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.
Affirm (NASDAQ: AFRM) has partnered with American Airlines to allow eligible travelers to book flights on AA.com and pay over time through Affirm's payment plan.
Starting now, travelers can split flight costs into monthly payments without hidden fees or late charges. This initiative caters to consumers prioritizing travel while managing budgets, especially during the holiday season.
According to a recent survey, 74% of Americans plan to spend more on travel this year, highlighting the demand for flexible payment options.
Affirm (NASDAQ: AFRM) has expanded its payment options, allowing consumers to purchase Theory's sportswear and accessories in four biweekly interest-free payments with no hidden fees. Customers spending over $50 can benefit from this flexible payment method, enhancing their shopping experience on theory.com. This partnership aims to increase sales and customer retention, with merchants using Affirm reporting 85% higher average order values. Affirm's mission focuses on providing transparent financial products that empower consumer spending.
Affirm (NASDAQ: AFRM) has launched Adaptive Checkout, a feature that offers a variety of personalized payment options at checkout. Merchants using this service reported significant increases in sales metrics: a 26% rise in cart conversion, 22% lift in approvals, and 20% boost in sales compared to standard monthly payment offerings. This solution tailors payment options based on transaction size and real-time underwriting, reinforcing Affirm's commitment to transparency by ensuring no hidden fees for consumers.
The first Affirm Consumer Spend Report reveals that 70% of Americans typically exceed their holiday budget, with nearly half planning to spend more this year due to prior celebrations being limited. Over half intend to prioritize experiences over gifts, with 42% favoring memorable experiences as gifts. Financial concerns are prevalent, with 41% worried about budgeting. A majority (61%) have started shopping earlier than Black Friday to manage expenses. Affirm's flexible payment solutions are gaining traction, with 56% interested in their options to help maintain financial discipline.
Affirm Holdings (NASDAQ:AFRM) reported a significant acceleration in its fourth quarter of fiscal year 2021 with GMV growth of 106% and total revenue growth of 71% year-over-year. Active consumers increased by 97%, reaching 7.1 million, while active merchants surged by 412% to nearly 29,000. Despite the success, the company faced an operating loss of $124.7 million and a net loss of $128.2 million due to increased stock-based compensation post-IPO. For fiscal year 2022, Affirm forecasts GMV growth of at least 50%, aiming to capitalize on partnerships with major players like Amazon.
Affirm Holdings (NASDAQ: AFRM) announced that CFO Michael Linford will participate in a virtual fireside chat at the Deutsche Bank Technology Conference on September 10, 2021, at 10:00 am ET. The discussion will be streamed live on the company’s investor relations website. A replay will be available afterward. Affirm is dedicated to providing transparent financial products that empower consumers to manage spending and saving responsibly.
Affirm (NASDAQ: AFRM) announced a partnership with Amazon to integrate its flexible payment solution at Amazon.com. Currently being tested with select customers, Affirm's service allows purchases of $50 or more to be split into monthly payments, providing upfront total costs without hidden fees. Eric Morse, Senior VP of Sales at Affirm, emphasized the benefits of transparency and affordability for consumers. The partnership aims to enhance payment choices for Amazon shoppers, potentially increasing Affirm's customer base and sales.
Affirm Holdings (NASDAQ: AFRM) has completed a $500 million securitization of its point-of-sale installment loans, marking its most successful issuance to date. This securitization is Affirm's third for 2021 and sixth overall since launching its program in July 2020. Chief Financial Officer Michael Linford emphasized the strong investor demand and the flexible capital strategy that positions Affirm for future growth. The offering comprised five classes of fixed-rate notes, all rated by DBRS-Morningstar, with the notes placed in a private offering.
Affirm Holdings (NASDAQ: AFRM) will host a conference call on September 9, 2021, at 5:00 PM ET to discuss its fourth quarter and full fiscal year 2021 financial results. The call will feature CEO Max Levchin and CFO Michael Linford. A press release with the financial results will be issued after market close on the same day. The call will be available for live streaming on Affirm's investor relations website, with a replay accessible afterward.
Affirm Holdings (NASDAQ: AFRM) announced that CFO Michael Linford will participate in a virtual fireside chat at the RBC Capital Markets Financial Technology Conference on June 17, 2021, starting at 1:20 PM ET. The event will be streamed live on the company's investor relations website, with a replay available afterwards. Affirm is committed to providing financial products that enhance consumer confidence and merchant growth in digital commerce.
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