Affirm CEO on earnings beat: We have 'absolutely not' lowered lending standards

Affirm's recent financial performance demonstrates significant growth, highlighted by a 43% increase in gross merchandise volume to $10.4 billion and a doubling of active card users. Founder and CEO Max Levchin attributes this acceleration to broad consumer adoption across all retail categories and the successful integration of Affirm as a primary payment tender in both virtual and physical environments. Despite concerns regarding potential credit loosening, delinquency rates remain stable as the company maintains strict underwriting standards for every transaction, including its popular 0% APR loans. The average order value has decreased to approximately $400, signaling a shift toward more frequent, everyday usage rather than occasional high-ticket purchases. Furthermore, the company proactively adjusts its credit models to account for macroeconomic shifts, such as changes in student loan repayment policies, ensuring long-term resilience and credit quality.