Earnings Releases·Nov 5, 2026, 4:04 PM ET

Affirm — First Fiscal Quarter 2027 Earnings Summary

Total revenue grew 35% year-over-year to $1,262 million, while operating income surged 194% to $187 million, expanding the operating margin to 14.8% from 6.8% in FQ1'26.
GMV increased 34% year-over-year to $14.4 billion, driven by a 117% surge in Affirm Card GMV to $3.3 billion, with active cardholders doubling to 6.0 million.
Fiscal 2027 guidance projects GMV exceeding $65.25 billion and adjusted operating margins above 30.75%, with Q2 2027 revenue forecast between $1,435 million and $1,465 million.
Net cash position strengthened to $1.9 billion, and funding capacity rose to $31.7 billion, supported by the inaugural issuance of five-year ABS notes.
30+ day delinquencies rose 9 basis points year-over-year to 2.9%, while the company authorized a $176 million repurchase program for outstanding convertible notes.