Affirm Q1 Highlights: Double Beat, Revenue Up 35%, Shares Fall Anyway

Buy now, pay later company Affirm Holdings Inc (NASDAQ:AFRM) reported first-quarter financial results Thursday after market close.

Here are the key highlights.

Affirm Q1 Financials

Affirm reported first-quarter revenue of $1.262 billion, up 35% year-over-year. The revenue total beat a Street consensus estimate of $1.211 billion, according to data from Benzinga Pro.

The company reported first-quarter earnings of 47 cents per share, beating a Street consensus estimate of 38 cents per share.

Gross Merchandise Volume (GMV) was $14.4 billion for the quarter, up 34% year-over-year. This marked the 12th consecutive quarter of GMV being up 30% year-over-year or more.

Direct-to-consumer GMV was $5.1 billion, up 55% year-over-year.

Affirm had 56 million transactions in the quarter, up 34% year-over-year. Active consumers were 28.7 million in the quarter, up 19% year-over-year.

What’s Next for Affirm

The company is guiding for second-quarter revenue in a range of $1.435 billion to $1.465 billion. The Street estimate is $1.43 billion currently.

Gross merchandise volume is expected to be in a range of $17.9 billion to $18.2 billion for the second quarter.

For the full fiscal year, GMV is guided to exceed $65.25 billion. The company sees revenue being around 8.5% of GMV, similar to fiscal 2026. This would translate to revenue of $5.546 billion in fiscal 2027.

Affirm Stock Price Action

Affirm stock is down 9.0% to $63.43 in after-hours trading Thursday versus a 52-week trading range of $42.10 to $90.44.

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