Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

Affirm FY Q2 2022 Earnings Review: Leading BNPL Player Maintains Its Hyper-Growth Trajectory

Green World FinTech Service: Green Light On

Chainalysis: Blockchain Service Capturing Crypto Crime

APAC Notable Consumer Finance Private Companies

Paytm IPO: More Expensive than Global Payment Giants and SOTP Suggests More Than 40% Discount

Gravity Works As WeWork Doesn't; Now Plan B

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<ul>
<li>Affirm Holdings is a buy now, pay later (BNPL) firm with services that can be considered an alternative to credit cards. </li>
<li>Peloton is Affirm’s largest consumer who accounts for about 35.0% of its revenues, the company has struck partnerships with Shopify and Amazon to reduce its dependence on Peloton.</li>
<li>BNPL accounts for a negligible share of e-commerce payments in the US which is expected to expand over the next few years.</li>
</ul>


Affirm Holdings is a buy now, pay later (BNPL) firm with services that can be considered an alternative to credit cards. 
Peloton is Affirm’s largest consumer who accounts for about 35.0% of its revenues, the company has struck partnerships with Shopify and Amazon to reduce its dependence on Peloton.
BNPL accounts for a negligible share of e-commerce payments in the US which is expected to expand over the next few years.


Affirm Holdings: Dominant Leader in BNPL with Strong Growth Prospects Ahead