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

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

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 was $950.3 million for Q1 2026 at Affirm Holdings, down from $1.0 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $1.0 billion in Q4 2025 to a low of $581.3 million in Q1 2022.
  • Historically, Operating Expenses has averaged $769.9 million across 5 years, with a median of $759.1 million in 2022.
  • The sharpest annual moves came in 2022 and 2023: Operating Expenses jumped 70.56% in 2022, then advanced 0.55% in 2023.
  • A 5-year view of Operating Expenses shows it stood at $759.1 million in 2022, then grew by 0.55% to $763.3 million in 2023, then climbed by 14.08% to $870.7 million in 2024, then increased by 15.47% to $1.0 billion in 2025, then declined by 5.48% to $950.3 million in 2026.
  • The last three Operating Expenses figures came in at $950.3 million (Q1 2026), $1.0 billion (Q4 2025), and $869.7 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Visa 543.83 Bn 531.43 Bn - 4.00 Bn
2 Mastercard 439.96 Bn 429.75 Bn - 3.49 Bn
3 American Express 218.41 Bn 164.37 Bn 17.43 Bn 13.88 Bn
4 Capital One Financial 113.95 Bn 37.46 Bn - 8.46 Bn
5 PayPal Holdings 37.65 Bn 28.31 Bn 7.84 Bn 6.87 Bn
6 Synchrony Financial 24.77 Bn 4.21 Bn - 1.32 Bn
7 Affirm Holdings 21.75 Bn 20.03 Bn 261.64 Mn 950.34 Mn
8 SoFi Technologies 21.04 Bn 17.64 Bn 929.25 Mn 891.92 Mn
9 Ally Financial 13.49 Bn 13.04 Bn 1.98 Bn 1.24 Bn
10 Eason Technology 6.63 Bn 6.62 Bn - -

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