Core Insights - Affirm Holdings, Inc. is scheduled to report its Q1 fiscal 2026 results on November 6, 2025, with an expected earnings per share (EPS) of 11 cents and revenues of $885 million [1][6] - The earnings estimate has improved by 1 cent over the past 60 days, indicating a year-over-year EPS growth of 135.5% and a revenue growth of 26.7% [2][6] - For fiscal 2026, the revenue estimate is $3.99 billion, reflecting a 23.9% year-over-year increase, with the current fiscal year's EPS projected at 86 cents, a significant rise from 15 cents a year ago [3] Earnings Expectations - Affirm is predicted to beat earnings estimates due to a positive Earnings ESP of +3.53% and a Zacks Rank of 3 (Hold) [4] - The consensus estimate for merchant network revenues is $247.9 million, indicating a 34.5% increase from the previous year [7] - The Gross Merchandise Volume (GMV) is expected to grow by 36.6%, with management anticipating it to be between $10.1 billion and $10.4 billion [8] Transaction Metrics - Active consumers are projected to grow by 20.8% year-over-year, with transactions per active consumer expected to rise by 12.4% [9] - Card network revenues are estimated to improve by 38.3%, while interest income is projected at $435.9 million, a 15.6% year-over-year increase [10] - Servicing income is expected to reach nearly $37 million, reflecting a 42.3% jump from the prior year [11] Stock Performance - Affirm's stock has increased by 18.4% year-to-date, outperforming the industry growth of 14.8% and significantly surpassing the S&P 500's increase of 17.9% [12] Valuation Insights - Affirm's current valuation is stretched, trading at 5.45X forward 12-month sales, above its three-year median of 3.97X and the industry average of 5.34X, suggesting limited near-term upside potential [16][18] Strategic Developments - The company is expanding globally, entering new markets in Europe and Australia, and forming partnerships with major players like Shopify, Apple Pay, and Google [19][20] - Affirm is diversifying its offerings, including partnerships in the gaming sector and developing new payment solutions, aiming to build a comprehensive financial network beyond its core BNPL operations [20][21] - The company's loyal customer base, driven by transparent pricing and seamless integration, supports stable cash flows, although high leverage poses risks in a competitive BNPL market [21]

Core Insights - Affirm Holdings Inc is currently trading at $72.31, facing resistance at the $80 level, with a recent pullback observed at the $70 level, which aligns with a historically bullish trendline [1] Price Trends - The stock has pulled back to the 126-day trendline, remaining above it 80% of the time in the past two months. Historically, similar signals have led to a 50% chance of the stock being higher one month later, with an average gain of 12.5%, potentially pushing the stock above $81 for the first time since September [2] Options Activity - There is significant bearish sentiment surrounding the stock, as indicated by a 50-day put/call volume ratio of 1.38, ranking in the 99th annual percentile. The Schaeffer's put/call open interest ratio of 1.08 also sits in the 96th percentile, suggesting that unwinding of this sentiment could provide additional support for the shares [4] Short Interest - Short interest has decreased by 18.8% over the past two reporting periods but still represents 5% of the stock's total float. At the current trading pace, it would take short sellers nearly two days to cover these positions [5] Earnings Expectations - Affirm is set to announce earnings on November 6, with a history of mixed post-earnings performances. The stock has averaged a 14.8% earnings swing over the past two years, with analysts expecting a larger-than-usual 19% move this quarter, regardless of direction [6]

Core Insights - Affirm is enhancing its merchant and financial scale to compete with rivals like Klarna and PayPal by signing distribution deals with Worldpay and expanding its relationship with New York Life [1][8] - The company aims to integrate its payment solutions into various platforms, making it easier for consumers to choose Affirm as a payment option [2][4] Partnership Developments - Affirm has expanded its partnership with Worldpay to integrate its services into Worldpay's embedded payments option, which supports over 1,000 software-as-a-service companies that processed more than $400 billion in payments volume [3][4] - New York Life has agreed to purchase up to $750 million of Affirm's installment loans, providing off-balance-sheet funding that can support up to $1.75 billion in consumer loan volume per year [6] Market Positioning - Affirm has added 23 million users in the past 12 months, indicating strong consumer interest in its payment options, which include multiple payment methods beyond installment financing [4][8] - The company is focusing on mainstream payment solutions, aiming to be present where consumers make payment decisions [2][5] Competitive Landscape - Affirm is in a competitive environment with other BNPL fintechs like PayPal and Klarna, which are also expanding their offerings and partnerships [8][10] - PayPal has recently entered a similar BNPL investment deal, indicating a trend among fintechs to bolster their BNPL portfolios [9][10] Future Outlook - Affirm is set to report earnings soon, which may provide further insights into its growth and market strategies [8]

