Latest Quarterly Report
Filed: 2026-02-05
Key Insights
- Affirm's revenue and user growth slowed significantly in Q4 2025, raising concerns about the company's long-term profitability and competitive position.
- The company continues to face elevated credit losses, with over 20% of its loans being 30+ days past due, suggesting potential challenges in its underwriting practices.
- Affirm's reliance on securitization funding, coupled with rising interest rates, may put pressure on its margins and ability to offer competitive financing options to merchants and consumers.