Affirm Holdings, Inc. Stock Price, News & Analysis

Affirm Holdings (AFRM) reported strong Q3 FY2022 results, exceeding financial projections. Active merchants surged from 12,000 to 207,000, and active consumers grew by 137% YoY to 12.7 million. Gross Merchandise Volume (GMV) rose 73% to $3.9 billion, with total revenue climbing 54% to $354.8 million. Despite an operating loss of $226.6 million, the company aims for sustained adjusted operating income profitability by July 2023. Affirm also announced partnerships with Shopify and Stripe to enhance payment solutions and recently completed a $500 million asset-backed securitization.

Affirm Holdings (NASDAQ: AFRM) will participate in three upcoming investor conferences. On May 17, 2022, CFO Michael Linford will join a fireside chat at the Barclays Virtual Emerging Payments and FinTech Forum at 3:20 PM ET. CEO Max Levchin will speak on May 25, 2022, at the JP Morgan 50th Annual Global TMC Conference in Boston at 8:40 AM ET. Lastly, Linford will attend the BofA Global Technology Conference in San Francisco on June 9, 2022, at 11:00 AM PT. Live webcasts of these discussions will be available on the company’s investor relations website.

Affirm has partnered with Fiserv, a global leader in payments technology, to integrate Affirm's services into Fiserv's Carat℠ operating system. This collaboration allows Fiserv's enterprise merchant clients to offer Affirm's Adaptive Checkout™, enabling consumers to select biweekly or monthly payment options at checkout. This move aims to address the increasing demand for buy now, pay later options. Notably, merchants using Affirm have reported up to an 85% increase in average order values. The rollout is set for later this year.

Fiserv has partnered with Affirm, integrating the Buy Now Pay Later (BNPL) option into its Carat system. This collaboration simplifies the adoption of BNPL for businesses of various sizes, allowing them to choose from multiple payment options effectively. Currently, Fiserv offers BNPL through Bread, Synchrony, and Zip, and the Affirm integration will enhance customer payment flexibility. Approximately half of U.S. consumers prefer merchants that provide pay-over-time options, making this integration a strategic move for attracting and retaining customers.

Affirm's Consumer Spending Report reveals a surge in wedding attendance for 2022, with the average American invited to four weddings. Notably, 28% are planning their own weddings, marking a significant comeback. Sequel weddings are trending, with 35% of invitees expected to attend one. Financial strains are evident, as 63% of guests report feeling stressed about costs, leading 28% to consider Affirm's pay-over-time solutions. Consumers may spend up to $12,000 on weddings this year, highlighting a need for budgeting assistance.

Affirm's latest Consumer Spend Report reveals 62% of Americans have more life goals for 2022, despite inflation concerns affecting 66%. Key findings show 44% plan domestic travel and 39% are considering international trips, with 80% willing to splurge on bucket-list vacations. Home upgrades also rank high, with over a third investing an average of $4,000. Approximately 80% of respondents prefer flexible pay-over-time options, reflecting a 30% increase in travel spending using Affirm. The survey, conducted in March 2022, included 2,000 U.S. consumers.

Affirm Holdings, Inc. (NASDAQ: AFRM) will host a conference call and webcast to discuss its third quarter fiscal year 2022 financial results on May 12, 2022, at 5:00pm ET. The call will be led by Max Levchin, CEO, and Michael Linford, CFO. Investors can access the live webcast via the company's investor relations website, where a replay will also be available after the call. A press release detailing the financial results will be issued the same day, highlighting Affirm's commitment to delivering transparent financial products that empower consumers and aid business growth.

New research from Affirm indicates that inflation is causing significant financial stress among consumers, particularly Millennials and Gen Z. The study reveals that 73% of younger Americans are concerned about rising costs affecting their ability to purchase desired items. Key findings include a shift in spending priorities, with 38% prioritizing home purchases while deprioritizing dining out and entertainment. Notably, 23% of U.S. consumers may utilize 'buy now, pay later' solutions like Affirm due to these financial pressures. The research demonstrates that young consumers are adapting their spending habits in response to inflation.

Affirm and Poshmark have extended their partnership for two years, enhancing payment options for over 80 million users. Customers can now opt for monthly payments or four interest-free biweekly payments on purchases over $50. This expansion follows Affirm’s Consumer Spend Report, indicating strong consumer interest in pay-over-time solutions. With over half of Poshmark's inventory eligible for Affirm's services, both companies expect increased average order values and higher order volumes, bolstering growth.