Group 1 - Affirm Holdings, Inc. (NASDAQ:AFRM) is highlighted as a strong investment opportunity in the buy now, pay later sector, alongside Sandisk and MP Materials, which have shown significant growth [1] - The CEO of Affirm, Max Levchin, is praised for his intelligence and leadership, with the stock being deemed a good investment choice [2] - Despite the positive outlook for Affirm, there is a suggestion that certain AI stocks may present greater upside potential and lower downside risk [2]

Core Insights - Affirm Holdings, Inc. has expanded its partnership with New York Life Insurance, which will purchase up to $750 million in installment loans through 2026, indicating strong growth potential for the company [1][2] - The partnership with New York Life builds on their existing relationship and supports Affirm's annual loan volume of $1.75 billion, reflecting a trend of insurers investing in consumer finance due to rising interest rates [2] - Affirm has also strengthened its position in the market by forming strategic partnerships with Wayfair, Fanatics, and FreshBooks, enhancing its payment solutions and expanding its reach [3][4] Company Developments - The expanded partnership with New York Life is a significant development, as they have already invested nearly $2 billion in Affirm's loan structures, showcasing confidence in Affirm's business model [2] - The integration of Affirm's payment solutions into Wayfair's checkout process highlights the growing demand for flexible payment options among consumers [3] - Affirm's commitment to transparent loans with no hidden fees or late penalties positions it favorably in the financial technology sector, appealing to both consumers and merchants [4] Market Trends - The trend of insurers like New York Life investing in consumer finance is driven by the potential for higher returns amid rising interest rates, which could benefit Affirm's growth trajectory [2] - The partnerships with major companies such as Wayfair and Fanatics indicate a broader acceptance and demand for "buy now, pay later" services in the retail sector [3]

Core Insights - Billionaire Daniel Sundheim's hedge fund, D1 Capital Partners, is capitalizing on strong market momentum, with a reported 11.8% gain for the year as of April, despite broader market challenges due to US tariffs [3][6] - Analysts at Goldman Sachs predict the S&P 500 will surpass the 6,600 level by year-end, with an expected 7% earnings-per-share growth for the index this year and next [2] - Sundheim emphasizes the opportunity to invest in high-quality businesses on non-US exchanges as the equity market rises amid the US Federal Reserve's easing cycle [7] Company Performance - D1 Capital Partners experienced a significant recovery after a 30.5% decline in 2022, achieving a 44% return in 2024, driven by strategic investments, particularly in European markets [6] - Lexeo Therapeutics (NASDAQ:LXEO) is highlighted as a stock with a 95.14% upside potential, with a recent capital raise of $135 million to strengthen its financial position ahead of clinical trials [11][12][14] - Affirm Holdings, Inc. (NASDAQ:AFRM) shows a 30% upside potential, with recent partnerships expanding its funding and payment solutions, reflecting a growing trend in consumer finance [15][16][18]

Company Overview - Upstart is a small-cap fintech company with a current market cap of approximately $4.5 billion, significantly below its all-time high by about 88% [2][3] - The company is projected to achieve its first billion-dollar revenue year in 2025, indicating strong growth momentum [1] Financial Performance - Upstart reported an origination volume of $2.8 billion, reflecting a 154% year-over-year increase [7] - Revenue reached $257 million, more than double the amount from the previous year [7] - The company achieved a 21% adjusted EBITDA margin and GAAP profitability for the first time in years [7] Market Potential - The U.S. personal loan market exceeds $100 billion annually, with Upstart's predictive methods for loan defaults proving more effective than traditional approaches [4] - Upstart's newer verticals, including auto loans and home loans, are experiencing significant growth, with auto loan originations increasing sixfold and home loan originations growing 67% sequentially [5] - The potential for home equity loans is substantial, given that U.S. homeowners currently hold $35 trillion in home equity, presenting a significant opportunity as interest rates decline [5] Competitive Landscape - Upstart is positioned to potentially surpass Affirm, a leader in the buy now, pay later (BNPL) space, which has a market cap of $23.5 billion, approximately five times that of Upstart [2][3] - Despite Affirm's strong performance and effective leadership, Upstart's growth opportunities in a challenging lending environment are encouraging [3]

