(Tiper Stock Exchange) – Affirma US company and one of the protagonists of the “buy now, pay later” sector, closed the fourth quarter of the fiscal year 2023 (ended June 30, 2023) with a gross merchandise volume (GMV) up 25% year-over-year to $5.5 billion. THE revenues they grew 22% year-over-year to $446 million. L’adjusted operating profit was $15 million compared to a $29 million loss in the fourth quarter of fiscal 2022. The adjusted loss per share was $0.69.
The analysts they expected an average loss per share of $0.85 on revenues of $406 million, according to Refinitiv data.
“Fiscal year 2023 has been quite a test and I am very proud of how the team has delivered for our shareholders, equity partners, merchants and consumers,” commented the CEO Max Levchin – Macroeconomic hurdles persist and more challenges are sure to come, but I think we have shown that Affirm has the talent and courage to address them.”
The number of Merchants active grew 8% year-over-year, reaching 254,000 merchants. The number of consumers assets grew 18% year-on-year to 16.5 million.
“We have achieved our goal of becoming profitable based on adjusted operating income exiting fiscal 2023,” said the CFO Michael Linford — We also expect to be profitable based on adjusted operating income for full fiscal 2024.”
(Photo: Photo by rupixen.com on Unsplash)