EarningsQ4 2026 Earnings Report
MX:AFRM Q4 2026 EPS Results
Actual EPS$79.77
Consensus EPS$5.99
Beat/MissBeat by +$73.78
One Year Ago EPS$3.45
MX:AFRM Q4 2026 Revenue Results
Actual Revenue$18.81B
Expected Revenue$19.11B
Beat/MissMissed by -$300.01M
YoY Revenue Growth+33.55%
Earnings Announcement Details
QuarterQ4 2026
Date08/27/2026
TimeAfter Close
Conference CallThursday, August 27, 2026
MX:AFRM Upcoming Earnings
Affirm Holdings's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q4 2026 Earnings Call Audio
MX:AFRM Q4 2026 Earnings Call
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Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operating momentum: record quarterly profitability, robust product-level growth (Pay-in-X +41%, Affirm Card engagement ~2x spend, services volume ~2x YoY), healthy capital markets execution, and disciplined credit management. Challenges highlighted were largely execution and timing related — improving in-store flows, finishing longer-term product builds (Edge, leasing), and typical funding/quarterly variability (ABS/gain-on-sale, tax-rate volatility). Overall the positives around profitability, product traction, and controlled credit risks materially outweighed the operational and timing headwinds.Company Guidance
Record Profitability
Management stated this was Affirm's most profitable quarter ever (fiscal Q4 FY2026), delivered even without a tax allowance release, highlighting strong profitability execution across the core business.
Pay-in-X Growth
Pay-in-X growth accelerated, with management calling out ~41% growth for the product, and merchants increasingly adopting Pay-in-X/Pay-in-4 as evergreen programs.
Interest-Bearing Product Mix
Direct-to-consumer product mix is skewing toward interest-bearing loans, with management reporting they run 'north of 80%' interest-bearing on DTC products, supporting revenue mix moves.
Affirm Card Traction
Affirm Card use is expanding: card holders spend ~2x versus a typical customer, ~30% of card transactions occur offline, and attach rate sits at ~19% of active accounts — indicating strong engagement and monetization potential.
Services Vertical Acceleration
Services vertical volume accelerated materially (interviewer noted it 'almost doubled year-over-year'), driven by several large services platform wins and early-stage integrations.
International Early Wins (UK)
UK rollout showing solid early results and positive merchant and consumer reception; management described initial merchant feedback as a 'love fest' and reported no meaningful competitive pushback so far.
Debt Capital Markets and Funding
CFO highlighted strong execution in debt capital markets and a funding profile expected to support fiscal '27; guidance for revenue less transaction costs (~4.16% for FY27) is underpinned by the current funding mix and take rates.
Gain on Sale / ABS Funding Contribution
Gain-on-sale revenue was a standout growth line in the quarter with a nonconsolidated ABS transaction contributing. Management expects a similar funding plan into FY27 (comparable number of ABS deals as FY26).
Disciplined Credit Performance
Management reiterated consumer credit remains healthy with no signs of stress; they emphasized tight, dynamic control over underwriting (approvals and loss targets managed in near real time) and a willingness to slow growth before accepting credit deterioration.
Leadership and Strategic Focus
Executive promotions (Michael Linford to President, Pat Suh to SVP/GM Global Markets) announced to tighten execution; CEO will focus on longer-term product innovation (initiatives expected to surface in fiscal '28/'29).
MX:AFRM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed