Apple Inc (NASDAQ:AAPL): Affirm said its Canadian business more than tripled in size due to new partnerships including with the Tim Cook-led Apple. That partnership was launched in the fall to brisk consumer demand, as per Michael Linford, Affirm’s chief financial officer.
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Peloton (NASDAQ:PTON): Peloton is Affirm’s second-largest merchant partner by Gross Merchandise Value, or GMV, during the second quarter. Linford said that no single merchant accounted for more than 10% of the second-quarter GMV.
Affirm entered the Australian market with Peloton in the second quarter. The buy now, pay later company looks forward to growing its business with the exercise-bike maker there, as per Linford.
Linford said Peloton was “still delivering an incredible amount of volume for us. And we admire their brand.”
“We admire the loyalty that they have amongst their consumers. And we’ll keep partnering with them,” the Affirm CFO said.
Amazon.com, Inc (NASDAQ:AMZN): Linford said that moving beyond the test phase of Affirm’s collaboration with Amazon before the holidays was a “significant driver of growth.” Even with Amazon excluded, GMV doubled year-over-year.
GMV grew to $4.5 billion in Q2, an increase of $2.4 billion from last year. This number includes the volume from the partnership with the Jeff Bezos-founded e-commerce giant.
“We completed the launch of our interest-bearing program at Amazon in November ahead of Black Friday. And while the program is still in its infancy with a long road map of optimizations to work on we’ve seen rapid consumer adoption,” said Linford.
Linford touched on cryptocurrencies in the conference call and noted that the company introduced the beta version of its consumer-friendly cryptocurrency savings.
Price Action: Affirm shares closed 21.4% lower in the regular session at $58.68 and fell another 7.3% to $54.40 in the after-hours trading.
Photo: Courtesy of Affirm