Filing Flows › Affirm Holdings (AFRM) › Q1 FY27
Affirm Holdings (AFRM) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Nov 5, 2026
Affirm Holdings (AFRM) reported revenue of $1.3B for the first quarter fiscal 2027 (Q1 FY27), +35% from a year earlier and +8% from the quarter before. Operating margin was 14.8%, net earnings $164M (13.0% of revenue).
Affirm Holdings, Q1 FY27: revenue $1.3B (+35% year over year), operating margin 14.8%, net earnings $164M, operating cash flow $207M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +8% | +35% |
| Operating profit | $187M | +27% | +194% |
| Net earnings | $164M | -90% | +103% |
| Operating cash flow | $207M | -30% | -45% |
| Free cash flow | $145M | -37% | -55% |
What changed
Revenue was $1.3B in Q1 FY27, up 35% year over year and up 8% from the previous quarter. Merchant network revenue was the largest line at 24% of revenue. Merchant network revenue added $0.05B year over year (up 18%), 14% of the total change.
Operating profit was $0.19B, a 14.8% margin (up 8.0 points year over year). Of the extra revenue versus Q1 FY26, 38% reached operating profit, above the 7% margin then. Total costs grew 24% against revenue growth of 35%. The fastest-growing cost line was Other operating costs (+31%). Net earnings were $0.16B, up 103% year over year. The effective tax rate was 19.9%.
Operating cash flow was $0.21B (down 45% year over year), 126% of net earnings. Non-cash charges added back $0.09B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $0.10B. Capital expenditures of $0.06B left free cash flow of $0.14B.
Questions
What was Affirm Holdings' revenue in the first quarter fiscal 2027?
Affirm Holdings (AFRM) reported revenue of $1.3B for the first quarter fiscal 2027 (Q1 FY27), +35% from a year earlier and +8% from the quarter before.
Was Affirm Holdings profitable in the first quarter fiscal 2027?
Operating profit was $187M (14.8% of revenue) and net earnings $164M.
Source: Affirm Holdings 10-Q on SEC EDGAR.