Affirm Holdings Inc Q3 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Eugene M. Simuni - MoffettNathanson LLC - Analyst : I wanted to ask a relatively high-level question. Great to see strong credit performance over the last couple of quarters. I think it kind of gives the evidence to what you guys have been always saying, your ability to really control credit outcomes. So that's great to see. So that's a sort of thread that you pull, I think the natural question becomes is there an opportunity to (inaudible) to make the credit performance a little bit worse, but volume growth, which perhaps is something that would be desirable. So would love if you can give us your latest kind of philosophy on that. What opportunities do you see there especially as we exit the volatile times, hopefully that we're in today and maybe gives you a little bit more opportunity to turn that dial. I'd love to hear your thoughts on that.

Question: Eugene M. Simuni - MoffettNathanson LLC - Analyst : Got it. Got it. Very helpful. And then for a quick follow-up. Very interesting to see direct-to-consumer highlighted kind of at the top of the letter this time. It sounds like great progress in Debit+. Can you talk a little bit about direct-to-consumers strategically? And the way you laid it out in the shareholder letter, it sounded to me like the sequence of consumer engagement is still going to be merchant -- through merchant first and sort of direct-to-consumer then second. Am I interpreting that correctly? Or are you also going to be focusing on finding merchants who just engage