Affirm CFO: Business Looks 'Incredibly' Strong

Affirm CFO Rob O'Hare reports that the U.S. consumer remains resilient, with the company originating over $100 million in daily loans and seeing repayment data align strictly with internal expectations. Despite broader economic concerns, delinquency rates are stable, and the current interest rate environment supports strong profitability. While Federal Reserve rate cuts may eventually lower credit costs for consumers, Affirm anticipates a lag in material benefits due to its funding structure. Growth remains robust, with a projected 37% increase in Gross Merchandise Volume (GMV) for the September quarter. A key driver is the Affirm Card, which now serves 10% of users and offers higher profitability than standard buy-now-pay-later services by enabling transactions at non-integrated brick-and-mortar merchants. O'Hare views increasing competition and potential industry IPOs as positive developments that provide investors with better comparative data in a consistently competitive market.