Key Highlights

  • Adjusted net revenue was $1.371 billion, up 44%, and GAAP net income was $241.0 million, up 73%.
  • Diluted EPS was $0.18 against $0.17 as screened (7.45% surprise as screened).
  • Members reached 17.1 million, up 35%, with a record 1.2 million added in the quarter.
  • Loan originations hit a record $16.9 billion, up 71%.
  • 2026 adjusted net revenue guidance was raised to about $5.04 billion; 2027 is set at about $6.4 billion.

SoFi Earnings: What Is Behind the 44% Revenue Jump and the $6.4 Billion 2027 Target?

SoFi Technologies (NASDAQ:SOFI) reported third-quarter results on Tuesday, October 27, with adjusted net revenue of $1.371 billion, up 44% from a year earlier. GAAP net revenue was $1.385 billion. GAAP net income was $241.0 million, up 73%, and diluted EPS was $0.18, up 64%, against $0.17 as screened.

Management raised 2026 guidance and introduced 2027 targets. Full-year 2026 adjusted net revenue is expected at about $5.04 billion, roughly 40% growth, and 2027 at about $6.4 billion, roughly 27% growth. The company attributed the raise to the third-quarter beat and stronger fourth-quarter expectations.

SoFi Results: Which Segments Drove Record Originations and a 34% EBITDA Margin?

Adjusted EBITDA was $469.8 million, up 70%, a 34% margin. Adjusted net income was $243.0 million, the company's twelfth consecutive profitable quarter. Fee-based revenue was $570.6 million, or 42% of the total.

Lending revenue rose 66% to $821.3 million on record originations of $16.9 billion, up 71%, including about $3.8 billion through the Loan Platform Business. Adjusted lending contribution margin was 56%. Financial Services revenue grew 25% to $525.1 million, with revenue per product of $90 versus $88 in the prior quarter.

Technology Platform revenue fell 24% to $87.4 million, though it rose 18% excluding a client that transitioned off the platform.

SoFi Credit and Capital: Are Losses and Balance Sheet Buffers Keeping Pace?

The personal loan net charge-off rate was 2.26% annualized and the student loan rate was 0.63%. Management said credit performance was in line with expectations and reiterated a 7% to 8% maximum cumulative net loss assumption for personal loans.

Total deposits were $51.3 billion, up $5.8 billion in the quarter. Net interest margin was 6.14%, up 16 basis points from the prior quarter.

The estimated common equity tier 1 ratio was 16.9% against a 7.0% requirement, down from 20.0% a year earlier. Equity was $11.3 billion, and tangible book value per share was $7.48, up 25%. Debt rose to $3.86 billion from $1.82 billion at the end of 2025.

SoFi Guidance: What Do the Raised 2026 and New 2027 Figures Imply?

For 2026, the company now expects adjusted EBITDA of about $1.66 billion, a 33% margin, net income of about $840 million and EPS of about $0.61. Member growth is expected to be at least 30%. The company gives approximate figures rather than ranges.

For 2027, it expects adjusted EBITDA of about $2.24 billion, a 35% margin, net income of about $1.28 billion and EPS of about $0.90. Subtracting nine-month actuals implies fourth-quarter adjusted net revenue of about $1.38 billion, as calculated here.

The chief executive framed the strategy around adding members, growing products per member, and raising revenue per product. Products reached 26.7 million, up 44%, or about 1.56 per member.

SoFi Next Steps: What Should Be Watched After the Beat?

The fourth-quarter report will test the implied revenue figure, while personal loan credit trends and the pace of Loan Platform sales will show whether originations keep converting to earnings. Capital ratios, which declined from last year as the balance sheet grew, are also worth tracking.