Overview
- SoFi, which reported Wednesday, posted record Q1 adjusted revenue of about $1.1 billion and EPS of $0.12.
- Members rose 35% to 14.7 million and loan originations hit a record $12.2 billion, led by personal loans.
- Shares fell roughly 8% to 13% after management kept 2026 targets near $4.65 billion in revenue and about $0.60 in EPS, with Q2 growth guidance also below many forecasts.
- Technology Platform sales dropped 27% to about $75 million after a large client left the banking‑infrastructure line, and fee‑based revenue missed analyst estimates.
- Overall credit losses improved to a 2.07% net charge‑off rate, though student‑loan write‑offs rose, keeping investor scrutiny high following March’s Muddy Waters short‑seller report.