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Acquisitions (Tables) | 12 Months Ended
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Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract] |
Asset Acquisition | The following table sets forth the identifiable intangible assets acquired and the cost allocated to each asset as of the date of acquisition (in thousands):
Assembled workforce |  | $ | 12,490 |
Option to purchase developed technology |  | $ | 12,925 |
Total |  | $ | 25,415 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (in thousands):
|  | Fair Value |  | Useful Life (in years)
Developed technology |  | $ | 9,488 |  |  | 3.0
The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (in thousands):
|  | Fair Value |  | Useful Life (in years)
Developed technology |  | $ | 6,900 |  |  | 3.0
Trademarks |  | 75 |  | 1.0
Total intangible assets |  | $ | 6,975 |  |  |
The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (in thousands):
|  | Fair Value |  | Useful Life (in years)
Developed technology |  | $ | 16,200 |  |  | 3.0
Merchant relationships |  | 29,200 |  | 5.0
Trade name |  | 500 |  | 1.0
Total intangible assets |  | $ | 45,900 |  |  |
The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (in thousands)
|  | Fair Value |  | Useful Life (in years)
Developed technology |  | $ | 6,127 |  |  | 3.0
Merchant relationships |  | 9,505 |  |  | 4.0
Trade name |  | 1,021 |  |  | 5.0
Total intangible assets |  | $ | 16,653 |  |  |
Schedule of Acquisition Consideration Transferred | The acquisition date fair value of the consideration transferred was approximately $40.0 million, which consisted of the following (in thousands):
Cash |  | $ | 30,000 |
Fair value of Class A common stock transferred |  | 10,000 |
Total acquisition date fair value of the consideration transferred |  | $ | 40,000 |
The acquisition date fair value of the consideration transferred was approximately $24.8 million which consisted of the following (in thousands):
Cash |  | $ | 26,000 |
Less: Fair value of contingent consideration asset |  | $ | (1,241) |
Total acquisition date fair value of consideration transferred |  | $ | 24,759 |
The acquisition date fair value of the consideration transferred for Returnly was approximately $286.0 million, which consisted of the following (in thousands):
Cash |  | $ | 71,484 |
Fair value of common stock transferred |  | 214,475
Total acquisition date fair value of consideration transferred |  | $ | 285,959 |
The acquisition date fair value of the consideration transferred for PayBright was approximately $288.8 million, which consisted of the following (in thousands):
Cash |  | $ | 114,490 |
Fair value of common stock transferred |  | 116,989 |
Fair value of contingent consideration |  | 57,275 |
Total purchase price |  | $ | 288,754 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the allocation of the consideration paid of approximately $40.0 million to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):
Intangible assets |  | $ | 9,488 |
Total net assets acquired |  | 9,488 |
Goodwill |  | 30,512 |
Total purchase price |  | $ | 40,000 |
The following table summarizes the allocation of the consideration paid of approximately $24.8 million to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):
Intangible assets |  | $ | 6,975 |
Net assets acquired |  | 6,975 |
Goodwill |  | $ | 17,784 |
Total purchase price |  | $ | 24,759 |
The following table summarizes the allocation of the fair value of the consideration paid and the previously held equity interest of approximately $288.1 million to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):
Cash and cash equivalents |  | $ | 3,788 |
Accounts receivable, net |  | 9,585 |
Property, equipment and software |  | 127 |
Intangible assets |  | 45,900 |
Other assets |  | 1,830 |
Total assets acquired |  | $ | 61,230 |
Accounts payable |  | 594 |
Accrued expenses and other liabilities |  | 6,205 |
Total liabilities assumed |  | $ | 6,799 |
Net assets acquired |  | $ | 54,431 |
Goodwill |  | 233,623 |
Total fair value of consideration transferred and previously held investment |  | $ | 288,054 |
The following table summarizes the allocation of the consideration paid of approximately $288.8 million to the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):
Cash and cash equivalents |  | $ | 8,219 |
Restricted cash |  | 1,469 |
Loans held for investment |  | 89,570 |
Accounts receivable, net |  | 1,537 |
Property, equipment and software, net |  | 586 |
Intangible assets |  | 16,653 |
Other assets |  | 5,651 |
Total assets acquired |  | $ | 123,685 |
Accounts payable |  | 6,579 |
Accrued interest payable |  | 23 |
Accrued expenses and other liabilities |  | 193 |
Funding debt |  | 85,310 |
Total liabilities assumed |  | $ | 92,105 |
Net assets acquired |  | $ | 31,580 |
Goodwill |  | 257,174 |
Total purchase price |  | $ | 288,754 |
Schedule of Pro Forma Consolidated Total Revenues and Net Loss | The following table reflects the pro forma consolidated total revenue and net loss for the periods presented as if the acquisition of Returnly had occurred on July 1, 2019 and combines the historical results of Affirm and Returnly. This supplemental unaudited pro forma information is based upon accounting estimates and judgments that we believe are reasonable and includes certain adjustments to conform accounting standards to U.S. GAAP. This supplemental unaudited pro forma financial information has been prepared for illustrative purposes only and is not necessarily indicative of what actual results would have occurred, or of results that may occur in the future.
|  | Year ended June 30, |  | Year ended June 30,
|  | 2021 |  | 2020
Revenue |  | $ | 880,603 |  |  | $ | 517,438 |
Net loss |  | $ | (465,875) |  |  | $ | (132,721) |
The following table reflects the pro forma consolidated total revenue and net loss for the periods presented as if the acquisition of PayBright had occurred on July 1, 2019 and combines the historical results of Affirm and PayBright. This supplemental unaudited pro forma information is based upon accounting estimates and judgments that we believe are reasonable and includes certain adjustments to conform accounting standards to U.S. GAAP. This supplemental unaudited pro forma financial information has been prepared for illustrative purposes only and is not necessarily indicative of what actual results would have occurred, or of results that may occur in the future.
|  | Year ended June 30, |  | Year ended June 30,
|  | 2021 |  | 2020
Revenue |  | $ | 886,937 |  |  | $ | 524,657 |
Net loss |  | $ | (447,116) |  |  | $ | (128,244) |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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