"Afterpay make 3.9 that bumps to 4.4 after all those late fees are added in. So nearly triple the revenue generating machine of Afterpay AND it's growing the same year on year but off a higher base revenue than Afterpay.Afterpay 500 million AUD last FY affirm 500 million USD so about a 25-30 percent more than Afterpay."
Pretty much everything in this statement is wrong Elmer. Revenue as a % of GMV are 10.6% for Affirm but less transaction costs they are 3.8% of latest 6 months. NTM for Afterpay is 2.3% of underlying sales. Affirm and Afterpay were at $500m each end of last financial year with the difference of currency (30%) In aggregate Afterpay is growing at over 100% (115% growth in underlying revenues - see Q1 business update) whilst Affirm is growing at 57% Depending on whether you want to look at this on a group basis or US only basis then In the US alone where Affirm is effectively centred, Afterpay's revenues are much lower than Affirm's but is growing at 229% so about 4 x that of Affirm.
KM
APT Price at posting:
$151.74 Sentiment: Hold Disclosure: Held
