Affirm Holdings, Inc. - AFRM STOCK NEWS

Affirm's recent survey reveals a significant shift in consumer spending for the upcoming holiday season, with 71% of Americans planning to adjust their expenditures. Key findings show that 85% will prioritize physical gifts, 49% intend to spend over $100 on loved ones, and 60% typically exceed their budgets by up to $500. Notably, credit card usage for holiday shopping has drastically declined from 62% to 35%. The survey highlights budgeting stresses and an emphasis on earlier purchasing and discounts, showcasing Affirm's relevance in offering flexible payment solutions.

Affirm (NASDAQ: AFRM) has expanded its partnership with Amazon to Canada, enhancing payment options for customers shopping on Amazon.ca. This new feature, available in both English and French, allows eligible customers to select Affirm during checkout and undergo a quick, soft credit check without affecting their credit score. Customers can split purchases of $50 or more into monthly payments with no hidden fees or late charges. Affirm aims to deliver transparency and flexibility, building on its success in the U.S. market.

INTERMIX has partnered with Affirm to offer flexible payment options for its designer fashion items, enhancing the shopping experience for customers. Eligible shoppers can choose from various payment plans, including interest-free biweekly payments, ensuring transparency with no hidden fees. This collaboration aims to attract more customers to INTERMIX's exclusive offerings both online and in-store. The partnership also positions INTERMIX within Affirm's extensive network of nearly 14 million consumers and 235,000 merchants, promoting growth for both companies.

Affirm Holdings (NASDAQ: AFRM) invites investors to submit questions ahead of a shareholder fireside chat on September 27, 2022, at 11:00 AM Pacific Time. CFO Michael Linford will engage in discussion moderated by Jason Kupferberg from Bank of America. The event will be streamed live on the Company’s investor relations website.

Shareholders can use Say Technologies’ Q&A platform to submit questions until September 26, 2022, at 6:00 AM Pacific Time. A replay will be available post-event.

Affirm's recent consumer spending data reveals a surge in spending as consumers eagerly socialized this summer. Flight spending quintupled compared to last year, while cooking supply expenditures nearly tripled. Average flight and home rental purchases were approximately $700 and $1,560, respectively. Apparel spending increased by 70%, with pet supply purchases averaging over $330. Engagement ring purchases rose 35%, averaging over $2,000. Overall, Affirm's solutions are more in demand amid inflation, helping consumers manage their budgets responsibly.

Affirm Holdings (NASDAQ: AFRM) announced its participation in several upcoming investor conferences. CFO Michael Linford will join a fireside chat at the Deutsche Bank 2022 Technology Conference on September 1, 2022, at 12:30 PM PT in Las Vegas. CEO Max Levchin and CFO Linford will participate in the Goldman Sachs 2022 Communacopia + Technology Conference on September 13, 2022, at 4:30 PM PT in San Francisco. Linford will also feature in a virtual chat at the Autonomous Research Future of Commerce Symposium on September 15, 2022, at 11:30 AM PT, followed by Rob O'Hare at the Moffett Nathanson Digital Banking Immersion Conference on September 23, 2022, at 6:30 AM PT.

Live webcasts will be available on the Company’s investor relations website.

Affirm Holdings reported strong results for Q4 and fiscal year 2022, with GMV soaring 77% year-over-year to $4.4 billion, and total revenue increasing 39% to $364.1 million. Active merchants jumped from 29,000 to 235,000, while active consumers rose 96% to 14 million. However, operating losses widened to $277.2 million, and net losses reached $186.4 million. The company anticipates revenue for Q1 2023 to be between $345 million and $365 million, while the full fiscal year 2023 revenue is expected to be between $1.625 billion and $1.725 billion.

BigCommerce has expanded its multi-year partnership with Affirm, enabling merchants to integrate Affirm’s Adaptive Checkout™ for flexible payment options. Customers can choose bi-weekly or monthly payments on purchases between $50 and $17,500. Key benefits include potential increases in average order values by 85% and cart conversion rates by 26%. Merchants will receive full payment upfront, while Affirm manages payment collections. This partnership aims to enhance consumer affordability and boost merchant sales through greater accessibility to payment options.

Affirm Holdings, Inc. (NASDAQ: AFRM) will host a conference call on August 25, 2022 at 5:00pm ET to discuss its fourth quarter and fiscal year 2022 financial results. CEO Max Levchin and CFO Michael Linford will lead the call, which will be available via webcast on the company's investor relations website. A press release detailing the financial results will also be issued the same day. Affirm's mission centers on offering transparent financial products to enhance consumer lives and drive business growth.