Affirm Reports Strong Q2 FY26 Results, Amazon Partnership Renewal, and Bank Charter Application
AFRM sits 85% above its 52-week low of $30.901 on elevated volume (2.3× avg).
Summary
Affirm reported robust Q2 FY26 financial results, including a return to operating profit and strong GMV growth, alongside a renewed long-term partnership with Amazon and a strategic application to establish Affirm Bank.
Key Events · Earnings and Guidance · AFRM
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Strong Q2 FY26 Financial Performance
Affirm reported total revenue of $1.12 billion, a 30% increase year-over-year. The company achieved an operating income of $117.6 million, a significant turnaround from an operating loss of $4.3 million in the prior year. Net income reached $129.6 million, up 61%, with diluted EPS of $0.37, compared to $0.23 in Q2 FY25.
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Robust Growth in Key Operating Metrics
Gross Merchandise Volume (GMV) grew 36% to $13.8 billion. Active consumers increased by 23% to 25.8 million, and transactions per active consumer rose by 20% to 6.4, indicating strong platform engagement and expansion.
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Renewed Long-Term Amazon Partnership
Affirm has entered into a Second Amended and Restated Installment Financing Services Agreement with Amazon, effective February 1, 2026. This agreement extends the partnership for an initial term of five years, followed by successive one-year renewals, solidifying a key strategic relationship.
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Amazon Warrant Exercise Price Adjustment
In November 2025, the exercise price of warrants related to the Amazon commercial agreement was modified from $100 per share to $63.06 per share for warrants vesting from February 2026 onwards. This adjustment, while potentially increasing future dilution, is part of the renewed long-term strategic partnership.
Analysis · AFRM · Finance
Affirm Holdings, Inc. has reported exceptionally strong financial results for Q2 FY26, demonstrating a significant turnaround to profitability and robust growth across key metrics. This positive performance is further bolstered by the renewal and extension of its critical partnership with Amazon, securing a long-term revenue stream. Additionally, the company's application to establish Affirm Bank signals a strategic move towards greater funding flexibility and diversification, which could enhance its competitive position. The dismissal of a class-action lawsuit, despite a pending appeal, also removes a near-term legal overhang. Investors should view this filing as a strong indicator of operational execution and strategic foresight, positioning the company for continued growth and stability.
How filings like this one have moved
In the 30 days to Sep 13, 2026, 42% of the 419 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.47%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, AFRM was trading at $57.30 on NASDAQ in the Finance sector, with a market capitalization of approximately $19.6B. The 52-week trading range was $30.90 to $100.00. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.