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Dec 31, 2025
Affirm Q2 2026 Earnings Report
Delivered strong profitability with solid GMV growth driven by Affirm Card and direct-to-consumer momentum.
Key Takeaways
Affirm reported Q2 2026 revenue of $1123000000 and net income of $129600000, reflecting continued GMV growth, improved operating leverage, and strong performance from Affirm Card and 0% APR offerings.
Returned to solid profitability with positive net income for the quarter.
GMV growth was driven by Affirm Card and direct-to-consumer channels.
Revenue growth reflected higher interest income and network monetization.
Operating leverage improved as costs grew slower than revenue.
Forward Guidance
Management guided to continued profitable growth driven by Affirm Card expansion, disciplined underwriting, and sustained consumer demand.
Positive Outlook
- Continued growth in Affirm Card adoption.
- Strong consumer demand for flexible payment options.
- Improving operating leverage and margins.
- Diversified revenue streams across networks.
- Disciplined credit and risk management.
Challenges Ahead
- Macroeconomic uncertainty impacting consumer spending.
- Sensitivity to interest rate changes.
- Competitive pressure in BNPL and payments.
- Regulatory scrutiny of consumer finance products.
- Dependence on capital markets for funding efficiency.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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