Affirm raised its minimum growth target for fiscal 2027 to at least 30% after gross merchandise volume grew 34% year over year in the first quarter. Early second-quarter trends point to growth in the high-30% range, while revenue rose 35% to approximately $1.26 billion to $1.3 billion. Active merchants increased 48% year over year to 621,000. The company is deploying in the United States a new transformer-based underwriting model trained on 14 years of transaction data that is expected to raise approval rates by roughly 2 to 3 percentage points without adding credit losses. The model delivered a 3.4% incremental conversion lift by approving more borrowers.
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