SoFi Raises 2026 Guidance After Record Third-Quarter Revenue

The Tip Desk · November 8, 2026 · 4 min read

Adjusted net revenue reached a record $1.37 billion, up 44%, and the company now expects $5.04 billion for the full year.

SoFi Technologies (SOFI), a member-centric digital financial services company, reported record adjusted net revenue of $1.37 billion for the third quarter ended September 30, 2026, up 44% from a year earlier, and raised its full-year 2026 outlook after a 70% increase in adjusted EBITDA.

The growth rate accelerated from 40% in the second quarter and 41% in the first quarter. Adjusted EBITDA reached a record $469.8 million, a 34% margin, after 44% growth in the second quarter and 62% in the first. GAAP net income was $241.0 million, or $0.18 a share, versus $156.6 million and $0.12 a share in the second quarter. Adjusted net income was $243.0 million. The company said it achieved the Rule of 40 for the 20th consecutive quarter, with a score of 79, and delivered its 12th consecutive quarter with adjusted net income.

SoFi raised 2026 guidance to $5.04 billion of adjusted net revenue, a 40% year-over-year increase, $1.66 billion of adjusted EBITDA, $840.0 million of net income and $0.61 of EPS, above the prior $4.75 billion to $4.85 billion adjusted net revenue range. It introduced 2027 guidance of approximately $6.4 billion of adjusted net revenue, $2.24 billion of adjusted EBITDA, $1.28 billion of net income and $0.90 of EPS, which the company said represented about 27% adjusted net revenue growth and a net income margin of about 20%.

Members reached a record 17.1 million, up 35% year-over-year, after the company added a record 1.2 million in the quarter. Products reached a record 26.7 million, up 44%, after a record 2.2 million were added. Products per member rose to about 1.56 from 1.54 in the second quarter. Fifty-one percent of new products were opened by existing members.

Fee-based revenue reached $570.6 million, or 42% of total revenue, up 21% from the prior quarter. The company said the increase was driven by origination fees, SoFi Tech Solutions revenue, the Loan Platform Business, interchange and brokerage fee revenue. Net interest income was $929.5 million, up 59% year-over-year, which the company attributed to a 51% increase in average interest-earning assets and a 38 basis point decrease in cost of funds, partially offset by a 3 basis point decrease in average asset yields. Net interest margin was 6.14%, up 16 basis points from the prior quarter.

Lending was the largest profit engine. GAAP net revenue for the segment increased 66% year-over-year to $821.3 million, and adjusted net revenue increased 68% to $807.4 million. Adjusted revenue per product rose to $942 from $920 in the second quarter and $782 a year earlier, which the company said was driven by growth in personal loan originations. Lending contribution profit rose 74% year-over-year to $454.9 million, with an adjusted contribution margin of 56%. Origination fees increased 158% from the prior year.

Total loan originations reached a record $16.9 billion, up 71% year-over-year, including about $3.8 billion of Loan Platform Business originations. Personal loan originations were a record $12.6 billion. Student loan volume of $2.9 billion was up 96% year-over-year, which the company said was the highest quarter of student loan originations in its history. Home loan volume was $1.4 billion. Personal loan products reached about 2.6 million, student loan products about 760,000 and home loan products about 72,000.

Financial Services net revenue increased 25% year-over-year to $525.1 million, with products up 44% to 23.2 million. Annualized revenue per product rose to about $90 from $88 in the second quarter. Contribution profit reached $261.0 million, a $35.5 million improvement over the year-ago period, while contribution margin declined 4 percentage points year-over-year to 50%. Money and Relay each surpassed 8 million products. Credit Card grew 67% to about 656,000 products. Total deposits grew $5.8 billion to $51.3 billion.

Technology Platform net revenue of $87.4 million decreased 24% year-over-year, including a large client that fully transitioned off the platform before December 31, 2025. Excluding that client, the company said segment revenue increased 18% from the prior year. Contribution profit fell 56% year-over-year to $14.2 million and contribution margin declined to 16% from 28%. Technology Platform-enabled accounts decreased 11% year-over-year to 140 million, including the client exit, and increased 6 million from the prior quarter.

Credit performance for personal loans remained in line with expectations, the company said. Including recoveries and excluding the impact of late-stage delinquent loan sales, it estimated the all-in annualized net charge-off rate for personal loans at about 3.4%, a 30 basis point improvement from the prior quarter and 80 basis points from the prior year. The reported personal loan annualized charge-off rate decreased 34 basis points year-over-year to 2.26%. The student loan annualized charge-off rate was 63 basis points, up from 61 basis points in the prior quarter.