(Affirm) Shares of Affirm Holdings Inc. fell 9% on Friday after reporting a wider net loss of $159.7 million in the second quarter of 2022, from a loss of $26.6 million in the prior year.
The company’s operating loss was reported at $196.2 million in the second quarter, worse than $26.8 million in the prior year.
Total revenue in the second quarter was $361.0 million, up 77% from the prior year. Total revenue lower transaction costs rose by 93% to $183.6 million.
Affirm said that its gross merchandise volume improved by 115% to $4.5 billion in the second quarter from the prior year, while active consumers expanded by 150% to 11.2 million. Transactions per active consumer rose 15% to 2.5.
The company now projects revenue of between $325 million to $335 million in the third quarter of 2022, while revenue in FY22 is expected to range between $1.29 billion to $1.31 billion.
Affirm also expects a lower GMV of between $3.61 billion to $3.71 billion in the fourth quarter and between $14.58 billion and $14.78 billion in FY22.
AFRM: NASDAQ is down -9.07% on premarket.
