Affirm
Underwrites flexible installment payments across merchant checkouts, digital wallets, and Affirm Card.
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Profile
Offers Pay in X, monthly installment plans, and Affirm Card through merchant checkouts, digital wallets, and direct consumer channels. Revenue comes from merchant and card-network fees, interest, loan sales, and servicing, while the platform charges no late fees and operates through partner banks and capital-market funding.
Offers Pay in X, zero-interest and simple-interest monthly plans, and Affirm Card across merchant checkouts, digital wallets, its app, and virtual or physical cards.
Real-time underwriting and offer selection connect consumers with payment schedules disclosed up front, while merchant integrations, commerce platforms, and wallet partnerships broaden distribution. Distribution is rooted in the United States, with PayBright extending the platform into Canada.
Earnings come from merchant and card-network fees, interest, loan sales, and servicing rather than late fees. The model depends on partner banks, loan buyers, funding capacity, credit performance, merchant relationships, and consumer-credit rules; the proposed Affirm Bank remains subject to regulatory approval.
Company facts
Categories
Key statistics
Year to date +4.9% · Average volume (30d) 4.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 28, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $85 | $88 |
| Aug 28, 2026 | Susquehanna | Reiterate | Positive | $105 | $110 |
| Aug 28, 2026 | BMO Capital | Target | $86 | $101 | |
| Aug 28, 2026 | Oppenheimer | Target | $100 | $104 | |
| Aug 28, 2026 | RBC Capital | Reiterate | Sector Perform | $77 | $96 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 27, 2026 | $0.35 | $4.62 | +1,230.3% | $1.11B | $1.17B | +5.3% | +0.35% |
| May 7, 2026Q3 FY26 | $0.17 | $0.30 | +76.1% | $995.3M | $1.04B | +4.4% | −4.97% |
| Feb 5, 2026Q2 FY26 | $0.28 | $0.37 | +32.1% | $1.06B | $1.12B | +6.4% | −4.02% |
| Nov 6, 2025Q1 FY26 | $0.11 | $0.23 | +105.2% | $883.2M | $933.3M | +5.7% | +11.61% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $866.4M | $783.1M | $876.4M | $933.3M | $1.12B | $1.04B | |
| Gross profit | $602.2M | $512.1M | $593.5M | $631.4M | $779.6M | $684.9M | |
| Operating income | −$4.3M | −$8.4M | $58.1M | $63.7M | $117.6M | $202.2M | |
| Net income | $80.4M | $2.8M | $69.2M | $80.7M | $129.6M | $102.9M | |
| Diluted EPS | $0.23 | $0.01 | $0.20 | $0.23 | $0.37 | $0.30 | |
| Gross margin | 69.5% | 65.4% | 67.7% | 67.7% | 69.4% | 65.9% | |
| Operating margin | -0.5% | -1.1% | 6.6% | 6.8% | 10.5% | 19.5% |
Fiscal years (4-quarter sums)FY21 $870.5M · FY22 $1.35B · FY23 $1.59B · FY24 $2.32B · FY25 $3.22B
Revenue by product · Q4 FY26
Revenue by geography · FY26
Balance sheet, Mar 31, 2026Cash & short-term investments $2.97B · Total debt $8.91B · Total assets $13.14B · Shareholders' equity $3.78B
Dividends
No dividends on record.
Ownership
Shares outstanding 334.90M · Float 281.25M · 84.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Capital Research Global Investors | 26.00M | 7.76% | 13F | Aug 12, 2026 |
| Capital World Investors | 23.12M | 6.90% | 13F | Aug 12, 2026 |
| Morgan Stanley | 23.00M | 6.87% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 19.61M | 5.86% | 13F | Aug 7, 2026 |
| FMR LLC | 17.58M | 5.25% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 12, 2026 | Noel Bertram Watson | director | −2,000 | $77.86 |
| Jun 26, 2026 | Michael Linford | officer: Chief Operating Officer | −100,000 | $80.04 |
| May 13, 2026 | Noel Bertram Watson | director | −2,000 | $65.00 |
| Apr 14, 2026 | Noel Bertram Watson | director | −2,000 | $55.00 |
| Jan 5, 2026 | Robert O'Hare | officer: Chief Financial Officer | −36,401 | $80.00 |
Peers
- Klarna
Closest specialist rival across BNPL, cards, and merchant checkout
- Block
Afterpay and Cash App span checkout and post-purchase installments
- PayPal
Large wallet and checkout network with short- and long-term BNPL
- Synchrony Financial
Retail financing leader spanning cards, installments, and BNPL
- Bread Financial
Merchant-embedded cards and fixed-payment Bread Pay financing
- American Express
Card network combining revolving credit with fixed-fee installments
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Affirm | $77.40 | −0.37% | $26.04B | 70.7 | 44.6 | 6.6 | +33.0% |
| Klarna | $14.33 | +1.06% | $5.36B | — | 106.9 | 1.3 | — |
| Block | $83.54 | −0.05% | $49.74B | 149.2 | 18.3 | 2.0 | +9.3% |
| PayPal | $53.74 | +0.15% | $45.90B | 10.1 | 9.7 | 1.3 | +4.8% |
| Synchrony Financial | $80.54 | +3.19% | $25.40B | 8.0 | 8.2 | 1.3 | −21.1% |
| Bread Financial | $105.74 | −0.13% | $4.27B | 8.2 | 8.6 | 0.9 | +7.2% |
| American Express | $333.50 | +0.10% | $225.01B | 20.2 | 17.9 | 2.7 | +10.0% |
| Median | 10.1 | 13.8 | 1.3 | +7.2% |