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Affirm Holdings, Inc.

AFRM · Personal Credit Institutions · 295.3M shares · +58%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$452M (gross $109K, SBC $452M)

Reference price $65.00 · est. market cap ~$19.2B — last insider sale, 2026-05-13 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

C55

BNPL lender that reached its first GAAP profit but still shows mid-pack returns and structurally high funding/credit risk.

Strengths

Risks

Notable findings

Quarterly revenue

2025-06-30 · $876M2025-09-30 · $933M2025-12-31 · $1.1B2026-03-31 · $1.0B

Last 4 quarters · from SEC filings.

Key metrics

Operating margin
-2.7%
Net margin
1.6%
Return on equity
1.7%
Return on assets
0.5%
ROIC
-0.6%
Revenue growth (QoQ)
-7.5%
Debt / equity
2.5×
Net debt / EBITDA
45.4×
Free cash flow
$602M
EBITDA
$138M
Tangible book value
$2.5B
Cash & investments
$1.4B
Stock comp / revenue
10.0%

Insider transactions · last 18 months

DateInsiderTypeSharesPrice
2026-06-01O'Hare RobertTax withheld8.4K$72.91
2026-06-01Linford MichaelTax withheld4.7K$72.91
2026-06-01Linford MichaelOption exercise12K
2026-06-01O'Hare RobertOption exercise16K
2026-06-01Michalek LiborOption exercise11K
2026-06-01Michalek LiborTax withheld5.8K$72.91
2026-06-01Adkins KatherineOption exercise11K
2026-06-01Adkins KatherineTax withheld4.8K$72.91
2026-06-01Jiyane SipheleleOption exercise12K
2026-06-01Jiyane SipheleleTax withheld4.5K$72.91
2026-05-13Watson Noel BertramSell2.0K$65.00
2026-05-01Adkins KatherineTax withheld634$67.54
2026-05-01Michalek LiborOption exercise2.3K
2026-05-01Michalek LiborTax withheld1.1K$67.54
2026-05-01Adkins KatherineOption exercise1.4K
2026-05-01Linford MichaelOption exercise2.3K
2026-05-01Linford MichaelTax withheld974$67.54
2026-04-14Watson Noel BertramSell2.0K$55.00
2026-04-07Quarles Christa SOther54K
2026-04-02Quarles Christa SOther60K
2026-04-02Quarles Christa SConversion60K
2026-04-01Michalek LiborOption exercise2.3K
2026-04-01Michalek LiborTax withheld838$45.54
2026-04-01Linford MichaelOption exercise2.3K
2026-04-01Linford MichaelTax withheld975$45.54
2026-04-01Quarles Christa SOther3.5K
2026-04-01Adkins KatherineOption exercise1.4K
2026-04-01Adkins KatherineTax withheld634$45.54
2026-03-01Michalek LiborTax withheld4.1K$46.98
2026-03-01O'Hare RobertOption exercise18K
2026-03-01O'Hare RobertTax withheld9.4K$46.98
2026-03-01Michalek LiborOption exercise11K
2026-03-01Jiyane SipheleleOption exercise12K
2026-03-01Jiyane SipheleleTax withheld4.7K$46.98
2026-03-01Adkins KatherineOption exercise11K
2026-03-01Adkins KatherineTax withheld4.8K$46.98
2026-03-01Linford MichaelOption exercise12K
2026-03-01Linford MichaelTax withheld3.8K$46.98
2026-02-09Linford MichaelOption exercise20K$49.00
2026-02-01Adkins KatherineOption exercise1.4K
2026-02-01Adkins KatherineTax withheld648$60.30
2026-02-01Linford MichaelOption exercise2.3K
2026-02-01Linford MichaelTax withheld628$60.30
2026-02-01Michalek LiborOption exercise2.3K
2026-02-01Michalek LiborTax withheld838$60.30
2026-01-30Linford MichaelOption exercise20K$49.00
2026-01-05Levchin Max ROption exercise667K$49.00
2026-01-05Levchin Max RSell554K$80.52
2026-01-05Levchin Max RSell113K$81.12
2026-01-05O'Hare RobertOption exercise3.7K$41.80
2026-01-05O'Hare RobertOption exercise11K$17.19
2026-01-05O'Hare RobertOption exercise5.1K$22.30
2026-01-05O'Hare RobertOption exercise9.7K$23.35
2026-01-05O'Hare RobertOption exercise4.0K$44.06
2026-01-05O'Hare RobertOption exercise2.5K$57.59
2026-01-05O'Hare RobertSell36K$80.00
2026-01-01Adkins KatherineOption exercise1.7K
2026-01-01Adkins KatherineTax withheld864$74.43
2026-01-01Linford MichaelOption exercise2.3K
2026-01-01Linford MichaelTax withheld753$74.43
2026-01-01Michalek LiborOption exercise2.3K
2026-01-01Michalek LiborTax withheld960$74.43
2025-12-15GALANTI RICHARD AGrant3.6K
2025-12-15Sanchez Rodriquez ManuelGrant3.6K
2025-12-15Watson Noel BertramGrant3.6K
2025-12-15Hughes BrianGrant3.6K
2025-12-15Liew JeremyGrant3.6K
2025-12-15Quarles Christa SGrant3.6K
2025-12-15Reses Jacqueline DGrant3.6K
2025-12-03O'Hare RobertSell8.2K$70.00
2025-12-01Linford MichaelOption exercise12K
2025-12-01Linford MichaelTax withheld4.7K$69.06
