If we can find something in the space or near the space that is better off owned by us and operated by us, I think we will take it very seriously now that the prices have normalized. As we have shared in the past, we are, first and foremost, focused on managing risk. Last one real quick, your Australian listed or formerly Australian listed competitors may not have seen such strong results recently. Think about Q2 as being lower on a vertical basis, although again, we feel really good about the economic content that we'll be originating in that quarter such that the back half of the year will be improving from there. Image source: The Motley Fool.Affirm (NASDAQ: AFRM)Q2 2023 Earnings CallFeb 08, 2023, 5:00 p.m. ETOperatorContinue readingRead more on 'MotleyFool' And those are the numbers that we feel really, really strong about. The transactions per active consumer are at a healthy 2.7 times per week, and the online/offline usage breakdown is split nearly evenly. That's still the right side of the ledger to be on - sorry, we're concerned. Turning to expenses. August 25, 2022. The latter is that we expect significant growth from new partnerships, new products and new geographies. 6, 2023-- Affirm Holdings, Inc. (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced that Michael Linford , CFO, will participate in a . We're still optimizing exactly, for example, what sort of insufficient funds rate we'll see as the transactions flow through to checking accounts? GAAP operating loss was $277.2 million, which compares to a loss of $114.3 million in the prior year period. So how do we continue building the strongest Affirm amid uncertainty? The statement around macro environment really should be heard as uncertainty. That said, given how underpenetrated we are today, our growth is not limited by the growth of our merchants or even broadly to e-commerce. As such, our outlook for fiscal year 2023 does not include any material GMV or revenue impact from this product. The truth is, as we said in the call, as we see deterioration, we will pull extra levers, they may not show up as substantially less growth, but they will, nonetheless, show up with protecting our unit economics. We have a lot of work to do. So I don't know that we're making a statement about things into the future beyond that. Affirm (AFRM) Q3 2023 Earnings Call Transcript, Affirm (AFRM) Q2 2023 Earnings Call Transcript, Affirm Holdings, Inc. (AFRM) Q1 2023 Earnings Call Transcript, Affirm Holdings, Inc. (AFRM) Q3 2022 Earnings Call Transcript, Affirm Holdings, Inc. (AFRM) Q2 2022 Earnings Call Transcript, Cumulative Growth of a $10,000 Investment in Stock Advisor, Join Over Half a 1 Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. Can you help characterize for us the - what the nature of those commitments are from a capacity standpoint? As to the issue of whether the factors of disability should be combined or added, Dr. . While we cannot precisely predict the macroeconomic conditions, our outlook assumes the current forward interest rate curve. So we have as much to say about these terms as the consumer does, if not more, but there's definitely some differentiated behavior. Your line is now live. What convinces you that Affirm is the long-term winner? . Today's Change (-4.13%) -$0.59 Current Price $13.71 Price as of May 25, 2023, 4:00 p.m. Like what kind of data are you guys pulling from? Hi, thanks for taking my questions this afternoon. Revenue as a percentage of GMV contracted by 226 basis points to 8.3%, driven by a mix shift away from longer-duration 0% loans and toward short-term Split Pay loans. Under his leadership, we are investing in the United Kingdom market this fiscal year and plan to continue from there. Max mentioned this at the very top. By some estimates, this is almost 45 million Americans and we are excited to begin deploying some of these features in time for the upcoming holiday season. Some folks choose not to buy because the prices relative to their earning capacity are higher. If we do see signs of significantly more stress or if rates were to increase much more than expected, we expect to utilize the various levers at our disposal to protect our unit economics. 2023 Q2. But our guide is the guide and yet we take it very seriously, and I don't think we've missed one yet. We've said it before and we'll say it again. Returns as of 07/01/2023. So first, just overall, the way to think about the market, we have really strong demand or supply for - on balance sheet where health capacity, I would characterize it as us having to say no and the banks are plenty willing to lend money right now. Just curious what some of the, I guess, leading indicators you guys are looking at. Maybe that's the way I should have characterized it. Operator? All the while, our approval rates have actually gone up. I'm sure eventually it'll come to an end, but for the moment we're still single digit of U.S. e-commerce. Our outlook for the first quarter also contemplates transaction costs of $176 million to $188 million; revenue less transaction cost of $169 million to $177 million; adjusted operating loss as a percentage of revenue of 12% to 10%; and weighted average shares outstanding of 292 million. Your line is now live. That is to say, 95% of our capacity is mostly locked into the entirety of fiscal 2023 on the forward flow side. Is there any way you can size that for us or just give us some context about what that looks like inside of your overall portfolio? As we enter the second year of availability for each of these programs, we expect continued growth in fiscal 2023 albeit from a much bigger base. In addition, today's call may include non-GAAP financial measures. On our February call, we estimated that a 100 basis point rate increase beyond the forward curve at the time would result in an approximate 10 to 20 basis point impact to RLTC as a percentage of GMV for the second half of fiscal 2022 based on our mix at the time. Your line is now live. We have once again posted a very healthy set of numbers, beating our own financial targets. Affirm. As