Affirm (NASDAQ:AFRM) Stocks Soar 98% From IPO Price On Debut Day

2 min read | January 14, 2021 04:03 AM EST | By Kunal Sawhney

Affirm (NASDAQ:AFRM) Stocks Soar 98% From IPO Price On Debut Day

A Little More About Affirm Holdings Inc (NASDAQ: AFRM, AFRM:US)

Founded in 2012 by software engineer and PayPal co-founder Max Levchin, Affirm Holdings Inc is a digital and mobile-first commerce platform that offers payment solutions to its customers. The company is headquartered in San Francisco, California.

Affirm Holdings Inc reported a consumer base of over 6.2 million and a merchant network of more than 6,500 in its IPO SEC document filed in November last year. The report said that the company’s gross merchandise value (GMV) has climbed by 77 per cent year-over-year (YoY) to US$ 4.6 billion in fiscal year 2020.

The company posted a total revenue of US$ 509.5 million in the fiscal year ending 30 June 2020, as per its SEC filings, which is a surge of nearly 93 per cent YoY. Its total operating expenses also climbed by nearly 58 per cent YoY to an amount of US$ 617 million in FY20. Affirm Holdings also incurred an operating loss of US$ 107 million and a net loss of US$ 112 million in the latest fiscal year.

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