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Acquisitions (Tables)

12 Months Ended

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)

X

- Definition

Tabular disclosure of asset acquisition.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 50
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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

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Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

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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.

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