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Mar 31, 2024
Affirm Q3 2024 Earnings Report
Affirm delivered excellent results, marked by accelerating GMV growth and improved credit performance.
Key Takeaways
Affirm reported a 51% increase in revenue to $576 million and a 36% increase in GMV to $6.3 billion for the third fiscal quarter of 2024. The company's credit performance remained stable, and its funding capacity increased slightly. Adjusted operating income improved to $79 million, compared to a loss of $6 million in the same quarter last year.
GMV grew 36% year over year to $6.3 billion, accelerating for a fourth consecutive quarter.
Total revenue increased by 51% year over year to $576 million.
Active consumers increased 13% year over year to 18.1 million.
Active merchant count grew 19% year over year to 292,000.
Revenue by Segment
Forward Guidance
Affirm provided financial outlook for Fiscal Q4 2024, anticipating revenue between $585 million and $605 million and GMV between $6.75 billion and $6.95 billion. Adjusted Operating Margin is expected to be between 15 and 17 percent.
Positive Outlook
- Revenue is expected to be between $585 million and $605 million.
- GMV is projected to be between $6.75 billion and $6.95 billion.
- Adjusted Operating Margin is anticipated to be between 15 and 17 percent.
- Equity Capital Required (“ECR”) as a percentage of Total Platform Portfolio (“ECR Ratio”) is expected to remain near FQ3’24 levels.
- The substantial majority of the benefit from our pricing initiatives will be realized by the end of fiscal year 2024.
Challenges Ahead
- Revenue is expected to be between $585 million and $605 million.
- GMV is projected to be between $6.75 billion and $6.95 billion.
- Adjusted Operating Margin is anticipated to be between 15 and 17 percent.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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