Affirm (AFRM) Q3 2026 Earnings Call Transcript

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Date

Thursday, May 7, 2026 astatine 5 p.m. ET

Call participants

• Founder and Chief Executive Officer — Max Levchin

• Chief Operating Officer — Michael Linford

• Chief Financial Officer — Robert O'Hare

• Investor Relations — Zane Keller

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Full Conference Call Transcript

Max Levchin, Affirm's Founder and Chief Executive Officer; Michael Linford, Affirm's Chief Operating Officer; and Rob O'Hare, Affirm's Chief Financial Officer. In enactment with our signifier successful anterior quarters, we volition statesman with little opening remarks from Max earlier proceeding instantly into questions and answers. Before we statesman the call, arsenic a reminder, we volition beryllium hosting our 2026 Affirm Investor Forum adjacent week connected Tuesday, May 12, from 2 until astir 5: 00 p.m. Eastern Time. The lawsuit volition beryllium disposable to the nationalist via unrecorded formed connected our Investor Relations website. We volition besides people a replay connected our website aft the lawsuit ends. With that, I'll crook the telephone implicit to Max to begin.

Max Levchin: Thank you, Zane. Fiscal Q3 was different 1 for the grounds books. Given this streak, 1 could beryllium forgiven if 1 thought it is really beauteous easy. That's each due to the fact that the fantastic Affirm squad is starting to marque it look that way. It is not, successful fact, easy, and we're precise arrogant of this peculiar quarter. As Zane said, I look guardant to seeing galore of you successful idiosyncratic astatine the manufacture forum adjacent week. On that note, backmost to you, Zane.

Zane Keller: Thanks, Max. Okay. Let's get to your questions. Operator, delight statesman the Q&A session.

Operator: [Operator Instructions] Our archetypal question comes from Jason Kupferberg with Bank of America.

Jinli Chan: This is Cassie Chan connected for Jason. Great quarter. I conscionable wanted to ask, I guess, archetypal connected the backstage recognition broadside and successful wide connected credit. It seems similar the delinquencies were beauteous unchangeable this quarter. I guess, is determination thing that you're seeing successful presumption of changes oregon slowdowns successful credit? And obviously, unease successful backstage recognition seems to beryllium a theme, but are you guys seeing immoderate issues oregon changes connected the backing broadside of the business?

Max Levchin: I'll commencement with the recognition side, Michael volition prime up the backing side. No, we are not. At this point, I deliberation we earned the close to accidental the Affirm consumer. And truthful these are not comments connected the beingness oregon adjacent North America oregon United States consumer, but radical that we take to underwrite and lend to, we are not seeing deterioration. We're not seeing immoderate disturbances successful the course, which people translated to a precise unchangeable and pleasant backing situation for us. Michael, tin you archer immoderate more?