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Industrials : Marine | Small Cap Value
Based in Greece
Company profile

Pyxis Tankers Inc. is a maritime transportation holding company. The Company is focused on the product tanker sector. It owns a fleet of six double hull product tankers: Pyxis Epsilon with carrying capacity of approximately 50,295 deadweight tonnage (dwt); Pyxis Theta with carrying capacity of approximately 51,795 dwt, Pyxis Malou with carrying capacity of over 50,667 dwt; Pyxis Delta with carrying capacity of approximately 46,616 dwt; Northsea Beta with carrying capacity of over 8,647 dwt, and Northsea Alpha with carrying capacity of approximately 8,615 dwt. Four of the Company's vessels in the fleet are medium-range (MR), product tankers, three have eco-efficient or eco-modified designs, and two of them are short-range tanker sister ships. Its fleet is capable of transporting refined petroleum products, such as naphtha, gasoline, jet fuel, kerosene, diesel and fuel oil, as well as other liquid bulk items, such as vegetable oils and organic chemicals.

Closing Price
$0.3524
Day's Change
0.00 (0.00%)
Bid
--
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--
B/A Size
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Day's High
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Volume
(Light)
Volume:
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10-day average volume:
6,970
0

Affirm Reports Fiscal Year 2022 Third Quarter Results

4:05 pm ET May 12, 2022 (BusinessWire) Print

--Network 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

--Gross Merchandise Volume (GMV) Increases 73% to $3.9 billion and Total Revenue Grows by 54% Year over Year to $354.8 million

--Plan to Achieve Sustained Adjusted Operating Income Profitability on a Run Rate Basis by the end of Fiscal Year 2023

Affirm 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.

"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."

Levchin 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."

Third Quarter of Fiscal Year 2022 Operating Highlights:

All comparisons are made versus the same period in fiscal year 2021 unless otherwise stated.

GMV was $3.9 billion, an increase of 73%. Active merchants increased from 12,000 to 207,000, driven primarily by the adoption of Shop Pay Installments by merchants on Shopify's platform. Active 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. Total transactions grew to 10.5 million, an increase of 162%. Transactions per active consumer increased 19% to 2.7 as of March 31, 2022, and 81% of total transactions were from repeat Affirm consumers.

Third Quarter of Fiscal Year 2022 Financial Highlights:(1)

All comparisons are made versus the same period in fiscal year 2021 unless otherwise stated.

Total revenue was $354.8 million, a 54% increase, driven by continued GMV and merchant network revenue growth, higher interest income related to mix shift towards shorter term loans with greater relative loan discount, greater gains on sales of loans due to higher loan sale volume, and greater servicing income as the loan portfolio held by third-parties scaled. Total revenue less transaction costs increased 37% to $182.4 million, primarily as a result of strong revenue growth, funding cost efficiencies, and a decrease in loss on loan purchase commitment, offset by increased provision for credit losses. Provision for credit losses grew from negative $1.1 million a year ago to $66.3 million, as the year-ago figure included a significant release of excess COVID-related loan allowance, while this year's figure reflects the more normalized credit environment. Excluding the provision for credit losses, revenue less transaction costs increased by $116.1 million or 88%. Operating loss was $226.6 million compared to $209.3 million in the third quarter of fiscal 2021 driven by continued investment in sales and marketing, which includes $102.4 million of expense related to warrants granted to Amazon in November 2021. Partially offsetting the increase in sales and marketing expense was a decrease in stock-based compensation expense of $81.3 million compared to the prior-year period, which included higher stock-based compensation expense due to the Company's January 2021 initial public offering. Adjusted operating income was $4.0 million, compared to adjusted operating income of $4.9 million for the third quarter of fiscal 2021. Net loss was $54.7 million compared to $287.1 million in the third quarter of fiscal 2021. The improved loss was primarily driven by a gain of $136.2 million recognized in the current-year period, based on the change in fair value of the contingent consideration liability associated with the Company's acquisition of PayBright, compared with a loss of $78.5 million in the prior-year period, driven by a decrease in the value of its common stock.

Recent Business Highlights

Affirm announced today a multi-year extension of its partnership in the U.S. with Shopify. The expanded agreement cements Affirm as the exclusive pay-over-time provider for Shop Pay Installments in the U.S. Beginning this summer, all eligible U.S. merchants offering Shop Pay Installments will have access to Affirm's Adaptive Checkout(TM), which dynamically offers biweekly and monthly payment options side-by-side in a single integrated checkout. Consumers will be able to use Shop Pay Installments for cart sizes that range from $50 to $17,500, with payment terms ranging from six weeks to 12 months, and biweekly interest-free payments to monthly simple interest-bearing installments. Additional details are included in a Form 8-K filing that will be available here. Affirm entered into a strategic partnership with Stripe that will make Affirm's Adaptive Checkout(TM) available to all Stripe users in the U.S., unlocking streamlined distribution to millions of merchants and consumers. The Company saw GMV growth accelerate in categories with pent-up demand, such as Travel and Ticketing, which grew by 122% from the third quarter of fiscal 2021, and 50% on a sequential basis from the second quarter of fiscal 2022. On May 4, 2022, the Company completed a $500 million asset-backed securitization. The offering included five classes of fixed-rate notes, all of which were rated by DBRS-Morningstar, with assigned ratings ranging between AAA (sf) and BB (sf). The notes were placed with a diversified mix of institutional investors in a private offering pursuant to Rule 144A under the Securities Act of 1933, as amended. This was the Company's first transaction to achieve a AAA rating on a class of notes, and represented Affirm's ninth asset-backed security transaction since launching its program in early fiscal year 2021.