Core Insights - Affirm Holdings has reported positive GAAP net income for the first time since fiscal 2019, which may mislead investors regarding its financial health [9][5] - Despite top-line growth, the company continues to experience negative Core Earnings and significant cash burn, indicating underlying financial instability [4][11] - The stock valuation implies unrealistic growth expectations, suggesting a potential decline in stock price [7][31] Financial Performance - In fiscal 4Q25, Affirm's revenue and gross merchandise volume (GMV) grew by 33% and 43% year-over-year, respectively [8] - For the full fiscal year 2025, revenue and GMV increased by 39% and 38% year-over-year [8] - Affirm reported an operating loss of -$87 million in fiscal 2025, while generating $149 million in non-operating income, leading to positive GAAP net income [12][11] Profitability Analysis - Affirm has not achieved positive operating profit or Core Earnings since fiscal 2019, raising questions about the sustainability of its reported GAAP profits [11][13] - Total operating expenses in fiscal 2025 were 103% of revenue, contributing to negative operating income [15] - The company has burned through a cumulative $5.1 billion in free cash flow (FCF) from fiscal 2020 to fiscal 2025 [17] Market Position and Competition - Affirm's stock price suggests it would need to grow GMV to nearly two-thirds of Amazon's fiscal 2024 GMV to justify its current valuation [28] - Compared to competitors like PayPal, Affirm lacks scale and competitive advantages, which impacts its profitability [21][25] - The buy now pay later (BNPL) market is highly competitive, with Affirm and Klarna struggling to generate profits compared to larger financial institutions [22][24] Valuation Concerns - Current stock price implies that Affirm's revenue would need to reach $42.8 billion by fiscal 2035, which is 13.3 times higher than fiscal 2025 revenue [27] - Alternative scenarios suggest significant downside risk, with potential stock values ranging from $28 to $45 per share based on different growth assumptions [31][33] - Affirm's economic book value is estimated at -$2 per share, indicating that equity investors may not see positive economic earnings under normal operations [36]

Core Viewpoint - Hi-View Resources Inc. has announced a non-brokered private placement to raise up to $1,000,000 through the issuance of 5,000,000 units at $0.20 per unit, with each unit consisting of one common share and half a warrant [1][2] Group 1: Private Placement Details - The private placement will consist of up to 5,000,000 units priced at $0.20 each, aiming for gross proceeds of up to $1,000,000 [1] - Each unit includes one common share and half of a transferable common share purchase warrant, with each whole warrant allowing the purchase of an additional share at $0.30 for 24 months [1] - The proceeds will be used for general corporate purposes, including settling arm's-length payables [2] Group 2: Debt Settlement - The company will issue 730,808 common shares at $0.20 per share to settle $146,161.60 of debt owed to related parties [1] Group 3: Company Overview - Hi-View Resources Inc. is a publicly listed mineral exploration company focused on gold, silver, and copper assets in the Toodoggone region of northern British Columbia [4] - The company holds over 27,791 hectares of projects, including the flagship Golden Stranger Project, and has additional properties under option and claim application [4]

Core Insights - Affirm is expanding its partnership with New York Life Insurance, indicating a trend where traditional financial institutions are increasingly engaging with fintech-driven consumer lending [1][2] - Under the new agreement, New York Life will purchase up to $750 million worth of Affirm's installment loans through 2026, which will support approximately $1.75 billion in annual loan volume for Affirm [1] - The partnership builds on a relationship initiated in 2023, where New York Life began investing in Affirm's asset-backed securities, contributing nearly $2 billion to Affirm's collateral pools to date [2] - This collaboration reflects a broader trend of insurers and private-credit investors entering consumer finance, driven by the attractiveness of these assets amid rising interest rates [2]