The fintech sector is undergoing a clear shift from hypergrowth at all costs to disciplined, sustainable expansion. Recent results from Q2 ’25 show that while global leaders like Visa and Global Payments are seeing expense growth outpace gross profit, firms such as Affirm and Toast prove that high growth can still be achieved with operating discipline. Net profit margins, capital efficiency, and leverage profiles vary widely across the peer set, underscoring the different strategies shaping...
