$AFRM · Affirm Holdings, Inc.
Affirm filed an 8-K (Item 2.02) with its Q1 FY2027 shareholder letter for the quarter ended September 30, 2026. Total revenue rose 35% YoY to $1.262B, GMV grew 34% to $14.4B, and GAAP net income was $164.2M (diluted EPS $0.47), up from $80.7M a year earlier. RLTC grew 36% to $617M, and adjusted operating income reached $380M.
- Total revenue rose 35% YoY to $1.262B; GMV grew 34% to $14.4B.
- GAAP net income was $164.2M, up from $80.7M a year earlier; diluted EPS $0.47.
- RLTC grew 36% to $617M; adjusted operating income reached $380M.
- Affirm Card GMV grew 117% to $3.3B; active cardholders doubled to 6.0M.
- Active consumers rose 19% to 28.7M; active merchants up 48% to 621K.
Extended-hours last trade $63.56, down 8.76% vs the $69.66 regular close, despite the earnings beat — suggesting the market is reacting to something beyond the headline numbers (e.g., valuation, guidance, or the ~9% move).
A strong beat paired with a sharp after-hours selloff signals the market is pricing in something the headline numbers don't capture.
Affirm's 12th straight quarter of >30% GMV growth and 8th consecutive GAAP-profitable quarter stand out in consumer fintech, where BNPL peers have struggled with credit normalization.
Provision for credit losses rose to $259.4M from $162.8M YoY, and funding costs increased 27bps sequentially on higher benchmark rates.