Income StatementBalance SheetCash FlowSegments
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Affirm Holdings, Inc. Cash Flow Statement

Operating, investing, and financing cash movements

Affirm Holdings, Inc. generated $1.0B in operating cash flow over the trailing twelve months. After $222.6M in capital expenditures, free cash flow was $786.9M. Free cash flow increased 0.3% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$1.0BNet Cash From Investing (TTM)-$2.0BNet Cash From Financing (TTM)$867.7MCapital Expenditures (TTM)$222.6MDepreciation And Amortization Cf (TTM)$280.0MNet Change In Cash (TTM)$714.2M
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$21.6B
P/E Ratio56.41
ROE11.49%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)-$58.0K-$12.1M-$3.7M———
Amortization of debt issuance costs$6.9M$10.3M$7.1M$6.8M$7.2M$6.7M
Other non-cash income (expense)-$58.0K-$12.1M-$3.7M———
Change in accounts payable——$41.8M-$24.8M-$791.0K—
Change in accounts receivable-$102.7M$19.9M$208.8M-$138.9M-$11.1M-$35.6M
Change in accrued liabilities——-$30.1M-$3.6M$8.1M$29.1M
Change in other assets$20.6M——-$31.0M$70.0M—
Other working capital changes-$58.0K-$12.1M-$3.7M———
Depreciation and amortization$54.9M$59.5M$64.0M$65.3M$75.6M$75.1M
Other Non-Cash Income (Expense)-$58.0K-$12.1M-$3.7M———
Loans held for sale activity$1.0B$789.3M$338.2M$749.2M$728.2M$612.1M
Loss on extinguishment of debt$62.8M——$1.5M$42.0K—
Other Non-cash Income (Expense)-$58.0K-$12.1M-$3.7M———
Other Non-cash Income (Expense)-$58.0K-$12.1M-$3.7M———
Net cash from operating activities$312.0M$210.4M$74.6M$374.6M$173.7M$386.5M
Net income$80.4M$2.8M$69.2M$80.7M$129.6M$102.9M
Other non-cash income (expense)-$58.0K-$12.1M-$3.7M———
Accretion (Amortization) Of Discounts And Premiums, Financing Receivables$59.2M$60.5M$62.0M$65.1M$78.9M$81.5M
Accrued Interest On Debt Securities Available For Sale$10.8M$7.6M—$10.0M$8.3M$7.8M
Amortization expense related to capitalized debt issuance costs$6.9M$10.3M$7.1M$6.8M$7.2M$6.7M
Amortization of commercial agreement assets$14.3M$10.9M$8.0M$8.1M$4.8M$3.0M
Gain (Loss) On Changes In Fair Value Of Assets And Liabilities-$3.0M-$834.0K-$1.7M$110.0K-$2.0M—
Accrued expenses and other liabilities——-$30.1M-$3.6M$8.1M$29.1M
Increase (Decrease) In Commercial Agreement Assets-$86.8M-$36.1M-$41.5M-$41.0M-$61.2M-$40.5M
Increase (Decrease) in Other Operating Assets$20.6M——-$31.0M$70.0M—
Payable to third-party loan buyers$5.2M$19.8M$34.7M-$17.9M-$63.5M—
Other Noncash Income (Expense)-$58.0K-$12.1M-$3.7M———
Payment for Origination and Purchase, Loan, Held-for-Sale$1.0B$789.3M$338.2M$749.2M$728.2M$612.1M
Proceeds From Sale Of Loans Held For Sale$1.0B$789.4M$338.2M$748.8M$727.9M$611.9M
Other Non-cash Income and Expense-$58.0K-$12.1M-$3.7M———
Other Non-Cash Adjustments-$58.0K-$12.1M-$3.7M———
Other Non-Cash Income and Expense-$58.0K-$12.1M-$3.7M———
Provision for credit losses$153.0M$147.3M$156.6M$162.8M$214.2M$196.5M
Stock-based compensation$86.1M$75.6M$65.5M$85.9M$77.8M$73.8M
Change in Interest Payable$1.0M-$2.3M$2.8M$1.6M$3.4M—

