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Dec 31, 2020
Affirm Q2 2021 Earnings Report
Affirm's Q2 2021 financial results showcased substantial growth in GMV, active consumers, and revenue, driven by its mission to provide honest financial products.
Key Takeaways
Affirm reported a 57% increase in revenue, reaching $204.0 million, and a 55% increase in gross merchandise volume (GMV) to $2.1 billion. The company's active consumers grew by 52% to 4.5 million, and transactions per active consumer increased by 7% to 2.2. Despite the growth, the company reported a net loss of $31.6 million.
Gross Merchandise Volume (GMV) increased by 55% year-over-year to $2.1 billion.
Active consumers grew by 52% year-over-year, reaching 4.5 million.
Transactions per active consumer increased by 7% year-over-year, reaching 2.2.
Total revenue increased by 57% year-over-year to $204.0 million.
Affirm
Affirm
Affirm Revenue by Segment
Revenue by Segment
Merchant Network Revenue
CapyFin.comCard Network Revenue
CapyFin.comInterest Income Revenue
CapyFin.comLoan Sales Gain Revenue
CapyFin.comServicing Income Revenue
CapyFin.com Forward Guidance
Affirm provided guidance for the third quarter and full year fiscal 2021.
Positive Outlook
- GMV is expected to be between $1.80 to $1.85 billion for Q3 2021 and $7.25 to $7.35 billion for the full year 2021.
- Revenue is expected to be between $185 to $195 million for Q3 2021 and $760 to $780 million for the full year 2021.
- Revenue Less Transaction Costs is expected to be between $60 to $65 million for Q3 2021 and $260 to $270 million for the full year 2021.
- Weighted Average Shares Outstanding are expected to be 226 million for Q3 2021 and 155 million for the full year 2021.
Challenges Ahead
- Transaction Costs are expected to be between $125 to $130 million for Q3 2021 and $500 to $510 million for the full year 2021.
- Adjusted Operating Loss is expected to be between $(47.5) to $(52.5) million for Q3 2021 and $(120) to $(130) million for the full year 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income