Affirm Q1 revenue rises as Affirm Card GMV expands
AFRM•AFRM•AFRM•AFRM•Affirm said Q1 revenue rose year over year to $1.26 million and adjusted EPS increased to $0.47. It expects FY27 GMV to exceed $65.25 billion and forecasts Q2 revenue of $1.435 billion to $1.465 billion.
Affirm's fiscal Q1 adjusted EPS rose to $0.47, while revenue increased year over year to $1.26 million. Direct-to-consumer GMV rose 55%, driven almost entirely by 117% growth in Affirm Card GMV to $3.3 billion.
Affirm expects FY27 GMV to exceed $65.25 billion. For Q2, it forecasts GMV of $17.9 billion to $18.2 billion and revenue of $1.435 billion to $1.465 billion. It expects FY27 operating margin above 14.75% and adjusted operating margin above 30.75%.
Interest income grew 45% as direct-to-consumer growth lifted the average APR on interest-bearing loans by about 40 basis points. Gain on sales of loans rose 36%, supported by 27% growth in loans sold and a 17-basis-point improvement in sale pricing. A 29-basis-point rise in provision for loan losses mostly offset revenue, funding and processing cost tailwinds.