we said previously, we do not expect to compromise our long-term growth opportunities as we progress toward sustained profitability. So probably the most important thing to know about Amazon is that it's still very, very early relative to the potential of the - just the sheer scale they have and the many different ways for us to work together. Calculated by Time-Weighted Return since 2002. And it's a little bit difficult for us to want to be prescriptive on where that number needs to be. We believe that we are well-positioned to continue growing our network while expanding our product offerings and geographic reach. We are not going to caveat it or characterize it in any way, except it's our guidance. Is it consistent with that or any differences worth calling out between the two? And typically, that means miles or points or something like that. We would expect to continue to execute across all of our funding strategies and keep equity capital required below 5% of total platform portfolio. For the next earning release, we expect the company to report earnings . And just for a second, to be really clear on what it's not, the guidance for GMV is not reflective of the view that we have around consumer demand for our product. Just a follow-up, I guess, on the credit side. And lastly, it's not a function of capital constraints. And now Debit+ transactions begin in a search box, which is kind of an interesting stats that should tell you opportunities there to monetize are pretty enormous. Financial data from Affirm earnings reports. Welcome to the Affirm Holdings' fiscal year 2022 fourth quarter earnings conference. Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. And I hope to brag about them on the next call, but I'll stop now because I'm taking up your time because Michael's gotten so many really good questions, but yes, we have a lot planned on the consumer side for sure. No. Contact IR; Email alerts; Print; RSS feeds Consumers . I think the if you look at the North American footprint, I would argue we've established our dominance over the last fiscal year, quite decisively. We executed well throughout the quarter, meeting U.S. consumer spend where it was. And I think both of us in a partnership have noticed that it is, in fact, a very successful way of offering consumers a reason to buy now. I have fantastic customer stories. AFRM. Obviously recognize that you don't want to give away your secret sauce. And are the - and I guess along with that, are there adjustments you need to be making to your provisioning? AFFIRM HOLDINGS, INC. (AFRM) Add to my list Report Summary Quotes Charts News Ratings Calendar Company Financials Consensus Revisions Funds MarketScreener Strategies Transcript : Affirm Holdings, Inc., Q2 2022 Earnings Call, Feb 10, 2022 02/10/2022 | 05:00pm EDT Good afternoon, ladies and gentlemen. We never distinguish between on and off except for when we go to the financial statements. With our team's solid execution, we exceeded all of our guidance for fiscal 2022 despite increasingly volatile market conditions in the second half of the fiscal year. The leverage then that we have at our disposal or everything from actually just increasing the credit bar to lower approval rates because you have less of the capacity to approve to changing the term lengths, if you change from a 24 months to 18 months, your risk posture changes or requiring more down payments. Andrew Jeffrey -- Truist Securities -- Analyst. It is available but we have really not promoted very hard. Affirm Q3 2021 Earnings Transcript 346.7 KB. And I was curious if that was something that you saw in the calendar second quarter. Turning to the financials. And we'll find a pocket of risk that, say, is currently experiencing signs of stress. I mean, if the market does find a new stable footing, you'll see us be active in the back half of the year. And so we're looking for businesses that had amazing entrepreneurs, amazing ideas, amazing first signs of traction that would really benefit from being put on a platform that has exceptional underwriting, exceptional capital markets reach at this point, very, very large user base, very large merchant base. The Motley Fool has a disclosure policy. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. So for example, general merchandise will have lower growth rates. AFRM. And then we're lapping some really gotti numbers. Following the speakers' remarks, we will open up the lines for your questions. We can stop the debate. Given inflationary pressures, we began to see the signs of stress during the quarter within certain low credit segment consumers. And when that happens, it's just the way things flow through the P&L is that you end up with lower revenue and RLTC rates in the quarter. We also expanded our partnership with WooCommerce, which includes extending our reach to support their merchants in Canada. And we significantly broadened our relationship with Stripe, unlocking streamlined distribution to more merchants and more consumers. Thank you for standing by. Can you talk to, I guess, what the trends look like for the entire platform portfolio? I think that drawing a straight line between data like the DQ 30 chart to eventual charge-offs is a pretty big step and probably not something that I would do. [Operator instructions] As a reminder, this conference call is being recorded, and a replay of the call will be available on . Is it slower payment? Further, given timing within the quarter and the product mix, we expect to see a seasonal decline in both revenue and revenue less transaction cost as a percentage of GMV in the period due to how revenue is earned on these loans, similar to last year. Are we seeing more folks shift to the Split Pay product to avoid some of the longer term, the bigger purchases? Active consumers increased 96% year over year to 14 million and active merchants increased to nearly 235,000. So maybe a little bit of a brief description of how the allowance and provisioning works mechanically. If you think about how that informs the plan going forward, I think it's maybe a