Affirm Results Presentation Deck
Income Statement Reconciliations
Three Months Ended
June 30, 2020
Income Statement Reconciliations ($K)
Total Revenue
Operating Expenses
Loss on loan purchase commitment
Provision for credit losses
Funding costs
Processing and servicing
Total Transaction Costs
September 30, 2019
Plus: Amortization of commercial
Plus: Other costs*
Adjusted Operating Income (Loss)
$
Technology and data analytics
Sales and marketing
General and administrative
Total Operating Expenses
Operating Income (Loss)
Reconciliation from Revenue to Revenue Less Transaction
Total Revenue
$
Less: Loss on loan purchase commitment
Less: Provision for credit losses
Less: Funding costs
Less: Processing and servicing
Revenue Less Transaction Costs
Plus: Provision for credit losses
Revenue Less Transaction Costs ex-
$
4. Metrics are unaudited
$
$
$
December 31, 2019 March 31, 2020
$
87,947 $
19,961 $
24,844
8,128
9,695
62,628 $
25,368
5,219
27,704
120,919 $
$
25,319
24,844
50,163 $
129,976 $
(32,972) $
2,112
8,425
42,661
30,178
8,167
11,652
92,658
31,612
7,651
(22,435) $
$
$
Reconciliation from from Operating Income (Loss) to Adjusted Operating Income (Loss)
Operating Income (Loss)
$
Plus: Depreciation and amortization
(32,633) $
2,432
8,294
Plus: Stock-based compensation expense
30,688
162,609 $
(32,633) $
(32,972) $
Costs and Revenue Less Transaction Costs ex-Provision
87,947 $
138,273 $
19,961
24,844
8,128
9,695
129,976 $
42,661
30,178
8,167
11,652
37,318 $
30,178
67,496 $
138,273 $
(21,907) $
43,519 $
82,216
8,204
13,678
147,617
33,654
7,108
31,399
219,778 $
(81,505) $
$
43,519
82,216
8,204
13,678
(9,344) $
82,216
72,872 $
(81,505) $
2,877
7,970
(70,658) $
153,332
55,311
(32,171)
7,817
14,806
45,763
31,744
5,066
31,439
114,012
39,320
September 30, 2020
$
$
$
$
$
153,332 $
55,311
(32,171)
7,817
14,806
107,569 $
(32,171)
75,398 $
39,320 $
2,023
5,400
46,743 $
173,978
December 31, 2020 March 31, 2021
$
$
65,868
28,931
10,352
13,498
118,649
33,768
22,582
32,273
207,272 $
(33,294) $
$
173,978
65,868
28,931
10,352
13,498
55,329 $
28,931
84,260 $
(33,294) $
3,720
6,203
14,261
1,191
(7,919) $
204,041
$
$
67,768
12,521
12,060
16,802
109,151
41,634
39,112
40,916
230,813 $
(26,772) $
$
204,041 $
67,768
12,521
12,060
16,802
94,890 $
12,521
107,411 $
(26,772) $
3,351
6,521
17.039
2,971
3,110 $
June 30, 2021
230,665 $
62,054 $
(1,063)
14,665
21,368
97,024
104,806
58,184
179,999
440,013 $
(209,348) $
$
230,665 $
62,054
(1,063)
14,665
21,368
133,641 $
(1,063)
132,578 $
(209,348) $
5,021
179,639
16,668
12,953
4,933
$
261,780
September 30, 2021
$
$
51,010
25,489
15,623
21,910
114,032 $
69,128
62,312
130,561
376,033 $
(114,253) $
261,780
51,010
25,489
15,623
21,910
147,748 $
25,489
173,237 $
(114,253) $
7,887
100,144
16,853
3,582
14,213 $
Notes:
1. Other costs include adjustments for one-time IPO expenses, PayBright, Returnly, Kite and Shopbrain acquisition expenses and sublease impairment charge
2. FY Q1'21 and FY Q2'21 amounts include adjustments to amounts previously reported due to effects of adoption of accounting standards effective July 1, 2020; FY Q3'21 amounts include adjustments to amounts previously reported due to
an adjustment to stock-based compensation expense
3. FY Q3'21 and FY Q4'21 amounts include adjustments to amounts previously reported due to understatements in certain prior period amounts related to the fair value measurement of contingent consideration and stock-based
affirm compensation
269,385
51,678
63,647
16,753
25,201
157,279
78,013
63,960
136,204
435,456
(166,071)
269,385
51,678
63,647
16,753
25,201
112,106
63,647
175,753
(166,071)
10,541
93,189
17.039
209
(45,093)
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