Company: AFRM
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001820953-25-000052
Chunk: 22

Company: Affirm Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 Total amortized cost basis$13,717 $260 $13,977 

20

March 31, 2024 (1)Payment DeferralLoan Re-amortizationTotalNon-delinquent loans$28,880 $868 $29,748 4 – 29 calendar days past due7,178 396 7,574 30 – 59 calendar days past due3,235 179 3,414 60 – 89 calendar days past due2,171 100 2,271 90 – 119 calendar days past due2,014 91 2,105 Total amortized cost basis$43,478 $1,634 $45,112 (1)Amounts previously disclosed excluded modifications made to borrowers where the loan was less than 30 days delinquent at the time of modification

With respect to modifications during the 12 months preceding March 31, 2025 and 2024, respectively, where the borrower was experiencing financial difficulty at the time of modification, the amortized cost basis of loans which have been charged off was $10.4 million and $7.8 million, respectively. 

5.   Balance Sheet Components

Accounts Receivable, netOur accounts receivable consist primarily of amounts due from payment processors, merchant partners, affiliate network partners and servicing fees due from third-party loan owners. For each of these groups, we evaluate accounts receivable to determine management’s current estimate of expected credit losses based on historical experience and future expectations and record an allowance for credit losses. Our allowance for credit losses with respect to accounts receivable was $18.2 million and $14.9 million as of March 31, 2025 and June 30, 2024, respectively.Property, Equipment and Software, netProperty, equipment and software, net consisted of the following (in thousands):March 31, 2025June 30, 2024Internally developed software$898,459 $630,129 Leasehold improvements21,213 21,023 Computer equipment10,979 9,827 Furniture and equipment8,997 8,913 Total property, equipment and software, at cost$939,648 $669,892 Less: Accumulated depreciation and amortization(396,321)(242,206)Total property, equipment and software, net$543,327 $