Affirm (AFRM) Fireside Chat summary

Introduction and agenda

• The session opened with reminders about forward-looking statements and encouraged investor participation via pre-submitted questions.

• The agenda focused on recent developments, notably the new Apple Pay partnership, and broader business updates.

Current industry trends

• Wallet integrations, especially with major players like Apple, are expanding product distribution and increasing addressable market size.

• The buy now, pay later (BNPL) sector is experiencing steady, consistent adoption, with consumer demand and awareness growing.

• Competitive intensity in BNPL has normalized, with traditional financial institutions now paying more attention to the space.

Innovation and future outlook

• The Apple Pay partnership is expected to roll out later this year, with a measured approach to ensure quality and risk management; material financial impact is expected in the long term, not fiscal 2025.

• Expansion into the U.K. is underway, with initial focus on building local partnerships and product fit; meaningful scale is expected over time.

• The Affirm Card is scaling well, with ongoing product improvements and experiments in loyalty and rewards, aiming to enhance user experience and retention.

• The company is preparing its capital platform for significant future growth, targeting $50 billion GMV, and remains disciplined in capital strategy.