Press release
Affirm Reports Fiscal Year 2022 First Quarter Results
Exceeds First Quarter Financial Outlook and Raises Outlook for Gross Merchandise Volume (GMV), Revenue, and Revenue Less Transaction Costs for Fiscal Year
About this update from Affirm Holdings, Inc.
[{"type":"text","content":"\nExceeds First Quarter Financial Outlook and Raises Outlook for Gross Merchandise Volume (GMV), Revenue, and Revenue Less Transaction Costs for Fiscal Year 2022 \n\nExpands Network by Increasing Active Merchants from 6,500 to 102,000 and Active Consumers by 124% to 8.7 million Year Over Year \n\nGrows Year-Over-Year GMV by 84%, or 138% Excluding Largest Merchant \n\nExpands Amazon Relationship to All Eligible U.S. Purchases; Affirm to be Embedded as Payment Option in Amazon Pay's Digital Wallet in the U.S.\n\n SAN FRANCISCO--(BUSINESS WIRE)-- Affirm Holdings, Inc. (NASDAQ: AFRM) (“Affirm” or the \"Company”), the payment network that empowers consumers and helps merchants drive growth, today reported financial results for its fiscal 2022 first quarter ended September 30, 2021.\n\n“Our strong quarter once again demonstrates the continued momentum across Affirm as more people embrace the transparency, flexibility and value our solutions provide,” said Max Levchin, Founder and CEO of Affirm. “Our unrivaled technology, industry-leading talent and the investments we are making are delivering results. Over the last year, we expanded our network by increasing the number of active merchants on our platform to over 100,000 and more than doubling the number of active consumers. These deep connections and our partnerships with merchants drove growth in GMV, frequency of engagement, and revenue.”\n\nLevchin continued, “We are pleased with our performance and proud of the contributions of our nearly 2,000-strong Affirm team. At the same time, there is a lot more for us to build to achieve our objectives, and we are even more excited about the opportunities ahead. We remain focused on continuing to delight and grow both sides of our network by giving people even more reasons to choose Affirm with more products and in more markets.”\n\nFirst Quarter of Fiscal Year 2022 Operating Highlights:\n\nAll comparisons are made versus the same period in fiscal year 2021 unless otherwise stated.\n\n\nGross merchandise volume (\"GMV\") for the first quarter of fiscal 2022 was $2.7 billion, an increase of 84%, or 138% excluding the Company's largest merchant\n\n\nActive merchants increased from 6,500 to 102,000, with the substantial majority coming from the adoption of Shop Pay Installments by merchants on Shopify's platform\n\n\nActive consumers grew 124%...