Company: AFRM
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050295
Chunk: 36

Company: Affirm Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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ization notes receivable and certificates in unconsolidated securitization trusts [1]$54,263 $55,150 $75,469 $76,943 Residual interests in structured transactions [1]4,017 16,199 2,284 15,644 Risk sharing assets [2]41,565 65,054 43,179 66,590 Risk sharing liabilities [3]— 20,751 (90)24,467 Total unconsolidated VIEs$99,846 $157,154 $120,842 $183,644 (1)Presented within Securities available for sale at fair value(2)Presented within Other assets(3)Presented within Accrued expenses and other liabilities(4)Maximum exposure to losses represents our exposure through our continuing involvement as servicer, through our retained interests, and legal or contractual obligation.

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10.   Investments

Cash and Cash Equivalents and Securities Available for SaleCash and cash equivalents and securities available for sale, at fair value, consist of the following as of each date presented within the interim condensed consolidated balance sheets (in thousands):September 30, 2025June 30, 2025Cash and cash equivalents:Money market funds$140,681 $70,920 Agency bonds— 3,493 Commercial paper— 12,564 Government bonds - US— 4,995 Securities available for sale:Certificates of deposit48,869 39,008 Corporate bonds261,399 264,199 Commercial paper121,998 126,761 Agency bonds4,998 7,854 Municipal bonds9,054 6,076 Government bondsNon-US2,203 5,340 US (1)300,622 344,434 Securitization notes receivable and certificates (2)54,263 75,469 Residual interests in structured transactions4,017 2,284 Other5,019 — Total marketable securities:$953,123 $963,397 (1)As of September 30, 2025 and June 30, 2025, these securities include $74.6 million and $75.4 million, respectively, pledged as collateral in connection with our standby letters of credit for office leases and certain commercial agreements.(2)These securities include $23.