Affirm Q2 2021 Earnings Report
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
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