---
schema_version: "secwatch.filing_event.v1"
accession: "0001820953-23-000001"
form_type: "8-K"
ticker: "AFRM"
cik: "0001820953"
company_name: "Affirm Holdings, Inc."
filed_at: "2023-02-08T23:59:59+00:00"
generated_at: "2026-06-19T21:58:17.150251+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Affirm reports FQ2'23 GMV $5.7B (+27% YoY) and announces 19% workforce reduction

## Summary
- GMV record $5.7B (+27% YoY); revenue $400M (+11% YoY); RLTC $144M (-21% YoY) below outlook.
- Restructuring: ~500 employees (19% of workforce) cut; expected total costs $35-39M, mostly in FQ3'23.
- Delinquencies improved sequentially; funding capacity reached $11.3B in January after $500M ABS and $300M new warehouse.
- Pricing optimization lagged; management expects tailwinds to RLTC and GMV from pricing initiatives.
- Adjusted operating income better than expected; headcount to remain essentially flat going forward.

## SEC filing metadata
- accession: 0001820953-23-000001
- form_type: 8-K
- ticker: AFRM
- cik: 0001820953
- company_name: Affirm Holdings, Inc.
- filed_at: 2023-02-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820953/000182095323000001/0001820953-23-000001-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820953/000182095323000001/afrm-20230208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001820953-23-000001
- JSON: https://secwatch.observer/filing/0001820953-23-000001.json
- Plain text: https://secwatch.observer/filing/0001820953-23-000001.txt

## Key facts
- Earnings Releases
  Affirm Holdings, Inc. reported financial results for the second fiscal quarter ended December 31, 2022.
  - Period: the second fiscal quarter ended December 31, 2022
  - Result: reported results
  source text: On February 8, 2023 , the Affirm Holdings, Inc. (the "Company") issued a Shareholder Letter (the “Letter”) regarding its financial results for the second fiscal quarter ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820953/000182095323000001/0001820953-23-000001-index.htm
- Restructurings & Charges
  Affirm Holdings, Inc. announced a restructuring with charges of approximately $35 million to $39 million affecting company-wide (approximately 500 employees).
  - Type: restructuring
  - Charge: approximately $35 million to $39 million
  - Affected area: company-wide
  - Headcount: approximately 500 employees
  source text: of its San Francisco office. The Company expects implementation of the Plan to be substantially complete by the end of fiscal 2023. The Company expects to incur approximately $35 million to $39 million in total restructuring costs, which includes cash expenditures of $24 million to $28 million relating to one-time employee severance and other employment
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820953/000182095323000001/0001820953-23-000001-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.