NASDAQ$AFRM
Affirm · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Affirm delivered strong results, exceeding expectations across all metrics and demonstrating growth and profitability.
Affirm reported strong Q1 2024 results, with GMV growth accelerating to 28% year-over-year and total revenue increasing by 37% year-over-year. The company exceeded its outlook for Revenue Less Transaction Costs (RLTC) and achieved record adjusted operating income. Affirm also saw growth in active consumers and the Affirm Card program.
- GMV grew 28% year-over-year to $5.6 billion, driven by strong demand at enterprise platform partners and growth in Affirm Card and virtual cards.
- Total revenue increased 37% year-over-year to $497 million, driven by higher interest income and network revenue.
- Adjusted operating income was $60 million, representing a 12% adjusted operating margin, the highest in Affirm's history.
- Active consumer count grew 15% year-over-year to 16.9 million.
Headline financials
Revenue & EPS history
Affirm · Revenue · Quarterly
$497M
Forward guidance
Affirm provided financial outlook for the full year FY'24 and the second fiscal quarter of 2024, considering the current macroeconomic conditions.
Tailwinds
- GMV of more than $24.25 billion for FY'24
- Revenue as a percentage of GMV similar to FY'23
- Revenue Less Transaction Costs as a percentage of GMV similar to FY'23
- Adjusted Operating Margin of more than 5 percent for FY'24
- Weighted Average Shares Outstanding of 311 million for FY'24
Headwinds
- GMV between $6.70 to $6.90 billion for Fiscal Q2 2024
- Revenue between $495 to $520 million for Fiscal Q2 2024
- Transaction Costs between $310 to $320 million for Fiscal Q2 2024
- Revenue Less Transaction Costs between $185 to $200 million for Fiscal Q2 2024
- Adjusted Operating Margin between 2 to 4 percent for Fiscal Q2 2024
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.6%
Avg return
Earnings day
+2.3%
Avg return
5 days after
+1.4%
Avg return
30 days after
35%
9 / 26 earnings
Positive
+62.1%
Q3 2022
Best reaction
-37.7%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -1.2% | -6.2% | -5.6% | |
| Q2 2026 | -4.0% | -4.8% | -13.0% | |
| Q1 2026 | +11.7% | +19.7% | +3.1% | |
| Q3 2025 | -14.7% | +4.2% | +8.6% | |
| Q2 2025 | +21.8% | +22.5% | -15.8% | |
| Q1 2025 | -7.0% | +15.2% | +43.8% | |
| Q4 2024 | +28.1% | +35.4% | +26.6% | |
| Q3 2024 | -0.3% | -8.3% | -13.9% | |
| Q2 2024 | -1.7% | -10.9% | -13.1% | |
| Q1 2024 | +12.5% | +3.6% | +90.4% | |
| Q4 2023 | +22.6% | +32.0% | +39.1% | |
| Q3 2023 | +2.6% | +1.1% | +57.9% | |
| Q2 2023 | -22.8% | -26.2% | -39.7% | |
| Q1 2023 | -22.6% | +8.8% | -25.7% | |
| Q4 2022 | -18.7% | -22.1% | -36.2% | |
| Q3 2022 | +62.1% | +72.5% | +39.7% | |
| Q2 2022 | -37.7% | -40.0% | -58.7% | |
| Q1 2022 | -3.8% | -6.2% | -27.3% | |
| Q4 2019 | -8.4% | -3.0% | +24.8% | |
| Q4 2021 | +41.3% | +23.4% | +61.3% | |
| Q3 2020 | -4.4% | -1.2% | +24.8% | |
| Q3 2021 | +2.7% | +0.0% | +11.6% | |
| Q1 2021 | -11.4% | -12.0% | -35.1% | |
| Q4 2020 | -11.4% | -12.0% | -35.1% | |
| Q2 2020 | -11.4% | -12.0% | -35.1% | |
| Q2 2021 | -7.6% | -12.5% | -41.6% | |
| Q1 2020 | — | — | — |
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