Affirm Holdings, Inc. - AFRM STOCK NEWS

Affirm launches a campaign to enhance post-pandemic travel accessibility. Throughout June, consumers can submit travel photos for a chance to win $5,000 towards their next vacation, with a total prize pool of $155,000. Notable figures like Henry Golding and Nina Dobrev are endorsing the initiative. Users who book travel through Affirm can take advantage of flexible payment options, with APRs as low as 0%, helping to lessen the financial burden of travel costs. Affirm aims to meet the growing demand for travel while maintaining transparency in payment structures.

Affirm Holdings reported strong Q3 fiscal 2021 results, with gross merchandise volume (GMV) soaring 83% to $2.3 billion. Active consumers increased by 60% year-over-year to 5.4 million, while active merchants more than doubled to nearly 12,000. Total revenue reached $230.7 million, marking a 67% increase. Despite a net loss of $247.2 million due to elevated stock-based compensation post-IPO, Affirm's growth trajectory remains positive. The company expects continued momentum, raising its fiscal 2021 outlook for revenue and GMV.

Affirm Holdings, Inc. (NASDAQ:AFRM) has successfully completed the acquisition of Returnly, a company recognized for enhancing online return experiences and facilitating post-purchase payments. Affirm's CEO, Max Levchin, highlighted this move as a strategic growth opportunity to enhance customer interactions and satisfaction. Returnly has processed over $1 billion in returns for more than 1,800 merchants, serving eight million shoppers. This acquisition is anticipated to have no significant impact on Affirm's fiscal year 2021 results, with third-quarter financial results set to be reported on May 10, 2021.

Affirm Holdings (NASDAQ: AFRM) will participate virtually in two investor conferences. On May 11, 2021, CFO Michael Linford will engage in a fireside chat at the MoffettNathanson Payments Summit at 10:00 AM ET. The following week, on May 19, he will participate in a similar chat at the Barclays Emerging Payments and Fintech Forum at 8:40 AM ET. Both discussions will be webcast live on the company’s investor relations website, with replays available shortly after the events.

Affirm Holdings (NASDAQ: AFRM) will host a conference call on May 10, 2021, at 5:00 PM ET to discuss third-quarter fiscal results for 2021. CEO Max Levchin and CFO Michael Linford will lead the call, which can be accessed via the company's investor website. A press release detailing the financial results will be issued after market close on the same day. Affirm aims to provide transparent financial products that enhance consumer confidence and support merchant growth.

Affirm has entered a partnership with Ulla Johnson, enabling eligible customers to shop the designer’s collection using Affirm's payment options. Customers can split purchases over $50 into biweekly or monthly payments with rates starting from 0% APR, ensuring no hidden fees. Affirm's partnerships with over 7,900 merchants have shown significant sales increases; merchants reported an 85% rise in average order values in 2019 compared to other payment methods. This initiative enhances customer experience by offering a transparent payment solution.

Affirm Holdings (NASDAQ:AFRM) has announced a definitive agreement to acquire Returnly for approximately $300 million in cash and equity. Returnly enhances the online return experience for over 1,800 merchants, processing more than $1 billion in returns for over eight million shoppers. The acquisition is positioned to streamline returns, allowing consumers to receive instant merchant credit upon return initiation. This move aligns with increasing consumer expectations for seamless online shopping experiences, especially as online returns have surged.

Affirm Holdings announced a partial early lock-up release for Class A common stock shares following the achievement of certain share price conditions on February 26, 2021. As a result, up to 15.6 million shares will be available for sale starting March 3, 2021. This release pertains to 10% of the shares from specific lock-up agreements involving directors and large stockholders. However, the remaining shares will still be subject to the lock-up agreements.

Affirm Holdings (NASDAQ: AFRM) announced the launch of the Affirm Card, a U.S. debit card allowing users to pay upfront or convert eligible transactions into pay-over-time options. This initiative targets the growing consumer interest in buy-now-pay-later (BNPL) services and the shift toward debit cards. The card will have no late fees or hidden charges. Affirm plans to make the card available later this year and invites consumers to join the waitlist for early access.