Affirm (NASDAQ:AFRM) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Posted by Stanley Muller on Nov 5th, 2026

Affirm (NASDAQ:AFRM – Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.38 by $0.09, FiscalAI reports. Affirm had a net margin of 45.29% and a return on equity of 47.91%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the company posted $0.23 EPS. Affirm’s revenue was up 35.2% on a year-over-year basis.

Here are the key takeaways from Affirm’s conference call:

Affirm reported 34% GMV growth in Q1 and set a full-year FY2027 growth floor of at least 30%. Management said growth was running in the high 30s early in Q2 and pointed to no specific reason for a slowdown.
Management said a new transformer-based underwriting model could raise approval rates by roughly 2–3 percentage points without adding losses, based on its initial comparisons. The company described further models using the same approach as a potential way to support growth.
Provision expense increased partly because Affirm kept some experimental loans on its balance sheet; executives said those loans were appropriately reserved and the experiment supported new-user growth. Funding costs rose 27 basis points sequentially, though the CFO cited seasonality, a 6% funding-cost ratio as a share of on-balance-sheet loans, and more than 70% fixed-rate funding.
Services was one of Affirm’s fastest-growing reported segments, with management citing early traction in partnerships that open access to areas such as home improvement and offline services. Direct-to-consumer and wallet channels also contributed around half of volume; the company said these channels support repeat usage, though card transactions typically generate lower interchange revenue than integrated merchant transactions.
Affirm sees potential for agentic shopping and brand-sponsored promotions to help merchants drive sales by offering targeted financing deals, including 0% plans. Executives stressed that agentic commerce is still at an early stage, so they cautioned against assuming it will deliver rapid growth.

Affirm Stock Performance

AFRM traded down $5.93 during midday trading on Thursday, reaching $69.66. The company’s stock had a trading volume of 7,271,081 shares, compared to its average volume of 3,825,261. The company has a fifty day simple moving average of $72.73 and a 200 day simple moving average of $66.57. The stock has a market cap of $23.50 billion, a P/E ratio of 12.62, a PEG ratio of 3.07 and a beta of 3.74. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. Affirm has a twelve month low of $42.10 and a twelve month high of $90.44.

Analyst Ratings Changes

A number of research firms have recently weighed in on AFRM. BMO Capital Markets reaffirmed an “outperform” rating on shares of Affirm in a research note on Wednesday, September 9th. Monness Crespi & Hardt began coverage on shares of Affirm in a research report on Monday, October 26th. They set a “buy” rating and a $90.00 price objective on the stock. The Goldman Sachs Group reduced their target price on shares of Affirm from $115.00 to $103.00 and set a “buy” rating for the company in a research note on Tuesday, October 13th. UBS Group boosted their target price on shares of Affirm from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, August 28th. Finally, Cantor Fitzgerald increased their price target on shares of Affirm from $88.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.41.

Read Our Latest Stock Analysis on Affirm

Insider Activity at Affirm

In other news, COO Michael Linford sold 79,219 shares of Affirm stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $90.01, for a total transaction of $7,130,502.19. Following the sale, the chief operating officer owned 120,713 shares of the company’s stock, valued at approximately $10,865,377.13. This trade represents a 39.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siphelele Jiyane sold 26,980 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $72.19, for a total value of $1,947,686.20. Following the completion of the transaction, the chief accounting officer owned 188,711 shares of the company’s stock, valued at $13,623,047.09. The trade was a 12.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 280,118 shares of company stock valued at $22,223,307. Company insiders own 11.01% of the company’s stock.

More Affirm News

Here are the key news stories impacting Affirm this week:

Positive Sentiment: Affirm reported earnings per share of $0.47, above the $0.38 analyst consensus cited by MarketScreener, and up from $0.23 a year earlier. MarketScreener earnings flash
Positive Sentiment: Revenue increased 35.2% year over year. MarketScreener’s earnings flash put revenue at $1.26 billion, above its $1.21 billion estimate. MarketScreener revenue flash
Neutral Sentiment: Revenue figures in the supplied coverage conflict: MarketBeat reported $1.15 billion versus a $1.21 billion estimate, while MarketScreener reported $1.26 billion. That discrepancy makes the revenue comparison less clear. MarketBeat earnings report
Negative Sentiment: A broader selloff in retail-focused fintech stocks weighed on shares, with coverage citing falling bitcoin and political uncertainty in Washington as pressures on the sector. 24/7 Wall St. market report

About Affirm

(Get Free Report)

Affirm Holdings, Inc (NASDAQ: AFRM) operates a financial technology platform that provides consumers with flexible payment options at the point of sale. Its services allow shoppers to split eligible purchases into scheduled installments, with terms and costs disclosed before a transaction is completed.

Affirm’s platform is available through online and mobile checkout experiences, as well as through the Affirm app. Its product offerings include buy now, pay later financing, the Affirm Card, and savings products.