Affirm Holdings (AFRM) Operating Expenses (2019 - 2026)

Affirm Holdings (AFRM) posted quarterly Operating Expenses of $950.3 million for Q1 2026, up 20.06% year-over-year from $791.5 million in Q1 2025, and down 5.48% on a QoQ basis from $1.0 billion in Q4 2025.

Affirm Holdings (AFRM) Operating Expenses (2019 - 2026) Analysis & Trends

Affirm Holdings (AFRM) has reported Operating Expenses for 8 consecutive years, with $950.3 million the latest figure, recorded in Q1 2026.

  • In Q1 2026, Operating Expenses rose 20.06% year-over-year to $950.3 million; the TTM figure through Mar 2026 stood at $3.6 billion (up 12.95% YoY), while the FY2025 annual figure was $3.3 billion, up 12.69% from the prior year.
  • Operating Expenses came in at $950.3 million for Q1 2026 at Affirm Holdings, down from $1.0 billion in the prior quarter.
  • The five-year high for Operating Expenses was $1.0 billion in Q4 2025, with the low at $581.3 million in Q1 2022.
  • Average Operating Expenses over 5 years is $769.9 million, with a median of $759.1 million recorded in 2022.
  • Across the five-year window, Operating Expenses jumped 70.56% in 2022 and increased 0.55% in 2023, its largest moves.
  • Year by year, Operating Expenses stood at $759.1 million in 2022, then gained by 0.55% to $763.3 million in 2023, then rose by 14.08% to $870.7 million in 2024, then advanced by 15.47% to $1.0 billion in 2025, then decreased by 5.48% to $950.3 million in 2026.
  • According to Business Quant data, Operating Expenses over the past three periods registered $950.3 million, $1.0 billion, and $869.7 million for Q1 2026, Q4 2025, and Q3 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Visa 587.74 Bn 575.34 Bn - 4.00 Bn
2 Mastercard 465.55 Bn 455.34 Bn - 3.49 Bn
3 American Express 238.39 Bn 184.35 Bn 17.43 Bn 13.88 Bn
4 PayPal Holdings 40.24 Bn 30.89 Bn 7.84 Bn 6.87 Bn
5 Affirm Holdings 28.27 Bn 26.55 Bn 261.64 Mn 950.34 Mn
6 SoFi Technologies 23.54 Bn 20.13 Bn 929.25 Mn 891.92 Mn
7 Ally Financial 14.34 Bn 13.89 Bn 1.98 Bn 1.24 Bn
8 Credit Acceptance 7.51 Bn 7.49 Bn 562.70 Mn 422.90 Mn
9 FinVolution 6.22 Bn 4.97 Bn 311.24 Mn -363.39 Mn
10 Sezzle 5.91 Bn 5.79 Bn - 66.50 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 950.34 Mn
Dec 31, 2025 1.01 Bn
Sep 30, 2025 869.68 Mn
Jun 30, 2025 818.35 Mn
Mar 31, 2025 791.53 Mn
Dec 31, 2024 870.70 Mn
Sep 30, 2024 831.10 Mn
Jun 30, 2024 732.65 Mn
Mar 31, 2024 736.95 Mn
Dec 31, 2023 763.26 Mn
Sep 30, 2023 705.99 Mn
Jun 30, 2023 689.65 Mn
Mar 31, 2023 691.01 Mn
Dec 31, 2022 759.09 Mn
Sep 30, 2022 649.09 Mn
Jun 30, 2022 641.36 Mn
Mar 31, 2022 581.31 Mn
Dec 31, 2021 557.21 Mn
Sep 30, 2021 435.46 Mn
Jun 30, 2021 376.03 Mn