SoFi Boosts Full-Year Outlook As Membership Tops 17 Million

SoFi Technologies Inc. (NASDAQ:SOFI) stock traded higher Tuesday after the digital financial services company reported better-than-expected third-quarter financial results, raised its full-year 2026 guidance and issued a 2027 outlook that exceeded Wall Street estimates.

The San Francisco-based company reported third-quarter adjusted earnings of 18 cents per share, beating the analyst consensus estimate of 17 cents.

Adjusted net revenue rose 44% year over year to a record $1.371 billion, exceeding expectations of $1.256 billion.

Adjusted EBITDA jumped 70% year over year to a record $469.8 million, representing a 34% margin.

“We had exceptional Q3 results against the backdrop of any environment, but they are even more remarkable given how 2026 has unfolded,” said SoFi CEO Anthony Noto.

“Our focus is simple. We are adding more members, who are using more products, and generating more revenue per product to create the most value for our shareholders over the long run,” Noto added.

Business Highlights

SoFi added a record 1.2 million members during the quarter, bringing its total membership to 17.1 million, an increase of 35% year over year.

Total products grew 44% to 26.7 million, including a record 2.2 million products added during the quarter. Products per member increased to 1.56 from 1.47 a year earlier.

The company’s lending segment generated $807.4 million in adjusted net revenue, up 68% year over year, driven by strong demand for personal loans and higher origination fees.

Total loan originations reached a record $16.9 billion, increasing 71% from a year earlier. Personal loan originations rose 69% to $12.6 billion, while student loan originations surged 96% to $2.9 billion. Home loan originations climbed 44% to $1.4 billion.

Financial Services segment revenue increased 25% year over year to $525.1 million, supported by growth in deposits, spending and investment products.

Total deposits increased $5.8 billion during the quarter to $51.3 billion.

Meanwhile, Technology Platform segment revenue declined 24% year over year to $87.4 million, reflecting the departure of a large client that completed its transition off the platform in 2025. Excluding that impact, segment revenue increased 18% from a year earlier.

Outlook

SoFi raised its full-year 2026 adjusted earnings guidance to 61 cents per share, up from 60 cents previously and above the analyst consensus estimate of 59 cents.

The company also increased its 2026 adjusted net revenue forecast to approximately $5.04 billion from its previous range of $4.75 billion to $4.85 billion, exceeding Wall Street expectations of $4.874 billion.

SoFi expects full-year adjusted EBITDA of approximately $1.66 billion and net income of about $840 million.

Looking ahead to 2027, the company forecasts adjusted earnings of approximately 90 cents per share, above analysts’ expectations of 81 cents.

SoFi projects 2027 adjusted net revenue of approximately $6.4 billion, compared with the consensus estimate of $5.991 billion. The forecast represents approximately 27% annual revenue growth.

The company also expects 2027 adjusted EBITDA of approximately $2.24 billion and net income of approximately $1.28 billion.

SoFi said its long-term ambitions include reaching 100 million products by 2030 and scaling five businesses to more than $1 billion in revenue, five businesses to more than $500 million and five businesses to more than $100 million.

Price Action

SOFI Price Action: SoFi Technologies shares were trading up 9.13% at $15.78 at the time of publication on Tuesday, according to Benzinga Pro data.

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