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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and Verisign (VRSN). Click either name above to swap in a different company.
Verisign is the larger business by last-quarter revenue ($425.3M vs $401.4M, roughly 1.1× Affirm Holdings, Inc.). Verisign runs the higher net margin — 48.5% vs 32.3%, a 16.2% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs 7.6%). Verisign produced more free cash flow last quarter ($285.1M vs $118.0M). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs 5.2%).
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.
Verisign, Inc. is an American company based in Reston, Virginia, that operates a diverse array of network infrastructure, including two of the Internet's thirteen root nameservers, the authoritative registry for the .com, .net, and .name generic top-level domains and the .cc country-code top-level domains, and the back-end systems for the .jobs and .edu sponsored top-level domains.
AFRM vs VRSN — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $425.3M |
| Net Profit | $129.6M | $206.2M |
| Gross Margin | — | 88.5% |
| Operating Margin | 29.3% | 67.0% |
| Net Margin | 32.3% | 48.5% |
| Revenue YoY | 32.5% | 7.6% |
| Net Profit YoY | 61.3% | 7.7% |
| EPS (diluted) | $0.37 | — |
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 | $425.3M | ||
| Q3 25 | $320.5M | $419.1M | ||
| Q2 25 | $306.6M | $409.9M | ||
| Q1 25 | $272.5M | $402.3M | ||
| Q4 24 | $303.0M | $395.4M | ||
| Q3 24 | $231.8M | $390.6M | ||
| Q2 24 | $224.0M | $387.1M | ||
| Q1 24 | $195.0M | $384.3M |
| Q4 25 | $129.6M | $206.2M | ||
| Q3 25 | $80.7M | $212.8M | ||
| Q2 25 | $69.2M | $207.4M | ||
| Q1 25 | $2.8M | $199.3M | ||
| Q4 24 | $80.4M | $191.5M | ||
| Q3 24 | $-100.2M | $201.3M | ||
| Q2 24 | $-45.1M | $198.8M | ||
| Q1 24 | $-133.9M | $194.1M |
| Q4 25 | — | 88.5% | ||
| Q3 25 | — | 88.4% | ||
| Q2 25 | — | 88.0% | ||
| Q1 25 | — | 87.7% | ||
| Q4 24 | — | 87.8% | ||
| Q3 24 | — | 88.0% | ||
| Q2 24 | — | 87.8% | ||
| Q1 24 | — | 87.2% |
| Q4 25 | 29.3% | 67.0% | ||
| Q3 25 | 19.9% | 67.8% | ||
| Q2 25 | 18.9% | 68.5% | ||
| Q1 25 | -3.1% | 67.4% | ||
| Q4 24 | -1.4% | 66.7% | ||
| Q3 24 | -57.2% | 68.9% | ||
| Q2 24 | -32.8% | 68.8% | ||
| Q1 24 | -82.5% | 67.4% |
| Q4 25 | 32.3% | 48.5% | ||
| Q3 25 | 25.2% | 50.8% | ||
| Q2 25 | 22.6% | 50.6% | ||
| Q1 25 | 1.0% | 49.5% | ||
| Q4 24 | 26.5% | 48.4% | ||
| Q3 24 | -43.2% | 51.5% | ||
| Q2 24 | -20.2% | 51.4% | ||
| Q1 24 | -68.7% | 50.5% |
| Q4 25 | $0.37 | — | ||
| Q3 25 | $0.23 | — | ||
| 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 | $580.5M |
| Total DebtLower is stronger | $9.0B | — |
| Stockholders' EquityBook value | $3.5B | $-2.2B |