Michael Linford, CFO of Affirm, commented, "Our strong performance demonstrates our ability to drive growth with attractive unit economics, despite volatile market conditions. We outperformed our outlook, especially on revenue less transaction costs, as we rapidly scale our network while driving operating leverage and greater capital efficiencies. With our superior technology, capital markets expertise, and business model advantage of underwriting every individual transaction before extending access to credit, Affirm is well-positioned for continued growth and long-term value creation."

Financial Outlook

The following table summarizes Affirm's financial outlook for the fiscal fourth quarter and full year 2022 periods.

                  Fiscal Q4 2022           Fiscal Year 2022
                                                    ----------------------                      ------------------------
GMV                              $3.95 to $4.05 billion   $15.04 to $15.14 billion
Revenue                           $345 to $355 million    $1,330 to $1,340 million
Transaction Costs                 $185 to $190 million      $692 to $697 million
Revenue Less Transaction Costs    $160 to $165 million      $638 to $643 million
Adjusted Operating Margin(2)      (15) to (11) percent     (7.6) to (6.6) percent

The Company's outlook assumes no material impact to GMV, revenue, or transaction costs from the rollout of its Affirm Debit+ card.

Conference Call

Affirm will host a conference call and webcast to discuss third quarter fiscal year 2022 financial results on Thursday, May 12, 2022, at 5:00 pm ET. Hosting the call will be Max Levchin, Founder and Chief Executive Officer, and Michael Linford, Chief Financial Officer. The conference call will be webcast live from the Company's investor relations website at https://investors.affirm.com/. A replay will be available on the investor relations website following the call.

Key Operating Metrics, Non-GAAP Financial Measures and Supplemental Performance Indicators

                                                                Three Months Ended March 31,                                                           Three Months Ended March 31,                                                                                                  Nine Months Ended March 31,
                                                                      ------------------------------------------------------ ----------------------------------------------------------------------------------------------------------------                            ------------------------------------------------------------------------------------------------------------------------
                                                                            2022                                                2022                                               2021                                               2022                                                   2021
                                                                      ------------------------------------------------------ ----------------------------------------------                        ----------------------------------------------                        ----------------------------------------------                        ------------------------------------------------------
                                                   (in millions, except GMV and percent data) (unaudited)                                                                                                           (in millions, except GMV and percent data) (unaudited)
GMV (in billions)                                                                                                          $                    $    3.9                      $                    $    2.3                      $                    $   11.1                      $                    $            5.8  
Total Transactions (count)                                                                                    10.5          4.0         29.4                 10.1  
Total Revenue, net                                                                                                         $                    $  354.8                      $                    $  230.7                      $                    $  985.2                      $                    $          608.7  
Total Revenue as a % of GMV                                                                                    9.1 %                          10.2 %                           8.9 %                                  10.5 %
Transaction Costs (Non-GAAP)                                                                                               $                    $  172.3                      $                    $   97.0                      $                    $  507.1                      $                    $          324.8  
Transaction Costs as a % of GMV                                                                                4.4 %                           4.3 %                           4.6 %                                   5.6 %
Revenue Less Transaction Costs (Non-GAAP)                                                                                  $                    $  182.4                      $                    $  133.6                      $                    $  478.1                      $                    $          283.9  
Revenue Less Transaction Costs as a % of GMV                                                                   4.7 %                           5.9 %                           4.3 %                                   4.9 %
Operating Loss                                                                                                             $                    $ (226.6 )                                       $                    $ (209.3 )                                       $                    $ (588.8 )                                       $                    $         (269.4 )
Operating Margin                                                                                             (63.9 )%                        (90.8 )%                        (59.8 )%                                (44.3 )%
Adjusted Operating Income (Loss) (Non-GAAP)                                                                                $                    $    4.0                      $                    $    4.9                      $                    $  (49.0 )                                       $                    $            0.1  
Adjusted Operating Margin (Non-GAAP)                                                                           1.1 %                           2.1 %                          (5.0 )%                       -- %
Net Loss                                                                                                                   $                    $  (54.7 )                                       $                    $ (287.1 )                                       $                    $ (521.0 )                                       $                    $         (317.6 )
                                                                                                                                                                                        
                                                                                                                                                                                        
                                                                                                                        March 31, 2022                     March 31, 2022                      June 30, 2021                      June 30, 2021                     March 31, 2021                         March 31, 2021
                                                                                                                                                                              -------------------- ----------------------------------------------   -------------------- ----------------------------------------------   -------------------- ------------------------------------------------------
                                                                                                                          (unaudited)                                                                                                  (unaudited)
Active Consumers (in millions)                                                                                                                12.7          7.1                  5.4  
Transactions per Active Consumer                                                                                                               2.7          2.3                  2.3  
Active Merchants (in thousands)                                                                                                              207.0         29.0                 11.5  
Total Platform Portfolio (Non-GAAP) (in billions)                                                                                                          $                    $    6.7                      $                    $    4.7                      $                    $            4.2  
Equity Capital Required (Non-GAAP) (in millions)                                                                                                           $                    $  157.7                      $                    $  178.1                      $                    $          206.6  
Equity Capital Required as a % of Total Platform Portfolio (Non-GAAP)                                                                          2.4 %                           3.8 %                                   4.9 %

Key Operating Metrics

Gross Merchandise Volume ("GMV") - The Company defines GMV as the total dollar amount of all transactions on the Affirm platform during the applicable period, net of refunds. GMV does not represent revenue earned by the Company. However, the Company believes that GMV is a useful operating metric to both the Company and investors in assessing the volume of transactions that take place on the Company's platform, which is an indicator of the success of the Company's merchants and the strength of that platform. Active Consumers - The Company defines an active consumer as a consumer who engages in at least one transaction on its platform during the 12 months prior to the measurement date. The Company believes that active consumers is a useful operating metric to both the Company and investors in assessing consumer adoption and engagement and measuring the size of the Company's network. Transactions per Active Consumer - Transactions per active consumer is defined as the average number of transactions that an active consumer has conducted on its platform during the 12 months prior to the measurement date. The Company believes that transactions per active consumer is a useful operating metric to both the Company and investors in assessing consumer engagement and repeat usage, which is an indicator of the value of the Company's network.

