Company: AFRM
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001820953-25-000012
Chunk: 13

Company: Affirm Holdings, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 on cash flow hedges— — — — (614)(614)Net loss— — — (166,902)— (166,902)Balance as of December 31, 2023305,534,346 $3 $5,571,955 $(2,929,932)$(7,142)$2,634,884 

(1)The share amounts listed above combine Class A and Class B stock.

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

9

AFFIRM HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

(Unaudited) 

(in thousands)

Six Months Ended December 31,20242023Cash flows from operating activitiesNet loss$(19,862)$(338,685)Adjustments to reconcile net loss to net cash used in operating activities:Provision for losses312,804 220,576 Amortization of premiums and discounts on loans(111,297)(87,979)Gain on sales of loans(188,900)(86,987)Gain on extinguishment of debt(82,418)— Changes in fair value of assets and liabilities4,622 (4,912)Amortization of commercial agreement assets28,511 43,114 Amortization of debt issuance costs12,990 12,758 Amortization of discount on securities available for sale(26,618)(23,122)Commercial agreement warrant expense194,039 210,615 Stock-based compensation180,331 202,523 Depreciation and amortization101,614 66,643 Other(2,151)15,660 Change in operating assets and liabilities:Purchases and origination of loans held for sale(2,262,419)(2,244,895)Proceeds from the sale of loans held for sale2,262,441 2,262,184 Accounts receivable, net143,781 (116,487)Other assets(27,421)(41,669)Accounts payable9,607 31,203 Payable to third-party loan buyers(2,398)80,715 Accrued interest payable1,894 8,963 Accrued expenses and other liabilities(20,266)(36,995)Net cash provided by operating activities508,884 173,223 Cash flows from investing activitiesPurchases and origination of loans