Balance Sheet Affirm Holdings, Inc.

Equities

AFRM

US00827B1061

Financial Technology (Fintech)

Real-time Estimate Cboe BZX Other stock markets 16:49:10 17/01/2025 GMT			5-day change	1st Jan Change
58.82 ^USD	+1.41%		+6.15%	-3.60%

01-08	Wall Street's rate cut dreams wane
01-08	RBC Raises Price Target on Affirm Holdings to $67 From $52, Keeps Sector Perform Rating	MT

bd1aaa3a0ff31839b27e7.VH8OsnetlYJ6AHO0f6ujTGJqI517AAyHvL2EfQurMyA.EBV2gBHP7-hITBrAPe7KFA1TcPcYc23j99HpMlTSXRAcHkaHWtzM7iNYJg

Published financial data: AFFIRM HOLDINGS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: June	2020	2021	2022	2023	2024
Revenues	323M	544M	821M	903M	1.12B
Interest And Invest. Income (Rev)	187M	326M	528M	685M	1.2B
Total Revenues	510M	870M	1.35B	1.59B	2.32B
Cost of Goods Sold, Total	349M	439M	687M	912M	1.33B
Gross Profit	161M	431M	662M	676M	994M
Selling General & Admin Expenses, Total	146M	543M	1.11B	1.22B	1.1B
R&D Expenses	122M	256M	419M	616M	502M
Other Operating Expenses, Total	269M	799M	1.53B	1.84B	1.6B
Operating Income	-108M	-368M	-865M	-1.16B	-607M
Interest Expense, Total	-	-	-	-	-3.4M
Interest And Investment Income	3.9M	-	-	-	-
Net Interest Expenses	3.9M	-	-	-	-3.4M
Other Non Operating Income (Expenses)	-8.33M	1.46M	231M	114M	105M
EBT, Excl. Unusual Items	-112M	-366M	-635M	-1.05B	-506M
Restructuring Charges	-	-	-	-35.87M	-6.77M
Merger & Related Restructuring Charges	-	-	-600K	-1.8M	-
Impairment of Goodwill	-	-	-	-	-1M
Gain (Loss) On Sale Of Investments	-	1.6M	-	-	-14.1M
Asset Writedown	-	-11.54M	-362K	-1.24M	-752K
Other Unusual Items	-	-57.13M	-89.31M	98.01M	12.64M
EBT, Incl. Unusual Items	-112M	-433M	-725M	-989M	-516M
Income Tax Expense	376K	-2.34M	-17.41M	-3.9M	2.23M
Earnings From Continuing Operations	-113M	-431M	-707M	-985M	-518M
Net Income to Company	-113M	-431M	-707M	-985M	-518M
Net Income - (IS)	-113M	-431M	-707M	-985M	-518M
Preferred Dividend and Other Adjustments	13.2M	-	-	-	-
Net Income to Common Incl Extra Items	-126M	-431M	-707M	-985M	-518M
Net Income to Common Excl. Extra Items	-126M	-431M	-707M	-985M	-518M
Per Share Items
Net EPS - Basic	-2.63	-2.72	-2.51	-3.34	-1.67
Basic EPS - Continuing Operations	-2.63	-2.72	-2.51	-3.34	-1.67
Basic Weighted Average Shares Outstanding	47.86M	158M	282M	295M	310M
Net EPS - Diluted	-2.63	-2.88	-2.51	-3.34	-1.67
Diluted EPS - Continuing Operations	-2.63	-2.88	-2.51	-3.34	-1.67
Diluted Weighted Average Shares Outstanding	47.86M	159M	282M	295M	310M
Normalized Basic EPS	-1.47	-1.45	-1.41	-2.22	-1.02
Normalized Diluted EPS	-1.47	-1.44	-1.41	-2.22	-1.02
Supplemental Items
EBITDA	-98.35M	-279M	-716M	-942M	-365M
EBITA	-108M	-294M	-745M	-1.02B	-513M
EBIT	-108M	-368M	-865M	-1.16B	-607M
EBITDAR	-84.75M	-263M	-703M	-926M	-358M
Total Revenues (As Reported)	510M	870M	1.35B	1.59B	2.32B
Effective Tax Rate - (Ratio)	-0.34	0.54	2.4	0.39	-0.43
Current Domestic Taxes	351K	-10K	145K	759K	1.44M
Current Foreign Taxes	436K	-410K	230K	408K	392K
Total Current Taxes	787K	-420K	375K	1.17M	1.83M
Deferred Domestic Taxes	34K	-2.48M	394K	386K	472K
Deferred Foreign Taxes	-445K	559K	-18.18M	-5.45M	-76K
Total Deferred Taxes	-411K	-1.92M	-17.79M	-5.07M	396K
Normalized Net Income	-70.14M	-229M	-397M	-655M	-316M
Supplemental Operating Expense Items
Advertising Expense	-	48.1M	74M	22.6M	19.2M
Selling and Marketing Expenses	25.04M	184M	606M	661M	576M
General and Administrative Expenses	121M	359M	503M	561M	524M
Research And Development Expense From Footnotes	122M	256M	419M	616M	502M
Net Rental Expense, Total	13.6M	15.3M	12.5M	15.55M	6.95M
Imputed Operating Lease Interest Expense	-	-	-	-	31.3K
Imputed Operating Lease Depreciation	-	-	-	-	6.92M
Stock-Based Comp., COGS (Total)	82K	2.41M	2.43M	4.48M	3.21M
Stock-Based Comp., R&D Exp. (Total)	12.28M	83.39M	117M	181M	96.6M
Stock-Based Comp., S&M Exp. (Total)	4.04M	19.18M	23.22M	25.91M	16.37M
Stock-Based Comp., G&A Exp. (Total)	13.68M	183M	249M	240M	228M
Total Stock-Based Compensation	30.09M	288M	391M	452M	345M

