SoFi’s (NASDAQ: SOFI) Q1 Net Income Falls 19% Amid Cost Surge; Eyes Up to USD 805M Revenue in Q2

Fri 13 Jun 25, 12:09 AM |

Highlights

  • SOFI’s Q1FY25 total interest income increased by 14.7% YoY to USD 763.8 million.
  • The company recorded a net income of USD 71.1 million, reflecting a decrease due to increased total non-interest expenses and higher income tax expenses.
  • SoFi Technologies launched a USD 2 million Rising Stars Program for Tennessee students in partnership with Kelsea Ballerini and tnAchieves.

SoFi Technologies, Inc. (NASDAQ: SOFI) is a financial services provider offering lending, investment, and money management solutions through its Lending, Technology Platform, and Financial Services segments. Its platform enables members to borrow, save, spend, invest, and manage finances across the full credit lifecycle.

In the first quarter of the financial year 2025 (Q1FY25), the company’s total interest income increased by 14.7% YoY to USD 763.8 million, primarily driven by a 23% increase in average interest-earning assets, reflecting the company’s expansion in its lending portfolio. However, net income declined by 19.2% yYoY to USD 71.1 million, due to increased total non-interest expenses as well as higher income tax expenses. Cash flow from operating activities dipped by 97.1% YoY to USD 21.5 million due to decreased cash flow from the origination and purchase of loans, resulting in a 17.8% YoY decline in cash and cash equivalents.

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