tertiary factor. And on top of all that, we are hitting the seasonal peak for delinquencies and therefore would expect the seasonality trend to work into our favor from here. And just as a follow-up. However, we are forecasting the second quarter to be the low point for the year-over-year GMV growth, given the nearly 370% growth in general merchandise GMV that we are comping against. ViaVid has made considerable efforts to provide an accurate transcription. So the ways that could impact us are, first and foremost, access to credit. So we have been keeping our eyes very, very open and have been optimizing credit and credit performance all throughout the calendar year. Visa's broad acceptance. This is really the year of the consumer. The real thing we would like to do is make sure that the unit economics or revenue less transaction costs are still printing at really high levels with the provisions that we are - we would need to be taking. It's amazing to contemplate that just a few years ago we imagined that supporting $50 million of transactional volume would be quite the achievement, even as we now plan our march to $50 billion of GMV just a few years from now. Just look, I think what you're seeing very recently in terms of the sequential build is what we consider to be a pretty normal seasonal pattern. I guess, an easier way to ask the question is what provisions and losses are baked into the full year guide? *Average returns of all recommendations since inception. Accordingly, we ever so subtly turned our dials and gave up a couple of points of growth this past quarter through small optimizations, and we still grew GMV by 77%. And so we expect more of that. Affirm Holdings Inc Watch NASDAQ: AFRM Share price (6/5/23): $15.55 Market cap (6/5/23): $3.667 billion 40 Affirm Holdings Inc Expert Interviews, now on BamSEC. In a sentence, we are going to be cautious in our management of risk while investing aggressively in the expansion of our total addressable market. Thank you for standing by. Thank you. Good afternoon, ladies and gentlemen. ET AFRM earnings call for the period ending December 31, 2022. We have both the underwriting technology and the control systems to deliver on this goal. Travel and ticketing increased to $545 million, up 87% from last year and a staggering 443% compared to pre-pandemic levels of Q4 in 2019, highlighting the success of our investments in partnerships in the category. Get started. This resulted in a year-over-year decline in revenue take rates, which we express as a percentage of GMV. Moshe Orenbuch -- Credit Suisse -- Analyst. Thank you, Michael. When we say we have the ability to manage credit outcomes, this is exactly what we mean. We have a lot more tools at our disposal. AFRM Affirm Holdings, Inc. Earnings Call Transcripts 32.51K followers $15.20 0.36 ( +2.43%) 4:00 PM 06/27/23 NASDAQ | $USD | Pre-Market: $15.06 -0.14 (-0.92%) 6:35 AM Summary Ratings. Institutional ownership, Q4 2022. Payment options through Affirm are provided by these lending partners: . We've shown that we can continue to move that number up and up and up. Next question is coming from Reggie Smith from J.P. Morgan. 09/13/2021 | 11:22am EDT Affirm Holdings, Inc. Fourth Quarter and Full Year 2021 Earnings Conference Call September 9, 2021 Affirm Holdings, Inc. - Fourth Quarter and Full Year 2021 Earnings Conference Call, September 9, 2021 C O R P O R A T E P A R T I C I P A N T S Ronald Clark, Vice President, Investor Relations We have a lot of exceedingly smart people like, I think I'm surrounded by pretty clever people. So we had to scramble a solution for him. Hosting today's call are Max Levchin, Affirm's founder and chief executive officer; and Michael Linford, Affirm's chief financial officer. We're very - we're able to be very surgical. Affirm : Q1 2022 Earnings Transcript 11/16/2021 | 12:46am EDT Affirm Holdings, Inc. First Quarter 2022 Earnings Conference Call November 10, 2021 Affirm Holdings, Inc. - First Quarter 2022 Earnings Conference Call, November 10, 2021 C O R P O R A T E P A R T I C I P A N T S Ronald Clark, Vice President, Investor Relations Again, our goals are very clear. We had anticipated this shift a little while ago and recently announced some timely new partnerships in the space like Agoda and SeatGeek. In comparison to a more normalized fiscal third quarter of 2022, provision for credit losses grew just 10%, and provision expense as a percentage of GMV declined by 4 basis points sequentially to 1.65%. Before we begin, I would like to remind everyone listening that today's call may contain forward-looking statements. Of course, we'll put our own spin on it, and we are different and we like our differences. Thank you for joining us on this call. However, these lines should demonstrate operating leverage as a percentage of revenue when measured on an adjusted non-GAAP basis. This reflects a positive earnings surprise of 24.18%. Our strong traction across our enterprise partnerships continued throughout the quarter with our three largest partners making up roughly 30% of our total Q4 volume. Q1 Affirm Holdings, Inc. - First Quarter 2023 Earnings Conference Call Affirm Q1 2023 Earnings Supplement 1.7 MB Affirm Q1 2023 Shareholder Letter 2.5 MB Affirm Reports First Quarter Fiscal Year 2023 Results Form 10-Q Affirm Q1 2023 Earnings Transcript 399.6 KB 2022 Q4 Affirm Holdings, Inc. - Fourth Quarter 2022 Earnings Conference Call So first of all, we're launching a beta. And we also went GA in late Q1, early Q2 for Shopify. OK. And then just as a follow-up, can you just speak to Affirm's competitive position? So whatever you could share there would be helpful. Earnings call transcript. And it's definitely true that we have a more conservative posture today than we did a year ago. Thank you. This stress without mitigation would flow through to charge-offs. Careers. However, it's from a very, very, very high growth rate base because the base gets bigger but the dollars of growth are still very impressive there. All that went really, really well and our partners have given us high marks on that front.