Affirm Shares Surge After Q4 Beat and Bullish FY26 Outlook

SAN FRANCISCO, Aug. 28, 2025 - Shares of Affirm Holdings Inc. (NASDAQ: AFRM) jumped sharply after the company reported stronger-than-expected fiscal fourth-quarter results and raised its full-year guidance.

Affirm posted Q4 GAAP earnings of $0.20 per share, well above the FactSet consensus of $0.12, on revenue of $876 million versus the $837 million analysts anticipated. Gross merchandise volume for the quarter rose 43% year-over-year to $10.4 billion. Management forecast FY2026 GMV to exceed $46 billion, up from prior guidance of $45.5 billion, while targeting an adjusted operating margin above 26.1%.

The stock closed the regular session at $80.32 on heavy volume of 5.23 million shares, up 3.13% on the day. In after-hours trading, AFRM rallied over 10%, reaching $88.39 as investors cheered both the earnings beat and the robust full-year outlook.

Affirm’s results underscore the continued strength of its “buy now, pay later” platform and the rapid adoption of its direct-to-consumer offerings, notably the Affirm Card. The company achieved an operating profit milestone in Q4, marking another step toward sustained profitability in the competitive BNPL sector.