2025-12-01O'Hare RobertOption exercise19K
2025-12-01O'Hare RobertTax withheld9.9K$69.06
2025-12-01Michalek LiborOption exercise11K
2025-12-01Michalek LiborTax withheld5.8K$69.06
2025-12-01Adkins KatherineOption exercise11K
2025-12-01Adkins KatherineTax withheld4.9K$69.06
2025-12-01Jiyane SipheleleOption exercise12K
2025-12-01Jiyane SipheleleTax withheld4.5K$69.06
2025-11-01Adkins KatherineOption exercise1.7K
2025-11-01Adkins KatherineTax withheld772$71.88
2025-11-01Linford MichaelOption exercise2.3K
2025-11-01Linford MichaelTax withheld983$71.88
2025-11-01Michalek LiborOption exercise2.3K
2025-11-01Michalek LiborTax withheld1.2K$71.88
2025-10-01Linford MichaelOption exercise2.3K
2025-10-01Linford MichaelTax withheld985$74.42
2025-10-01Michalek LiborOption exercise2.3K
2025-10-01Michalek LiborTax withheld1.2K$74.42
2025-10-01Adkins KatherineOption exercise1.7K
2025-10-01Adkins KatherineTax withheld773$74.42
2025-09-22Levchin Max ROption exercise652K$49.00
2025-09-22Levchin Max RSell186K$88.46
2025-09-22Levchin Max RSell260K$89.23
2025-09-22Levchin Max RSell203K$90.02
2025-09-22Levchin Max RSell3.6K$90.98
2025-09-15Jiyane SipheleleSell12K$85.42
2025-09-05Linford MichaelGift78K
2025-09-04Jiyane SipheleleOption exercise14K$1.68
2025-09-04Jiyane SipheleleOption exercise11K$5.39
2025-09-04Jiyane SipheleleSell26K$90.71
2025-09-02O'Hare RobertSell12K$82.24
2025-09-02O'Hare RobertSell8.6K$83.27
2025-09-02O'Hare RobertSell6.7K$84.09
2025-09-02O'Hare RobertSell4.0K$85.28
2025-09-02O'Hare RobertOption exercise933$41.80
2025-09-02O'Hare RobertOption exercise2.8K$17.19
2025-09-02O'Hare RobertOption exercise1.3K$22.30
2025-09-02O'Hare RobertOption exercise2.4K$23.35
2025-09-02O'Hare RobertOption exercise626$57.59
2025-09-01Michalek LiborTax withheld12K$88.46
2025-09-01Linford MichaelOption exercise25K
2025-09-01Linford MichaelTax withheld9.9K$88.46
2025-09-01O'Hare RobertOption exercise23K
2025-09-01O'Hare RobertTax withheld12K$88.46
2025-09-01O'Hare RobertOption exercise12K$44.06
2025-09-01Adkins KatherineOption exercise17K
2025-09-01Adkins KatherineTax withheld7.6K$88.46
2025-09-01Jiyane SipheleleOption exercise12K
2025-09-01Jiyane SipheleleTax withheld4.5K$88.46
2025-09-01Michalek LiborOption exercise24K
2025-08-29Adkins KatherineOption exercise37K$23.35
2025-08-29Adkins KatherineSell37K$95.00
2025-08-29Jiyane SipheleleSell10K$92.00
2025-08-29Jiyane SipheleleSell13K$100.00
2025-08-29Quarles Christa SSell10K$92.00
2025-08-29Quarles Christa SSell5.0K$95.00
2025-08-28Levchin Max ROption exercise499K$49.00
2025-08-28Levchin Max RSell499K$80.17
2025-08-22O'Hare RobertOption exercise6.5K$41.80
2025-08-22O'Hare RobertOption exercise21K$49.00
2025-08-22O'Hare RobertOption exercise20K$17.19
2025-08-22O'Hare RobertOption exercise9.0K$22.30
2025-08-22O'Hare RobertOption exercise17K$23.35
2025-08-22O'Hare RobertOption exercise4.6K$57.59
2025-08-22O'Hare RobertSell78K$80.09
2025-08-22Linford MichaelOption exercise184K$5.39
2025-08-22Linford MichaelSell184K$80.09
2025-08-22Levchin Max ROption exercise167K$49.00
2025-08-22Levchin Max RSell167K$80.10
2025-08-18O'Hare RobertSell11K$80.00
2025-08-18O'Hare RobertOption exercise10K$49.00
2025-08-18Linford MichaelOption exercise11K$5.39
2025-08-18Linford MichaelSell11K$80.00
2025-08-18Levchin Max ROption exercise15K$49.00
2025-08-18Levchin Max RSell15K$80.05
2025-08-18O'Hare RobertOption exercise991$57.59
2025-08-06Adkins KatherineSell6.5K$75.00
2025-08-06Adkins KatherineOption exercise6.5K$23.33
2025-08-05Adkins KatherineSell1.3K$75.00
2025-08-05Adkins KatherineOption exercise1.3K$23.33
2025-08-04Adkins KatherineOption exercise59K$23.33
2025-08-04Adkins KatherineSell59K$75.02
2025-08-04Jiyane SipheleleSell16K$75.00
2025-08-01Adkins KatherineOption exercise1.7K
2025-08-01Michalek LiborOption exercise2.3K
2025-08-01Michalek LiborTax withheld1.2K$66.41
2025-08-01Linford MichaelOption exercise2.3K
2025-08-01Linford MichaelTax withheld988$66.41
2025-08-01Adkins KatherineTax withheld773$66.41
2025-07-07Adkins KatherineOption exercise28K$8.80
2025-07-07Adkins KatherineOption exercise29K$22.30
2025-07-07Adkins KatherineSell57K$70.27
2025-07-07O'Hare RobertSell20K$70.03
2025-07-01O'Hare RobertOption exercise3.8K
