$Affirm Holdings, Inc.(AFRM)$ You don't buyback long term debt if you're concerned about your financial wellbeing. This debt isn't due until December 31, 2026.
As previously announced, in December 2023 the Affirm board of directors authorized the repurchase of up to $800 million in aggregate principal amount of our outstanding convertible debt during calendar year 2024. As of May 1, 2024, we repurchased approximately $77 million in face value of our convertible debt for $63 million in cash, resulting in a gain on repurchase of $13 million under this authorization. Following these repurchases, $723 million remains under the December repurchase authorization. Subject to market conditions, we will continue to evaluate opportunities to optimize the debt capital structure and proactively manage long-term liabilities. We may consider various approaches to execute any future convertible note repurchases.
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