Affirm

Affirm and New York Life are expanding their partnership, with New York Life committing up to $750 million to purchase Affirm’s installment loans through 2026, supporting ~$1.75B in annual loan volume. Building on nearly $2B invested in Affirm’s assets since 2023, this deal reflects a growing trend of insurance companies investing in consumer finance assets for higher yields. Affirm, having facilitated over $100B in transactions with high customer retention, secures financial stability amid economic complexities. The partnership highlights Affirm’s robust model and attracts substantial investment.

Affirm (AFRM) shares jumped 12% after exceeding Wall Street expectations in its fiscal fourth quarter. Earnings reached 20 cents per share with a 33% year-over-year revenue increase to $876 million. Net income was $69.2 million, a stark contrast to last year’s loss. Affirm’s volume surged 44%, driven by partnerships with Shopify and Amazon, despite losing Walmart as a partner. The company issued strong fiscal 2026 guidance, highlighting growth in consumer transactions and the success of its Affirm Card, which saw GMV surge 132%. AI is also boosting merchant volume.

Affirm shares soared after reporting strong fiscal fourth-quarter results, beating expectations with EPS of 20 cents and revenue of $876 million. Revenue jumped 33% year-over-year, and gross merchandise volume increased by 43% to $10.4 billion. The company reported a net income of $69.2 million, a significant improvement from the previous year’s loss. Affirm projects first-quarter revenue between $855 million and $885 million. Despite facing competition from Klarna and Walmart’s shift, Affirm has partnerships with Amazon, Shopify, and Apple.