Affirm Holdings, Inc. (AFRM) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Cash from Operations | 386.76M | 173.74M | 374.57M | 74.64M | 210.39M | 312.02M | 196.87M | 68.76M | 208.15M | 74.32M | 98.9M | 43.79M | -54.27M | -28.55M | 51.22M | -59.11M | -27.98M | -440.25M | 365.15M | -19.91M |
| Operating CF Margin % | 144.3% | 15.47% | 40.13% | 8.52% | 26.86% | 36.01% | 28.19% | 10.43% | 36.13% | 12.57% | 19.92% | 9.82% | -14.25% | -7.14% | 14.16% | -16.23% | -7.89% | -121.95% | 135.55% | -7.61% |
| Operating CF Growth % | 83.83% | -44.32% | 90.27% | 8.54% | 1.07% | 319.82% | 99.05% | 57.03% | 483.51% | 360.34% | 93.11% | 174.08% | -93.97% | 93.52% | -85.97% | -196.84% | 77.3% | -823.84% | 15948.52% | - |
| Net Income | 102.9M | 129.59M | 80.69M | 69.24M | 2.8M | 80.36M | -100.22M | -45.14M | -133.94M | -166.9M | -171.78M | -205.96M | -205.68M | -322.44M | -251.27M | -186.4M | -54.67M | -159.74M | -306.62M | -153.21M |
| Depreciation & Amortization | 74.96M | 75.59M | -57.02M | 63.99M | 59.47M | 54.89M | 46.72M | 65.39M | 37.01M | 26.51M | 40.13M | 43.28M | 47.47M | 23M | 20.88M | 17.11M | 13.1M | 11.96M | 10.54M | 7.89M |
| Stock-Based Compensation | 0 | 77.8M | 85.85M | 65.5M | 75.61M | 86.1M | 94.23M | 64.91M | 77.08M | 90.16M | 112.36M | 103.34M | 106.79M | 121.78M | 119.81M | 110.87M | 98.39M | 88.54M | 93.19M | 135.56M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 90.24M | 2.42M | 140.34M | 29.83M | 73.61M | 5.78M | 135.83M | 46.51M | 153.17M | 184.06M | 132.95M | 164.96M | 40.55M | 192.25M | 148.4M | 654K | -40.94M | -5.14M | 156.84M | -24.94M |
| Working Capital Changes | 118.65M | -111.66M | 124.7M | -153.93M | -1.1M | 84.89M | 20.31M | -62.91M | 74.83M | -59.51M | -14.76M | -61.83M | -43.41M | -43.14M | 13.39M | -1.35M | -43.86M | -375.88M | 411.19M | 14.78M |
| Change in Receivables | 35.55M | 11.05M | 138.86M | -208.85M | -19.88M | 102.66M | 41.12M | -61.99M | 10.72M | -74.28M | -42.21M | -65.91M | 61.63M | -56.77M | -6.65M | -20.23M | 5.65M | -36.04M | -12.08M | -16.47M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 2.36M | -791K | -24.8M | 41.76M | -9.57M | -6.94M | 16.54M | 5.79M | -24.58M | 32.46M | -1.26M | -1.42M | 480K | -5.56M | 1.46M | -15.91M | 3.4M | -380.26M | 368.1M | 28.16M |
| Cash from Investing | 149.19M | -1.36B | -139.61M | -454.51M | 35.52M | -89.07M | -575M | -537.63M | -146.75M | -624.9M | -15.86M | -777.17M | -300.96M | -692.21M | 117.27M | -1.03B | -166.05M | -190.06M | -629.51M | 84.34M |
| Capital Expenditures | -61.41M | -55.7M | -54.37M | -51.12M | -53.01M | -43.91M | -44.15M | -38.26M | -46.48M | -38.75M | -35.82M | -24.86M | -30.52M | -34.25M | -31.15M | -27.04M | -21.09M | -21.81M | -16.35M | -7.84M |
