Affirm Holdings, Inc. (AFRM) Revenue History
Annual and quarterly revenue from 2019 to 2025
Compound Annual Growth Rate (CAGR)
Loading revenue history...
Revenue Growth Metrics
Revenue Breakdown (FY 2025)
AFRM's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
AFRM Revenue Analysis (2019–2025)
As of March 1, 2026, Affirm Holdings, Inc. (AFRM) generated trailing twelve-month (TTM) revenue of $2.92 billion, reflecting significant decline in growth of -62.1% year-over-year. The most recent quarter (Q2 2026) recorded $328.4 million in revenue, down 64.8% sequentially.
Looking at the longer-term picture, AFRM's 5-year compound annual growth rate (CAGR) stands at +44.6%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $3.22 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows AFRM's business is primarily driven by Merchant Network (79%), and Virtual Card Network (21%). With over half of revenue concentrated in Merchant Network, the company maintains significant focus in this area while developing other growth vectors.
When compared to Technology sector peers including XYZ (+0.3% YoY), CPAY (+11.3% YoY), and TOST (+24.1% YoY), AFRM has underperformed the peer group in terms of revenue growth. Compare AFRM vs XYZ →
Peer Comparison
Compare AFRM's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| AFRMCurrent | $2.9B | -62.1% | +44.6% | -2.7% | |
| XYZ | $24.2B | +0.3% | +20.6% | 7.1% | |
| CPAY | $4.0B | +11.3% | +8.5% | 45.0% | |
| TOST | $6.2B | +24.1% | +49.5% | 5.0% | |
| KSPI | $2.52T | +53.3% | +36.9% | 50.4% | |
| WEX | $2.6B | -1.1% | +8.8% | 26.1% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $3.22B | +38.8% | $2.18B | 67.5% | $-87,273,000 | -2.7% |
| 2024 | $2.32B | +46.3% | $1.48B | 63.6% | $-615,847,000 | -26.5% |
| 2023 | $1.59B | +17.7% | $714.8M | 45.0% | $-1,200,862,000 | -75.6% |
| 2022 | $1.35B | +55.0% | $772.8M | 57.3% | $-866,048,000 | -64.2% |
| 2021 | $870.5M | +70.8% | $547.5M | 62.9% | $-383,667,000 | -44.1% |
| 2020 | $509.5M | +92.7% | $337.3M | 66.2% | $-107,790,000 | -21.2% |
| 2019 | $264.4M | - | $155.6M | 58.9% | $-101,546,000 | -38.4% |
See AFRM's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs AFRM Undervalued?
See our Bear / Base / Bull DCF models and intrinsic value estimates.
View ValuationCompare AFRM vs NVDA
See how AFRM stacks up against sector leader NVIDIA Corporation.
Start ComparisonFrequently Asked Questions
Is AFRM's revenue growth accelerating or slowing?
AFRM revenue declined -62.1% year-over-year, contrasting with the 5-year CAGR of +44.6%. TTM revenue fell to $2.9B. This reverses the prior growth trend.
What is AFRM's long-term revenue growth rate?
Affirm Holdings, Inc.'s 5-year revenue CAGR of +44.6% reflects the variable expansion pattern. Current YoY growth of -62.1% is below this long-term average.
How is AFRM's revenue distributed by segment?
AFRM reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2025 are available for download. Segment mix reveals concentration and diversification trends.