SoFi Technologies (SOFI) · Financial Technology
SoFi Technologies Q2 2026 earnings: summary, key numbers & outlook
Results filed 29 Jul 2026 · Quarter ended 30 Jun 2026
Press release ↗Investor relations ↗
Summaries and transcripts are machine-generated and can contain errors.
In brief
SoFi Reports Second Quarter 2026 with Record Net Revenue of $1.2 Billion, Record Member and Product Growth, Net Income of $157 Million
SoFi had a record second quarter. Adjusted net revenue rose 40% to $1.2 billion and adjusted EBITDA rose 44% to $357.8 million. GAAP net income was $156.6 million, or $0.12 per diluted share. Loan originations hit a record $14.8 billion, and members grew 35% to 15.8 million. SoFi added 2.2 million products, twice as many as new members, and 51% of new products came from existing members.
Management raised its 2026 adjusted net revenue outlook to $4.75 billion to $4.85 billion. It kept its adjusted EBITDA outlook of about $1.6 billion and its adjusted EPS outlook of about 60 cents. The main tension is mix and credit. Technology Platform revenue fell 23% from a year ago after a large client left. Lending growth also depends on funding and on loan losses staying below SoFi's 8% tolerance.
Key numbers
- Total net revenue · GAAP
- $1.2 billion
- Net income · GAAP
- $156.6 million
- Diluted EPS · GAAP
- $0.12
- Adjusted diluted EPS · non-GAAP
- $0.12
- Adjusted EBITDA · non-GAAP
- $357.8 million
- Adjusted net revenue · non-GAAP
- $1.2 billion
up 43% from a year ago
up 61% from a year ago
up 50% from a year ago
up 50% from a year ago
up 44% from a year ago
up 40% from a year ago
| Segment or metric | Value | Change |
|---|---|---|
| Lending net revenue | $724.8 million | up 63% from a year ago |
| Financial Services net revenue | $466.3 million | up 29% from a year ago |
| Technology Platform net revenue | $84.5 million | down 23% from a year ago |
| Total loan originations | $14.8 billion | up 69% from a year ago |
| Net interest income | $788.2 million | up 52% from a year ago |
| Members | 15.8 million | up 35% from a year ago |
| Products | 24.4 million | up 42% from a year ago |
Where each number comes from
- Total net revenue: “For the second quarter of 2026, record GAAP net revenue of $1.2 billion increased 43% relative to the prior-year period's $854.9 million.”
- Net income: “For the second quarter of 2026, GAAP net income reached $156.6 million and diluted earnings per share reached $0.12.”
- Diluted EPS: “For the second quarter of 2026, GAAP net income reached $156.6 million and diluted earnings per share reached $0.12.”
- Adjusted diluted EPS: “Adjusted earnings per share – diluted | $0.12 | $0.08 | 50% | $0.24 | $0.15 | 60%”
- Adjusted EBITDA: “Second quarter record adjusted EBITDA of $357.8 million increased 44% from the prior year period's $249.1 million.”
- Adjusted net revenue: “Record adjusted net revenue of $1.2 billion grew 40% from the corresponding prior-year period of $858.2 million.”
- Lending net revenue: “For the second quarter of 2026, Lending segment GAAP net revenue of $724.8 million increased 63% from the prior year period, while adjusted net revenue”
- Financial Services net revenue: “For the second quarter of 2026, Financial Services segment net revenue of $466.3 million increased 29% from the prior year period.”
- Technology Platform net revenue: “Technology Platform segment net revenue of $84.5 million for the second quarter of 2026 increased 13% from the prior quarter.”
- Total loan originations: “For the second quarter of 2026, record origination volume of $14.8 billion increased 69% year-over-year.”
- Net interest income: “Net interest income of $788.2 million for the second quarter was up 52% year-over-year.”
- Members: “SoFi added a record 1.1 million members in the second quarter of 2026, bringing total members to 15.8 million, up 35% from 11.7 million at the end of the same prior year period.”
- Products: “SoFi grew members 35% year-over-year to 15.8 million and products 42% year-over-year to 24.4 million.”
