TLDR
- SoFi Technologies reported Q3 revenue of $961.6M, beating analyst estimates by 7.4% with 38% year-over-year growth
- The fintech added 905,000 members in the quarter, reaching 12.6 million total users on the platform
- Loan originations reached a record $9.9B, up 57% from last year, while fee-based revenue grew 50%
- Net income jumped 141% to $139.4M as the company demonstrated profitability at scale
- Full-year guidance increased with adjusted net revenue now expected at $3.54B and EPS at $0.37
SoFi Technologies delivered third-quarter earnings that exceeded Wall Street expectations. The digital financial services company reported revenue of $961.6 million, crushing the consensus estimate of $895 million.
That represents 38% growth compared to the same quarter last year. Earnings per share hit $0.11, beating the $0.08 forecast.
The fintech added 905,000 new members during the three-month period. This brings total membership to 12.6 million users, up 35% year-over-year.
Members added 1.4 million products in the quarter. Total products across the platform now stand at 18.6 million, growing 36% from last year.
These metrics show users are engaging with multiple services. The one-stop shop approach is gaining traction.
Loan Volume Hits New Highs
Total loan originations reached $9.9 billion in Q3. That’s a 57% increase from the prior year and sets a new company record.
Personal loans drove much of the growth, hitting an all-time high of $7.5 billion. Student loan originations climbed 58% to $1.5 billion.
Home lending also set a record with nearly $945 million in originations. The company’s Loan Platform Business originated $3.4 billion on behalf of third-party partners.
Fee-based revenue jumped 50% to $408.7 million. This number matters because it shows revenue diversification beyond traditional lending.
The Loan Platform Business alone generated $167.9 million in revenue. When users adopt multiple products, fee revenue expands.
Net income surged 141% to $139.4 million. Adjusted EBITDA grew 49% to $276.9 million.
These figures demonstrate the company is reaching profitability at scale. Growth is translating into actual earnings.
Guidance Raised Across the Board
Management increased full-year 2025 projections following the strong quarter. Adjusted net revenue guidance now sits at approximately $3.54 billion.
The previous forecast was $3.375 billion. The updated guidance represents 36% annual growth.
Adjusted earnings per share guidance moved to $0.37 from $0.31 previously. Adjusted EBITDA is expected to reach roughly $1.035 billion for the full year.
The company projects adding at least 3.5 million new members in 2025. CEO Anthony Noto described the quarter as “exceptional” in his statement.
He emphasized the strategy is “battle-tested and built to outperform.” After years of developing the business model, execution is accelerating.
Net interest income rose 36% year-over-year to $585.1 million. Average interest-earning assets increased 29% while cost of funds dropped 76 basis points.
The company noted a decrease in multifamily lending activity. This represents a minor headwind but hasn’t derailed overall momentum.
SoFi shares gained 2.6% following the earnings announcement, with the stock trading near $30.91 as investors responded positively to the record results and raised guidance.
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