Company: AFRM
Filing Date: 2025-08-28
Form Type: 10-K
Source: 0001820953-25-000080
Chunk: 2

Company: Affirm Holdings, Inc.
Filing Date: 2025-08-28
Form: 10-K
Item: Item 8
Chunk 2
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 included involving our credit specialists to evaluate the appropriateness of the models and methodologies.

•We evaluated the accuracy and completeness of the data used to estimate the allowance for credit losses.

/s/ Deloitte & Touche LLP

San Francisco, California

August 28, 2025

We have served as the Company's auditor since 2020.

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Table of Contents

AFFIRM HOLDINGS, INC.

CONSOLIDATED BALANCE SHEETS 

(in thousands, except shares and per share amounts)

June 30, 2025June 30, 2024AssetsCash and cash equivalents$1,354,455 $1,013,106 Restricted cash401,968 282,293 Securities available for sale at fair value871,425 1,131,628 Loans held for sale— 36 Loans held for investment7,025,534 5,670,056 Allowance for credit losses(396,929)(309,097)Loans held for investment, net6,628,606 5,360,959 Accounts receivable, net426,177 353,028 Property, equipment and software, net572,637 427,686 Goodwill534,156 533,439 Intangible assets12,935 13,502 Commercial agreement assets57,210 104,602 Other assets295,360 299,340 Total assets$11,154,929 $9,519,619 Liabilities and stockholders’ equityLiabilities:Accounts payable$82,820 $41,019 Payable to third-party loan owners211,700 159,643 Accrued interest payable24,465 24,327 Accrued expenses and other liabilities157,272 147,429 Convertible senior notes, net1,153,000 1,341,430 Notes issued by securitization trusts4,833,855 3,236,873 Funding debt1,622,808 1,836,909 Total liabilities8,085,919 6,787,630 Commitments and contingencies (Note 8)Stockholders’ equity:    Class A common stock, par value $0.00001 per share: 3,030,000,000 shares authorized, 284,378,565 shares issued and outstanding as of June 30, 2025; 3,030,000,000