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  "presentationDate": "2023-08-01 00:00:00",
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      "text": "Product:\nOur outlook includes the expected financial impact of the continued ramp of our Affirm Card offerings.",
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      "text": "Seasonality and product mix:\nWe expect increased consumer demand for our financing products in the fourth quarter of the calendar year, which is our second fiscal quarter, resulting in a quarterly high point for GMV.\nWe expect our second fiscal quarter to represent a quarterly low point for both Revenue as a percentage of GMV and RLTC as a percentage of GMV driven by the timing mismatch of Revenue and the Provision for Credit Losses in our business.\nThe reduced Revenue and RLTC as a percentage of GMV in our second fiscal quarter may result in adjusted operating losses in the period.",
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      "text": "Funding:\nWe expect Equity Capital Required (\"ECR\") as a percentage of Total Platform Portfolio (\"ECR Ratio\") to peak at approximately 6.5% in our first fiscal quarter and decrease thereafter.",
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      "text": "Pricing:\nWe expect to continue to realize year-over-year increases in the weighted-average APRs for interest-bearing loans.",
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      "text": "Interest rates and macroeconomic environment:\nThe current forward interest rate curve and negative consumer sentiment will persist through the remainder of the fiscal year ending June 30, 2024, with no improvement in macroeconomic conditions.\nWe assume that student loan payments will resume on October 1, 2023. We are incorporating consumers' student loan balances into our underwriting decisions, and therefore expect the resumption of loan repayments to be a modest headwind to our FY'24 GMV.",
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      "text": "Affirm's financial outlook calls for full year profitability, on an Adjusted Operating Income basis, in FY 2024.",
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