Affirm sees strong Q4 growth driven by BNPL and Affirm Card, despite macroeconomic challenges.

Affirm reported strong double-digit growth in gross merchandise volume and active users in Q4, fueled by increased adoption of its Buy Now Pay Later (BNPL) services and rapid uptake of the Affirm Card, which now accounts for 20% of total GMV. Despite challenges from rising inflation and geopolitical tensions that have dampened expectations for near-term Federal Reserve rate cuts, Affirm's accelerating product growth and Affirm Card momentum support a positive outlook for continued expansion. The company benefits from a growing market for BNPL products and improved profitability, reinforcing a bullish investment thesis amid macroeconomic headwinds.