(Affirm) Shares of Affirm Holdings rose more than 30% in premarket on Friday after reporting 12.7 million active consumers. The numbers represented an increase of 137% from the prior year.
Affirm also said that its network is growing rapidly, after active merchants on the platform grew from just 12,000 in the prior year to 207,000 in the third quarter. The company’s gross merchandise volume rose by 73% to $3.9 billion.
Total transactions increased by 162% from the prior year to hit 10.5 million. The transactions per active consumer rose 19% to 2.7 as of the end of March.
Following a robust quarter, affirmed reported revenue of $354.8 million, representing an increase of 54% from the third quarter of 2021.
Affirm net loss narrowed to $54.7 million, compared to a loss of $287.1 million in the prior year.
The company now expects a GMV of between $3.95 billion and $4.05 billion in the fourth quarter and $15.04 billion and $15.14 billion in FY22.
The revenue in the fourth quarter is projected at between $345 million and $355 million. FY22 revenue is projected at between $1.330 million to $1.340 million.
AFRM: NASDAQ is up +30.93% on premarket.
