Affirm Holdings, Inc. (AFRM) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Low Risk
Limited dilution potential
Last updated: May 07, 2026

Risk Assessment Details

Potential Dilution: 8.36% of current shares
Recent Dilution: 9.67% (2 years)
Historical Dilution Factor: minimal recent dilution
Outstanding Shares
290M
Potential Supply
25M
Additional shares possible
Splits
None
Past 2 years

Summary

AFRM currently has 294M outstanding shares. with limited dilution risk as only 24.6M additional shares (8.4%) are authorized for issuance. The company has minimally diluted shareholders by 9.67% over the past 2 years.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 07, 2026

10-Q filing | 294.4M shares outstanding

290M 25M
Nov 06, 2025

10-Q filing | 289.4M shares outstanding

290M 25M
Nov 06, 2025

8-K filing: Affirm Holdings, Inc. entered into a second amendment to the amended and restated warrant to purchase up to an aggregate of 15,000,000 shares of Class A common stock with Amazon Services. The exercise price is $100.00 per share for Warrant Shares that vest based on the number of New Users Acquired prior to February 1, 2026 and $63.06 per share for Warrant Shares that vest based on the number of New Users Acquired on or after February 1, 2026.

280M 25M
Aug 28, 2025

10-K filing | 284.9M shares outstanding

280M 25M
May 09, 2025

10-Q filing | 281.8M shares outstanding

280M 25M
Feb 06, 2025

10-Q filing | 277.3M shares outstanding

280M 25M
Dec 20, 2024

8-K filing: Affirm Holdings, Inc. sold $920 million aggregate principal amount of 0.75% Convertible Senior Notes due 2029 and repurchased $960 million aggregate principal amount of the Company's 0% convertible notes due 2026 for $892.8 million and repurchased 3,526,590 shares of its Class A common stock for $250 million. ($250.0M proceeds)

270M 25M
Nov 07, 2024

10-Q filing | 271.9M shares outstanding

270M 25M
Aug 28, 2024

10-K filing | 267.4M shares outstanding

270M 25M
May 08, 2024

10-Q filing | 263.8M shares outstanding

260M 25M
Feb 08, 2024

10-Q filing | 259.6M shares outstanding

260M 25M
Nov 08, 2023

10-Q filing | 242.1M shares outstanding

240M 25M
Aug 25, 2023

10-K filing | 239.7M shares outstanding

240M 25M
May 09, 2023

10-Q filing | 235.8M shares outstanding

240M 25M
Feb 08, 2023

10-Q filing | 233.9M shares outstanding

230M 25M
Nov 08, 2022

10-Q filing | 230.0M shares outstanding

230M 25M
Aug 29, 2022

10-K filing | 229.0M shares outstanding

230M 25M
May 13, 2022

10-Q filing | 226.3M shares outstanding

230M 25M
Feb 14, 2022

10-Q filing | 223.8M shares outstanding

220M 25M
Nov 15, 2021

10-Q filing | 208.2M shares outstanding

210M 25M
Nov 10, 2021

8-K filing: Affirm Holdings, Inc. issued warrants to Amazon Services to purchase up to an aggregate of 22,000,000 shares of Class A common stock.

190M 25M
Sep 17, 2021

10-K filing | 194.0M shares outstanding

190M 25M
May 17, 2021

10-Q filing | 147.6M shares outstanding

150M 25M
Feb 17, 2021

10-Q filing | 129.8M shares outstanding

130M 25M
Jan 15, 2021

8-K filing: Affirm Holdings, Inc. closed its initial public offering of 28,290,000 shares of Class A common stock at $49.00 per share, resulting in gross proceeds of $1,312,047,765. ($1312.05M proceeds)

240M 25M
Jan 11, 2021

S-1/A filing: This S-1/A filing details the offering of 24,600,000 shares of Class A common stock with an option to purchase an additional 3,690,000 shares, and provides information on the company's capital structure, voting rights, and intended use of proceeds.

240M 25M
Jan 05, 2021

S-1/A filing: This S-1/A filing relates to a proposed offering of Class A common stock by Affirm Holdings, Inc., including an option for underwriters to purchase additional shares, with the net proceeds intended for general corporate purposes and to cover tax obligations related to RSU settlements.

240M 28M
Dec 22, 2020

S-1/A filing: This S-1/A filing relates to a proposed public offering of common stock by Affirm Holdings, Inc. to sell to the several Underwriters the respective numbers of Firm Shares set forth in Schedule I hereto opposite its name at $[●] a share and up to [●] Additional Shares at the Purchase Price.

N/A 15M
Nov 18, 2020

S-1 filing: This S-1 filing describes the company's initial public offering of Class A common stock. The filing also mentions shares of Class B common stock and warrants.

N/A 15M
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