2025-07-01Linford MichaelOption exercise8.9K
2025-07-01Linford MichaelTax withheld3.8K$67.10
2025-07-01Liew JeremyGrant670
2025-07-01Reses Jacqueline DGrant670
2025-07-01Adkins KatherineOption exercise1.7K
2025-07-01Adkins KatherineTax withheld773$67.10
2025-07-01Michalek LiborOption exercise11K
2025-07-01Michalek LiborTax withheld5.5K$67.10
2025-07-01GALANTI RICHARD AGrant670
2025-07-01GALANTI RICHARD AGrant7.5K
2025-07-01Quarles Christa SGrant670
2025-07-01Quarles Christa SSell754$67.43
2025-07-01O'Hare RobertTax withheld1.9K$67.10
2025-06-16Watson Noel BertramSell1.3K$60.50
2025-06-16Watson Noel BertramSell1.2K$61.23
2025-06-01O'Hare RobertOption exercise15K
2025-06-01O'Hare RobertTax withheld7.4K$51.90
2025-06-01Michalek LiborOption exercise2.3K
2025-06-01Michalek LiborTax withheld1.2K$51.90
2025-06-01Jiyane SipheleleOption exercise13K
2025-06-01Jiyane SipheleleTax withheld4.8K$51.90
2025-06-01Linford MichaelOption exercise2.3K
2025-06-01Linford MichaelTax withheld993$51.90
2025-06-01Adkins KatherineOption exercise7.0K
2025-06-01Adkins KatherineTax withheld2.7K$51.90
2025-05-01Rabois KeithSell4.3K$50.13
2025-05-01Rabois KeithSell8.9K$51.16
2025-05-01Rabois KeithSell2.9K$51.83
2025-05-01Linford MichaelOption exercise2.3K
2025-05-01Linford MichaelTax withheld995$49.75
2025-05-01Michalek LiborOption exercise2.3K
2025-05-01Michalek LiborTax withheld1.2K$49.75
2025-05-01Adkins KatherineOption exercise1.9K
2025-05-01Adkins KatherineTax withheld568$49.75
2025-04-01Rabois KeithSell1.5K$46.35
2025-04-01Rabois KeithSell4.6K$44.77
2025-04-01Rabois KeithSell10.0K$45.56
2025-04-01Michalek LiborOption exercise11K
2025-04-01Michalek LiborTax withheld5.3K$45.51
2025-04-01O'Hare RobertOption exercise3.8K
2025-04-01O'Hare RobertTax withheld1.9K$45.51
2025-04-01Adkins KatherineOption exercise1.9K
2025-04-01Adkins KatherineTax withheld567$45.51
2025-04-01Linford MichaelOption exercise8.9K
2025-04-01Linford MichaelTax withheld3.3K$45.51
2025-03-17Watson Noel BertramSell535$44.74
2025-03-17Watson Noel BertramSell500$43.56
2025-03-17Watson Noel BertramSell498$47.73
2025-03-17Watson Noel BertramSell767$46.70
2025-03-17Watson Noel BertramSell200$45.73
2025-03-03Rabois KeithSell2.7K$64.81
2025-03-03Rabois KeithSell200$66.40
2025-03-03Rabois KeithSell5.5K$61.73
2025-03-03Rabois KeithSell2.1K$63.87
2025-03-03Rabois KeithSell5.6K$65.72
2025-03-01Linford MichaelOption exercise2.3K
2025-03-01Jiyane SipheleleTax withheld3.4K$64.15
2025-03-01Jiyane SipheleleOption exercise13K
2025-03-01Linford MichaelTax withheld650$64.15
2025-03-01O'Hare RobertOption exercise15K
2025-03-01O'Hare RobertTax withheld6.3K$64.15
2025-03-01Adkins KatherineOption exercise7.0K
2025-03-01Adkins KatherineTax withheld2.1K$64.15
2025-03-01Michalek LiborOption exercise2.3K
2025-03-01Michalek LiborTax withheld836$64.15
2025-02-14Quarles Christa SSell5.0K$80.00
2025-02-03Rabois KeithSell8.2K$60.68
2025-02-03Rabois KeithSell5.6K$60.00
2025-02-03Rabois KeithSell1.8K$58.52
2025-02-03Rabois KeithSell500$57.93
2025-02-01Michalek LiborTax withheld836$61.07
2025-02-01Adkins KatherineOption exercise1.9K
2025-02-01Adkins KatherineTax withheld584$61.07
2025-02-01Linford MichaelOption exercise2.3K
2025-02-01Linford MichaelTax withheld652$61.07
2025-02-01Michalek LiborOption exercise2.3K
2025-01-03O'Hare RobertOption exercise932$41.80
2025-01-03O'Hare RobertSell300$63.83
2025-01-03O'Hare RobertSell2.1K$65.19
2025-01-03O'Hare RobertSell799$66.23
2025-01-02Rabois KeithSell1.9K$63.41
2025-01-02O'Hare RobertOption exercise2.8K$17.19
2025-01-02O'Hare RobertOption exercise1.3K$22.30
2025-01-02O'Hare RobertOption exercise2.4K$23.35
2025-01-02O'Hare RobertSell2.4K$61.87
2025-01-02O'Hare RobertSell4.0K$62.46
2025-01-02O'Hare RobertSell200$63.49
2025-01-02Rabois KeithSell7.5K$61.87
2025-01-02Rabois KeithSell6.7K$62.51
2025-01-01O'Hare RobertTax withheld1.5K$60.90
2025-01-01Linford MichaelTax withheld2.7K$60.90
2025-01-01Michalek LiborOption exercise11K
2025-01-01Michalek LiborTax withheld4.0K$60.90
2025-01-01Adkins KatherineOption exercise1.9K
2025-01-01Adkins KatherineTax withheld668$60.90
2025-01-01O'Hare RobertOption exercise3.8K
2025-01-01Linford MichaelOption exercise8.9K

