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% quarter-over-quarter from $1.0 billion in Q4 2025.
Analysis
Affirm Holdings (AFRM) Operating Expenses (2019 - 2026) Analysis & Trends
Affirm Holdings' Operating Expenses history runs 8 years deep, the most recent figure standing at $950.3 million for 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 for Q1 2026 stood at $950.3 million, 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.
- The 5-year median for Operating Expenses is $759.1 million (2022), against an average of $769.9 million.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses soared 70.56% in 2022, then gained 0.55% in 2023.
- Affirm Holdings' Operating Expenses stood at $759.1 million in 2022, then climbed by 0.55% to $763.3 million in 2023, then advanced by 14.08% to $870.7 million in 2024, then grew by 15.47% to $1.0 billion in 2025, then dropped by 5.48% to $950.3 million in 2026.
- Business Quant data shows AFRM's Operating Expenses at $950.3 million in Q1 2026, $1.0 billion in Q4 2025, and $869.7 million in Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Visa | 680.39 Bn | 668.03 Bn | - | 4.76 Bn |
| 2 | Mastercard | 518.33 Bn | 504.84 Bn | - | 3.69 Bn |
| 3 | American Express | 224.91 Bn | 175.59 Bn | 17.99 Bn | 14.48 Bn |
| 4 | Capital One Financial | 132.31 Bn | 77.60 Bn | - | 9.04 Bn |
| 5 | PayPal Holdings | 46.25 Bn | 35.00 Bn | - | 7.26 Bn |
| 6 | Affirm Holdings | 26.22 Bn | 24.59 Bn | - | 1.02 Bn |
| 7 | Synchrony Financial | 25.37 Bn | 9.17 Bn | - | 1.33 Bn |
| 8 | SoFi Technologies | 23.30 Bn | 20.18 Bn | 1.02 Bn | 1.00 Bn |
| 9 | Ally Financial | 12.85 Bn | 5.01 Bn | 2.08 Bn | 1.32 Bn |
| 10 | FirstCash Holdings | 9.51 Bn | 9.34 Bn | 533.67 Mn | 406.67 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.02 Bn |
| 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 |