Overview
- SoFi reported record second‑quarter net revenue of about $1.2 billion and adjusted EPS of $0.12, with adjusted EBITDA near $358 million, according to its July 29 earnings release.
- Management raised full‑year revenue guidance to $4.75 billion–$4.85 billion but left adjusted EPS guidance at roughly $0.60, a choice that markets read as prioritizing reinvestment over near‑term profit growth.
- Shares fell roughly 9%–10% on the earnings news and guidance, extending a year‑to‑date slide that had already cut the stock by about one‑third, as investors focused on margin trajectory rather than the top‑line beat.
- The company said lending drove the quarter with record originations of $14.8 billion, membership of 15.8 million and deposits of $45.5 billion, while it expanded crypto services (SoFiUSD) and launched a regulated Big Business Banking product for institutional clients.
- Analysts flagged cost and mix pressures that cloud near‑term profits: Technology Platform revenue declined about 23% after a large client exit and sales and marketing spend rose materially, leaving credit quality, margin improvement, and a recovery in platform revenue as the key items to watch next.