Interview

Affirm CEO Max Levchin on 43% GMV growth, GAAP profitability, and the future of honest lending

Aug 28, 2025 with Max Levchin

Key Points

  • Affirm achieved 43% GMV growth in the quarter, marking its fourth consecutive period of accelerating volume expansion, demonstrating sustained momentum in buy-now-pay-later lending.
  • Transaction frequency rose over 20% year-over-year while average ticket size held steady near $300, signaling deeper consumer engagement rather than reliance on larger one-time purchases.
  • CEO Max Levchin highlighted the company's GAAP profitability milestone alongside growth metrics, positioning Affirm as a path-to-profit fintech in a competitive installment lending market.
Max LevchinAffirm
Affirm CEO Max Levchin on 43% GMV growth, GAAP profitability, and the future of honest lending

Summary

Affirm posted another strong quarter, with GMV (gross merchandise volume, the company's term for merchant sales processed through its platform) growing 43%, marking the fourth consecutive quarter of accelerating volume growth according to CEO Max Levchin. The average transaction ticket sits just under $300, and transaction frequency rose more than 20% year-over-year, suggesting deepening consumer engagement rather than one-off use.

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