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Affirm, the provider of buy now, pay later loans, reported better-than-expected fiscal first-quarter results.

Here is how the company did, compared to analysts’ consensus estimates from LSEG.

  • Loss per share: 31 cents adjusted vs. a loss of 35 cents expected
  • Revenue: $698 million vs. $664 million expected

Affirm reported gross merchandise volume, or GMV, of $7.6 billion, topping the average estimate of $7.28 billion, according to StreetAccount. GMV, a key metric that helps gauge the total value of transactions, increased 35% from a year earlier.

Revenue in the fiscal first quarter rose 41% from $496.5 million a year earlier.

Revenue less transaction costs, or RLTC, came in at $285 million, ahead of earlier guidance of $265 million to $280 million.

Affirm said it expects to achieve profitability on a GAAP basis in its fiscal fourth quarter of 2025. Last quarter, CEO Max Levchin said in a note to shareholders that the company had set a new goal of hitting operating profitability on a GAAP basis by the end of its fiscal year.

The company sees second-quarter revenue of between $770 million and $810 million, or $790 million in the middle of the range, versus the average estimate of $785 million, according to LSEG. Affirm is guiding to GMV in the range of $9.35 billion to $9.75 billion. Analysts polled by StreetAccount called for GMV of $9.48 billion.

Affirm shares were about flat for the year as of Thursday’s close, but have been trending higher lately, up more than 70% since the end of August.

The company’s new relationship with Apple plus other partnerships with Amazon and Shopify are helping results. In June, Affirm and Apple announced plans for U.S. Apple Pay users on iPhones and iPads to be able to apply for loans directly through Affirm.

“Affirm’s growth story has continued, particularly as they add new strategic distribution partners,” Kevin Kennedy, an analyst at global research firm Third Bridge, said in an email.

Kennedy added that the quality of Affirm’s underwriting, specifically for higher-priced orders and interest-bearing BNPL purchases, sets the company apart from the growing list of competitors.

“The payments space is constantly facing commoditization risk, and BNPL, while nascent, is facing the same challenge,” he wrote. “However, large ticket interest bearing purchases, which are becoming more accessible through Affirm, are better protected” compared with offerings from peers, he added.

Square parent Block, which also reported earnings after the bell, acquired BNPL firm Afterpay for $29 billion in 2021.

Affirm’s quarterly earnings call starts at 5:00 p.m. ET.

CNBC’s Robert Hum contributed to this report.

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Denver Public Library deploys novel solar and battery storage system

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Denver Public Library deploys novel solar and battery storage system

Sustainable construction experts McKinstry have teamed up with leading BESS developers Viridi and the Denver Public Library to deploy a first-of-its-kind solar and battery storage system that sets a new standard for fire safety.

The Denver Public Library sought a battery energy storage system (BESS) that could deliver cost savings without compromising safety for staff, visitors, or the architecturally significant, Michael Graves–designed structure itself. That required a battery backup solution that not only met the city’s fire safety standards, but also addressed public fears about the risk of lithium-ion battery fires.

That unique set of project priorities led the library to Viridi, makers of the RPSLinkEX battery solution that’s equipped with a unique, “passive Fail-Safe thermal management and anti-propagation technology” designed to prevent the sort of thermal runaway that leads to li-ion battery fires.

“Public facilities like the Denver Public Library are at the forefront of demonstrating that energy resilience and safety can go hand in hand,” said Jon M. Williams, CEO at Viridi. “This installation highlights how fail-safe battery storage can empower communities to maximize renewable energy, reduce costs, and maintain reliability – all without compromise.”

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Keeping it safe


Denver Public Library; by Michael Graves.
Denver Public Library; by Michael Graves.

Viridi doesn’t talk too much about how its passive Fail-Safe thermal management system works, but if you’re picturing heat-dissipating layers, fire-resistant insulation, and strategically-placed phase change materials (or PCMs) limiting the transfer of heat from one cell to another if it begins to overheat, you’ve probably cracked it.

These passive safety features enable safer deployment scenarios in occupied buildings or near critical infrastructure by reducing dependence on active fire suppression systems like sprinklers or fire extinguishers, and convinced the City of Denver to move forward with the project, which is the city’s first-ever solar + battery storage system.

“The entire McKinstry team is very excited about developing and constructing the first Solar + BESS project for the City and County of Denver,” said Jon Ensley, Sr. Construction Project Engineer at McKinstry. “We are appreciative of all our partners and stakeholders who helped to achieve this goal. We value Viridi’s expertise in deploying this technology and the whole team has been great to work with.”

McKinstry says this latest solar project sets, “a new benchmark for how cities can combine renewable energy and battery storage without compromising safety.” And, with solutions like the RPSLinkEX building systems that meet city planners and politicians where they are, instead of trying to educated them about the objective, proven safety of li-ion batteries, Viridi is helping communities adopt cleaner, more resilient clean energy solutions sooner rather than later.

