Affirm Holdings Inc-A 2025年季度报告

FORM 10-Q (Mark One)☐QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934For the quarterly period ended December 31, 2024 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934For the transition period from __________ to __________ Commission File Number: 001-39888 Affirm Holdings, Inc.(Exact name of registrant as specified in its charter) 84-2224323 (State or other jurisdiction of incorporation ororganization)(I.R.S. Employer Identification No.) San Francisco, California94108(Address of principal executive offices)(Zip Code)(415) 960-1518(Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant wasrequired to file such reports), and (2) has been subject to such filing requirements for the past 90days.Yes☐No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or forsuch shorter period that the registrant was required to submit such files).Yes☐No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☐ As of February 3, 2025, the number of shares of the registrant’s Class A common stock outstanding was 277,254,755and the number of shares of the registrant’s Class B common stock outstanding was 40,801,695. Table of Contents TABLE OF CONTENTS PageCover1Table of Contents2Part I - Financial Information5Item 1. Financial Statements5CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)5CONDENSED CONSOLIDATED BALANCE SHEETS, CONT. (Unaudited)6CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ANDCOMPREHENSIVE INCOME (LOSS) (Unaudited)7CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY(Unaudited)8CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)10CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, CONT. (Unaudited)111. Business Description122. Summary of Significant Accounting Policies123. Revenue144. Loans Held for Investment and Allowance for Credit Losses175. Balance Sheet Components216. Leases247. Commitments and Contingencies258. Debt279. Securitization and Variable Interest Entities3310. Investments35 11. Derivative Financial Instruments3912. Fair Value of Financial Assets and Liabilities4113. Stockholders’Equity5214. Equity Incentive Plans5315. Restructuring5616. Income Taxes5617. Net Income (Loss) per Share Attributable to Common Stockholders57Item 2. Management’s Discussion and Analysis of Financial Condition and Results ofOperations59Item 3. Quantitative and Qualitative Disclosures About Market Risk76Item 4. Controls and Procedures78Part II - Other Information79Item 1. Legal Proceedings79Item 1A. Risk Factors79Item 2. Unregistered Sales of Equity Securities and Use of Proceeds80Item 3. Defaults Upon Senior Securities80Item 4. Mine Safety Disclosures80Item 5. Other Information81Item 6. Exhibits83Signatures84 Table of ContentsCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (“Form 10-Q”), as well as information included in oralstatements or other written statements made or to be made by us, contains forward-looking statementswithin the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), andSection 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that involvesubstantial risks and uncertainties. All statements other than statements of historical fact contained in thisReport, including statements regarding our future results of operations and financial condition, businessstrategy, and plans and objectives of management regarding future operations, are forward-lookingstatements. In some cases, forward-looking statements may be identified by words such as “anticipate,”“believe,” “continue,” “could,” “design,” “estimate,” “expect,” “intend,” “may,” “plan,” “potentially,” “predict,”“project,” “should,”