On February 10, 2022, the stock of Affirm Holdings Inc (AFRM) closed the trading session at $58.68, losing 21.43% from the previous trading session. The stock price kept oscillating between $54.04 and $82.56. During the last check, AFRM lost 7.29% to $54.40, in the after-hours. Affirm released the financial result of the second quarter of the financial year 2022, which ended on December 31, 2021. The company also filed the form SC 13G and form 8-K with the SEC to report beneficial ownership of the stocks and to report an unscheduled material or corporate event, respectively.

Financials

Affirm Holdings Inc (AFRM) released the financial results for Q2 of the fiscal year 2022. The revenue of the company grew by 77% from $204.04 million in Q2 of FY21 to $361.01 million in Q2 of FY22. Net loss of the company was $159.7 million in the second quarter of the fiscal year 2022 against $26.6 million in the same quarter of FY21. The quarterly loss per share of AFRM was announced to be $0.57 per share in FY22 in comparison to the estimate of $0.44, by the Zacks Consensus Estimate. The loss per share of AFRM in the same quarter of FY21 was $0.38. The total operating expense of the company was $557.21 million in Q2 of FY22 as compared to $230.81 in the same quarter of the fiscal year 2021.

AFRM: CEO Remarks

The Chief Executive Officer (CEO) of Affirm Holdings, Inc. (AFRM ), Max Levchin, said that Affirm saw strong growth in the second quarter because of its technology and the commitment to putting the people first. He added that the merchandise volume of AFRM has doubled YoY, by adding almost 7 million active clients during the past 12 months.

Mr. Levchin concluded that AFRM is focused on extending their leads as they scale up the enterprise partnerships and they have never been more eager to expand the effect of their mission.

On January 28, 2022, analysts at DA Davidson recently upgraded the AFRM stock coverage from neutral to buy rating but lowered the target price from $110 to $75.