Company: AFRM
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001820953-25-000012
Chunk: 9

Company: Affirm Holdings, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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139,135 5,070,022 Total net assets of consolidated VIEs$428,007 $308,113 

The accompanying notes are an integral part of these interim condensed consolidated financial statements.

6

Table of Contents

AFFIRM HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

 (Unaudited)

(in thousands, except share and per share amounts)

Three Months Ended December 31,Six Months Ended December 31,2024202320242023RevenueMerchant network revenue$244,895 $188,357 $429,234 $334,307 Card network revenue58,142 39,269 105,622 72,745 Total network revenue303,037 227,626 534,856 407,052 Interest income409,367 288,346 786,431 551,025 Gain on sales of loans125,287 52,702 188,900 86,987 Servicing income28,690 22,436 54,674 42,593 Total revenue, net$866,381 $591,110 $1,564,861 $1,087,657 Operating expensesLoss on loan purchase commitment$70,278 $53,630 $124,515 $88,496 Provision for credit losses152,980 120,880 312,804 220,576 Funding costs107,762 84,617 211,907 158,548 Processing and servicing115,960 90,203 211,106 165,874 Technology and data analytics148,213 119,833 282,503 252,798 Sales and marketing136,038 161,265 281,271 308,131 General and administrative139,412 132,777 277,894 273,111 Restructuring and other60 56 (195)1,721 Total operating expenses$870,703 $763,261 $1,701,805 $1,469,255 Operating loss$(4,322)$(172,151)$(136,944)$(381,598)Other income, net87,181 4,549 121,483 43,256 Income (loss) before income taxes$82,859 $(167,602)$(15,461