Fiscal Period: June	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	267M	1.47B	1.26B	892M	1.01B
Short Term Investments	-	-	300M	97.22M	69.68M
Total Cash And Short Term Investments	267M	1.47B	1.56B	989M	1.08B
Accounts Receivable, Total	59M	91.58M	142M	199M	353M
Other Receivables	3.17M	26.42M	17.22M	-	18.26M
Notes Receivable	-	16.17M	-	-	-
Total Receivables	62.17M	134M	159M	199M	371M
Prepaid Expenses	6.41M	132M	72.67M	35.63M	50.19M
Loans Held For Sale	4.46M	13.03M	2.67M	76K	36K
Restricted Cash	61.07M	226M	296M	368M	282M
Total Current Assets	401M	1.97B	2.09B	1.59B	1.79B
Gross Property Plant And Equipment	65.79M	153M	282M	444M	692M
Accumulated Depreciation	-17.65M	-32.9M	-60.34M	-124M	-242M
Net Property Plant And Equipment	48.14M	120M	222M	320M	450M
Long-term Investments	939M	1.92B	3.69B	5.32B	6.51B
Goodwill	-	517M	540M	543M	533M
Other Intangibles, Total	-	67.93M	78.94M	34.43M	13.5M
Deferred Tax Assets Long-Term	-	-	-	-	21.21M
Other Long-Term Assets, Total	13.77M	274M	361M	347M	202M
Total Assets	1.4B	4.87B	6.97B	8.16B	9.52B
Liabilities
Accounts Payable, Total	18.36M	57.76M	33.07M	28.6M	41.02M
Accrued Expenses, Total	17.95M	50.42M	74M	64.2M	83.94M
Short-term Borrowings	74.22M	-	-	-	-
Current Portion of Leases	-	-	-	16.5M	16.74M
Other Current Liabilities	-	-	-	53.27M	17.64M
Total Current Liabilities	111M	108M	107M	163M	159M
Long-Term Debt	843M	1.91B	4.08B	5.4B	6.57B
Long-Term Leases	-	74.95M	65.71M	36.06M	22.75M
Other Non Current Liabilities	11.72M	195M	105M	24.36M	30.68M
Total Liabilities	965M	2.29B	4.36B	5.62B	6.79B
Preferred Stock Convertible	804M	-	-	-	-
Total Preferred Equity	804M	-	-	-	-
Common Stock, Total	80.37M	3K	3K	3K	3K
Additional Paid In Capital	-	3.46B	4.23B	5.14B	5.86B
Retained Earnings	-447M	-888M	-1.61B	-2.59B	-3.11B
Comprehensive Income and Other	-302K	6.77M	-7.15M	-15.42M	-21.56M
Total Common Equity	-367M	2.58B	2.62B	2.53B	2.73B
Total Equity	437M	2.58B	2.62B	2.53B	2.73B
Total Liabilities And Equity	1.4B	4.87B	6.97B	8.16B	9.52B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	47.68M	272M	289M	299M	311M
ECS Total Common Shares Outstanding	47.68M	269M	287M	297M	311M
Book Value / Share	-7.7	9.58	9.11	8.54	8.78
Tangible Book Value	-367M	2B	2B	1.96B	2.19B
Tangible Book Value Per Share	-7.7	7.41	6.96	6.59	7.02
Total Debt	917M	1.98B	4.14B	5.45B	6.61B
Net Debt	650M	516M	2.59B	4.46B	5.53B
Debt Equivalent Oper. Leases	109M	122M	100M	124M	55.59M
Account Code - Inventory Valuation	3	3	-	3	3
Machinery, Total	8.7M	11.99M	15.03M	16.69M	18.74M
Full Time Employees	893	1.64K	2.55K	2.17K	2.01K
Accumulated Allowance for Doubtful Accounts (Supple)	-	4.1M	13.9M	12.9M	14.9M