Copied from the press release ↗ and other documents in the SEC filing ↗. A figure is published only if its sentence is in the filing.
| From the filing | Q2 2026 | vs year ago | vs last quarter |
|---|---|---|---|
| Revenue | $153.6M | +1.1% | +18.6% |
| Net income | $156.6M | +61.0% | −6.1% |
| Diluted EPS | $0.12 | +50.0% | +0.0% |
| Free cash flow | -$4.0B | −160.5% | −67.3% |
Calculated by code from XBRL, not by the model.
Outlook
| Metric | Period | Outlook |
|---|---|---|
| Adjusted net revenue | full year 2026 | $4.75 billion to $4.85 billion |
| Adjusted EBITDA | full year 2026 | $1.6 billion |
| Adjusted EBITDA margin | full year 2026 | 33% to 34% |
| Adjusted net income | full year 2026 | $825 million |
| Adjusted EPS | full year 2026 | 60 cents per share |
| Effective tax rate | full year 2026 | 22% |
| Member growth | 2026 | at least 30% |
Key takeaways
Cross-buy is accelerating sharply
51% of new products were opened by existing SoFi members, up from 43% last quarter and 35% in Q2 2025. SoFi added 2.2 million products, twice as many as the 1.1 million members it added.
Record originations drove lending revenue higher
Total loan originations reached $14.8 billion, up 69% year-over-year. Lending segment net revenue of $724.8 million increased 63%.
2026 revenue outlook raised, profit outlook held
Adjusted net revenue guidance is now $4.75 billion to $4.85 billion. Adjusted EBITDA of approximately $1.6 billion and adjusted EPS of approximately 60 cents are unchanged.
Technology Platform is shrinking year over year
Technology Platform net revenue of $84.5 million decreased 23% from the prior year period, including the impact of a large client that transitioned off the platform. Contribution margin fell to 14% from 30%.
Credit stayed strong as funding costs fell
The personal loan annualized charge-off rate was 2.62%, down from 3.03% in the prior quarter. Net interest margin was 5.98%, and deposits were over 90% of average total liabilities.
Charts
Fourth quarter worked out from the annual figure.
Data
| Q4 2024 | $135.5M * |
| Q1 2025 | $140.4M |
| Q2 2025 | $151.9M |
| Q3 2025 | $156.8M |
| Q4 2025 | $170.3M * |
| Q1 2026 | $129.5M |
| Q2 2026 | $153.6M |
| Q3 2026 | $163.4M |
Data
| Q1 2025 | $0.06 |
| Q2 2025 | $0.08 |
| Q3 2025 | $0.11 |
| Q1 2026 | $0.12 |
| Q2 2026 | $0.12 |
| Q3 2026 | $0.18 |
Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.
Data
| Q4 2024 | -$242.4M |
| Q1 2025 | -$31.1M |
| Q2 2025 | -$1.5B |
| Q3 2025 | -$1.4B |
| Q4 2025 | -$1.1B |
| Q1 2026 | -$2.4B |
| Q2 2026 | -$4.0B |
Operating cash flow minus capital expenditure, from cash flow statements.
Questions
What were SoFi's key results in Q2 2026?
GAAP net revenue was a record $1.2 billion, up 43%. Net income was $156.6 million, or $0.12 per diluted share. Adjusted EBITDA was a record $357.8 million, up 44%.
How did SoFi change its 2026 guidance?
It raised full-year adjusted net revenue guidance to $4.75 billion to $4.85 billion. It kept adjusted EBITDA at about $1.6 billion, adjusted net income at about $825 million and adjusted EPS at about 60 cents.
How fast are SoFi's members and products growing?
Members grew 35% to 15.8 million and products grew 42% to 24.4 million. SoFi added 1.1 million members and a record 2.2 million products in the quarter.
What is driving SoFi's lending growth?
Total loan originations hit a record $14.8 billion, up 69%. Personal loans were $10.7 billion, including $3.1 billion through the Loan Platform Business. Student loans were $2.7 billion and home loans were $1.4 billion.
What are the main risks or weak spots?
Technology Platform revenue fell 23% from a year ago after a large client left, and its contribution margin dropped to 14%. Financial Services contribution margin also fell 6 percentage points to 46%. Management says personal loan losses should stay below its 8% tolerance.
Documents
SEC filing