SoFi Technologies Q2 Earnings Call Highlights

• CPI Comes In Cool: Why It Could Revive These 3 Rate-Sensitive Stocks

SoFi Technologies (NASDAQ:SOFI) reported second-quarter 2026 results marked by 40% year-over-year adjusted net revenue growth, record loan originations and continued growth in members and products, while raising its full-year revenue outlook.

Adjusted net revenue rose to $1.2 billion in the quarter, while adjusted EBITDA increased 44% from a year earlier to $358 million, producing a 30% margin. Adjusted net income totaled $160 million, or $0.12 per share, including an approximately $0.005 per-share impact from a higher-than-expected tax rate. CFO Chris Lapointe said net income increased 61% year over year and that the company posted its 11th consecutive profitable quarter.

• Block’s Pivot to Profits and AI Is Turning Heads

“We had nothing short of an exceptional quarter,” CEO Anthony Noto said, citing a Rule of 40 score of 70, based on 40% revenue growth and a 30% adjusted EBITDA margin.

Member growth and cross-buying accelerate

SoFi added a record 1.1 million members during the quarter, bringing its total membership to 15.8 million, up 35% year over year. It also added 2.2 million products, lifting total products to 24.4 million, an increase of 42% from the prior-year period.

• Robinhood, SoFi, and Webull Are Telling Very Different Stories

Noto said the company added twice as many products as members for the first time, which he described as an important development for SoFi’s “Everything App” strategy. Cross-buying continued to rise, with 51% of new products opened by existing members, compared with 43% in the prior quarter and 35% in the second quarter of 2025.

The company said 87% of its products, or 21.3 million, were non-lending offerings, including SoFi Money, Relay, Invest, credit cards, crypto, insurance and its Plus subscription program. Noto said these products have broader appeal and lower customer-acquisition costs than lending products.

SoFi Plus, the company’s paid premium membership program, surpassed 200,000 paid subscribers following its relaunch during the quarter. The program represented more than $24 million in annualized revenue, according to Noto. He said 85% of new Plus subscribers were existing SoFi members, while 25% of those subscribers subsequently added another SoFi product.

SoFi also launched SoFi Coach in June, a financial-guidance tool powered by information from SoFi Relay and connected third-party accounts. Noto said Coach had generated nearly 500,000 conversations since launch, with more than 90% positive feedback. More than half of the interactions have centered on investing, he said.

Lending and platform activity reach records

The lending segment generated record adjusted net revenue of $712 million, up 59% from a year earlier. Total loan originations reached $14.8 billion, including $10.7 billion in personal loans, $2.7 billion in student loans and $1.4 billion in home loans.

Of total originations, $11.7 billion were generated for SoFi’s lending segment and $3.1 billion were originated through its Loan Platform Business, which originates loans on behalf of third parties. The Loan Platform Business generated $143 million of revenue during the quarter, Lapointe said.

SoFi expanded that platform beyond unsecured personal loans. The company reached an agreement with Sixth Street for up to $1 billion in personal-loan investments, agreed to a three-year, $3 billion small-business loan arrangement with BasePoint Capital, and began transferring home-equity loans to a leading global bank, according to Lapointe.

Lapointe said SoFi expects the newer small-business and home-equity categories to provide additional capital-light, fee-based revenue opportunities. Noto said the company launched its own small-business loan product after identifying demand from existing SoFi members who operate small businesses.

Credit metrics remained within the company’s expectations. Excluding the impact of delinquent-loan sales, the estimated all-in annualized net charge-off rate for personal loans was 3.7%, down 70 basis points sequentially. The on-balance-sheet 90-day personal-loan delinquency rate was 40 basis points, down 7 basis points from the first quarter.

Financial services, technology and new products

Financial Services segment revenue rose 29% year over year to $466 million. Record interchange-fee revenue increased 67%, supported by more than $28 billion in annualized spending across SoFi Money and credit cards. Brokerage-fee revenue rose 2.4 times from a year earlier, while Invest products increased 38%.

Technology Platform segment revenue was $85 million, up 13% from the prior quarter. The company said it acquired Peach Finance during the quarter, adding platform services for credit cards, lines of credit, buy now, pay later and installment lending.

SoFi also highlighted its blockchain and commercial-banking initiatives. The company said it began settling crypto trading activity in SoFiUSD and started processing Big Business Banking transactions on the SoFi Exchange Network, enabling commercial clients to move money in real time, around the clock. SoFi said it has also begun migrating SoFi Money onto a cloud-native banking core developed by its technology platform business.

Outlook raised as rate assumptions shift

For full-year 2026, SoFi raised its adjusted net revenue outlook to between $4.75 billion and $4.85 billion, representing expected growth of approximately 32% to 35%. That compares with its previous forecast of roughly 30% growth.

The company maintained its outlook for approximately $1.6 billion in adjusted EBITDA, representing a 33% to 34% margin; adjusted net income of about $825 million; and earnings per share of approximately $0.60.

Lapointe said the EPS outlook incorporates a 22% tax rate, roughly 700 basis points above the company’s initial guidance. He also said SoFi’s current outlook assumes one or two Federal Reserve rate increases in 2026, versus the two rate cuts anticipated when it initially issued its annual forecast.

SoFi ended the quarter with $45.5 billion in deposits, up $5.3 billion during the period, and a 5.98% net interest margin. Tangible book value rose 80% year over year to $9.5 billion, or $7.34 per share. Its total capital ratio stood at 18.8%, above the 10.5% regulatory minimum.

Noto said the company intends to continue investing in new growth initiatives rather than maximizing near-term profitability. “There are just too many large attractive growth areas for us to invest versus adding even more profitability,” Lapointe said.

About SoFi Technologies (NASDAQ:SOFI)

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company's core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Where Should You Invest $1,000 Right Now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

Source MarketBeat