Fiscal Period: June	2020	2021	2022	2023	2024
Net Income	-113M	-431M	-707M	-985M	-518M
Depreciation & Amortization - CF	9.44M	15.38M	29.22M	82.13M	148M
Amortization of Goodwill and Intangible Assets - (CF)	-	73.7M	120M	138M	93.87M
Depreciation & Amortization, Total	9.44M	89.08M	149M	220M	242M
Amortization of Deferred Charges, Total - (CF)	2.31M	6.42M	16.15M	20.54M	24.55M
(Gain) Loss From Sale Of Asset	-59.51M	-89.93M	-196M	-188M	-197M
(Gain) Loss on Sale of Investments - (CF)	-	-	2.19M	-36.06M	-22.8M
Asset Writedown & Restructuring Costs	-	11.54M	362K	-14.64M	-2.02M
Net (Increase) Decrease in Loans Originated / Sold - Operating	-79.54M	-45.9M	29.37M	-	-
Provision for Credit Losses	105M	65.88M	-	-	-
Stock-Based Compensation (CF)	29.62M	288M	391M	452M	345M
Provision and Write-off of Bad Debts	-	-	255M	332M	461M
Other Operating Activities, Total	2.93M	-33.59M	-92.23M	182M	181M
Change In Accounts Receivable	-19.05M	-22.93M	-62.7M	-67.69M	-168M
Change In Accounts Payable	7.51M	32.22M	-24.69M	-5.04M	12.42M
Change in Other Net Operating Assets	42.51M	-63.04M	77.48M	103M	92.38M
Cash from Operations	-71.3M	-193M	-162M	12.18M	450M
Capital Expenditure	-21.02M	-20.25M	-86.29M	-121M	-159M
Cash Acquisitions	-	-222M	-6M	-16.05M	-
Sale (Purchase) of Intangible assets	-	-	-25.42M	-	-
Investment in Marketable and Equity Securities, Total	-	-	-1.53B	455M	151M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-232M	-749M	-342M	-1.98B	-1.28B
Other Investing Activities, Total	-	-30.72M	-21.43M	3.71M	-34M
Cash from Investing	-253M	-1.02B	-2.01B	-1.65B	-1.33B
Long-Term Debt Issued, Total	2.21B	4.34B	6.8B	8.04B	14.99B
Total Debt Issued	2.21B	4.34B	6.8B	8.04B	14.99B
Long-Term Debt Repaid, Total	-1.88B	-3.38B	-4.64B	-6.61B	-13.89B
Total Debt Repaid	-1.88B	-3.38B	-4.64B	-6.61B	-13.89B
Issuance of Common Stock	2.73M	1.35B	73.91M	15.77M	33.12M
Repurchase of Common Stock	-18.85M	-159M	-185M	-73.95M	-189M
Issuance of Preferred Stock	15.48M	435M	-	-	-
Repurchase of Preferred Stock	-22.59M	-13K	-	-	-
Other Financing Activities, Total	-7.69M	-12.5M	-13.75M	-22.44M	-27.3M
Cash from Financing	295M	2.58B	2.04B	1.35B	913M
Foreign Exchange Rate Adjustments	-	1.84M	-5.41M	81K	-2.68M
Net Change in Cash	-29.64M	1.36B	-142M	-291M	35.46M
Supplemental Items
Cash Interest Paid	28.08M	41.69M	51.52M	163M	318M
Cash Income Tax Paid (Refund)	-	219K	220K	808K	1.19M
Levered Free Cash Flow	-72.88M	-166M	-138M	-296M	-2.86M
Unlevered Free Cash Flow	-75.19M	-173M	-154M	-317M	-25.28M
Change In Net Working Capital	26.34M	300M	41.91M	142M	73.03M
Net Debt Issued / Repaid	326M	963M	2.16B	1.43B	1.1B