Non-GAAP Financial Measures

Transaction Costs - The Company defines transaction costs as the sum of loss on loan purchase commitment, provision for credit losses, funding costs, and processing and servicing expense. The Company believes that transaction costs is a useful financial measure to both the Company and investors of those costs, which vary with the volume of transactions processed on the Company's platform. Transaction Costs as a Percentage of GMV - The Company defines transaction costs as a percentage of GMV as transaction costs, as defined above, as a percentage of GMV, as defined above. The Company believes that transaction costs as a percentage of GMV is a useful financial measure to both the Company and investors as it approximates the variable cost efficiency of transactions processed on the Company's platform. Revenue Less Transaction Costs - The Company defines revenue less transaction costs as GAAP total revenue less transaction costs, as defined above. The Company believes that revenue less transaction costs is a useful financial measure to both the Company and investors of the economic value generated by transactions processed on the Company's platform. Revenue Less Transaction Costs as a Percentage of GMV - The Company defines revenue less transaction costs as a percentage of GMV as revenue less transaction costs, as defined above, as a percentage of GMV, as defined above. The Company believes that revenue less transaction costs as a percentage of GMV is a useful financial measure to both the Company and investors of the unit economics of transactions processed on the Company's platform. Adjusted Operating Income (Loss) - The Company defines adjusted operating income (loss) as its GAAP operating loss, excluding: (a) depreciation and amortization; (b) stock-based compensation included in GAAP operating loss; (c) the expense related to warrants and share-based payments granted to enterprise partners; and (d) certain other costs as set forth in the reconciliation of adjusted operating income (loss) to GAAP operating loss included in the tables at the end of this press release. Adjusted operating income (loss) is presented because the Company believes that it is a useful financial measure to both the Company and investors for evaluating its operating performance and that it facilitates period to period comparisons of the Company's results of operations as the items excluded generally are not a function of the Company's operating performance. Adjusted Operating Margin - The Company defines adjusted operating margin as its adjusted operating income (loss), as defined above, as a percentage of its GAAP total revenue. Similar to adjusted operating income (loss), the Company believes that adjusted operating margin is a useful financial measure to both the Company and investors for evaluating its operating performance and that it facilitates period to period comparisons of the Company's results of operations as the items excluded generally are not a function of the Company's operating performance. Total Platform Portfolio - The Company defines total platform portfolio as the unpaid principal balance outstanding of all loans facilitated through its platform as of the balance sheet date, including loans held for investment, loans held for sale, and loans owned by third-parties. The Company believes that total platform portfolio is a useful financial measure to both the Company and investors in assessing the scale of funding requirements for the Company's network. Equity Capital Required - The Company defines equity capital required as the sum of the balance of loans held for investment and loans held for sale, less the balance of funding debt and notes issued by securitization trusts as of the balance sheet date. The Company believes that equity capital required is a useful financial measure to both the Company and investors in assessing the amount of the Company's total platform portfolio that the Company funds with its own equity capital. Equity Capital Required as a Percentage of Total Platform Portfolio - The Company defines equity capital required as a percentage of total platform portfolio as equity capital required, as defined above, as a percentage of total platform portfolio, as defined above. The Company believes that equity capital required as a percentage of total platform portfolio is a useful financial measure to both the Company and investors in assessing the proportion of outstanding loans on the Company's platform that are funded by the Company's own equity capital.

Supplemental Performance Indicators

Active Merchants - The Company defines an active merchant as a merchant which engages in at least one transaction on its platform during the 12 months prior to the measurement date. The Company believes that active merchants is a useful performance indicator to both the Company and investors because it measures the reach of the Company's network. Total Transactions - The Company defines total transactions as the total number of unique transactions on the Affirm platform during the applicable period. The Company believes that total transactions is a useful performance indicator to both the Company and investors because it measures the frequency of consumer engagement, as demonstrated by the total number of unique transactions. Total Revenue as a Percentage of GMV - The Company defines total revenue as a percentage of GMV as GAAP total revenue as a percentage of GMV, as defined above. The Company believes that total revenue as a percentage of GMV is a useful performance indicator to both the Company and investors of the revenue generated on a transaction processed on the Company's platform. Allowance for Credit Losses as a Percentage of Loans Held for Investment - The Company defines allowance for credit losses as a percentage of loans held for investment as GAAP allowance for credit losses as a percentage of GAAP loans held for investment. The Company believes that allowance for credit losses as a percentage of loans held for investment is a useful performance indicator to both the Company and investors of the future estimated credit losses on the Company's outstanding loans held for investment.

Use of Non-GAAP Financial Measures

To supplement the Company's condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States ("GAAP"), the Company presents the following non-GAAP financial measures: transaction costs, transaction costs as a percentage of GMV, revenue less transaction costs, revenue less transaction costs as a percentage of GMV, adjusted operating income (loss), adjusted operating margin, total platform portfolio, equity capital required, and equity capital required as a percentage of total platform portfolio. Definitions of these non-GAAP financial measures are included under "Key Operating Metrics, Non-GAAP Financial Measures and Supplemental Performance Indicators" above, and reconciliations of these non-GAAP financial measures with the most directly comparable GAAP financial measures are included in the tables below.

