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

Company: Affirm Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 judgments, estimates and inherent uncertainties, and cannot be predicted with certainty.

8.   Debt

Debt outstanding as of September 30, 2025 includes amounts classified within our interim condensed consolidated balance sheets as funding debt, notes issued by securitization trusts, and convertible senior notes. Secured debt includes borrowings from our warehouse facilities, variable funding notes, notes issued by securitization trusts and sale and repurchase agreements. Unsecured debt includes outstanding convertible senior notes and any borrowings on our unsecured revolving credit facility. The following table summarizes the components and terms of our secured and unsecured debt as of September 30, 2025 (in thousands): Interest Rate (1)Unused Commitment FeesMaturity by Fiscal YearBorrowing Capacity (2)Debt Outstanding (3)Debt Outstanding net of unamortized premiums and discountSecured debtFunding debtUS warehouse facilities5.91%0.20% - 0.50%2027 - 20325,150,000 1,249,622 1,235,609 International warehouse facilities (4)4.89%0.30% - 0.45%2028 - 2030644,466 460,063 458,965 Variable funding notes5.78%0.30%20321,350,000 65,201 62,040 Sales and repurchase agreements6.47%—2028 - 2029—21,292 21,292 Notes issued by securitization trusts5.18%—2029 - 20354,850,000 4,850,000 4,830,819 $11,994,466 $6,646,177 $6,608,725 Unsecured debtConvertible senior notes:2026 Notes——2027—222,309 221,707 2029 Notes0.75%—2030—920,000 905,961 Revolving credit facility—0.20%2027330,000 — — $330,000 $1,142,309 $1,127,668 Total$12,324,466 $7,788,486 $7,736,393 (1)The stated interest rate reflects the fixed or variable interest rate in effect for each of our contractual arrangements as of September 30, 2025, weighted by the outstanding principal balance as of