• Affirm Holdings average gross margin for 2023 was 36.15%, a 26.7% increase from 2022.
• Affirm Holdings average gross margin for 2022 was 49.32%, a 11.34% decline from 2021.
• Affirm Holdings average gross margin for 2021 was 55.63%, a 11.25% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.