Summary by Futu AI
Affirm Holdings, a leading payment network company, has released its annual financial report for the fiscal year ending June 30, 2024. The report showcases a significant increase in total revenue, net, which rose by 46% to $2.32 billion from $1.59 billion in the previous year. Operating expenses saw a modest increase of 5% to $2.94 billion. Despite this, the company reduced its operating loss by 49% to $615.85 million, down from $1.20 billion. Net loss also improved by 47%, decreasing to $517.76 million from $985.35 million. The company attributes its financial performance to the growth in Gross Merchandise Volume (GMV), which surged by 32% to $26.6 billion, driven by increased volume at top merchants and platform partners, as well as a rise in active consumers to 18.7 million and transactions per active consumer to 4.9. Affirm's...Show More