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  "documentTitle": "Affirm | Investor Day Presentation Deck | 98 slides",
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  "authorName": "Affirm",
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  "presentationDate": "2023-11-01 00:00:00",
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      "text": "FY'21A $65, FY'22A $342, FY'23A $499, FY'24P $499, FY'25P $342, FY'26P $132, FY'27P $132, FY'28P $132, FY'29P $132",
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      "text": "Enterprise Partner 1, Enterprise Partner 2 - A tranche, Enterprise Partner 2 - B&C tranches, Enterprise Partner 2 - Performance tranche",
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      "kind": "paragraph",
      "text": "We expect total enterprise warrant and commercial agreement expense to decline substantially over time",
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      "kind": "paragraph",
      "text": "Excluding remaining unearned and unvested warrants at $100 strike price, we expect < 1% annual dilution from the remaining enterprise warrants",
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      "text": "Enterprise Partner performance warrants will be earned only in the event that certain performance provisions and new user acquisition performance thresholds are met. This presentation does not provide a projection of the probability and / or timing of the Enterprise Partner meeting these thresholds.",
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      "text": "$ million unless otherwise indicated",
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      "text": "Merchant Agreement: Enterprise Partner 1, Enterprise Partner 2 - A tranche, Enterprise Partner 2 - B&C tranches, Enterprise Partner 2 - Performance tranche\nAgreement Date: July 2020, November 2021, November 2021, November 2021\nWarrants Issued: 20.3M (at Signing), 1.0M (at Signing), 6.0M (3 Year Vest), Max of 15.0M (Performance Based by FY'29)\nStrike Price: $0.01, $0.01, $0.01, $100\nUnvested as of 9/30/23: Fully Vested, Fully Vested, 2.2M, 11M Before 2029 Agreement End",
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      "text": "Enterprise warrant expense and dilution",
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