Summaries of the reasons why the Company believes that the presentation of each of these non-GAAP financial measures provides useful information to the Company and investors are included under "Key Operating Metrics, Non-GAAP Financial Measures and Supplemental Performance Indicators" above. In addition, the Company uses these non-GAAP financial measures in conjunction with financial measures prepared in accordance with GAAP for planning purposes, including the preparation of its annual operating budget, and for evaluating the effectiveness of its business strategy. However, these non-GAAP financial measures are presented for supplemental informational purposes only, and these non-GAAP financial measures have limitations as analytical tools. Some of these limitations are as follows:

Revenue less transaction costs and revenue less transaction costs as a percentage of GMV are not intended to be measures of operating profit or loss as they exclude key operating expenses such as technology and data analytics, sales and marketing, and general and administrative expenses; Adjusted operating income (loss) and adjusted operating margin exclude certain recurring, non-cash charges such as depreciation and amortization, the expense related to warrants and share-based payments granted to enterprise partners, and share-based compensation expense, which have been, and will continue to be for the foreseeable future, significant recurring expenses; and Other companies, including companies in the same industry, may calculate these non-GAAP financial measures differently from how the Company calculates them or not at all, which reduces its usefulness as a comparative measure.

Accordingly, investors should not consider these non-GAAP financial measures in isolation or as substitutes for analysis of the Company's financial results as reported under GAAP, and these non-GAAP measures should be considered along with other operating and financial performance measures presented in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate the business.

Cautionary Note About Forward-Looking Statements

This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including statements regarding: the Company's strategy and future operations, including the Company's partnerships with certain key merchants and commerce platforms; the development, innovation, introduction and performance of, and demand for, the Company's products, including the Debit+ Card; acquisition and retention of merchants and consumers; the Company's future growth, investments, network expansion, product mix, brand awareness, financial position, gross market value, revenue, transaction costs, operating income, provision for credit losses, and cash flows; and general economic trends and trends in the Company's industry and markets. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

Risks, uncertainties and assumptions include factors relating to: the Company's need to attract additional merchants, partners and consumers and retain and grow its relationships with existing merchants, partners and consumers; the highly competitive nature of its industry; its need to maintain a consistently high level of consumer satisfaction and trust in its brand; the concentration of a large percentage of its revenue and GMV with a small number of merchant partners and commerce platforms; its ability to sustain its revenue growth rate or the growth rate of its related key operating metrics; the terms of its agreement with one of its originating bank partners; its existing funding arrangements that may not be renewed or replaced or its existing funding sources that may be unwilling or unable to provide funding to it on terms acceptable to it, or at all; its ability to effectively underwrite loans facilitated through its platform and accurately price credit risk; the performance of loans facilitated through its platform; changes in market interest rates; its securitizations, warehouse credit facilities and forward flow agreements; the impact on its business of general economic conditions, the financial performance of its merchants, and fluctuations in the U.S. consumer credit market; its ability to grow effectively through acquisitions or other strategic investments or alliances; seasonal fluctuations in our revenue as a result of consumer spending patterns; pending and future litigation, regulatory actions and/or compliance issues; and other risks that are described in its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q and in its other filings with the U.S. Securities and Exchange Commission.

These forward-looking statements reflect the Company's views with respect to future events as of the date hereof and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, investors should not place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and the Company assumes no obligation and does not intend to update these forward-looking statements.

About Affirm

Affirm's mission is to deliver honest financial products that improve lives. By building a new kind of payment network -- one based on trust, transparency and putting people first -- we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike credit cards and other pay-over-time options, we show consumers exactly what they will pay up front, never increase that amount, and never charge any late or hidden fees.

AFRM-F

                                                                                                                                                                                              AFFIRM HOLDINGS, INC.
                                                                                                                                                                                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                                                                                                                                                                                   (Unaudited)
                                                                                                                                                                               (in thousands, except share and per share amounts)
                                                                                                                                                                                                                                                          March 31, 2022                                            June 30, 2021
                                                                                                                                                                                                                                                          --------------------------------------------------                        ------------------------------------------------------
Assets                                                                                                                                                                                                                                                                                                                
Cash and cash equivalents                                                                                                                                                                                                                                                    $  2,261,937                        $      1,466,558  
Restricted cash                                                                                                                                                                                                                                            413,628              226,074  
Securities available for sale at fair value                                                                                                                                                                                                                    617,023               16,170  
Loans held for sale                                                                                                                                                                                                                                              3,618               13,030  
Loans held for investment                                                                                                                                                                                                                                    2,502,860            2,022,320  
Allowance for credit losses                                                                                                                                                                                                                                   (159,475 )                              (117,760 )
                                                                                                                                                                                                                                                          -------------------- ---------- --------------------                      -------------------- -------------- --------------------
                                                                                                                                                                                                                                              2,343,385            1,904,560  
    Loans held for investment, net
Accounts receivable, net                                                                                                                                                                                                                                       124,614               91,575  
Property, equipment and software, net                                                                                                                                                                                                                          141,658               62,499  
Goodwill                                                                                                                                                                                                                                            547,393              516,515  
Intangible assets                                                                                                                                                                                                                                             60,890               67,930  
Commercial agreement assets                                                                                                                                                                                                                                    287,129              227,377  
Other assets                                                                                                                                                                                                                                            230,451              274,679  
                                                                                                                                                                                                                                                          -------------------- ---------- --------------------                      -------------------- -------------- --------------------
Total Assets                                                                                                                                                                                                                                                                             $  7,031,726                        $      4,866,967  
                                                                                                                                                                                                                                                          ==================== ========== ====================                      ==================== ============== ====================
Liabilities and Stockholders' Equity                                                                                                                                                                                                                                                   
Liabilities:                                                                                                                                                                                                                                                                                               
Accounts payable                                                                                                                                                                                                                                                          $     48,985                        $         57,758  
Payable to third-party loan owners                                                                                                                                                                                                                              35,962               50,079  
Accrued interest payable                                                                                                                                                                                                                                         2,992                2,751  
Accrued expenses and other liabilities                                                                                                                                                                                                                         313,307              323,577  
Convertible senior notes, net                                                                                                                                                                                                                                1,705,624       --  
Notes issued by securitization trusts                                                                                                                                                                                                                        1,447,568            1,176,673  
Funding debt                                                                                                                                                                                                                                            901,233              680,602  
                                                                                                                                                                                                                                                          -------------------- ---------- --------------------                      -------------------- -------------- --------------------
                                                                                                                                                                                                                                                                 4,455,671            2,291,440  
    Total liabilities
                                                                                                                                                                                                                                                          -------------------- ---------- --------------------                      -------------------- -------------- --------------------
Stockholders' equity:                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                         2                    2  
    Class A common stock, par value $0.00001 per share: 3,030,000,000 shares authorized, 225,617,857 shares issued and outstanding as of March 31, 2022; 3,030,000,000 shares authorized, 181,131,728 shares issued and outstanding as of June 30, 2021
                                                                                                                                                                                                                                                                         1                    1  
    Class B common stock, par value $0.00001 per share: 140,000,000 shares authorized, 60,160,468 shares issued and outstanding as of March 31, 2022; 140,000,000 shares authorized, 88,226,376 shares issued and outstanding as of June 30, 2021
Additional paid in capital                                                                                                                                                                                                                                                      3,987,881            3,467,236  
Accumulated deficit                                                                                                                                                                                                                                                            (1,419,506 )                              (898,485 )
Accumulated other comprehensive gain (loss)                                                                                                                                                                                                                                         7,677                6,773  
                                                                                                                                                                                                                                                          -------------------- ---------- --------------------                      -------------------- -------------- --------------------
Total stockholders' equity                                                                                                                                                                                                                           2,576,055            2,575,527  
                                                                                                                                                                                                                                                          -------------------- ---------- --------------------                      -------------------- -------------- --------------------
                                                                                                                                                                                          AFFIRM HOLDINGS, INC.
                                                                                                                                                                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
                                                                                                                                                                                               (Unaudited)
                                                                                                                                                                           (in thousands, except share and per share amounts)
                                                                                                                                                                      
