Affirm Holdings, Inc. (AFRM) Revenue History
Annual and quarterly revenue from 2019 to 2025
Compound Annual Growth Rate (CAGR)
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AFRM Revenue Growth
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 May 8, 2026, Affirm Holdings, Inc. (AFRM) generated trailing twelve-month (TTM) revenue of $3.20 billion, reflecting significant decline in growth of -65.8% year-over-year. The most recent quarter (Q3 2026) recorded $268.0 million in revenue, down 76.1% 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 SEZL, LPRO, and UPST. Compare AFRM vs SEZL →
AFRM Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| AFRMCurrent | $3.2B | -65.8% | +44.6% | -2.7% | |
 SEZL | $450M | - | - | 39.3% | |
 LPRO | $93M | - | - | 6.4% | |
 UPST | $1.1B | - | - | 5.1% | |
 LC | $1.3B | - | - | 25.0% | |
 SOFI | $4.8B | - | - | 11.0% |
AFRM Historical Revenue Data (2019–2025)
| 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% |
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Start ComparisonAFRM — Frequently Asked Questions
Quick answers to the most common questions about buying AFRM stock.
Is AFRM's revenue growth accelerating or slowing?
AFRM revenue declined -65.8% year-over-year, contrasting with the 5-year CAGR of +44.6%. TTM revenue fell to $3.2B. 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 -65.8% 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.