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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and Uniti Group Inc. (UNIT). Click either name above to swap in a different company.
Uniti Group Inc. is the larger business by last-quarter revenue ($722.6M vs $401.4M, roughly 1.8× Affirm Holdings, Inc.). Uniti Group Inc. runs the higher net margin — 222.7% vs 32.3%, a 190.4% gap on every dollar of revenue.
Affirm Holdings, Inc. is an American financial technology company and a point-of-sale lender. Founded in 2012 by PayPal co-founder Max Levchin, it is the largest U.S. based buy now, pay later (BNPL) financier. As of 2025, Affirm reports nearly 26 million users and processing $37 billion in annual payments.
Uniti was an electric vehicle prototype by Uniti Sweden, a Swedish automotive startup. The company was founded in January 2016 by a team of students and engineers under CEO Lewis Horne which aimed at developing an electric microcar in Lund, Sweden. It filed for bankruptcy in April 2022. No products were ever delivered to customers.
AFRM vs UNIT — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $722.6M |
| Net Profit | $129.6M | $1.6B |
| Gross Margin | — | — |
| Operating Margin | 29.3% | -5.9% |
| Net Margin | 32.3% | 222.7% |
| Revenue YoY | 32.5% | — |
| Net Profit YoY | 61.3% | — |
| EPS (diluted) | $0.37 | $4.92 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $401.4M | — | ||
| Q3 25 | $320.5M | $722.6M | ||
| Q2 25 | $306.6M | — | ||
| Q1 25 | $272.5M | — | ||
| Q4 24 | $303.0M | — | ||
| Q3 24 | $231.8M | — | ||
| Q2 24 | $224.0M | — | ||
| Q1 24 | $195.0M | — |
| Q4 25 | $129.6M | — | ||
| Q3 25 | $80.7M | $1.6B | ||
| Q2 25 | $69.2M | — | ||
| Q1 25 | $2.8M | — | ||
| Q4 24 | $80.4M | — | ||
| Q3 24 | $-100.2M | — | ||
| Q2 24 | $-45.1M | — | ||
| Q1 24 | $-133.9M | — |
| Q4 25 | 29.3% | — | ||
| Q3 25 | 19.9% | -5.9% | ||
| Q2 25 | 18.9% | — | ||
| Q1 25 | -3.1% | — | ||
| Q4 24 | -1.4% | — | ||
| Q3 24 | -57.2% | — | ||
| Q2 24 | -32.8% | — | ||
| Q1 24 | -82.5% | — |
| Q4 25 | 32.3% | — | ||
| Q3 25 | 25.2% | 222.7% | ||
| Q2 25 | 22.6% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 26.5% | — | ||
| Q3 24 | -43.2% | — | ||
| Q2 24 | -20.2% | — | ||
| Q1 24 | -68.7% | — |
| Q4 25 | $0.37 | — | ||
| Q3 25 | $0.23 | $4.92 | ||
| Q2 25 | $0.22 | — | ||
| Q1 25 | $0.01 | — | ||
| Q4 24 | $0.23 | — | ||
| Q3 24 | $-0.31 | — | ||
| Q2 24 | $-0.13 | — | ||
| Q1 24 | $-0.43 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.5B | $158.0M |
| Total DebtLower is stronger | $9.0B | $9.3B |
| Stockholders' EquityBook value | $3.5B | $680.7M |
| Total Assets | $13.0B | $12.1B |
| Debt / EquityLower = less leverage | 2.54× | 13.64× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | $158.0M | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.3B | — |
| Q4 25 | $9.0B | — | ||
| Q3 25 | $7.7B | $9.3B | ||
| Q2 25 | $7.6B | — | ||
| Q1 25 | $7.1B | — | ||
| Q4 24 | $7.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.3B | $680.7M | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $2.9B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.8B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.6B | — |
| Q4 25 | $13.0B | — | ||
| Q3 25 | $11.5B | $12.1B | ||
| Q2 25 | $11.2B | — | ||
| Q1 25 | $10.4B | — | ||
| Q4 24 | $10.5B | — | ||
| Q3 24 | $10.1B | — | ||
| Q2 24 | $9.5B | — | ||
| Q1 24 | $9.2B | — |
| Q4 25 | 2.54× | — | ||
| Q3 25 | 2.35× | 13.64× | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 2.49× | — | ||
| Q4 24 | 2.62× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.67× | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $173.7M | $229.8M |
| Free Cash FlowOCF − Capex | $118.0M | — |
| FCF MarginFCF / Revenue | 29.4% | — |
| Capex IntensityCapex / Revenue | 13.9% | — |
| Cash ConversionOCF / Net Profit | 1.34× | 0.14× |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | — | ||
| Q3 25 | $374.6M | $229.8M | ||
| Q2 25 | $74.6M | — | ||
| Q1 25 | $210.4M | — | ||
| Q4 24 | $312.0M | — | ||
| Q3 24 | $196.9M | — | ||
| Q2 24 | $68.8M | — | ||
| Q1 24 | $208.2M | — |
| Q4 25 | $118.0M | — | ||
| Q3 25 | $320.2M | — | ||
| Q2 25 | $23.5M | — | ||
| Q1 25 | $157.4M | — | ||
| Q4 24 | $268.1M | — | ||
| Q3 24 | $152.7M | — | ||
| Q2 24 | $30.5M | — | ||
| Q1 24 | $161.7M | — |
| Q4 25 | 29.4% | — | ||
| Q3 25 | 99.9% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | 57.7% | — | ||
| Q4 24 | 88.5% | — | ||
| Q3 24 | 65.9% | — | ||
| Q2 24 | 13.6% | — | ||
| Q1 24 | 82.9% | — |
| Q4 25 | 13.9% | — | ||
| Q3 25 | 17.0% | — | ||
| Q2 25 | 16.7% | — | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | 14.5% | — | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 17.1% | — | ||
| Q1 24 | 23.8% | — |
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | 0.14× | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 75.03× | — | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AFRM
| Merchant Network | $328.4M | 82% |
| Virtual Card Network | $73.0M | 18% |
| Commercial Agreement Amazon | $1.9M | 0% |
UNIT
| Revenue And Sales | $315.5M | 44% |
| DSL Subscriber And Other | $102.7M | 14% |
| Fiber Subscriber | $77.7M | 11% |
| Business Services | $66.4M | 9% |
| Uniti Fiber | $55.7M | 8% |
| Wholesale | $54.8M | 8% |
| Sales Revenue | $27.3M | 4% |
| Time Division Multiplexing | $8.7M | 1% |
| Switched Access | $2.2M | 0% |
