Overview
- SoFi delivered a record quarter with roughly $1.2 billion in net revenue, $14.8 billion in loan originations, and a tangible book value of $9.5 billion.
- The company added a record 1.1 million members to reach 15.8 million and increased products per member to 1.54, signaling faster cross‑selling within its customer base.
- Management raised full‑year adjusted net revenue guidance to $4.75 billion–$4.85 billion but left adjusted EBITDA at about $1.6 billion and adjusted EPS at about $0.60, a mismatch that drove investor selling.
- SoFi’s balance sheet showed $45.5 billion in deposits and a total capital ratio of 18.8%, and profitability improved with net income of $156.6 million and adjusted EBITDA of $357.8 million.
- The stock decline reflects lingering skepticism from prior short‑seller claims, a recent drop in platform revenue after a large client exit, and investor focus on whether reinvestment will sustain durable margins or unlock upside from the roughly 2x tangible‑book valuation.