Affirm Holdings Inc. (AFRM) shares surged 20.70% in after-hours on Thursday, September 09, 2021, and closed the daily trading at $111.12. Even in the regular trading session of Thursday, AFRM’s stock performed well and gained 5.16%. The stock volume remained 9.94 million shares. AFRM shares have moved down 4.58% in the past week. Over the past three months, the stock has gained 44.57%, while over the past six months, it has jumped 13.30%.
Let’s see what are the recent news about the company?
AFRM recent financial results announcement
On September 09, 2021, Affirm Holdings, Inc (AFRM) reported its financial results for its fourth quarter and fiscal year ended June 30, 2021.
Q4 2021 financial highlights
- AFRM reported total revenue of $261.8 million in Q4 2021 compared to $153.3 million in Q4 2020.
- Total operating expenses were $386.5 million in Q4 2021 compared to $114.02 million in Q4 2020.
- In Q4 2021, the operating loss was $124.7 million compared to an operating income of $39.3 million in Q4 2020.
- It suffered a net loss of $128.2 million in Q4 2021 compared to a net income of $34.8 million in the fourth quarter of fiscal 2020.
FY 2021 financial highlights
- Total revenue was $870.5 million in FY 21 compared to $509.5 million in FY 2020.
- Total operating expenses were $1.25 billion in FY 2021 compared to $617.32 million in FY 2020.
- Operating loss was $379.2 million compared to $107.8 million in the fiscal year 2020.
- It suffered a net loss of $430.9 million in FY 2021 compared to a net loss of $112.6 million in FY 2020.
FY 2022 financial outlook
For fiscal Q1 2022, the company is expecting,
- Revenue in the range of $240 to $250 million.
- Adjusted operating loss in the range of $68 million to $63 million.
For fiscal FY 2022, the company is expecting,
- Revenue in the range of $12.45 billion to $12.75 billion.
- Adjusted operating loss in the range of $145 million to $135 million.
AFRM partnership with Amazon
On August 27, 2021, Affirm Holdings (AFRM) announced that its buy-now-pay-later offerings are coming to Amazon.com. The company said it’s currently testing its flexible payment service on Amazon and plans to widely debut the option in the coming months. If a customer is approved, Affirm will offer monthly payments for purchases of $50 or more.
AFRM Asset-Backed Securitization
On August 04, 2021, Affirm Holdings, Inc (AFRM) closed a $500 million securitization of its point-of-sale installment loans. The issuance follows an active and successful period for Affirm, having recently been recognized as “Esoteric ABS Issuer of the Year” in the 2021 U.S. Securitization Awards announced by GlobalCapital. The transaction marks Affirm’s third securitization of 2021, the sixth since it launched its program in July 2020, and represents the company’s most successful issuance to date.
Conclusion
The recent financial results were the reason behind AFRM top-notch performance on Thursday and it can end the weekly trading by continuing its positive performance on Friday as well.
