. Transactions per active consumer is defined as the average number of transactions that an active consumer has conducted on our platform during the 12 months prior to the measurement date. 

As of December 31, 2024, we had approximately 5.3 transactions per active consumer, an increase of 22% compared to December 31, 2023. The increase was primarily due to platform growth, a higher frequency of repeat users driven by consumer engagement, and growth of Affirm Card active consumers. As of December 31, 2024, Affirm Card represented approximately 10% of the total number of transactions compared to approximately 4% as of December 31, 2023.

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Results of Operations 

The following tables set forth selected interim condensed consolidated statements of operations and comprehensive income (loss) data for each of the periods presented:

Three Months Ended December 31,Six Months Ended December 31,20242023$%20242023$%(in thousands, except percentages)RevenueMerchant network revenue$244,895 $188,357 $56,538 30 %$429,234 $334,307 $94,927 28 %Card network revenue58,142 39,269 18,873 48 %105,622 72,745 32,877 45 %Total network revenue303,037 227,626 75,411 33 %534,856 407,052 127,804 31 %Interest income (1)409,367 288,346 121,021 42 %786,431 551,025 235,406 43 %Gain on sales of loans (1)125,287 52,702 72,585 138 %188,900 86,987 101,913 117 %Servicing income28,690 22,436 6,254 28 %54,674 42,593 12,081 28 %Total revenue, net866,