Affirm Active Consumers Leap 23% as BNPL's Momentum Continues

Core Insights - A strong holiday shopping season and the popularity of buy now, pay later (BNPL) options contributed to Affirm Holding's growth in gross merchandise volumes (GMV) and active consumer base [1] Financial Performance - Affirm's second quarter GMV increased by 35% to $10.1 billion, with 0$866 million, with the company nearing its target date for positive operating income [3] - GMV growth by product category included a 40% increase in general merchandise and a 36% increase in electronics [4] Consumer Engagement - Active consumers increased by 23% to 21 million, with transactions per active consumer rising 22% year over year to 5.3 [2] - The Affirm Card GMV reached $845 million, up 113% year over year, with active consumers increasing by 136% to 1.7 million [6] Promotional Strategies - The growth in 0% APR offerings was driven by merchants seeking promotional strategies during the holiday season, which included channeling promotional dollars into reduced APRs [5] - App-started 0% APR GMV grew by 260%, indicating significant potential for further engagement through the card [7] Credit Metrics - The 30-plus-day delinquency rate remained stable at 2.5%, consistent with pre-pandemic levels, showing improvement from the previous quarter [7] Integration and Growth - Wallet integrations are progressing well, contributing positively to transaction metrics and credit quality [8][9]