Overview
- SoFi reported on Wednesday a record second quarter with about $1.2 billion in adjusted net revenue, $156.6 million in net income, and $357.8 million in adjusted EBITDA alongside $14.8 billion in loan originations.
- Management raised full‑year revenue guidance to $4.75 billion–$4.85 billion but kept adjusted EBITDA near $1.6 billion and adjusted EPS around $0.60, and investors pushed the stock lower in response.
- The company added a record roughly 1.1 million new members, lifted total members to about 15.8 million, and saw products per member rise to 1.54 while 51% of new products were sold to existing customers, showing stronger cross‑sell effectiveness.
- SoFi’s tangible book value rose to $9.5 billion (about $7.34 per share), deposits reached $45.5 billion, and its total capital ratio stood at 18.8%, highlighting stronger capitalization even as valuation questions persist.
- Lingering investor skepticism from a March short‑seller report and earlier enterprise platform weakness now puts focus on whether cross‑sell, fee income, credit quality and margins can sustain profit growth and reverse the recent re‑rating.