Affirm Holdings, Inc. (AFRM) Discusses BNPL Growth, Competitive Differentiation, and Consumer Value in Payments Transcript

SA Transcripts157.38K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Affirm Holdings, Inc. (AFRM) Discusses BNPL Growth, Competitive Differentiation, and Consumer Value in Payments December 16, 2025 12:00 PM EST Company Participants Robert O'Hare - Chief Financial Officer Conference Call Participants Matthew Coad - Truist Securities, Inc., Research Division Presentation Matthew CoadTruist Securities, Inc., Research Division Okay. Awesome. So my name is Matt Coad. I work at Truist Securities covering Payments and Fintech. And I'm really pleased to be joined by Rob O'Hare here. Rob has been with Affirm for a little bit over 5 years now, and he's been in his current seat as CFO for a little bit over 1 year. Rob has a pretty awesome background. I'm jealous of it. He's previously before joining Affirm was CFO at 2 smaller tech firms. He also worked at Square in Finance & Strategy. And prior to that, he spent some time on the buy side and in investment banking. Rob, thanks for taking the time to talk to us today. Robert O'HareChief Financial Officer Yes. Thanks for the warm intro. Great to be with you, Matt. Question-and-Answer Session Matthew CoadTruist Securities, Inc., Research Division Awesome. So just in terms of format, Affirm like some of the other fintechs, they like to loop in the retail questions here, which I think is great. I have several questions prepared, and I'll loop in the retail questions. And with that, let's get into it. So topic is du jour, Rob, like everybody wants to talk about volume growth, right? So that's going to be our first topic here. And I'd like to start with a topic like this from a 1,000-foot view, right? So my first question is that there are a ton of different payment methods available to consumers here in the U.S. Why do you believe BNPL has had so much success so far? And then specific to Affirm of retail investor and manual OS