                                                            Three Months Ended March 31,                                                     Three Months Ended March 31,                                                                                                           Nine Months Ended March 31,
                                                                               ---------------------------- -----------------------------------------------------------------------------------------------------------------------------                            -----------------------------------------------------------------------------------------------------------------------------
                                                                        2022                                      2022                                                     2021                                                      2022                                                     2021
                                                                               ---------------------------- ---------------------------------------------------                        ------------------------------------------------------                        ---------------------------------------------------                        ------------------------------------------------------
Revenue                                                                                                                                                                                                                                                                                                    
                                                                                                          $                    $     121,054                      $                    $         97,999                      $                    $     340,385                      $                    $        290,894  
    Merchant network revenue
                                                                                                23,169               13,809            69,122               30,587  
    Virtual card network revenue
                                                                               ---------------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- --------------------
                                                                                               144,223              111,808           409,507              321,481  
        Total network revenue
                                                                                               134,599               94,530           390,256              222,624  
    Interest income
                                                                                                52,484               16,350           141,153               47,344  
    Gain on sales of loans
                                                                                                23,456                7,977            44,242               17,235  
    Servicing income
                                                                               ---------------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- --------------------
Total Revenue, net                                                                                        $                    $     354,762                      $                    $        230,665                      $                    $     985,158                      $                    $        608,684  
                                                                               ---------------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- --------------------
Operating Expenses                                                                                                                                                                                                                                                                                         
                                                                                                          $                    $      46,853                      $                    $         62,054                      $                    $     163,796                      $                    $        195,690  
    Loss on loan purchase commitment
                                                                                                66,294               (1,063 )                            182,581               40,389  
    Provision for credit losses
                                                                                                15,824               14,665            50,277               37,077  
    Funding costs
                                                                                                43,371               21,368           110,421               51,668  
    Processing and servicing
                                                                                               110,291              104,806           283,293              180,208  
    Technology and data analytics
                                                                                               156,214               58,184           363,650              119,878  
    Sales and marketing
                                                                                               142,466              179,999           419,962              253,188  
    General and administrative
                                                                               ---------------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- --------------------
Total Operating Expenses                                                                       581,313              440,013         1,573,980              878,098  
                                                                               ---------------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- --------------------
Operating Loss                                                                                            $                    $    (226,551 )                                       $                    $       (209,348 )                                       $                    $    (588,822 )                                       $                    $       (269,414 )
                                                                               ---------------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- --------------------
Other (expense) income, net                                                                    172,139              (77,773 )                             68,507              (48,088 )
                                                                               ---------------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- --------------------
Loss Before Income Taxes                                                                                  $                    $     (54,412 )                                       $                    $       (287,121 )                                       $                    $    (520,315 )                                       $                    $       (317,502 )
                                                                               ---------------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- --------------------
Income tax expense (benefit)                                                                       259                  (70 )                                706                  105  
                                                                               ---------------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- --------------------
Net Loss                                                                                                  $                    $     (54,671 )                                       $                    $       (287,051 )                                       $                    $    (521,021 )                                       $                    $       (317,607 )
                                                                               ---------------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- --------------------
Other Comprehensive Income (Loss)                                                                                                                                                                                                                                                                          
                                                                                                          $                    $       5,406                      $                    $          2,829                      $                    $       3,945                      $                    $          5,048  
    Foreign currency translation adjustments
                                                                                                (2,105 )                        --            (3,041 )                        --  
    Unrealized gain (loss) on securities available for sale, net
                                                                               ---------------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- --------------------
Net Other Comprehensive Income (Loss)                                                            3,301                2,829                    904                              904                5,048  
                                                                               ---------------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------------------  -------------------- -------------------- -------------------- -------------- --------------------
Comprehensive Loss                                                                                        $                    $     (51,370 )                                       $                    $       (284,222 )                                       $                    $    (520,117 )                                       $                    $       (312,559 )
                                                                               ============================ ==================== =========== ==================== ==================== ==================== ============== ==================== ==================== ==================== =========== ==================== ==================== ==================== ============== ====================
Per share data:
Net loss per share attributable to common stockholders for Class A and Class B                                                                                                                                                                                       
                                                                                                          $                    $       (0.19 )                                       $                    $          (1.23 )                                       $                    $       (1.86 )                                       $                    $          (2.60 )
    Basic
                                                                                                          $                    $       (0.19 )                                       $                    $          (1.23 )                                       $                    $       (1.86 )                                       $                    $          (2.80 )
    Diluted
Weighted average common shares outstanding                                                                                                                                               
                                                                                           285,641,820          233,309,590       279,570,015          122,161,508  
    Basic
                                                                                           285,641,820          233,309,590       279,570,015          123,329,359  
    Diluted
                                                                                                                                                                      