| Total Assets | $13.0B | $1.3B |
| Debt / EquityLower = less leverage | 2.54× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $580.5M | ||
| Q3 25 | $1.4B | $617.7M | ||
| Q2 25 | $1.4B | $593.8M | ||
| Q1 25 | $1.4B | $648.5M | ||
| Q4 24 | $1.2B | $599.9M | ||
| Q3 24 | $1.0B | $644.9M | ||
| Q2 24 | $1.0B | $689.9M | ||
| Q1 24 | $1.3B | $924.7M |
| Q4 25 | $9.0B | — | ||
| Q3 25 | $7.7B | — | ||
| Q2 25 | $7.6B | — | ||
| Q1 25 | $7.1B | — | ||
| Q4 24 | $7.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.5B | $-2.2B | ||
| Q3 25 | $3.3B | $-2.1B | ||
| Q2 25 | $3.1B | $-2.0B | ||
| Q1 25 | $2.9B | $-2.0B | ||
| Q4 24 | $2.8B | $-2.0B | ||
| Q3 24 | $2.8B | $-1.9B | ||
| Q2 24 | $2.7B | $-1.8B | ||
| Q1 24 | $2.6B | $-1.6B |
| Q4 25 | $13.0B | $1.3B | ||
| Q3 25 | $11.5B | $1.4B | ||
| Q2 25 | $11.2B | $1.4B | ||
| Q1 25 | $10.4B | $1.4B | ||
| Q4 24 | $10.5B | $1.4B | ||
| Q3 24 | $10.1B | $1.5B | ||
| Q2 24 | $9.5B | $1.5B | ||
| Q1 24 | $9.2B | $1.7B |
| Q4 25 | 2.54× | — | ||
| Q3 25 | 2.35× | — | ||
| 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 | $289.6M |
| Free Cash FlowOCF − Capex | $118.0M | $285.1M |
| FCF MarginFCF / Revenue | 29.4% | 67.0% |
| Capex IntensityCapex / Revenue | 13.9% | 1.1% |
| Cash ConversionOCF / Net Profit | 1.34× | 1.40× |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | $1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | $289.6M | ||
| Q3 25 | $374.6M | $307.7M | ||
| Q2 25 | $74.6M | $202.5M | ||
| Q1 25 | $210.4M | $291.3M | ||
| Q4 24 | $312.0M | $231.5M | ||
| Q3 24 | $196.9M | $253.4M | ||
| Q2 24 | $68.8M | $160.4M | ||
| Q1 24 | $208.2M | $257.3M |
| Q4 25 | $118.0M | $285.1M | ||
| Q3 25 | $320.2M | $303.0M | ||
| Q2 25 | $23.5M | $194.7M | ||
| Q1 25 | $157.4M | $285.5M | ||
| Q4 24 | $268.1M | $222.0M | ||
| Q3 24 | $152.7M | $247.8M | ||
| Q2 24 | $30.5M | $151.2M | ||
| Q1 24 | $161.7M | $253.5M |
| Q4 25 | 29.4% | 67.0% | ||
| Q3 25 | 99.9% | 72.3% | ||
| Q2 25 | 7.7% | 47.5% | ||
| Q1 25 | 57.7% | 71.0% | ||
| Q4 24 | 88.5% | 56.1% | ||
| Q3 24 | 65.9% | 63.4% | ||
| Q2 24 | 13.6% | 39.1% | ||
| Q1 24 | 82.9% | 66.0% |
| Q4 25 | 13.9% | 1.1% | ||
| Q3 25 | 17.0% | 1.1% | ||
| Q2 25 | 16.7% | 1.9% | ||
| Q1 25 | 19.5% | 1.4% | ||
| Q4 24 | 14.5% | 2.4% | ||
| Q3 24 | 19.0% | 1.4% | ||
| Q2 24 | 17.1% | 2.4% | ||
| Q1 24 | 23.8% | 1.0% |
| Q4 25 | 1.34× | 1.40× | ||
| Q3 25 | 4.64× | 1.45× | ||
| Q2 25 | 1.08× | 0.98× | ||
| Q1 25 | 75.03× | 1.46× | ||
| Q4 24 | 3.88× | 1.21× | ||
| Q3 24 | — | 1.26× | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 1.33× |
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% |
VRSN
Segment breakdown not available.
