Company: AFRM
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001820953-25-000012
Chunk: 28

Company: Affirm Holdings, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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�89 calendar days past due1,972 125 2,097 90 – 119 calendar days past due1,639 112 1,751 Total amortized cost basis$29,814 $1,150 $30,964 (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 December 31, 2024 and 2023, 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 $17.1 million and $1.8 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 $17.8 million and $14.9 million as of December 31, 2024 and June 30, 2024, respectively.Property, Equipment and Software, netProperty, equipment and software, net consisted of the following (in thousands):December 31, 2024June 30, 2024Internally developed software$804,651 $630,129 Leasehold improvements21,085 21,023 Computer equipment10,373 9,827 Furniture and equipment9,001 8,913 Total property, equipment and software, at cost$845,111 $669,892 Less: Accumulated depreciation and amortization(338,777)(242,206)Total property, equipment and software, net$506,334 $427,686 Depreciation and amortization expense on property, equipment and software was $54.3 million and $100.4 million for the three and six months ended December 31, 2024, respectively, and $36.5 million and $62.5 million for the three and six months ended December 31, 2023, respectively.No impairment losses related to property, equipment and software were recorded during the three and six months ended December 31, 2024 and 2023.

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