Affirm Public S-1 Filing
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Affirm Public S-1 Filing
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Re: Affirm Public S-1 Filing
#2FY Ended June 30, in millions
| 2019 | 2020
------------|--------|--------
net revenue | $264 | $509
op ex | $391 | $617
net loss | $(120) | $(113)
loss ex SBC | $(79) | $(83)
volume | $2,620 | $4,637
customers | 2.05 | 3.62Re: Affirm Public S-1 Filing
#3FY Ended June 30, in millions | 2019 | 2020 ------------|--------|-------- net revenue | $264 | $509 op ex | $391 | $617 net loss | $(120) | $(113) loss ex SBC | $(79) | $(83) volume | $2,620 | $4,637 customers | 2.05 | 3.62
doubling revenue while keeping losses stable is pretty good, especially when we’re talking about consumer credit
Re: Affirm Public S-1 Filing
#4The floodgates in 2020 have opened with IPOs of alot of these unicorns, Palantir, doordash, airbnb, affirm, jfrog, snowflake, asana. I wonder why the sudden timeframe to go public. My guess is they want to ride the wave of stimulus money that has been going on during the spring/summer and the 2nd round which has yet to happen.
Re: Affirm Public S-1 Filing
#5The floodgates in 2020 have opened with IPOs of alot of these unicorns, Palantir, doordash, airbnb, affirm, jfrog, snowflake, asana. I wonder why the sudden timeframe to go public. My guess is they want to ride the wave of stimulus money that has been going on during the spring/summer and the 2nd round which has yet to happen.
I mean look at the market - we’re at all time highs. It’s more the trillions the Fed pumped into the markets than stimulus.
Re: Affirm Public S-1 Filing
#6FY Ended June 30, in millions | 2019 | 2020 ------------|--------|-------- net revenue | $264 | $509 op ex | $391 | $617 net loss | $(120) | $(113) loss ex SBC | $(79) | $(83) volume | $2,620 | $4,637 customers | 2.05 | 3.62
doubling revenue while keeping losses stable is pretty good, especially when we’re talking about consumer credit
Does Affirm carry the credit risk on its books?
Re: Affirm Public S-1 Filing
#7FY Ended June 30, in millions | 2019 | 2020 ------------|--------|-------- net revenue | $264 | $509 op ex | $391 | $617 net loss | $(120) | $(113) loss ex SBC | $(79) | $(83) volume | $2,620 | $4,637 customers | 2.05 | 3.62
doubling revenue while keeping losses stable is pretty good, especially when we’re talking about consumer credit
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Re: Affirm Public S-1 Filing
#8Earlier quoted context omitted.
doubling revenue while keeping losses stable is pretty good, especially when we’re talking about consumer credit
Does Affirm carry the credit risk on its books?
Haven’t read the prospectus but I know they sell loans to investors and they are fairly highly rated from a credit perspective. I’m sure they have some debt on their books too though.
Re: Affirm Public S-1 Filing
#9Re: Affirm Public S-1 Filing
#10The floodgates in 2020 have opened with IPOs of alot of these unicorns, Palantir, doordash, airbnb, affirm, jfrog, snowflake, asana. I wonder why the sudden timeframe to go public. My guess is they want to ride the wave of stimulus money that has been going on during the spring/summer and the 2nd round which has yet to happen.
I don't see it as a problem. Innovation is accelerating with new business models and so on. Adoption curve for new technologies could be occurring quicker as well thanks to social media (easier to "spread the word" about new products/services/technologies).
I don't see it as a problem because all of these companies have legitimate products/services, legitimate customers and legitimate cash flows. This isn't another dot com situation we are in. There are very few companies going IPO with just an idea. ("we're going to use the proceeds from this offering to build an online pets store called pets.com")
It is easy to say "its the stimulus" or "its the fed" but I think there is more going on at a fundamental level.