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SOURCE | IMAGES: Viridi, via PV Magazine; Michael Graves.


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Environment

China installs the world’s most powerful wind turbine

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China installs the world's most powerful wind turbine

China’s Dongfang Electric has installed a 26-megawatt offshore wind turbine, snatching the title of world’s most powerful from Siemens Gamesa’s 21.5 turbine in Denmark.

Photo: Dongfang Electric Corporation

The Chinese state-owned manufacturer announced today that it has installed the world’s most powerful wind turbine prototype at a testing and certification base. This turbine, the world’s largest for capacity and size, boasts a blade wheel diameter of more than 310 meters (1,107 feet) and a hub height of 185 meters (607 feet). Dongfang shipped the turbine’s nacelle earlier this month – the world’s heaviest – along with three blades.

This offshore wind turbine is designed for areas with wind speeds of 8 meters per second and above. With average winds of 10 meters per second, just one of these giants can generate 100 GWh of power annually, which is enough to power 55,000 homes. That’s enough to cut standard coal consumption by 30,000 tons and reduce CO2 emissions by 80,000 tons. Dongfang says it’s wind resistant up to 17 (200 km/h) on the extended Beaufort scale.

In May, Dongfang said it had completed static load testing on the turbine’s blades, and the turbine is now undergoing fatigue testing, which could take up to a year before the turbine is fully certified.

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Read more: Trump just killed all offshore wind zones as US power needs surge


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Environment

John Deere joins the robot revolution with GUSS acquisition

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John Deere joins the robot revolution with GUSS acquisition

The autonomous ag equipment experts behind the GUSS robotic sprayers have been developing their AI tech as part of a JV with John Deere for years — and now, that marriage is official. John Deere has acquired 100% of GUSS, and has big plans to pick up that tech and run with it like a … well, you know.

The latest battery-powered GUSS autonomous sprayer made its debut at the 2024 World Ag Expo show in Tulare, California, last summer, where executives from Deere called it, “the world’s first and only fully electric autonomous herbicide orchard sprayer.”

Since then, interest in automated ag equipment has only grown — fueled not just by rising demand for affordable food and produce, but by a national labor shortage made worse by the Trump Administration’s tough anti-immigration policies as well. It’s specifically those challenges around labor availability, input costs, and crop protection that GUSS and John Deere have been spending millions to address.

“Fully integrating GUSS into the John Deere portfolio is a continuation of our dedication to serving high-value crop customers with advanced, scalable technologies to help them do more with less,” explains Julien Le Vely, director, Production Systems, High Value & Small Acre Crops, at John Deere. “GUSS brings a proven solution to a fast-growing segment of agriculture, and its team has a deep understanding of customer needs in orchards and vineyards. We’re excited to have them fully part of the John Deere team.”

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About GUSS


GUSS autonomous farm sprayer; via John Deere.
GUSS autonomous farm sprayer; via John Deere.

The GUSS electric sprayer is powered by a Kreisel Battery Pack 63 (KBP63), which has a nominal energy capacity of 63 kWh, enabling the machine to operate for 10-12 continuous hours between overnight (L2) charges.

The GUSS electric sprayers feature the Smart Apply weed detection system that measures chlorophyll in the various plants it encounters, identifying weeds embedded among the crops, and only sprays where weeds are detected. The company claims its weed detecting tech significantly reduces the amount of chemicals being sprayed onto farmers’ crops, resulting in “up to 90% savings” in sprayed material.

John Deere’s deep pockets will support GUSS as it continues to expand its global reach, and help the group to accelerate Smart Apply’s innovation and integration with other John Deere precision agriculture technologies.

“Joining John Deere enables us to tap into their unmatched innovative capabilities in precision agriculture technologies to bring our solutions to more growers around the world,” says Gary Thompson, GUSS’ COO. “Our team is passionate about helping high-value crop growers increase their efficiency and productivity in their operations, and together with John Deere, we will have the ability to have an even greater impact.”

GUSS-brand autonomous sprayers will be sold and serviced exclusively through John Deere dealers, and the GUSS business will retain its name, branding, employees, and independent manufacturing facility in Kingsburg, California.

More than 250 GUSS machines have been deployed globally, having sprayed more than 2.6 million acres over 500,000 autonomous hours of operation.

Electrek’s Take


John Deere and GUSS Automation Unveil Electric Option and Smart Apply Upgrade

Population growth, while slowing, is still very much a thing – and fewer and fewer people seem to be willing to do the work of growing the food that more and more people need to eat and live. This autonomous tech multiplies the efforts of the farmers that do show up for work every day, and the fact that it’s more sustainable from both a fuel perspective and a toxic chemical perspective makes GUSS a winner.

SOURCE I IMAGES: John Deere.


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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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