Although it didn’t address two big elephants in the room, buy now, pay later company Affirm rode solid advancements in its debit card and gross merchandise volume metrics to better-than-expected Q3 earnings results. In what is a continuing referendum on consumer spend this earnings season, CEO Max Levchin painted a picture of a consumer financing FinTech that is cautiously increasing its risk exposure by extending credit to a larger consumer base while trying to maintain control over credit outcomes. As the ...

财务数据和关键指标变化 - 公司第三季度GMV同比增长36%,超出预期 [21][22] - 公司预计第四季度GMV同比增长25%,增速有所放缓但仍保持较高水平 [21][22] - 公司调整后营业利润率在15%-17%之间,保持较高水平 [36][37] 各条业务线数据和关键指标变化 - Affirm Card业务使用情况持续改善,新用户使用频率高于早期用户 [24][25][26] - Affirm Card业务在餐饮等场景的使用有所增加 [63] 各个市场数据和关键指标变化 - 公司计划在英国市场推出业务,将面临一个学习期来评估当地的信用表现 [66][67] - 公司在中小型商户群体中增长较快,这些商户更注重业务增长 [69][70][71] 公司战略和发展方向及行业竞争 - 公司不需要独家合作就能在市场上取得成功,可以与其他BNPL服务商并存 [49][50] - 公司未来计划进一步扩大在日常消费场景的渗透,提升Affirm Card的使用频率 [63][64] 管理层对经营环境和未来前景的评论 - 公司对利率变动不太敏感,能够在利率环境下保持良好的增长和盈利能力 [29][30][31] - 公司将继续谨慎管理信用风险,不会为了追求增长而放松信用标准 [40][41][42] 问答环节重要的提问和回答 问题1 **Robert Wildhack 提问** 公司定价举措对近期业务量增长的影响 [13][14][15] **Max Levchin 和 Michael Linford 回答** 公司定价举措对业务量增长的影响难以量化,但有助于提升整体收益水平 [13][14][15] 问题2 **Jason Kupferberg 提问** Affirm Card业务的使用情况及未来发展趋势 [24][25][26] **Max Levchin 和 Michael Linford 回答** Affirm Card业务使用情况持续改善,公司将继续投入改善用户体验,未来发展前景良好 [24][25][26] 问题3 **Dan Dolev 提问** 公司在利率上升环境下保持业务增长和盈利能力的原因 [29][30][31] **Max Levchin 回答** 公司业务对利率变动不太敏感,能够在各种利率环境下保持良好的经营状况 [29][30][31]

For the quarter ended March 2024, Affirm Holdings (AFRM) reported revenue of $576.16 million, up 51.2% over the same period last year. EPS came in at -$0.43, compared to -$0.69 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $548.07 million, representing a surprise of +5.13%. The company delivered an EPS surprise of +38.57%, with the consensus EPS estimate being -$0.70.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...

Affirm Holdings (AFRM) came out with a quarterly loss of $0.43 per share versus the Zacks Consensus Estimate of a loss of $0.70. This compares to loss of $0.69 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 38.57%. A quarter ago, it was expected that this operator of digital commerce platform would post earnings of $0.08 per share when it actually produced earnings of $0.04, delivering a surprise of -50%.Over the last four qu ...

T H I R D F I S C A L Q U A R T E R 2 0 2 4 Affirm Shareholder Letter We delivered another set of excellent results in our third fiscal quarter. In the parlance of our times, we slayed. Our mission remains as important to us – and as relevant to our merchant partners and our consumers – as it has been since day zero, and we feel quite comfortable executing in the current economic and interest rate environment. This is the fourth consecutive quarter of accelerating GMV growth for Affirm. Credit performance w ...

Investors are probably keeping a close eye on Affirm Holdings, Inc. (AFRM) as the company prepares to announce its third-quarter fiscal 2024 results on May 8, prior to the market opening. Some investors are deliberating whether to purchase shares of this prominent payment network before its earnings report or await a potentially more advantageous entry point.Why is It Attracting Investor Interests?As a prominent player in the buy now, pay later (BNPL) sector, AFRM holds a distinctive advantage to benefit fr ...

