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| Date | Value |
|---|---|
| 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 |