Press release
Affirm Reports Fiscal Year 2022 Third Quarter Results
Exceeds Third Quarter Financial Outlook and Raises Outlook for Fiscal Year 2022 Network Continues to Rapidly Scale with Active Merchants Increasing from
About this update from Affirm Holdings, Inc.
[{"type":"text","content":"\nExceeds Third Quarter Financial Outlook and Raises Outlook for Fiscal Year 2022\n\nNetwork Continues to Rapidly Scale with Active Merchants Increasing from 12,000 to 207,000 and Active Consumers Growing by 137% Year over Year to 12.7 million\n\nGross Merchandise Volume (GMV) Increases 73% to $3.9 billion and Total Revenue Grows by 54% Year over Year to $354.8 million\n\nPlan to Achieve Sustained Adjusted Operating Income Profitability on a Run Rate Basis by the end of Fiscal Year 2023\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nAffirm 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 third quarter ended March 31, 2022.\n\n“We continue to deliver strong growth with attractive unit economics as we rapidly scale our network,” said Max Levchin, Founder and CEO of Affirm. “The number of active merchants on our platform grew from 12,000 to 207,000 year over year, and active consumers increased 137% to 12.7 million people. The secular trend toward adopting honest financial products and our ability to drive strong demand among merchants resulted in GMV growing by 73% year over year. We are especially proud of the re-engagement we are driving with consumers as 81% of our transactions were from repeat Affirm users. This represents our highest repeat transaction rate we have ever reported.”\n\nLevchin continued, \"As we advance our strategy to drive growth, maintain attractive unit economics, and deploy superior risk management, we plan to achieve a sustained profitability run rate on an adjusted operating income basis by July 1, 2023.”\n\nThird 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\nGMV was $3.9 billion, an increase of 73%.\n\n\n\nActive merchants increased from 12,000 to 207,000, driven primarily by the adoption of Shop Pay Installments by merchants on Shopify's platform.\n\n\n\nActive consumers grew 137% to 12.7 million and increased by 1.5 million, or 13%, on a sequential basis compared to as of December 31, 2021.\n\n\n\nTotal transactions grew to 10.5 million, an increase of 162%.\n\n\n\nTransactions per active consumer increased 19% to 2.7 as of March 31, 2022, and 81% of total transaction...