Affirm Raises GMV Outlook as Card Volume More Than Doubles

Affirm lifted its full-year gross merchandise volume outlook to more than $65.25 billion, from a previous forecast of more than $64 billion, as customers increasingly used its debit card to pay in installments. The change followed a 34% rise in first-quarter GMV to $14.4 billion.

November 6, 2026, 01:12 AM 629 0

Affirm Raises GMV Outlook as Card Volume More Than Doubles

Profit rose to $164.2 million, or 47 cents a share, from $80.7 million, or 23 cents a share, a year earlier. Analysts had expected 38 cents a share. Revenue increased 35% to $1.26 billion, exceeding FactSet-surveyed analysts’ forecast of $1.21 billion.

Affirm said it has been working to broaden its business across merchants and platform partners and grow its direct-to-consumer card business. GMV from its five largest partners fell by four percentage points to 40% of the total.

The Affirm Card generated nearly a quarter of GMV. Card-related GMV more than doubled to $3.3 billion, and the number of active cardholders also doubled. Total transactions rose 34%, while average order value slipped 1% to $258.

For the current second quarter, Affirm expects GMV of $17.8 billion to $18.2 billion and revenue of $1.44 billion to $1.47 billion. Analysts project GMV of $17.74 billion and revenue of $1.43 billion.

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