SoFi Reports Record Q3 2026 Results, Boosts Full-Year Guidance & Issues Strong 2027 Outlook

Executive Summary

On October 27, 2026, SoFi Technologies, Inc. (NASDAQ: SOFI) filed a Form 8-K under Item 2.02 detailing record financial results for the third quarter ended September 30, 2026. Demonstrating broad-based acceleration across lending, financial services, and technology offerings, the company surpassed internal and external expectations, raised its full-year 2026 guidance, and introduced strong multi-year guidance for 2027 alongside long-term 2030 targets.

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Key Financial Metrics (Q3 2026 vs. Q3 2025)

• GAAP Total Net Revenue: $1.385 billion, up 44% year-over-year from $961.6 million.
• Adjusted Net Revenue: $1.371 billion, up 44% year-over-year from $949.6 million.
• GAAP Net Income: $241.0 million, up 73% year-over-year from $139.4 million.
• Diluted EPS: $0.18, up 64% from $0.11 in Q3 2025.
• Adjusted EBITDA: $469.8 million, up 70% year-over-year from $276.9 million, generating a 34% adjusted EBITDA margin.
• Net Interest Income: $929.5 million, up 59% year-over-year, driven by a 51% increase in average interest-earning assets.
• Net Interest Margin (NIM): 6.14%, expanding 16 basis points sequentially.
• Fee-Based Revenue: $570.6 million (42% of total revenue), climbing 21% quarter-over-quarter.

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Operational & Segment Highlights

• Member & Product Expansion:
  • Total members reached 17.1 million (+35% YoY), adding a record 1.2 million members in the quarter.
  • Total products reached 26.7 million (+44% YoY), adding 2.2 million products in Q3.
  • Products per member increased to 1.56 (up from 1.47 in Q3 2025), with 51% of new products opened by existing members, underscoring the Financial Services Productivity Loop (FSPL).
• Lending Segment:
  • Total loan originations reached a record $16.9 billion, including $3.8 billion via the Loan Platform Business.
  • Lending adjusted net revenue was approximately $807.4 million, with lending products expanding 39% YoY to 3.4 million.
  • Annualized Lending adjusted revenue per product rose to $942 (vs. $782 in Q3 2025).
• Financial Services Segment:
  • Net revenue rose 25% YoY to $525.1 million, driven by strong growth in deposits and non-interest income ($243.8 million, +13% YoY).
  • Products grew 44% YoY to 23.2 million (Money and Relay each crossed 8 million products).
• Technology Platform Segment:
  • Total accounts reached 140 million, adding 6 million accounts sequentially.

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Balance Sheet & Capital Strength

• Equity: Reached $11.3 billion ($8.71 book value per share).
• Tangible Book Value: Grew to $9.7 billion, or $7.48 per share (+25% YoY from $5.97 per share).
• Funding Optimization: Deposits accounted for 90% of average total liabilities, with deposit funding costs yielding ~145 basis points of savings versus warehouse facilities, generating annualized interest savings of approximately $745.0 million.

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Guidance Updates

Raised Full-Year 2026 Guidance

• Adjusted Net Revenue: $5.04 billion (+40% YoY)
• Adjusted EBITDA: $1.66 billion
• GAAP Net Income: $840.0 million
• Diluted EPS: $0.61

Initial Full-Year 2027 Outlook

• Adjusted Net Revenue: Approximately $6.4 billion (~27% YoY growth)
• Adjusted EBITDA: $2.24 billion
• GAAP Net Income: $1.28 billion (~20% net margin)
• Diluted EPS: $0.90

2030 Long-Term Vision

• Reaching 100 million products.
• Scaling 5 businesses to >$1 billion revenue, 5 businesses to >$500 million, and 5 businesses to >$100 million.