Invesaro

Stocks Comparison

Affirm vs Happen: revenue, profit, margins and growth compared

Affirm brought in $4.3B of revenue in fiscal 2026, Happen $998.8M in fiscal 2025. Revenue changed by +32.2% at Affirm and +26.9% at Happen on the year before, so Affirm grew faster. Affirm kept 45.3% of its revenue as net profit, Happen 13.6%. Free cash flow was $992.6M at Affirm and -$2.9B at Happen.

Side by side, latest fiscal year

AFRMHAPN
Fiscal year endedFY2026 (June 30, 2026)FY2025 (December 31, 2025)
Revenue$4.3B$998.8M
Revenue growth+32.2%+26.9%
Net income$1.9B$135.7M
Net margin45.3%13.6%
Free cash flow$992.6M-$2.9B
Free cash flow margin23.3%-287.1%
Earnings per share (diluted)$5.53$1.16
Cash$1.6B$930.4M
Debt$9.8B$0
Price to earnings12.913.0
Market value$24B$1.7B
Dividend yieldn/an/a
Rank by revenue in sector#106 of 444 · Finance#190 of 444 · Finance

Over the years

Revenue
AFRM FY2019: $264.4MAFRM FY2021: $509.5MAFRM FY2021: $870.5MAFRM FY2022: $1.3BAFRM FY2023: $1.6BAFRM FY2024: $2.3BAFRM FY2025: $3.2BAFRM FY2026: $4.3BHAPN FY2018: $694.8MHAPN FY2019: $758.6MHAPN FY2020: $318.1MHAPN FY2021: $818.6MHAPN FY2022: $1.2BHAPN FY2023: $864.6MHAPN FY2024: $787MHAPN FY2025: $998.8MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AFRM $4.3BHAPN $998.8M
Net income
AFRM FY2019: -$120.5MAFRM FY2021: -$112.6MAFRM FY2021: -$441MAFRM FY2022: -$707.4MAFRM FY2023: -$985.3MAFRM FY2024: -$517.8MAFRM FY2025: $52.2MAFRM FY2026: $1.9BHAPN FY2018: -$128.3MHAPN FY2019: -$30.7MHAPN FY2020: -$187.5MHAPN FY2021: $18.6MHAPN FY2022: $289.7MHAPN FY2023: $38.9MHAPN FY2024: $51.3MHAPN FY2025: $135.7MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AFRM $1.9BHAPN $135.7M
Net margin
AFRM FY2019: -45.6%AFRM FY2021: -22.1%AFRM FY2021: -50.7%AFRM FY2022: -52.4%AFRM FY2023: -62.1%AFRM FY2024: -22.3%AFRM FY2025: 1.6%AFRM FY2026: 45.3%HAPN FY2018: -18.5%HAPN FY2019: -4.1%HAPN FY2020: -59.0%HAPN FY2021: 2.3%HAPN FY2022: 24.4%HAPN FY2023: 4.5%HAPN FY2024: 6.5%HAPN FY2025: 13.6%FY18FY19FY20FY21FY22FY23FY24FY25FY26
AFRM 45.3%HAPN 13.6%
Revenue growth
AFRM FY2021: +92.7%AFRM FY2021: +70.8%AFRM FY2022: +55.0%AFRM FY2023: +17.7%AFRM FY2024: +46.3%AFRM FY2025: +38.8%AFRM FY2026: +32.2%HAPN FY2019: +9.2%HAPN FY2020: -58.1%HAPN FY2021: +157.4%HAPN FY2022: +45.0%HAPN FY2023: -27.2%HAPN FY2024: -9.0%HAPN FY2025: +26.9%FY19FY20FY21FY22FY23FY24FY25FY26
AFRM +32.2%HAPN +26.9%
Free cash flow
AFRM FY2019: -$107.1MAFRM FY2021: -$92.3MAFRM FY2021: -$213.4MAFRM FY2022: -$248.5MAFRM FY2023: -$108.6MAFRM FY2024: $290.8MAFRM FY2025: $601.7MAFRM FY2026: $992.6MHAPN FY2018: -$692.7MHAPN FY2019: -$321.3MHAPN FY2020: $386.9MHAPN FY2021: $205.5MHAPN FY2022: $306.1MHAPN FY2023: -$1.2BHAPN FY2024: -$2.7BHAPN FY2025: -$2.9BFY18FY19FY20FY21FY22FY23FY24FY25FY26
AFRM $992.6MHAPN -$2.9B

Fiscal years as each company reports them; the two may end in different months.

Questions about Affirm and Happen

Which is bigger by revenue, Affirm or Happen?

Affirm is bigger by revenue: $4.3B in fiscal 2026, against $998.8M for Happen in fiscal 2025.

Which keeps more of its revenue as profit, Affirm or Happen?

Affirm had a net margin of 45.3% in fiscal 2026; Happen had 13.6% in fiscal 2025.

Which grew revenue faster, Affirm or Happen?

In their latest fiscal years revenue changed by +32.2% at Affirm and +26.9% at Happen.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

More comparisons

Compare more companies