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Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently the company runs and where it’s prioritizing investment.Affirm appears to be shifting from customer-acquisition spending toward credit and infrastructure costs: marketing has been cut materially while provisions for credit losses, funding costs, processing/servicing and tech/data are rising. That mix implies a larger, older loan book and tougher credit/funding pressure—good for scale if underwriting holds, but a margin and capital-risk story if credit trends worsen. Watch loan-loss trajectory and whether technology investments drive unit economics to offset higher funding and servicing costs.
Date | Sales and Marketing | General and Administrative | Provision for Credit Losses | Loss on Loan Purchase Commitment | Funding Costs | Processing and Servicing | Technology and Data Analytics |
|---|---|---|---|---|---|---|---|
Jun 30, 2026 | $92.40M | $146.84M | $223.20M | $76.28M | $118.51M | $158.91M | $202.55M |
Mar 31, 2026 | $72.85M | $145.30M | $196.54M | $67.96M | $113.76M | $162.29M | $191.62M |
Dec 31, 2025 | $98.78M | $141.22M | $214.15M | $96.06M | $111.72M | $158.58M | $184.87M |
Sep 30, 2025 | $78.49M | $144.94M | $162.75M | $71.55M | $110.03M | $133.81M | $168.11M |
Jun 30, 2025 | $79.55M | $132.86M | $156.63M | $60.46M | $105.91M | $128.34M | $154.60M |
Mar 31, 2025 | $74.02M | $134.30M | $147.25M | $57.29M | $107.63M | $118.40M | $152.62M |
Dec 31, 2024 | $136.04M | $139.41M | $152.98M | $70.28M | $107.76M | $115.96M | $148.21M |
Sep 30, 2024 | $145.23M | $138.48M | $159.82M | $54.24M | $104.14M | $95.15M | $134.29M |
Jun 30, 2024 | $135.32M | $123.46M | $117.61M | $47.76M | $95.26M | $89.17M | $124.23M |
Mar 31, 2024 | $132.95M | $128.72M | $122.44M | $44.14M | $90.45M | $88.21M | $124.83M |