NASDAQ$AFRM
Affirm · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Affirm delivered outstanding results driven by GMV growth and revenue increase.
Affirm reported a strong second quarter in fiscal year 2024, with GMV growing 32% year-over-year to $7.5 billion and revenue increasing 48% year-over-year to $591 million. The company also generated $93 million in Adjusted Operating Income, a significant improvement from the previous year. Affirm Card saw substantial growth, with over 700,000 active cardholders generating $397 million in GMV.
- GMV grew 32% year-over-year to $7.5 billion, accelerating for the third consecutive quarter.
- Revenue grew 48% year-over-year to $591 million.
- Revenue Less Transaction Costs (RLTC) grew 68% year-over-year to $242 million, representing 3.2% of GMV.
- Adjusted Operating Income was $93 million, compared to a loss of $62 million in the same quarter last year.
Headline financials
Revenue & EPS history
Affirm · Revenue · Quarterly
$591M
Forward guidance
Affirm provided financial outlook for fiscal year 2024 and Q3 2024.
Tailwinds
- GMV: more than $25.25 billion
- Revenue as a percentage of GMV: increase ~65 basis points from FY’23
- Revenue Less Transaction Costs as a percentage of GMV: increase ~20 basis points from FY’23
- Adjusted Operating Margin: more than 11 percent
- Weighted Average Shares Outstanding: 311 million
Headwinds
- Revenue: $530 to $550 million
- Transaction Costs: $325 to $335 million
- Revenue Less Transaction Costs: $205 to $215 million
- Adjusted Operating Margin: 6 to 8 percent
- Weighted Average Shares Outstanding: 314 million
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 Q2 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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