Quarterly growth and a higher forecast
Third-quarter adjusted net revenue totaled $1.4 billion, a 44% increase and a company record, compared with the $1.25 billion consensus compiled by LSEG. Adjusted earnings were 18 cents a share, exceeding analysts' 16-cent estimate.
SoFi lifted its annual revenue outlook to $5.04 billion, above Wall Street's expectation of $4.87 billion. Its membership reached a record 17.1 million, up 35%, and the company maintained its forecast for annual member growth of at least 30%.
CEO Anthony Noto said in a statement: "We had exceptional Q3 results against the backdrop of any environment, but they are even more remarkable given how 2026 has unfolded."
Lending expands across loan categories
SoFi's October 27, 2026 earnings release showed record loan originations of $16.9 billion for the quarter, a 71% increase from a year earlier. Personal loans accounted for a record $12.6 billion, up 69%. Student loan volume nearly doubled, rising 96% to a company-record $2.9 billion, while home loans increased 44% to $1.4 billion.
Reuters reported that consumers' resilience has sustained credit demand despite higher borrowing and living costs, allowing lenders to expand lending and earn more interest income. SoFi and other fintech companies are competing with traditional banks through broader product offerings and digital-first platforms designed to attract and retain customers.
SoFi reported $929.5 million in net interest income, 59% more than a year earlier. It attributed the increase to 51% growth in average interest-earning assets and a 38-basis-point reduction in funding costs. Net interest margin reached 6.14%, a 16-basis-point improvement from the preceding quarter. Deposits increased by $5.8 billion during the quarter to $51.3 billion.
The Loan Platform Business contributed $153.4 million to consolidated adjusted net revenue. Of that amount, $151.2 million came from $3.8 billion in loans originated for third parties, along with referrals.
Higher profits, but technology revenue declines
Adjusted EBITDA reached a record $469.8 million, compared with $276.9 million a year earlier, a 70% increase that put the adjusted EBITDA margin at 34%. GAAP net income rose 73%, from $139.4 million to $241.0 million, with diluted GAAP earnings of 18 cents a share.
Fee-based revenue totaled $570.6 million, accounting for 42% of total revenue and increasing 21% from the previous quarter.
The Technology Platform segment reported $87.4 million in net revenue, down 24% year over year. SoFi attributed the decline to a large client that had fully left the platform before December 31, 2025. Without that client's impact, the company said segment revenue grew 18%.
Initial targets for 2027
SoFi, with a market capitalization of about $18.7 billion, also issued its initial 2027 forecast. It projects approximately $6.4 billion in adjusted net revenue, representing growth of about 27%.
The company's other 2027 targets are $2.24 billion in adjusted EBITDA, $1.28 billion in net income and adjusted earnings of 90 cents a share. The guidance implies an adjusted net income margin of roughly 20%.
