Affirm Holdings Inc
NASDAQ: AFRM · FINANCIAL SERVICES · CREDIT SERVICES
Updated 2026-06-12
Affirm Holdings Inc (AFRM) Financial statements
SEC filings — annual and quarterly data.
Margin trends — annual
| Year | Revenue | Net income | Gross margin | Op. margin | Profit margin |
|---|---|---|---|---|---|
| 2019 | $264.37M | $-120.45M | 58.87% | -38.41% | -45.56% |
| 2020 | $509.53M | $-112.60M | 66.20% | -21.15% | -22.10% |
| 2021 | $870.46M | $-441.03M | 62.90% | -44.08% | -50.67% |
| 2022 | $1.35B | $-707.42M | 57.28% | -64.19% | -52.43% |
| 2023 | $1.59B | $-985.35M | 45.01% | -75.62% | -62.05% |
| 2024 | $2.32B | $-517.76M | 63.62% | -26.51% | -22.29% |
| 2025 | $3.22B | $52.19M | 67.51% | -2.71% | 1.62% |
Frequently asked questions
What is Affirm Holdings Inc's revenue?
Affirm Holdings Inc's trailing twelve-month revenue is $3.97B, and consensus projects about $10.43B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is AFRM?
In its most recent fiscal year, AFRM ran a gross margin of 67.51%, an operating margin of -2.71%, and a net margin of 1.62%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does AFRM generate?
AFRM produced $601.72M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is AFRM's balance sheet healthy?
AFRM holds $1.35B in cash and equivalents against $7.82B in long-term debt, on $3.07B of shareholder equity. That debt is best read against the cash flow the business throws off each year.