All non-derivative Form 4 activity (SEC), newest first.

Notable events (8-K)

DateItems
2026-06-25Material agreementExec/director changeExhibitsfiling ↗
2026-05-07ResultsExhibitsfiling ↗
2026-02-05ResultsExhibitsfiling ↗
2026-01-16Exec/director changefiling ↗
2025-12-18Shareholder votefiling ↗
2025-11-06Material agreementResults3.02Exhibitsfiling ↗
2025-09-22Exec/director changefiling ↗
2025-08-28ResultsExhibitsfiling ↗

Recent filings

FormFiledPeriodAccession
8-K2026-06-252026-06-180001628280-26-045491 ↗
10-Q2026-05-072026-03-310001628280-26-032294 ↗
8-K2026-05-072026-05-070001628280-26-032105 ↗
10-Q2026-02-052025-12-310001628280-26-005855 ↗
8-K2026-02-052026-02-050001628280-26-005772 ↗
8-K2026-01-162026-01-130001628280-26-002442 ↗
8-K2025-12-182025-12-150001628280-25-057930 ↗
10-Q2025-11-062025-09-300001628280-25-050295 ↗
8-K2025-11-062025-11-020001628280-25-050159 ↗
8-K2025-09-222025-09-180001628280-25-042335 ↗
8-K2025-08-282025-08-280001820953-25-000078 ↗
10-K2025-08-282025-06-300001820953-25-000080 ↗