Welcome to our dedicated page for Affirm Holdings news (Ticker: AFRM), a resource for investors and traders seeking the latest updates and insights on Affirm Holdings stock.
Affirm Holdings, Inc. (NASDAQ: AFRM), founded in 2012, is a leader in the Buy Now, Pay Later (BNPL) sector in the United States. The company offers innovative financial technology services that allow consumers to make purchases both online and in-store with flexible payment plans. Affirm's platform is designed for digital and mobile-first commerce, providing a transparent and user-friendly point-of-sale payment solution. It also offers a consumer-focused app and merchant commerce solutions. Affirm is partnered with nearly 235,000 merchants and serves approximately 14 million customers, primarily generating revenue through merchant networks and virtual card networks.
Affirm stands out by showing customers the total cost of their purchase upfront, without any hidden fees or late charges. This commitment to transparency and trust has helped it expand its services to prominent partners like Walmart, where eligible consumers can pay over time at over 4,500 stores, including Walmart Vision and Auto Centers.
Recently, Affirm has announced a partnership with Evolve, a leading vacation rental hospitality company, allowing travelers to book vacation rentals and pay over time with simple monthly payments. This aligns with Affirm’s mission to offer honest financial products that improve lives by enabling consumers to spend and save responsibly.
Affirm has also expanded its services to Canada through a partnership with FlightHub, allowing Canadian travelers to pay over time for their trips. Further, the company introduced new payment options, Pay in 2 and Pay in 30, to offer greater flexibility to consumers completing smaller transactions under $150.
Affirm's mission is to build a new kind of payment network based on trust, transparency, and putting people first. The company is dedicated to empowering consumers and providing merchants with the tools to drive growth. Affirm's commitment to honesty and customer satisfaction continues to set it apart in the financial technology sector.
WooCommerce has designated Affirm (AFRM) as a leading pay-over-time provider, expanding their decade-long partnership. The integration will make Affirm a default payment option for merchants using WooPayments across the U.S. and Canada. Merchants will soon be able to offer Affirm's customized pay-over-time plans, including the new Pay in 30 offering alongside existing biweekly and monthly installment options.
WooCommerce reported a 45% increase in merchants using Affirm this year, with higher average order values for merchants using Affirm compared to those who don't. The partnership aims to expand Affirm's reach particularly among small and midsized businesses, offering consumers flexible payment plans without late fees or compound interest.
Affirm (NASDAQ: AFRM) has expanded its partnership with Adyen, becoming the first Buy Now, Pay Later (BNPL) provider to support Adyen for Platforms. The expansion brings Affirm's monthly installments to Adyen merchants in Canada and extends BNPL services to platform businesses like peer-to-peer marketplaces and crowdfunding platforms.
The partnership, launched in November 2020, has seen average annual volume increase by more than seven times from 2021 to 2023. Affirm offers consumers flexible payment plans ranging from six weeks to 36 months with 0% APR options and no late or hidden fees. Notable success includes AffiniPay, which has processed over $125 million in payments through Affirm's Pay Later solution.
Affirm Holdings (NASDAQ: AFRM) has priced an upsized private offering of $800 million 0.75% Convertible Senior Notes due 2029. The notes will bear interest at 0.75% annually, payable semiannually, and mature on December 15, 2029. The initial conversion rate is 9.8992 shares per $1,000 principal amount, equivalent to approximately $101.02 per share, representing a 42.5% premium.
The company expects net proceeds of approximately $785.2 million, which will be used along with cash on hand to repurchase about $960 million of its 2026 notes for $892.8 million. Additionally, Affirm plans to repurchase 3,526,590 shares of Class A common stock for approximately $250 million at $70.89 per share.
Affirm Holdings (NASDAQ: AFRM) announced plans to offer $750 million in Convertible Senior Notes due 2029 through a private offering, with an option for initial purchasers to buy an additional $112.5 million. The company intends to use the proceeds to repurchase a portion of its 2026 notes and up to $300 million of its Class A common stock. The Notes will mature on December 15, 2029, and will be convertible under specified conditions. Upon conversion, Affirm will pay cash up to the principal amount and may deliver additional consideration in cash, stock, or a combination thereof.
Affirm Holdings (NASDAQ: AFRM) has secured its largest capital commitment to date through a partnership with Sixth Street. The three-year forward flow agreement enables Sixth Street to invest up to $4 billion in purchasing Affirm loans through an AssetCo structure, potentially supporting over $20 billion in loans over the next three years.
As of September 30, 2024, Affirm's total funding capacity reached $16.8 billion, representing more than 50% growth over two years. The company serves over 19 million active consumers and generated more than $28 billion in gross merchandise volume (GMV) for the twelve months ending September 30, 2024. Affirm maintains diverse funding channels including warehouse facilities, forward flow agreements, and asset-backed securitizations, working with over 130 distinct investors.
Affirm Holdings (NASDAQ: AFRM) has announced a shareholder fireside chat featuring CFO Rob O'Hare, scheduled for December 13, 2024 at 11:00 AM Eastern Time. The event will be moderated by Bryan Keane from Deutsche Bank and webcast live on Affirm's investor relations website.
Shareholders can participate by submitting and upvoting questions through Say Technologies' platform, which will be open from December 3, 2024 at 4:00 PM ET until December 12, 2024 at 8:00 AM ET. The discussion will focus on Affirm's strategy, products, business model, and financial results.
Affirm Holdings (NASDAQ: AFRM) and PGIM Fixed Income, a Prudential Financial company, announced the completion of a $500 million private purchase of Affirm loans. This transaction deepens their partnership, with PGIM Fixed Income managing over $120 billion in assets across public and private securitized credit. Previously, PGIM invested in Affirm’s public asset-backed securitizations. Affirm has issued 21 securitizations totaling nearly $10 billion, involving over 130 capital partners. PGIM sees Affirm’s assets as an attractive investment opportunity, enhancing its origination relationships. Affirm empowers 19 million active consumers and generated over $28 billion in GMV for the last twelve months ending September 30, 2024. Its funding capacity has grown by 50% over the last two years to $16.8 billion as of September 30, 2024.
Affirm (NASDAQ: AFRM) has expanded its merchant network with new partnerships including Agape Diamonds, Ever/body, Garmin, and Living Spaces ahead of the holiday season. The company's global network now exceeds 320,000 merchant partners, marking a 20% year-over-year increase. During Black Friday Cyber Monday, Affirm saw a 40-50% year-over-year increase in electronics and travel categories. The payment network is now integrated with over 60% of US e-commerce, offering flexible payment options including 0% APR financing through various channels including the Affirm Card, App, and digital wallets.
According to new research by Affirm, Canadian consumers are adopting a strategic approach to holiday shopping rather than cutting back. 71% of Canadians plan to maintain or increase their spending, with 77% embracing 'slow shopping' - taking more time to evaluate purchases. 59% plan to complete their shopping on or after Black Friday, focusing on meaningful purchases and best deals. The study reveals that 48% of consumers are choosing flexible payment options for better budgeting, while 42% appreciate 0% APR offers. Nearly 40% value 0% APR financing as much as or more than traditional discounts.
JD Sports has partnered with Affirm (NASDAQ: AFRM) to offer flexible payment options across its 500+ JD Sports and Finish Line locations nationwide. Customers can now pay for brands like Nike, adidas, New Balance, and North Face in biweekly or monthly installments, with as low as 0% APR and no hidden fees. The partnership comes ahead of Black Friday and Cyber Monday, following Affirm's reported 50% year-over-year increase in sporting goods purchases in October. Customers can access the payment option both in-store via QR code and online through the Affirm app.
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