Company: AFRM
Filing Date: 2025-08-28
Form Type: 10-K
Source: 0001820953-25-000080
Chunk: 116

Company: Affirm Holdings, Inc.
Filing Date: 2025-08-28
Form: 10-K
Item: Item 7
Chunk 116
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, for consumers, our app unlocks the full suite of Affirm products for a delightful end-to-end consumer experience. Consumers can use our app to apply for installment loans, and upon approval, they can use the Affirm Card digitally online or in-stores to complete a purchase. Additionally, consumers can manage the pre and post purchase split of Affirm Card transactions into a loan, manage payments, open a high-yield savings account, and access a personalized marketplace.

Our Company is predicated on the principles of simplicity, transparency, and putting people first. By adhering to these principles, we have built enduring, trust-based relationships with consumers and merchants that we believe will set us up for long-term, sustainable success. We believe our innovative approach uniquely positions us to define the future of commerce and payments.

Technology and data are at the core of everything we do. Our expertise in sourcing, aggregating, and analyzing data has been what we believe to be the key competitive advantage of our platform since our founding. We believe our proprietary technology platform and data give us a unique advantage in pricing risk. We use data to inform our risk scoring in order to generate value for our consumers, merchants, and capital partners. We also prioritize building our own technology and investing in product and engineering talent as we believe these are enduring competitive advantages that are difficult to replicate. Our solutions use the latest in machine learning, artificial intelligence, cloud-based technologies, and other modern tools to create differentiated and scalable products.

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Table of Contents

Year ended June 30,2025 vs 20242024 vs 2023202520242023$%$%(in thousands, except percentages)Total revenue, net$3,224,412 $2,322,999 $1,587,985 $901,413 39 %$735,014 46 %Total operating expenses3,311,685 2,938,846 2,788,847 372,839 13 %149,999 5 %Operating loss$(87,273)$(615,847)$(1,200,862)$528,574 86 %$585,015 49 %Other income, net148,737 100,320 211,617 48,417 48 %(111,297)(53)%Income (loss) before income taxes$61,464 $(515,527)$(989,245)$576,991 112 %$473,718 (48)%Income tax