Affirm Holdings, Inc. Q1 2027 Earnings Recap

Affirm’s shares fell 2.2% after earnings, a roughly flat reaction. Management reiterated a full-year growth floor of 30% and said Q2 was growing at a high-30s rate in its first month; the excerpt offers limited detail on the quarter’s results, so it does not establish a clear reason for the decline.

Key Takeaways

• Management said the full-year growth floor starts at 30% and reported high-30s growth in the first month of Q2.
• The CEO said Affirm operates in four U.S. markets and represents less than 4% of e-commerce, while pointing to international expansion and other initiatives as potential growth opportunities.
• The CFO said funding costs were down year over year to 6% as a percentage of loans on the balance sheet, and cited a Q1 RLTC take rate of 4.3%.
• The CFO noted funding costs increased 27 basis points quarter over quarter; he pointed to seasonality in balance-sheet composition as a factor.
• Management is investing in agentic shopping and argued that Affirm can price transactions individually, while noting consumer preferences vary between 0% financing and longer-term affordability.