Mind Affirm’s GAAP… It Only Misleads

Affirm Holdings Inc. signage on a laptop computer arranged in Little Falls, New Jersey, U.S., on Wednesday, Dec. 9, 2020. Affirm Holdings Inc., which lets online shoppers pay for purchases such as Peloton bikes in installments, plans to go public this month. Photographer: Gabby Jones/Bloomberg© 2020 Bloomberg Finance LPMany companies rely on misleading “adjusted” metrics to trick investors into thinking their business is stronger than it is in reality. The law allows companies to invent entirely new metrics ...