Affirm Posts First GAAP Profit, GMV Grows 36% YoY, Adds 1.8 Million New Customers

Affirm posted its first GAAP profit, grew GMV 36% YoY, and added 1.8 million new customers in Q1. The fintech is scaling a two-sided network across Amazon, Shopify, and Apple Pay, moving closer to sustained profitability. Despite its growth story, the market remains anchored to its past, with Affirm trading at 31x forward earnings and a PEG of 0.31.