Affirm Holdings, a leading payment network company, has released its annual financial report for the fiscal year ending June 30, 2024. The report showcases a significant increase in total revenue, net, which rose by 46% to $2.32 billion from $1.59 billion in the previous year. Operating expenses saw a modest increase of 5% to $2.94 billion. Despite this, the company reduced its operating loss by 49% to $615.85 million, down from $1.20 billion. Net loss also improved by 47%, decreasing to $517.76 million from $985.35 million. The company attributes its financial performance to the growth in Gross Merchandise Volume (GMV), which surged by 32% to $26.6 billion, driven by increased volume at top merchants and platform partners, as well as a rise in active consumers to 18.7 million and transactions per active consumer to 4.9. Affirm's...Show More

Affirm Holdings, a leading payment network company, has released its annual financial report for the fiscal year ending June 30, 2024. The report showcases a significant increase in total revenue, net, which rose by 46% to $2.32 billion from $1.59 billion in the previous year. Operating expenses saw a modest increase of 5% to $2.94 billion. Despite this, the company reduced its operating loss by 49% to $615.85 million, down from $1.20 billion. Net loss also improved by 47%, decreasing to $517.76 million from $985.35 million. The company attributes its financial performance to the growth in Gross Merchandise Volume (GMV), which surged by 32% to $26.6 billion, driven by increased volume at top merchants and platform partners, as well as a rise in active consumers to 18.7 million and transactions per active consumer to 4.9. Affirm's business development has been robust, with the expansion of its merchant base and active consumers, and the launch of the Affirm Card, which contributed to 8% of total transactions. Looking ahead, Affirm plans to continue leveraging its proprietary technology platform and data analytics to optimize risk pricing and enhance its product offerings. The company is also focused on expanding its network and diversifying its mix of funding relationships to support growth.