Fiscal Period: June	2020	2021	2022	2023	2024
Profitability
Return on Assets	-5.28	-7.33	-9.13	-9.6	-4.3
Return on Total Capital	-5.44	-7.77	-9.55	-9.85	-4.38
Return On Equity %	-23.17	-28.55	-27.24	-38.25	-19.66
Return on Common Equity	39.91	-38.93	-27.24	-38.25	-19.66
Margin Analysis
Gross Profit Margin %	31.57	49.56	49.09	42.54	42.81
SG&A Margin	28.71	62.38	82.18	76.93	47.35
EBITDA Margin %	-19.3	-32	-53.04	-59.31	-15.72
EBITA Margin %	-21.15	-33.77	-55.2	-64.48	-22.1
EBIT Margin %	-21.15	-42.24	-64.11	-73.17	-26.14
Income From Continuing Operations Margin %	-22.1	-49.5	-52.43	-62.05	-22.29
Net Income Margin %	-22.1	-49.5	-52.43	-62.05	-22.29
Net Avail. For Common Margin %	-24.69	-49.5	-52.43	-62.05	-22.29
Normalized Net Income Margin	-13.77	-26.29	-29.39	-41.26	-13.6
Levered Free Cash Flow Margin	-14.3	-19.09	-10.21	-18.65	-0.12
Unlevered Free Cash Flow Margin	-14.76	-19.82	-11.4	-19.95	-1.09
Asset Turnover
Asset Turnover	0.4	0.28	0.23	0.21	0.26
Fixed Assets Turnover	12.46	10.33	7.88	5.85	6.03
Receivables Turnover (Average Receivables)	6.32	7.23	7.03	5.29	4.05
Short Term Liquidity
Current Ratio	3.63	18.23	19.48	9.79	11.21
Quick Ratio	2.98	14.65	16.02	7.31	9.13
Operating Cash Flow to Current Liabilities	-0.65	-1.79	-1.51	0.07	2.82
Days Sales Outstanding (Average Receivables)	57.88	50.51	51.91	68.96	90.32
Average Days Payable Outstanding	15.33	31.64	24.13	12.33	9.59
Long Term Solvency
Total Debt/Equity	209.84	76.8	158.27	215.1	242.11
Total Debt / Total Capital	67.72	43.44	61.28	68.26	70.77
LT Debt/Equity	192.86	76.8	158.27	214.45	241.49
Long-Term Debt / Total Capital	62.24	43.44	61.28	68.06	70.59
Total Liabilities / Total Assets	68.83	46.97	62.46	68.93	71.3
EBIT / Interest Expense	-	-	-	-	-178.63
EBITDA / Interest Expense	-	-	-	-	-105.37
(EBITDA - Capex) / Interest Expense	-	-	-	-	-152.22
Total Debt / EBITDA	-9.33	-7.53	-5.89	-5.89	-18.46
Net Debt / EBITDA	-6.61	-1.96	-3.68	-4.82	-15.44
Total Debt / (EBITDA - Capex)	-7.68	-6.99	-5.25	-5.21	-12.78
Net Debt / (EBITDA - Capex)	-5.45	-1.82	-3.28	-4.26	-10.69
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	92.74	70.84	55.01	17.69	46.29
Gross Profit, 1 Yr. Growth %	195.73	168.19	53.48	1.97	47.22
