TLDR
- Affirm reports Q4 and full-year FY26 earnings after market close on Thursday, August 27, 2026.
- Affirm Card volume surged 146% year-over-year to $2.13 billion, with 4.4 million active card users.
- Wall Street expects Q4 revenue between $1.08 billion and $1.11 billion, with EPS of $0.35.
- Affirm hit GAAP operating profitability for the first time as a public company in Q3.
- AFRM holds a Strong Buy consensus rating with an average price target of $93.41.
Affirm Holdings is gearing up for its Q4 and full-year FY26 earnings report, due after the bell on Thursday, August 27. The stock currently trades around $76.94.
Going into the report, Affirm Card volume climbed 146% year-over-year to $2.13 billion. Active card users hit 4.4 million, with the card now reaching 17% of Affirm’s active customer base.
The card lets shoppers use pay-over-time at both online and physical stores, pushing Affirm into everyday spending rather than just checkout buttons.
Affirm also expanded integrations with Google Pay, Google Search, and the Gemini app ahead of the report. It linked with Stripe for automated agent transactions and broadened in-store options for Apple Pay users.
Card Growth and Network Expansion
Transactions per user grew 50% to 6.7 annually. The merchant network expanded to 515,000 active partners. Total wallet-related volume hit $1.7 billion over the trailing 12 months, and gas and service transactions tripled year-over-year.
Affirm also launched new bank integrations and plans to roll out zero-fee loyalty rewards for cardholders.
In Q3, Affirm hit GAAP operating profitability for the first time since going public. That’s a meaningful milestone for a company that built its model around interest-bearing loans, which now make up over 70% of total transaction volume.
What Analysts Are Expecting
Wall Street is looking for Q4 revenue between $1.08 billion and $1.11 billion. Total transaction volume is expected to land between $13.15 billion and $13.45 billion. EPS is projected at $0.35, with adjusted operating margins of 27.5% to 29.5%.
Investors will be watching card adoption rates and how that translates into transaction frequency. Credit loss performance and loan margins will also be in focus.
Oppenheimer maintained its Outperform rating on August 24, raising its price target from $87 to $100.
The average Wall Street price target sits at $93.41, based on 16 Buy ratings and five Hold ratings, implying about 21% upside from current levels.
GuruFocus puts AFRM’s GF Value at $73.62, flagging the stock as slightly overvalued at current prices. The GF Score stands at 82 out of 100, with growth ranked 10 out of 10.
One flag worth watching: insiders have sold $8.16 million worth of stock over the past three months.
Management’s FY2027 guidance on Thursday’s call will likely set the tone for how the market reacts.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