| CapEx % of Revenue | 22.91% | 4.96% | 5.82% | 5.83% | 6.77% | 5.07% | 6.32% | 5.8% | 8.07% | 6.55% | 7.21% | 5.58% | 8.01% | 8.57% | 8.61% | 7.42% | 5.95% | 6.04% | 6.07% | 2.99% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -16.05M | 0 | 0 | 0 | 0 | 0 | -6M | -117.66M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -4.18B | 5.89B | 5.36B | -364.49M | 193.42M | -501.89M | -609.8M | -219.61M | -242.21M | -709.38M | -145.52M | -646.14M | -123.39M | -990.62M | -211.44M | -46.53M | -19.36M | -158.32M | -164.49M | 209.84M |
| Cash from Financing | -152.63M | 1.19B | 110.09M | 387.26M | -245.56M | 144.1M | 465.63M | 145.97M | 112.03M | 506.35M | 148.81M | 609.55M | -128.96M | 669.81M | 199.54M | -28.88M | 55.79M | 1.77B | 243.95M | -176.13M |
| Debt Issued (Net) | -133.24M | 1.23B | 127.57M | 445.18M | -153.35M | 472.39M | 529.56M | 188.26M | 186.29M | 529.74M | 192.2M | 618.08M | -98.82M | 677.94M | 233.37M | -11.22M | 101.86M | 1.82B | 252.91M | -147.27M |
| Equity Issued (Net) | 38.58M | 0 | -112.31M | 10.78M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -109K | -2K | -80K | 0 | -4K | -139K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | -112.31M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -109K | -2K | -80K | 0 | -4K | -14K |
| Other Financing | -57.97M | -48.08M | 94.83M | -68.7M | -92.21M | -328.29M | -63.93M | -42.29M | -74.27M | -23.39M | -43.39M | -8.53M | -30.14M | -8.13M | -33.72M | -17.66M | -45.99M | -52.41M | -8.96M | -28.72M |
| Net Change in Cash | 379.73M | -3.04M | 341.19M | 20.46M | -1.2M | 352.54M | 89.22M | -324.29M | 171.71M | -40.51M | 228.55M | -121.55M | -483.3M | -48.74M | 362.73M | -1.12B | -139.24M | 1.14B | -16.82M | -114.37M |
| Free Cash Flow | 325.35M | 118.03M | 320.21M | 23.52M | 157.38M | 268.11M | 152.72M | 30.51M | 161.68M | 35.57M | 63.09M | 18.93M | -84.79M | -62.8M | 20.06M | -111.56M | -49.08M | -462.07M | 348.8M | -27.75M |
| FCF Margin % | 121.39% | 10.51% | 34.31% | 2.68% | 20.1% | 30.95% | 21.86% | 4.63% | 28.06% | 6.02% | 12.7% | 4.25% | -22.26% | -15.72% | 5.55% | -30.64% | -13.83% | -127.99% | 129.48% | -10.6% |
| FCF Growth % | 106.73% | -55.98% | 109.68% | -22.91% | -2.66% | 653.67% | 142.08% | 61.15% | 290.68% | 156.65% | 214.42% | 116.97% | -72.77% | 86.41% | -94.25% | -302% | 61.84% | -814.1% | 5488.58% | - |
| FCF per Share | 0.93 | 0.34 | 0.92 | 0.07 | 0.46 | 0.78 | 0.48 | 0.10 | 0.52 | 0.12 | 0.21 | 0.06 | -0.29 | -0.21 | 0.07 | -0.39 | -0.17 | -1.64 | 1.28 | -0.10 |
| FCF Conversion (FCF/Net Income) | 3.76x | 1.34x | 4.64x | 1.08x | 75.03x | 3.88x | -1.96x | -1.52x | -1.55x | -0.45x | -0.58x | -0.21x | 0.26x | 0.09x | -0.20x | 0.32x | 0.51x | 2.76x | -1.19x | 0.13x |
| Interest Paid | 0 | 0 | 103.25M | 101.59M | 101.66M | 101.62M | 99.51M | 89.74M | 86.05M | 77.58M | 64.87M | 58.27M | 49.02M | 33.08M | 22.82M | 0 | 11.18M | 12.95M | 10.2M | 0 |
| Taxes Paid | 0 | 0 | 1.75M | -2.43M | 1.32M | 656K | 454K | 599K | 17K | 259K | 312K | 430K | 166K | 74K | 138K | 0 | 19K | 8K | 72K | 0 |