Company: AFRM
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001820953-25-000052
Chunk: 93

Company: Affirm Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 93
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.8 million amortization of premiums and discounts on loans. The net increase in cash from changes in operating assets and liabilities was primarily driven by an increase in accounts receivable of $123.9 million, and a $17.4 million increase in payable to third-party loan owners, partially offset by a decrease in other assets of $18.0 million and a decrease in accrued expenses and other liabilities of $18.8 million.  

Net cash provided by operating activities was $381.4 million for the nine months ended March 31, 2024. Net loss of $472.6 million was adjusted for the add back of net non-cash items and other adjustments increasing operating cash flows by $826.8 million, and changing operating assets net of operating liabilities resulting in an increase in operating cash flows of $27.2 million. The net changes in cash from changes in operating assets and liabilities was primarily driven by an increase in cash proceeds generated from the sale of loans held for sale of $3.2 billion, which was offset by cash used for purchases and origination of loans held for sale of $3.1 billion, an increase to other assets of $58.2 million, an increase in accounts payable of $6.6 million, partially offset by a decrease in accounts receivable of $105.8 million, and a $44.0 million increase in payable to third-party loan owners. 

Cash Flows from Investing Activities

Net cash used in investing activities was $628.6 million for the nine months ended March 31, 2025, which consisted of outflows related to $22.7 billion of purchases and origination of loans held for investment, including originated and purchased loans of $4.4 billion and $18.3 billion, respectively, during the period, $553.6 million of purchases of securities available for sale, and $141.1 million of property, equipment and software additions. Inflows related to $13.6 billion of principal repayments of loans, $8.1 billion of proceeds from sale of loans held for investment, and $984.4 million of proceeds from maturities of securities available for sale.     

Net cash used in investing activities was $787.5 million for the nine months ended March 31, 2024, which consisted of outflows related to $15.6 billion of purchases and origination of loans held for investment, including originated and purchased loans of $3.2 billion and $12.4 billion, respectively, during