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Affirm Holdings Inc

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About AFRM

Affirm Holdings, Inc. provides a platform for digital and mobile-first commerce. The Company's platform comprises three core elements: point-of-sale payment solutions for consumers, merchant commerce solutions, and a consumer-focused app. Its point-of-sale solutions allow consumers to pay for purchases in fixed amounts without deferred interest, late fees, or penalties. It offers commerce enablement, demand generation, and customer acquisition tools. Consumers can use the app to apply for installment loans, and upon approval, they can use the Affirm Card digitally online or in-stores to complete a purchase. The Company’s platform provides consumer and merchant features. Its consumer features include checkout, consumer borrowing, virtual card, affirm app and marketplace and Affirm debit+ card. Its merchant features include affirm at Checkout, merchant dashboard, analytics, client success support, affirm app, and returns management, among others.

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What is Affirm Holdings and what does it do? 

Australia has Afterpay or Zip. Klarna hails from Sweden. Affirm is America's main contestant in the Buy Now, Pay Later (BNPL) game.

Founded in 2012 by former PayPal co-founder, Max Levchin, Affirm Holdings operates a platform for digital and mobile-first commerce in the United States and Canada. Its BNPL app allows consumers to buy goods and pay them off over varying lengths of time depending on the size of the purchase. Affirm proudly forgoes late fees on loans, and some merchant partners have interest rates as low as 0%.

One of Affirm’s competitive advantages is its algorithm, which is able to assess loan risk quickly and accurately by using over “one billion data points, including data from over 30 million loans and over seven years of repayments.”

The company also integrates merchant partners into its platform, including small businesses, large enterprises, direct-to-consumer brands and brick-and-mortar stores from a wide range of industries. 

Affirm has stated the growth of their merchant partner network is key to the company’s future success.

How does Affirm make money?

Affirm earns its revenue from two sources: consumers and merchants. The company reports revenue in one business segment.

The first source of revenue is interest charged to consumers. Affirm originates loans through its own platform, Affirm Loan Services, or purchases them from originating bank partners including Cross River Bank and Celtic Bank.

The second source is the processing fees charged to merchants when sales are made. The size of the processing fee is dependent on the arrangement between Affirm and each merchant.

As of June 2021, Affirm had 7.1 million active consumers and over 102,000 merchant partners including Michaels, Walmart (WMT), Target (TGT), Neiman Marcus, Williams Sonoma (WSM), Shopify (SHOP), Amazon (AMZN) and Peloton (PTON).

Does Affirm make a profit?

No, Affirm is currently unprofitable.

The company’s net income sank deeper into the red at negative US$120m, US$113m and US$431m during FY2019, FY2020 and FY2021, respectively.

In June 2021, Affirm reported a net deficit of US$447.2m.

Is AFRM stock a buy or sell? 

Affirm went public on 13 January 2021 at US$49 a share. The AFRM stock price almost doubled on the same day, eventually closing at US$97.24 per share. The stock remained strong for most of 2021, eventually climbing to an all-time high of US$175.65 in November 2021. However, rising inflation concerns, fears of a COVID-19 resurgence and geopolitical tensions saw AFRM share price drop 70% to an all-time low of US$26.02 in March 2022.

Despite strong revenue growth, investors have been concerned about the business’ losses. Operating expenses have been through the roof while net income sinks deeper.

However, some investors are still positive about Affirm’s future. Affirm’s most recent annual report showed active consumers had increased from 3.5 to 7.1 million between 30 June 2020 to 30 June 2021. A year-on-year increase of 97%.

Who owns AFRM stock?

As of March 2022, Affirm’s five largest shareholders are Jasmine Ventures (8.03%), Shopify (7.14%), Capital Research and Management Company (6.89%), Affirm CEO Max Levchin (5.93%) and Baillie Gifford & Co. (5.74%)

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Yes, the Stake platform allows you to buy AFRM shares and over 12,000 stocks and ETFs across the ASX and Wall St.

One share of Affirm Holdings Inc is valued at $30.07.

The ticker symbol for Affirm Holdings Inc is AFRM.

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The Affirm Holdings Inc 52-week high stock price is $52.48.

The Affirm Holdings Inc 52-week low stock price is $12.81.

As of 27/05/2024 Affirm Holdings Inc has a market cap of $9.28B.

This does not constitute financial advice. You should do your own research before making an investment decision. Past performance is not a reliable indication of future performance. No representation is made as to the timeliness, reliability, accuracy or completeness of the market data provided.

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