Affirm Holdings Inc. has reported impressive growth figures, with a 35% increase in gross merchandise volume (GMV) to $7.6 billion, surpassing analyst expectations. The company's revenue for the fiscal first quarter reached $698 million, reflecting a 41% growth compared to the previous year, also exceeding forecasts. Notably, Affirm is experiencing a shift towards interest-bearing products, moving away from its traditional 0% APR offerings. This change is significant as it indicates a strategic pivot in their product mix. Despite these positive indicators, the company's stock fell over 3% in after-hours trading, attributed to concerns over rising provisions and funding costs. Affirm reported a net loss of $100 million, an improvement from the previous year's loss, and aims for revenue between $770 million and $810 million in the upcoming quarter. The company anticipates a strong holiday season, although it acknowledges seasonal increases in delinquencies.
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