Jul. 25 at 7:55 PM
$AFRM is heading into its next earnings report as a test of execution versus elevated expectations.
Fiscal Q3 2026 GMV increased 35% to
$11.6B, revenue rose 33% to
$1.04B and active consumers grew 22% to 26.8M. Affirm Card remains a major growth driver, with
$2.13B in GMV, up 146%.
The next phase is distribution. Affirm is being integrated into Google Search and Gemini through
$GOOGL, while its Stripe partnership is expanding into the UK. CPP Investments also committed
$1.7B to purchase Affirm loans, with capacity to increase the commitment to
$2.2B.
Upside: agentic commerce, international expansion and Card adoption. Risks: credit performance, funding costs and competition from
$KLAR and
$PYPL.
Not financial advice. Do your own research.
