Affirm Holdings, Inc. (NASDAQ:AFRM) Q2 2023 Earnings Conference Call February 8, 2023 5:00 PM ET Company Participants Zane Keller – Director, Investor Relations Max Levchin – Founder and Chief Executive Officer Michael Linford – Chief Financial Officer Conference Call Participants Ramsey El-Assal – Barclays Rob Wildhack – Autonomous Research Dan Perlin – RBC Capital Markets Jason Kupferberg – Bank of America Rayna Kumar - UBS Andrew Jeffrey – Truist Securities Bryan Keane – Deutsche Bank Moshe Orenbuch – Cr ...

Financial Performance - Total revenue for the three and six months ended December 31, 2022, was approximately $399.6 million and $761.2 million, respectively, compared to $361.0 million and $630.4 million for the same periods in 2021, representing increases of 10.5% and 20.7%[212] - The company incurred net losses of $322.4 million and $573.7 million for the three and six months ended December 31, 2022, compared to losses of $159.7 million and $466.4 million for the same periods in 2021[212] - Total Revenue increased by $38.5 million, or 11%, for the three months ended December 31, 2022, and by $130.8 million, or 21%, for the six months ended December 31, 2022, compared to the same periods in 2021[237] - Operating Loss for the three months ended December 31, 2022, was $359.5 million, an increase of 83% compared to the same period in 2021[234] - Net Loss for the six months ended December 31, 2022, was $573.7 million, compared to a net loss of $466.4 million in the same period of 2021, representing a 23% increase[234] Gross Merchandise Volume (GMV) - Gross Merchandise Volume (GMV) for the three months ended December 31, 2022, was $5.7 billion, a 27% increase from $4.5 billion in the same period of 2021[224] - For the six months ended December 31, 2022, GMV was $10.0 billion, representing a 40% increase compared to $7.2 billion for the same period in 2021[225] - GMV on the platform increased by $1.2 billion and $2.9 billion for the three and six months ended December 31, 2022, reaching $5.7 billion and $10.0 billion, respectively[237] Consumer and Merchant Metrics - Active consumers reached 15.6 million as of December 31, 2022, a 39% increase from 11.2 million a year earlier[226] - Transactions per active consumer increased to approximately 3.5 for the twelve months ended December 31, 2022, up 38% from 2.5 in the prior year[228] - Active merchant base grew from 168,030 as of December 31, 2021, to 243,371 as of December 31, 2022, while active consumers increased from 11.2 million to 15.6 million[237] Operating Expenses and Losses - Total Operating Expenses increased by $201.9 million, or 36%, for the three months ended December 31, 2022, and by $415.5 million, or 42%, for the six months ended December 31, 2022[234] - The percentage of long-term 0% APR loans decreased from 13% of total GMV in the prior year to 4% and 5% for the three and six months ended December 31, 2022, respectively[241] - Average Order Value (AOV) decreased to $307 and $317 for the three and six months ended December 31, 2022, compared to $365 and $379 in the same periods of 2021[241] Loan Originations and Funding - The company originated approximately $261.3 million, or 5%, of loans in Canada for the three months ended December 31, 2022, compared to $293.4 million, or 7%, for the same period in 2021[220] - Directly originated loans increased by 4.6% to $1.1 billion and 25.9% to $1.9 billion for the three and six months ended December 31, 2022, respectively, compared to the same periods in 2021[242] - The company has drawn an aggregate of $1.9 billion on its warehouse credit facilities as of December 31, 2022, with a total borrowing capacity of $3.4 billion[272] Cash and Liquidity - As of December 31, 2022, the company had $2.4 billion in cash and cash equivalents and available for sale securities, with $1.6 billion in remaining funding capacity across primary funding channels[267] - The company had $205.0 million in borrowing capacity available under its revolving credit facility as of December 31, 2022[267] - The company recorded a net loss of $573.7 million for the six months ended December 31, 2022, with a positive adjustment for non-cash items of $521.2 million[281] Regulatory and Compliance Risks - The company’s operations are subject to extensive regulatory oversight, which may change and impact business operations[327] - The company is subject to regulatory scrutiny from the CFPB, which may require compliance efforts and could lead to significant expenses and management focus[329] - Investigations by the CFPB or state attorneys general could result in substantial costs and divert management resources[330] - Non-compliance with legal and regulatory requirements may result in audits, investigations, and potential sanctions, adversely impacting the company's reputation and financial condition[334] Strategic Initiatives and Market Position - The company expects competition in the pay-over-time industry to intensify, which may affect its market position and pricing strategies[315] - The company has begun diversifying its loan origination sources by engaging new bank partners[321] - The company has implemented cost-saving measures, including workforce reductions, to align operations with strategic priorities[326]

Affirm Holdings, Inc. (NASDAQ:AFRM) Credit Suisse 26th Annual Technology Conference November 29, 2022 5:05 PM ET Company Participants Michael Linford - CFO Conference Call Participants Tim Chiodo - Crédit Suisse Moshe Orenbuch - Credit Suisse Tim Chiodo All right. Great. Welcome, everyone, to the afternoon session here of the 26th Annual Credit Suisse Technology Conference. We've got a great packed room here, and we're very happy to have with us today Michael Linford, the CFO of Affirm. My name is Tim Chiod ...

Affirm Holdings, Inc. (NASDAQ:AFRM) Q1 2023 Results Conference Call November 8, 2022 5:00 PM ET Company Participants Zane Keller - Director of Investor Relations Max Levchin - Founder and Chief Executive Officer Michael Linford - Chief Financial Officer Conference Call Participants James Faucette - Morgan Stanley Moshe Orenbuch - Credit Suisse Ramsey El-Assal - Barclays Mike Ng - Goldman Sachs Reggie Smith - JPMorgan Chris Brendler - D.A. Davidson Kevin Barker - Piper Sandler Bryan Keane - Deutsche Bank Mih ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 001-39888 Affirm Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 84-2224323 (St ...

Affirm Holdings, Inc. (NASDAQ:AFRM) Goldman Sachs Communacopia + Technology Conference 2022 September 13, 2022 7:30 PM ET Company Participants Max Levchin - Founder & CEO Michael Linford - CFO Conference Call Participants Michael Ng - Goldman Sachs Michael Ng Great. Well, thanks everybody. Welcome to the Affirm fireside chat at the Goldman Sachs Communacopia + Technology Conference. I have the privilege of introducing Max Levchin, Founder & CEO of Affirm and Michael Linford, CFO of Affirm, which is leading ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock, par value $0.00001 per share AFRM The Nasdaq Global Select Market FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ...

Affirm Holdings, Inc. (NASDAQ:AFRM) Q4 2022 Earnings Conference Call August 25, 2022 5:00 PM ET Company Participants Rob O’Hare – Senior Vice President-Finance Max Levchin – Founder and Chief Executive Officer Michael Linford – Chief Financial Officer Conference Call Participants Ramsey El-Assal – Barclays Dan Perlin – RBC Capital Markets James Faucette – Morgan Stanley Jason Kupferberg – Bank of America Moshe Orenbuch – Credit Suisse Rob Wildhack – Autonomous Reggie Smith – JPMorgan Michael Ng – Goldman Sa ...