                                                                                                                                                                      
The following table presents the components and classification of stock-based compensation (in thousands):
                                                            Three Months Ended March 31,                                                     Three Months Ended March 31,                                                                                                           Nine Months Ended March 31,
                                                                               ---------------------------- -----------------------------------------------------------------------------------------------------------------------------                            -----------------------------------------------------------------------------------------------------------------------------
                                                                        2021                                      2021                                                     2020                                           2021                                             2020
                                                                               ---------------------------- ---------------------------------------------------                        ------------------------------------------------------                        -------------------------------  --------------------                      ------------------------------------------------------
                                                                                                58,100                115,566                                                  115,566         187,789              121,867  
    General and administrative
                                                                                                33,639                 52,058                                                   52,058          75,133               56,827  
    Technology and data analytics
                                                                                                 5,998                 10,568                                                   10,568          15,655               11,909  
    Sales and marketing
                                                                                                   650                  1,447                                                    1,447           1,536                1,760  
    Processing and servicing
                                                                               ---------------------------- -------------------- ----------- -------------------- -------------------- ------------------------------------------------------   -------------------- -------------------- ----------- -------------------- -------------------- -------------------- -------------- --------------------
                                                                                                                                                                                                AFFIRM HOLDINGS, INC.
                                                                                                                                                                                   CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                                                                                                                                                                     (Unaudited)
                                                                                                                                                                                                   (in thousands)
                                                                                                                                                                                                   
                                                                                                                                                                       Three Months Ended March 31,                                                                                                              Nine Months Ended March 31,
                                                                                                                  --------------------------------------------------------------------------------------------------------------------------------                            --------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                            2022                                                       2021                                                       2022                                                                          2021
                                                                                                                  ------------------------------------------------------                        ------------------------------------------------------                        ------------------------------------------------------                        ------------------------------------------------------
Cash Flows from Operating Activities                                                                                                                                                                                                                          
                                                                                                                                     $        (54,671 )                                         $       (287,051 )                                         $       (521,021 )                                         $       (317,607 )
    Net Loss
Adjustments to reconcile net loss to net cash used in operating activities:                                                                                                                        
                                                                                                                            66,294               (1,063 )                               182,581               40,389  
        Provision for credit losses
                                                                                                                           (42,036 )                               (29,252 )                              (129,714 )                               (60,705 )
        Amortization of premiums and discounts on loans, net
                                                                                                                           (52,484 )                               (16,350 )                              (141,153 )                               (47,344 )
        Gain on sales of loans
                                                                                                                          (143,721 )                                75,878              (38,821 )                                45,310  
        Changes in fair value of assets and liabilities
                                                                                                                            28,919               18,797               72,804               50,097  
        Amortization of commercial agreement assets
                                                                                                                             3,647                1,314               13,215                3,675  
        Amortization of debt issuance costs
                                                                                                            968       --                  968       --  
        Amortization of discount on securities available for sale
                                                                                                         92,169       --              157,023       --  
        Commercial agreement warrant expense
                                                                                                                            98,387              179,639              280,113              192,363  
        Stock-based compensation
                                                                                                                            13,102                5,021               35,607               12,092  
        Depreciation and amortization
                                                                                                                              (528 )                                15,640               (5,725 )                                18,163  
        Other
                                                                                                                        (1,255,325 )                              (606,757 )                            (3,869,327 )                            (1,640,672 )
        Purchases of loans held for sale
                                                                                                                         1,261,160              597,881            3,868,919            1,599,554  
        Proceeds from the sale of loans held for sale
                                                                                                                                                                                                                                                              
