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Loans Held for Investment and Allowance for Credit Losses (Tables)
 6 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Schedule of Loans Held for Investment and Allowance for Credit Loss Loans held for investment consisted of the following (in thousands):
December 31, 2024June 30, 2024
Unpaid principal balance$6,814,032 $5,697,965 
Accrued interest receivable76,096 62,796 
Premiums on loans held for investment9,472 7,822 
Less: Discount due to loss on loan purchase commitment(74,099)(63,682)
Less: Discount due to loss on directly originated loans(29,326)(34,829)
Less: Fair value adjustment on loans acquired through business combination(8)(16)
Total loans held for investment$6,796,167 $5,670,056 
Schedule of Credit Quality by ITACs Score
The following tables present an analysis of the credit quality, by ITACs score, of the amortized cost basis excluding accrued interest receivable, by fiscal year of origination on loans held for investment and loans held for sale as of December 31, 2024 and June 30, 2024 (in thousands):

December 31, 2024
Amortized Costs Basis by Fiscal Year of Origination
20252024202320222021PriorTotal
96+$3,468,048 $907,243 $85,925 $6,645 $203 $11 $4,468,075 
94 – 961,381,171 366,485 5,615 475 7 5 1,753,758 
90 – 94329,415 59,203 891 289 4 1 389,803 
<9065,999 8,168 11 112 2 1 74,293 
No score (1)
2,114 5,707 22,509 3,675 110 27 34,142 
Total amortized cost basis$5,246,747 $1,346,806 $114,951 $11,196 $326 $45 $6,720,071 

June 30, 2024
Amortized Costs Basis by Fiscal Year of Origination
20242023202220212020PriorTotal
96+$3,438,135 $183,210 $10,026 $186 $10 $5 $3,631,572 
94 – 961,509,125 29,227 463 8 2 4 1,538,829 
90 – 94287,499 3,575 263 3 1 1 291,342 
<9045,009 46 309 2 1 — 45,367 
No score (1)
20,680 66,680 12,391 217 94 124 100,186 
Total amortized cost basis$5,300,448 $282,738 $23,452 $416 $108 $134 $5,607,296 
(1)This balance represents loan receivables without sufficient data available for use by the Affirm scoring methodology including new markets and certain developing products.  

The following table presents net charge-offs by fiscal year of origination as of December 31, 2024 (in thousands):
December 31, 2024
Net Charge-offs by Fiscal Year of Origination
20252024202320222021PriorTotal
Current period charge-offs(14,524)(231,104)(17,470)(951)(171)(140)(264,360)
Current period recoveries199 7,829 6,300 2,289 466 137 17,220 
Current period net charge-offs(14,325)(223,275)(11,170)1,338 295 (3)(247,140)
Schedule of Delinquent Financing Receivables The following table presents an aging analysis of the amortized cost basis excluding accrued interest receivable of loans held for investment and loans held for sale by delinquency status (in thousands):
December 31, 2024June 30, 2024
Non-delinquent loans$6,361,896 $5,331,462 
4 – 29 calendar days past due175,272 134,434 
30 – 59 calendar days past due73,513 55,021 
60 – 89 calendar days past due56,471 47,764 
90 – 119 calendar days past due(1)
52,919 38,615 
Total amortized cost basis$6,720,071 $5,607,296 
(1)Includes $52.7 million and $38.6 million of loan receivables as of December 31, 2024 and June 30, 2024, respectively, that are 90 days or more past due, but are not on non-accrual status.
Schedule of Loans Held for Investment and Allowance for Credit Loss
The following table details activity in the allowance for credit losses, including charge-offs, recoveries and provision for loan losses (in thousands):
Three Months Ended December 31,Six Months Ended December 31,
2024202320242023
Balance at beginning of period$350,606 $232,068 $309,097 $204,531 
Provision for loan losses147,069 116,160 301,874 208,988 
Charge-offs(142,912)(91,633)(264,360)(162,476)
Recoveries of charged-off receivables9,068 5,609 17,220 11,161 
Balance at end of period$363,831 $262,204 $363,831 $262,204 
Schedule of Financing Receivable, Modified The following tables present the amortized cost basis of loans excluding accrued interest receivable that were modified for borrowers experiencing financial difficulty during the three and six months ended December 31, 2024 and 2023, by type of modification (in thousands):
Three Months Ended December 31,
2024
2023(1)
Payment deferral$10,189 $20,899 
Loan re-amortization170 663 
Total$10,359 $21,561 
% of total loan receivables outstanding0.15 %0.42 %

Six Months Ended December 31,
2024
2023(1)
Payment deferral$16,096 $28,960 
Loan re-amortization274 1,132 
Total$16,370 $30,092 
% of total loan receivables outstanding0.24 %0.58 %
(1)Amounts previously disclosed excluded modifications made to borrowers where the loan was less than 30 days delinquent at the time of modification.
The following tables present the delinquency status as of December 31, 2024 and 2023, by amortized cost basis excluding accrued interest receivable, of loan receivables that have been modified within the last 12 months where the borrower was experiencing financial difficulty at the time of modification (in thousands):

December 31, 2024
Payment DeferralLoan Re-amortizationTotal
Non-delinquent loans$11,021 $217 $11,238 
4 – 29 calendar days past due3,085 67 3,152 
30 – 59 calendar days past due1,878 35 1,913 
60 – 89 calendar days past due1,632 32 1,664 
90 – 119 calendar days past due1,789 31 1,820 
Total amortized cost basis$19,405 $382 $19,787 
December 31, 2023 (1)
Payment DeferralLoan Re-amortizationTotal
Non-delinquent loans$17,879 $506 $18,385 
4 – 29 calendar days past due5,549 249 5,798 
30 – 59 calendar days past due2,775 158 2,933 
60 – 89 calendar days past due1,972 125 2,097 
90 – 119 calendar days past due1,639 112 1,751 
Total amortized cost basis$29,814 $1,150 $30,964 
(1)Amounts previously disclosed excluded modifications made to borrowers where the loan was less than 30 days delinquent at the time of modification