Affirm Holdings (AFRM) Operating Expenses (2019 - 2026)
Affirm Holdings' Operating Expenses was $1.02 billion in fiscal Q4 2026 (quarter ended Jun 30, 2026), up 24.5% from $818.35 million a year earlier and up 7.2% from the prior quarter.
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Analysis
Affirm Holdings (AFRM) Operating Expenses (2019 - 2026) Analysis & Trends
For FY2026 (ended Jun 30, 2026), Operating Expenses at Affirm Holdings came in at $3.84 billion, up 16.1% from FY2025.
- Operating Expenses has now increased for seven consecutive fiscal years, with a five-year compound annual growth rate of 25.1% (FY2021 to FY2026).
- In earlier fiscal years, Operating Expenses was $3.31 billion in FY2025 (+12.7%), $2.94 billion in FY2024 (+5.4%), $2.79 billion in FY2023 (+25.9%) and $2.22 billion in FY2022 (+76.6%).
- The fiscal Q4 2026 figure marks the highest quarterly Operating Expenses in data going back to fiscal Q2 2020.
- Compared with a year earlier, Operating Expenses has increased for 23 straight quarters, with growth averaging 14.4% over the last eight quarters.
- The year-over-year growth in Operating Expenses has ranged between 0.5% (fiscal Q2 2024) and 141.4% (fiscal Q2 2022) over the last five years.
- Per Business Quant data, AFRM's Operating Expenses in the three fiscal quarters before Q4 2026 was $950.34 million (Q3 2026), $1.01 billion (Q2 2026) and $869.68 million (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.07 Bn | 28.75 Bn | - | 2.50 Bn |
| 2 | Orix | 41.51 Bn | 42.01 Bn | 4.68 Bn | 4.66 Bn |
| 3 | Royalty Pharma | 32.73 Bn | 32.65 Bn | - | 541.02 Mn |
| 4 | Affirm Holdings | 27.21 Bn | 20.90 Bn | - | 1.02 Bn |
| 5 | Synchrony Financial | 23.66 Bn | -44.31 Bn | - | 1.33 Bn |
| 6 | Federal National Mortgage Association Fannie Mae | 23.53 Bn | 23.53 Bn | - | 2.07 Bn |
| 7 | Royal Gold | 20.00 Bn | 19.23 Bn | 390.45 Mn | 173.18 Mn |
| 8 | Annaly Capital Management | 13.74 Bn | 4.84 Bn | - | 58.19 Mn |
| 9 | Ares Capital | 13.33 Bn | 10.76 Bn | - | - |
| 10 | Federal Home Loan Mortgage | 11.90 Bn | -6.84 Bn | - | 2.10 Bn |
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 |
API Access
Affirm Holdings Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=AFRM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "AFRM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=AFRM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();