        Change in operating assets and liabilities:
                                                                                                                             5,650                2,619              (42,467 )                                (6,461 )
            Accounts receivable, net
                                                                                                                           (37,403 )                              (119,289 )                                28,018             (208,798 )
            Other assets
                                                                                                                             3,396               (3,798 )                                (8,773 )                                 4,064  
            Accounts payable
                                                                                                                           (35,553 )                                 3,480              (14,117 )                                11,526  
            Payable to third-party loan owners
                                                                                                                               371                  736                  240                2,535  
            Accrued interest payable
                                                                                                                            19,677               39,297               28,545              128,602  
            Accrued expenses and other liabilities
                                                                                                                  -------------------- -------------- --------------------                      -------------------- -------------- --------------------                      -------------------- -------------- --------------------                      -------------------- -------------- --------------------
Net Cash Used in Operating Activities                                                                                      (27,981 )                              (123,258 )                              (103,085 )                              (173,217 )
                                                                                                                  -------------------- -------------- --------------------                      -------------------- -------------- --------------------                      -------------------- -------------- --------------------                      -------------------- -------------- --------------------
Cash Flows from Investing Activities                                                                                                                                                                                    
                                                                                                     (2,876,978 )                            (1,622,046 )                            (7,529,324 )                            (4,313,834 )
    Purchases and origination of loans held for investment
                                                                                                        550,065              143,235            1,330,341              348,195  
    Proceeds from the sale of loans held for investment
                                                                                                      2,304,460            1,301,542            5,867,583            3,002,351  
    Principal repayments and other loan servicing activity
                                                                                                 --                8,852               (5,999 )                              (104,776 )
    Acquisition, net of cash and restricted cash acquired
                                                                                                 --              (25,900 )                        --              (25,900 )
    Acquisition of commercial agreement assets
                                                                                                        (21,095 )                                (5,351 )                               (59,254 )                               (12,414 )
    Additions to property, equipment and software
                                                                                                       (258,323 )                        --             (770,047 )                        --  
    Purchases of securities available for sale
                                                                                                        132,728       --              191,854       --  
    Proceeds from maturities and repayments of securities available for sale
                                                                                                          3,095       --              (10,775 )                        --  
    Other investing cash inflows (outflows)
                                                                                                                  -------------------- -------------- --------------------                      -------------------- -------------- --------------------                      -------------------- -------------- --------------------                      -------------------- -------------- --------------------
Net Cash Used in Investing Activities                                                                                     (166,048 )                              (199,668 )                              (985,621 )                            (1,106,378 )
                                                                                                                  -------------------- -------------- --------------------                      -------------------- -------------- --------------------                      -------------------- -------------- --------------------                      -------------------- -------------- --------------------
Cash Flows from Financing Activities                                                                                                                                                               
                                                                                                                    --       --            1,704,300       --  
    Proceeds from issuance of convertible debt, net
                                                                                                                         1,278,571              880,526            2,776,245            2,413,905  
    Proceeds from funding debt
                                                                                                                                (3 )                                (4,479 )                                (8,154 )                               (11,266 )
    Payment of debt issuance costs
                                                                                                     (1,045,308 )                            (1,011,197 )                            (2,572,876 )                            (2,555,699 )
    Principal repayments of funding debt
                                                                                                           (146 )                               499,774              499,494            1,396,229  
    Proceeds from issuance of notes and residual trust certificates by securitization trusts
                                                                                                                          (131,256 )                               (74,113 )                              (233,723 )                              (144,503 )
    Principal repayments of notes issued by securitization trusts
                                                                                                                    --       --       --              434,542  
    Proceeds from issuance of redeemable convertible preferred stock, net
                                                                                                 --                  (13 )                        --                  (13 )
    Conversion of redeemable convertible preferred stock
                                                                                                                    --            1,305,301       --            1,305,301  
    Proceeds from initial public offering, net
                                                                                                          8,171               20,398               67,740               43,815  
    Proceeds from exercise of common stock options and warrants and contributions to ESPP
                                                                                                            (80 )                                    (3 )                                   (84 )                                  (786 )
    Repurchases of common stock
                                                                                                        (54,162 )                              (127,566 )                              (166,942 )                              (127,566 )
    Payments of tax withholding for stock-based compensation
                                                                                                                  -------------------- -------------- --------------------                      -------------------- -------------- --------------------                      -------------------- -------------- --------------------                      -------------------- -------------- --------------------
Net Cash Provided by Financing Activities                                                                55,787            1,488,628            2,066,000            2,753,959  
                                                                                                                              (997 )                                 4,510                5,639                4,510  
    Effect of exchange rate changes on cash, cash equivalents and restricted cash
                                                                                                                  -------------------- -------------- --------------------                      -------------------- -------------- --------------------                      -------------------- -------------- --------------------                      -------------------- -------------- --------------------
Net Increase (Decrease) in Cash and Cash Equivalents and Restricted Cash                                                  (139,239 )                             1,170,212              982,933            1,478,874  
Cash, Cash equivalents and Restricted cash, Beginning of period                                                          2,814,804              636,790            1,692,632              328,128  
                                                                                                                  -------------------- -------------- --------------------                      -------------------- -------------- --------------------                      -------------------- -------------- --------------------                      -------------------- -------------- --------------------
                                                                                                                                              AFFIRM HOLDINGS, INC.
                                                                                                                             CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, CONT.
                                                                                                                                                   (Unaudited)
                                                                                                                                                 (in thousands)
                                                                                            Three Months Ended March 31,                                                                    Nine Months Ended March 31,
                                                                                                  ----------------------------------------------------------------------------------------                          ----------------------------------------------------------------------------------------
                                                                            2022                                  2021                                  2022                                  2021
                                                                                                  ----------------------------------                       ----------------------------------                       ----------------------------------                       ----------------------------------
Supplemental Disclosures of Cash Flow Information                                                                     
                                                                                                                     $         11,182                    $                    $         11,859                    $                    $         34,325                    $                    $         28,575
    Cash payments for interest expense
                                                                                          3,757              3,420             11,989              9,726
    Cash paid for operating leases
                                                                                             10                 81                 99                 81
    Cash paid for income taxes
Supplemental Disclosures of Non-Cash Investing and Financing Activities                                                                                     
                                                                                                                     $         14,618                    $                    $          6,567                    $                    $         39,691                    $                    $          7,792
    Stock-based compensation included in capitalized internal-use software
                                                                                         22,067     --             22,067     --
    Securities retained under unconsolidated securitization transactions
                                                                                                    --            117,023             10,000            117,023
    Issuance of common stock in connection with acquisition
                                                                                          3,421              1,357              3,421             78,421
    Right of use assets obtained in exchange for operating lease liabilities
                                                                                 --     --                107                 24
    Additions to property and equipment included in accrued expenses
                                                                                                    --            202,934     --            270,579
    Issuance of warrants in exchange for commercial agreement

Reconciliation of Non-GAAP Financial Measures

The following tables present a reconciliation of transaction costs, revenue less transaction costs, adjusted operating loss, adjusted operating margin, and equity capital required to their most directly comparable financial measures prepared in accordance with GAAP for each of the periods indicated.