Sleeper stocks to buy – based on Nasdaq.com’s glossary – represent securities that offer significant price appreciation potential once its fundamentals have been recognized. That could cover a lot of enterprises so I decided to narrow down the list.Using TipRanks’ Stock Screener, I filtered for ideas that benefit from a series of strong quantitative attributes but simultaneously carry analyst consensus hold ratings. In other words, these are ideas that, by the numbers, should benefit from Wall Street’s spot ...

Affirm Holdings Inc (NASDAQ: AFRM) is down 8.0% at writing after One – a Walmart-backed financial technology startup joined the BNPL race. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.Why is it a big deal for Affirm stock?Copy link to sectionOne will reportedly enable customers to opt for its buy now, pay later loan to purchase big-ticket items at more than 4,600 locations of Walmart across the United States.  The announcement is significant for $A ...

股价表现 - Affirm Holdings (AFRM) 最近的股价为 $33.80，较前一个交易日上涨了 +0.69% [1] - 过去一个月，数字商务平台运营商的股价下跌了 13.46%，落后于商业服务行业的下跌幅度为 1.98%，以及标普500指数的上涨幅度为 0.8% [2] 财报预期 - 投资界将密切关注 Affirm Holdings 在即将发布的财报中的表现。预计公司将发布每股收益为 -$0.70，较去年同期下降了 1.45%。同时，最新的共识估计预计公司营收为 $548.07 百万美元，较去年同期增长了 43.86% [3] - 根据 Zacks Consensus Estimates，全年预计每股收益为 -$2.45，营收为 $2.18 十亿美元，分别较上一年增长了 +26.65% 和 +37.25% [4] 估值调整 - 最近分析师对 Affirm Holdings 的估值发生了变化，这些变化反映了短期业务趋势的演变。因此，估值的积极修订传达了分析师对公司业绩和利润潜力的信心 [5] - 研究表明，这些估值调整直接与即将到来的股价表现相关联。为了利用这一点，我们建立了 Zacks Rank，这是一个独家模型，考虑了这些估值变化并提供了一个操作评级系统 [6] Zacks Rank - Zacks Rank 系统从 1 (强热门) 到 5 (强卖出)，经第三方审计验证，自 1988 年以来，排名为 1 的股票平均年回报率为 +25%。在过去的 30 天里，Zacks Consensus EPS 估计下调了 1.54%。目前，Affirm Holdings 拥有一个 Zacks Rank 为 3 (持有) [7] 行业排名 - 商业服务行业属于商业服务部门。该行业目前的 Zacks Industry Rank 为 163，位于所有 250+ 个行业的后 36% [8] - Zacks Industry Rank 按照每个行业内各个公司的平均 Zacks Rank 从好到坏排序。我们的研究显示，排名前 50% 的行业胜过后 50% 的行业 2 倍 [9] 信息来源 - 请务必利用 Zacks.com 来及时了解所有这些影响股价的指标，在接下来的交易日中 [10]

公司业绩 - Affirm在最近一个季度实现了32%的GMV同比增长，超过了69亿美元的预期[4] - AFRM在调整后的运营利润率达到16%，远超过管理预期的2%至4%[9] - 公司预计第三季度GMV增长高达30%，收入增长高达44%，RLTC增长高达28.7%，调整后的运营利润率为6%至8%[11] - 公司已经展示了顶线增长的加速，包括上个季度32%的GMV增长率，管理层还概述了中期至少20%的GMV增长路径[16] - AFRM的RLTC占GMV的3%至4%，使得预计收入和RLTC以接近GMV的速度增长成为可能[17] - 公司目标长期净利润率为20%，如果公司能维持20%的顶线增长，那么股票的前瞻性收益约为19倍，PEG比率约为1倍[18] - 公司维持净现金资产负债表，长期净利润率为20%，股价约为40美元[19] 竞争风险 - 竞争仍然是一个重要风险，大型公司如PayPal（PYPL）和Apple Pay（AAPL）可能会成为强大的竞争对手[20] 评级建议 - AFRM在高利率环境中表现出色，GMV增长加速，收入增长正常化，利润率迅速提高，公司维持净现金资产负债表，股价交易于GARP样式的估值，我将股票评级升级为买入[21]