Company: AFRM
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050295
Chunk: 0

Company: Affirm Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
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Item 1. Financial Statements

AFFIRM HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS 

(Unaudited)

(in thousands, except shares and per share amounts)

September 30, 2025June 30, 2025AssetsCash and cash equivalents$1,428,848 $1,354,455 Restricted cash668,762 401,968 Securities available for sale at fair value812,442 871,425 Loans held for sale12 — Loans held for investment7,235,177 7,025,534 Allowance for credit losses(425,801)(396,929)Loans held for investment, net6,809,376 6,628,606 Accounts receivable, net283,726 426,177 Property, equipment and software, net613,938 572,637 Goodwill529,910 534,156 Intangible assets12,685 12,935 Commercial agreement assets49,154 57,210 Other assets269,713 295,360 Total assets$11,478,567 $11,154,929 Liabilities and stockholders’ equityLiabilities:Accounts payable$58,019 $82,820 Payable to third-party loan owners193,790 211,700 Accrued interest payable25,649 24,465 Accrued expenses and other liabilities165,830 157,272 Convertible senior notes, net1,127,668 1,153,000 Notes issued by securitization trusts4,830,819 4,833,855 Funding debt1,777,906 1,622,808 Total liabilities8,179,682 8,085,919 Commitments and contingencies (Note 7)Stockholders’ equity:Class A common stock, par value $0.00001 per share: 3,030,000,000 shares authorized, 289,324,958 shares issued and outstanding as of September 30, 2025; 3,030,000,000 shares authorized, 284,378,565 shares issued and outstanding as of June 30, 20252 2 Class B common stock, par value $0.00001 per share: 140,000,000 shares authorized, 40,723,546 shares issued and outstanding as of September 30, 202