                                                                                                Three Months Ended March 31,                                                                                                       Nine Months Ended March 31,
                                                                                      ----------------------------------------------------------------------------------------------------------------------                            ----------------------------------------------------------------------------------------------------------------------------
                                                                       2022                                                  2021                                                   2022                                                     2021
                                                                                      ------------------------------------------------                        --------------------------------------------------                        --------------------------------------------------                        ------------------------------------------------------
                                                                                                                                                                   (in thousands, except percent data) (unaudited)
Operating Expenses                                                                                                                                                            
                                                                                      $   46,853                        $     62,054                        $    163,796                        $        195,690  
    Loss on loan purchase commitment
                                                                       66,294           (1,063 )                           182,581               40,389  
    Provision for credit losses
                                                                       15,824           14,665           50,277               37,077  
    Funding costs
                                                                       43,371           21,368          110,421               51,668  
    Processing and servicing
                                                                                      -------------------- -------- --------------------                      -------------------- ---------- --------------------                      -------------------- ---------- --------------------                      -------------------- -------------- --------------------
Transaction Costs (Non-GAAP)                                                          $  172,342                        $     97,024                        $    507,075                        $        324,824  
                                                                                      -------------------- -------- --------------------                      -------------------- ---------- --------------------                      -------------------- ---------- --------------------                      -------------------- -------------- --------------------
                                                                      110,291          104,806          283,293              180,208  
    Technology and data analytics
                                                                      156,214           58,184          363,650              119,878  
    Sales and marketing
                                                                      142,466          179,999          419,962              253,188  
    General and administrative
                                                                                      -------------------- -------- --------------------                      -------------------- ---------- --------------------                      -------------------- ---------- --------------------                      -------------------- -------------- --------------------
Total Operating Expenses                                                              $  581,313                        $    440,013                        $  1,573,980                        $        878,098  
                                                                                      -------------------- -------- --------------------                      -------------------- ---------- --------------------                      -------------------- ---------- --------------------                      -------------------- -------------- --------------------
                                                                                                                                                                              
     
Total Revenue                                                                         $  354,762                        $    230,665                        $    985,158                        $        608,684  
                                                                     (172,342 )                           (97,024 )                          (507,075 )                              (324,824 )
    Less: Transaction Costs (Non-GAAP)
                                                                                      -------------------- -------- --------------------                      -------------------- ---------- --------------------                      -------------------- ---------- --------------------                      -------------------- -------------- --------------------
Revenue Less Transaction Costs (Non-GAAP)                                             $  182,420                        $    133,641                        $    478,083                        $        283,860  
                                                                                      -------------------- -------- --------------------                      -------------------- ---------- --------------------                      -------------------- ---------- --------------------                      -------------------- -------------- --------------------
                                                                                                                                                                              
     
Operating Loss                                                                        $ (226,551 )                                         $   (209,348 )                                         $   (588,822 )                                         $       (269,414 )
                                                                       13,102            5,021           35,607               12,092  
    Add: Depreciation and amortization
                                                                       98,387          179,639          280,113              192,363  
    Add: Stock-based compensation included in operating expenses
                                                                      119,039           16,668          223,751               47,968  
    Add: Enterprise warrant and share-based expense
                                                                           25           12,953              303               17,115  
    Add: Other costs(3)
                                                                                      -------------------- -------- --------------------                      -------------------- ---------- --------------------                      -------------------- ---------- --------------------                      -------------------- -------------- --------------------
Adjusted Operating Income (Loss) (Non-GAAP)                                           $    4,002                        $      4,933                        $    (49,048 )                                         $            124  
                                                                                      -------------------- -------- --------------------                      -------------------- ---------- --------------------                      -------------------- ---------- --------------------                      -------------------- -------------- --------------------
                                                                                      $  354,762                        $    230,665                        $    985,158                        $        608,684  
    Divided by: Total Revenue, net
                                                                                      -------------------- -------- --------------------                      -------------------- ---------- --------------------                      -------------------- ---------- --------------------                      -------------------- -------------- --------------------
Adjusted Operating Margin (Non-GAAP)                                      1.1 %                               2.1 %                              (5.0 ) %                      -- %
                                                                                      -------------------- -------- --------------------                      -------------------- ---------- --------------------                      -------------------- ---------- --------------------                      -------------------- -------------- --------------------
                                                                                                                                                           
                                                                                                                                                           
                                                                                                     March 31, 2022                                          June 30, 2022                                           March 31, 2021
                                                                                                                                                              --------------------------------------------------                        --------------------------------------------------                        ------------------------------------------------------
                                                                                                                                                                           (in thousands) (unaudited)
Loans held for investment                                                                                               $  2,502,860                        $  2,022,320                        $      2,195,394  
Add: Loans held for sale                                                                                    3,618           13,030               12,774  
Less: Funding debt                                                                                       (901,233 )                          (680,602 )                              (760,395 )
Less: Notes issued by securitization trusts                                                            (1,447,568 )                        (1,176,673 )                            (1,241,126 )
                                                                                                                                                              -------------------- ---------- --------------------                      -------------------- ---------- --------------------                      -------------------- -------------- --------------------
Equity Capital Required (Non-GAAP)                                                                                      $    157,677                        $    178,075                        $        206,647
                                                                                                                                                              ==================== ========== ====================                      ==================== ========== ====================                      ==================== ==============

(1) Information about Affirm's use of non-GAAP financial measures is provided under "Key Operating Metrics, Non-GAAP Financial Measures and Supplemental Performance Indicators" and "Use of Non-GAAP Financial Measures" below, and reconciliations of GAAP results to non-GAAP results are provided in the tables at the end of this press release.

(2) A reconciliation of adjusted operating margin to the comparable GAAP measure is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, expenses that may be incurred in the future.

(3) Other costs consists of one-time expenses incurred in the period associated with the Company's initial public offering, its acquisitions, and sublease impairment charges.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220512005812/en/

SOURCE: Affirm Holdings, Inc.

Investor Relations
ir@affirm.com

Media
press@affirm.com
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