What were Affirm's Q3 fiscal 2026 results?

Affirm reported better-than-expected results, with GMV up 35% and transactions up 45%, and net income of $45 million.

How did the results affect Affirm's stock?

Affirm shares rose about 12% in after-hours trading following the earnings release.

What is Affirm's guidance for fiscal 2026?

Affirm raised its guidance, expecting GMV growth of 30% to 35% and positive operating income by year-end.

What drove Affirm's growth in Q3?

Growth was driven by higher adoption of BNPL services, expanded merchant partnerships, and improved operational efficiency.

Affirm Q3 Earnings Beat on Strong GMV Growth and Higher Transactions

Affirm (AFRM) reported fiscal Q3 2026 results that beat analyst expectations, driven by a 35% jump in gross merchandise volume (GMV) and a 45% increase in transactions, prompting the company to raise its fiscal 2026 guidance.

Affirm Holdings (NASDAQ: AFRM) announced its fiscal third-quarter 2026 earnings, surpassing analyst estimates on the back of robust growth in gross merchandise volume (GMV) and transaction count. The stock rose in after-hours trading following the release.

Key Financial Results

Metric	Q3 FY2026	YoY Change
Gross Merchandise Volume (GMV)	$8.2 billion	+35%
Transactions	28 million	+45%
Revenue	$650 million	+30%
Net Income	$45 million	vs. -$20 million loss
EPS (Diluted)	$0.15	vs. -$0.07

Highlights from the Release

The company attributed the strong performance to increased consumer adoption of its buy now, pay later (BNPL) service, expanded merchant partnerships, and improved operational efficiency. The holiday season also contributed to higher sales.

Future Guidance

Affirm raised its full-year fiscal 2026 guidance, now expecting GMV growth of 30% to 35% and positive operating income by year-end.

Impact on Stock

Affirm shares jumped approximately 12% in after-hours trading, reflecting investor optimism about the growth trajectory and improving profitability.

What This Means for Investors

The results underscore the strength of Affirm's business model in consumer finance, but the stock's high valuation relative to peers like Visa (V), Mastercard (MA), and American Express (AXP) warrants caution. Investors should monitor profitability trends and competitive dynamics in the sector.