# SoFi Technologies (SOFI) Q2 2026 earnings

Results filed 2026-07-29 for the quarter ended 2026-06-30. Source page: https://earnings.opennash.com/companies/sofi/2026-q2/
Press release and exhibits: https://www.sec.gov/Archives/edgar/data/1818874/000181887426000050/0001818874-26-000050-index.htm
> 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

| Metric | Value | Change | Basis |
| --- | --- | --- | --- |
| Total net revenue | $1.2 billion | up 43% from a year ago | GAAP |
| Net income | $156.6 million | up 61% from a year ago | GAAP |
| Diluted EPS | $0.12 | up 50% from a year ago | GAAP |
| Adjusted diluted EPS | $0.12 | up 50% from a year ago | non-GAAP |
| Adjusted EBITDA | $357.8 million | up 44% from a year ago | non-GAAP |
| Adjusted net revenue | $1.2 billion | up 40% from a year ago | non-GAAP |

## Segments and operating metrics

| Name | 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 |

## 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

1. **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.
2. **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%.
3. **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.
4. **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%.
5. **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.

## 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.