Affirm Holdings, Inc. (AFRM) Revenue History
Annual and quarterly revenue from 2019 to present
AFRM Revenue Over Time (2019–2025)
AFRM Revenue Growth History
6 of 6 years with positive growth- FY2019 revenue growth
- N/A
- FY2020 revenue growth
- +92.7%
- FY2021 revenue growth
- +70.8%
- FY2022 revenue growth
- +55.0%
- FY2023 revenue growth
- +17.7%
- FY2024 revenue growth
- +46.3%
- FY2025 revenue growth
- +38.8%
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $268.0M | -65.8% |
| Q2 2026 | $1.12B | +29.6% |
| Q1 2026 | $933.3M | +33.6% |
| Q4 2025 | $876.4M | +33.0% |
| Q3 2025 | $783.1M | +35.9% |
| Q2 2025 | $866.4M | +46.6% |
| Q1 2025 | $698.5M | +40.7% |
| Q4 2024 | $659.2M | +47.9% |
Multi-year avg. share of annual revenue by fiscal quarter
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)
Current Revenue & Growth
As of June 22, 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.
Historical Growth Trajectory
AFRM's 5-year compound annual growth rate (CAGR) stands at +44.6%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +33.7% is below the 5-year average, signalling a growth deceleration in recent years. Affirm Holdings, Inc.'s highest annual revenue of $3.22 billion was recorded in 2025, an all-time high.
Revenue by Segment
AFRM's revenue is primarily driven by Merchant Network (79%), and Virtual Card Network (21%). With over half of revenue concentrated in Merchant Network, the company has a focused business model while developing other growth vectors.
Peer Comparison
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% |
Full Stock Analysis
Deep dive into AFRM consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
7+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
AFRM — Frequently Asked Questions
Quick answers to the most common questions about buying AFRM stock.
Is AFRM's revenue growth accelerating or slowing?
AFRM revenue is declining -65.8% year-over-year. TTM revenue fell to $3.2B, contrasting with the 5-year CAGR of +44.6%. The reversal reflects either macro headwinds or company-specific challenges.
What is AFRM's revenue history from 2019 to 2026?
Affirm Holdings, Inc. (AFRM) revenue history spans 2019 to 2026. TTM revenue as of 2026 is $3.2B, growing at -65.8% YoY. The 5-year CAGR is +44.6%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is AFRM's long-term revenue growth rate (CAGR)?
Affirm Holdings, Inc.'s 5-year revenue CAGR of +44.6% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -65.8% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for AFRM.
Why does AFRM's quarterly revenue fluctuate?
AFRM quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Affirm Holdings, Inc.'s revenue data from 2019 to 2026 shows full historical quarterly detail on this page.
How is AFRM's revenue distributed by segment?
AFRM reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does AFRM's revenue compare to industry peers?
Affirm Holdings, Inc. (AFRM) with TTM revenue of $3.2B and -65.8% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.