Affirm discusses how generative AI and AI agents are changing shopping and creating new opportunities for its products.
“44 Affirm FQ4’25 Shareholder Letter Card update FQ4’25 was another very strong quarter for the Affirm Card activation and usage, with the attach rate reaching 10%.2 We continued to work on improving the user experience, adding new features, and giving our consumers even more reasons to use the Card. The metrics continue to reflect what we think are some very good results: ● Card GMV grew 132% to $1.2 billion ● Active cardholders grew 97% to 2.3 million ● In-store spend on Card grew 187% ● Card 0% APR GMV more than tripled and now makes up about 14% of Card GMV As always, my gratitude goes out to all Affirmers – 2,200 passionate believers in honest financial products, operating income, and artificial intelligence. Congratulations on a momentous year, and now… on to the next leg of our journey! Onward, The unbundling of shopping Over the last three decades keyword search has proven to be the ultimate way of capturing buying intent. But generative AI is rapidly changing the ways we acquire information, shopping information included. AI agents aptly pull together pricing and availability information, combine insights from reviews, comparison shop, and deal-hunt. In-chat and fully agentic shopping are imminent. We believe these changes represent an entirely new set of opportunities for retail and for Affirm. Generative AI is unbundling, or more precisely, decomposing traditional ecommerce, and is offering entirely new ways of recomposing it. Affirm was built for this: our products”