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Debt Extinguishment Costs$892.8M——$24.8M$944.0K—
Payments of Debt Extinguishment Costs$892.8M——$24.8M$944.0K—
Proceeds from Lines of Credit$4.7B$6.1B$7.2B$8.0B$9.3B$10.1B
Proceeds from Long-term Lines of Credit$4.7B$6.1B$7.2B$8.0B$9.3B$10.1B
Proceeds from issuance of debt$230.0M$230.0M$230.0M——$0.0
Repayments of debt$4.3B$6.4B$7.5B$7.8B$8.0B$10.7B
Cost of Issuance of Treasury Stock$95.3M$83.0M—$112.3M$80.9M$58.0M
Payments Of Debt Issuance Costs$18.7M$19.7M$6.5M$9.5M$1.2M$20.2M
Proceeds from issuances of debt$230.0M$230.0M$230.0M——$0.0
Proceeds from exercise of common stock options and warrants and contributions to ESPP$35.8M$10.5M$10.8M$94.8M$9.3M$38.6M
Repayments of Long-Term Lines of Credit$4.3B$6.4B$7.5B$7.8B$8.0B$10.7B
Payment for Debt Extinguishment Costs$892.8M——$24.8M$944.0K—
Proceeds from Secured Long-Term Debt$0.0$1.0B$750.0M$1.1B—$1.8B
Repayments of Secured Debt$0.0$900.0M$0.0$1.1B—$1.3B
Proceeds from revolving credit facility$4.7B$6.1B$7.2B$8.0B$9.3B$10.1B
Net cash from financing activities$144.1M—$387.3M$110.1M$1.2B—
Payment of debt issuance costs$18.7M$19.7M$6.5M$9.5M$1.2M$20.2M
Payment for Debt Extinguishment Costs$892.8M——$24.8M$944.0K—
Repurchases of common stock$62.5M$62.5M$62.5M——$0.0
Payment for Debt Extinguishment or Prepayment Cost$892.8M——$24.8M$944.0K—
Payments on Revolving Credit Facilities$4.3B$6.4B$7.5B$7.8B$8.0B$10.7B
Repayments of Long-term Lines of Credit$4.3B$6.4B$7.5B$7.8B$8.0B$10.7B
Payment for debt extinguishment or prepayment costs$892.8M——$24.8M$944.0K—
Repayments of lines of credit$4.3B$6.4B$7.5B$7.8B$8.0B$10.7B
Proceeds from Issuance of Secured Debt$0.0$1.0B$750.0M$1.1B—$1.8B
Premiums Paid to Extinguish Debt$892.8M——$24.8M$944.0K—

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Operating lease payments$4.2M$4.2M$4.1M$4.3M$4.2M$4.3M
ROU assets obtained - operating leases—$7.4M————
Income taxes paid$656.0K$1.3M$304.0K$1.7M$484.0K$1.6M
Interest paid$101.6M$101.7M$101.6M$103.3M$102.5M$108.4M
ROU Asset Obtained for Lease Liability—$7.4M————
Cash Paid for Lease Liabilities$4.2M$4.2M$4.1M$4.3M$4.2M$4.3M
Operating lease payments$4.2M$4.2M$4.1M$4.3M$4.2M$4.3M
Operating Lease Payments$4.2M$4.2M$4.1M$4.3M$4.2M$4.3M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Payments to Acquire Finance Receivables$8.7B$7.7B$9.8B$9.8B$12.7B$10.9B
Capital expenditures$43.9M$53.0M$51.1M$54.4M$55.7M$61.4M
Collections of finance receivables$4.5B$5.0B$5.0B$5.4B$5.9B$6.7B
Payments to acquire finance receivables$8.7B$7.7B$9.8B$9.8B$12.7B$10.9B
Payments to Acquire Finance Receivables$8.7B$7.7B$9.8B$9.8B$12.7B$10.9B
Proceeds from Collection of Finance Receivables$4.5B$5.0B$5.0B$5.4B$5.9B$6.7B
Payment For Other Investing Activity$1.0M$42.0M$1.0M$0.0$0.0$279.0K
Other investing inflows$186.0K$64.8M$0.0$61.0K$80.0K$158.0K
Proceeds From Sale And Maturity Of Available For Sale Securities$504.9M$263.8M$231.4M$216.4M$210.3M$303.5M
Proceeds from Sale of Finance Receivables$3.6B$2.9B$4.4B$4.3B$5.3B$4.5B
Proceeds from sale of finance receivables$3.6B$2.9B$4.4B$4.3B$5.3B$4.5B
Net cash from investing activities-$89.1M$0.0-$454.5M-$139.6M-$1.4B—
Net change in loans and leases$8.7B$7.7B$9.8B$9.8B$12.7B$10.9B
Proceeds from maturities/sales of investments$504.9M$263.8M$231.4M$216.4M$210.3M$303.5M
Purchases of investments$48.2M$368.7M$270.3M$146.5M$67.9M$330.5M
Payments to Acquire Finance Receivables$8.7B$7.7B$9.8B$9.8B$12.7B$10.9B
Proceeds from Collection of Finance Receivables$4.5B$5.0B$5.0B$5.4B$5.9B$6.7B
Receipts from Customer Financing Assets$4.5B$5.0B$5.0B$5.4B$5.9B$6.7B
Proceeds from Collection of Finance Receivables$4.5B$5.0B$5.0B$5.4B$5.9B$6.7B

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$268.1M$157.4M$23.5M$320.2M$118.0M$325.1M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$14.5M-$1.5M—-$3.9M—-$3.6M
Net increase (decrease) in cash$352.5M$0.0$20.5M$341.2M—$379.7M
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount$44.7M$44.4M$39.9M$52.9M$46.6M$41.6M
Leased assets obtained in exchange for operating lease liabilities—$7.4M————
Securities retained under unconsolidated securitization transactions——$42.8M———
Issuance of common stock for the acquisition of Ansys$0.0$0.0$0.0———