Affirm (AFRM) investor relations material

Business performance and growth

• Achieved 39% GMV growth over the last 12 months and 30% adjusted operating income in the most recent quarter.

• Affirm Card accounted for 16% of GMV and 14% of users, with user and GMV growth more than doubling year-over-year.

• Renewed major partnerships with Amazon and Expedia, and added new partners like Intuit, Lowe's, and ServiceTitan.

• 0% APR products grew 65% year-over-year, now making up about one-third of business volume.

• International expansion continues, with Shop Pay Installments launched in the UK and new merchant wins like Virgin Media O2 and Wayfair.

Product differentiation and consumer value

• Nearly 26 million active consumers, with high engagement and repeat usage driving merchant value.

• Breadth of loan products, including monthly interest-bearing and 0% loans, allows flexible merchant programs.

• Affirm Card enables usage anywhere Visa is accepted, with significantly higher in-store usage than other products.

• Average order values on Affirm programs are often multiples higher than merchants' other channels.

• No late fees or hidden costs, supporting transparency and consumer trust.

Financial outlook and guidance

• Fiscal year guidance targets 32.5% GMV growth, RLTC just over 4% of GMV, and GAAP operating margins above 8%.

• Credit metrics remain stable, with 96% of transactions from repeat borrowers and consistent repayment trends.

• Continued margin expansion expected, supported by profitable loan products and operating leverage.

• Headcount growth has been measured at about 10% year-over-year, with AI expected to drive efficiency and product velocity.

• Guidance is revisited quarterly, reflecting current funding and credit conditions.