Summary by Moomoo AI
Affirm Holdings, a leading digital and mobile-first commerce platform, reported a significant year-on-year increase in total net revenue, reaching $576.157 million in Q1 2024, a 51% rise from $380.978 million in Q1 2023. The company's operating loss improved, decreasing by 48% to $160.789 million in Q1 2024 from $310.035 million in the same quarter the previous year. Net loss also saw a reduction of 35% year-on-year, standing at $133.936 million. Affirm's business development has been robust, with the expansion of its active merchant base and consumer engagement. The company's platform now boasts 18.1 million active consumers, a 13% increase from the previous year, and transactions per active consumer rose by 27%. Affirm's future plans include continued investment in technology and data analytics to maintain its competitive edge and...Show More