EBITDA, 1 Yr. Growth %	-19.5	183.25	156.83	31.54	-61.22
EBITA, 1 Yr. Growth %	-15.42	172.7	153.33	37.4	-49.85
EBIT, 1 Yr. Growth %	-15.42	241.08	135.25	34.26	-47.73
Earnings From Cont. Operations, 1 Yr. Growth %	-6.52	282.71	60.4	39.29	-47.45
Net Income, 1 Yr. Growth %	-6.52	282.71	60.4	39.29	-47.45
Normalized Net Income, 1 Yr. Growth %	-9.29	237.75	73.27	28.86	-51.4
Diluted EPS Before Extra, 1 Yr. Growth %	-7.51	9.56	-14.72	33	-49.92
Accounts Receivable, 1 Yr. Growth %	36.89	55.21	55.12	40.15	77.33
Net Property, Plant and Equip., 1 Yr. Growth %	43.08	149.95	84.62	44.18	40.35
Total Assets, 1 Yr. Growth %	22.09	247.08	43.29	16.95	16.72
Tangible Book Value, 1 Yr. Growth %	39.36	-638.42	0.44	-2.13	11.64
Common Equity, 1 Yr. Growth %	39.36	-803.13	1.66	-3.21	7.81
Cash From Operations, 1 Yr. Growth %	-18.65	170.86	-16.02	-107.51	3.6K
Capital Expenditures, 1 Yr. Growth %	8.31	-3.65	326.08	39.96	31.89
Levered Free Cash Flow, 1 Yr. Growth %	-	127.97	-5.39	895.64	-99.13
Unlevered Free Cash Flow, 1 Yr. Growth %	-	129.49	1.24	590.04	-92.74
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	81.46	62.73	35.07	31.21
Gross Profit, 2 Yr. CAGR %	-	181.62	102.93	25.1	22.53
EBITDA, 2 Yr. CAGR %	-	51	169.75	82.41	-28.61
EBITA, 2 Yr. CAGR %	-	51.87	162.87	85.23	-17.03
EBIT, 2 Yr. CAGR %	-	69.85	183.3	76.71	-16.26
Earnings From Cont. Operations, 2 Yr. CAGR %	-	89.14	150.65	49.47	-14.45
Net Income, 2 Yr. CAGR %	-	89.14	150.65	49.47	-14.45
Normalized Net Income, 2 Yr. CAGR %	-	74.38	137.79	55.81	-16.49
Diluted EPS Before Extra, 2 Yr. CAGR %	-	0.68	-2.28	6.59	-18.43
Accounts Receivable, 2 Yr. CAGR %	-	45.76	55.17	47.45	57.65
Net Property, Plant and Equip., 2 Yr. CAGR %	-	89.11	114.82	63.16	42.25
Total Assets, 2 Yr. CAGR %	-	105.86	123.01	29.45	16.84
Tangible Book Value, 2 Yr. CAGR %	-	175.32	132.22	-0.86	4.53
Common Equity, 2 Yr. CAGR %	-	213.03	167.06	-0.81	2.15
Cash From Operations, 2 Yr. CAGR %	-	48.44	50.82	-74.89	66.59
Capital Expenditures, 2 Yr. CAGR %	-	2.16	102.62	144.2	35.87
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	37.46	41.33	-69.94
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	43.04	43.09	-26.09
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %