What To Know: Affirm reported quarterly losses of 57 cents per share, which beat the analyst consensus estimate of losses of 70 cents, a 33.72% increase over losses of 86 cents per share from last year.

The company reported quarterly sales of $496.55 million, which beat the analyst consensus estimate of $444.77 million, a 37.31% increase over sales of $361.62 million in the same period last year.

Gross Merchandise Volume (GMV) was $5.6 billion, up 28% compared to last year’s quarter. Also, Revenue Less Transaction Costs (RLTC) was $212 million, a 16% year-over-year increase.

Affirm’s active customers grew 15% year-over-year to 16.6 million. The transaction per active customer grew 25% year-over-year.

The company issued guidance for the second quarter of 2024 with Revenue estimated to be between $495 million and $520 million, versus the $502.39 million estimate. Full-year 2024 GMV is anticipated to be more than $24.25 billion. Revenue as a percentage of GMV is expected to be similar to full-year 2023

Related Link: Lyft’s Bottomline Takes A Hit In Q3, Stock Slides

AFRM Price Action: Shares of AFRM were up 9.38% at $23.80 in the after-hours session at the time of publication, according to Benzinga Pro.