Affirm Holdings, Inc. reported sustained GAAP profitability in the latest quarter, driven by a 42% year-over-year increase in gross merchandise volume (GMV). The company’s operating margin expanded by 200 basis points sequentially, reflecting disciplined expense management and higher merchant fees. Active consumers on the Affirm platform rose to 24.1 million, up from 20.5 million in the prior year, while transactions per user climbed 20%, underscoring deepening engagement across segments. These performance metrics support the firm’s Buy rating despite regulatory scrutiny and broad market valuation pressures.

In late January, Affirm was selected as the default buy-now-pay-later provider across Bolt’s one-click checkout network, covering both logged-in and guest shoppers. The rollout, initially targeting select merchants, will expand across Bolt’s merchant base in coming months. This integration requires no additional work for merchants and enables consumers to split purchases into biweekly or monthly plans, including 0% APR options. Executives at Bolt project that the collaboration will boost average order values and conversion rates by offering a seamless installment option alongside traditional card payments.

Affirm partnered with Fiserv to integrate pay-later functionality into debit card programs at community and regional banks as well as credit unions. The arrangement leverages Affirm’s real-time underwriting engine and Fiserv’s digital payments infrastructure to enable bank clients to keep loan origination and funding on their existing debit rails. Financial institutions can offer installment options at any merchant accepting debit cards, aiming to enhance customer loyalty and retain spend within their ecosystems. This collaboration builds on their 2022 integration into Fiserv’s Commerce Hub and follows Affirm’s plan to establish an FDIC-insured bank subsidiary to support future scaling.