SoFi surges past estimates with record $1B revenue, 9th profitable quarter
Digital fintech adds 1 million members and projects 30% revenue growth for 2026
SoFi Technologies delivered a blowout fourth quarter, reporting record revenue of $1.03 billion and its ninth consecutive quarter of GAAP profitability as the digital financial services platform continues to gain scale following its transformation from student loan refinancer to comprehensive financial services provider.
The San Francisco-based company reported adjusted earnings per share of $0.13, significantly surpassing analyst estimates of $0.11, while revenue exceeded the $982.4 million consensus by 4.6% to reach the milestone $1 billion mark for the first time in company history. SoFi achieved net income of $174 million in the period, extending its profitable streak that began in early 2024.
"2025 was a tremendous year and the fourth quarter was exceptional," said Chief Executive Officer Anthony Noto, highlighting the success of the company's integrated platform strategy that combines lending, investing, and financial services products for its growing membership base.
Member growth accelerated to 35% year-over-year, reaching 13.7 million users, with the platform adding 1 million new members in the fourth quarter alone. Product adoption grew even faster, climbing 37% to 20.2 million products as members increasingly embrace SoFi's expanding suite of offerings. Fee-based revenue surged 53% to $443 million, reflecting the success of the company's shift toward higher-margin financial services products.
Adjusted EBITDA jumped 60% to $318 million, while adjusted net revenue climbed 37% to $1.0 billion, demonstrating improving operating leverage as the business scales. The profitability milestone marks a dramatic turnaround for a company that faced significant skepticism following its 2021 initial public offering via special purpose acquisition company.
Looking ahead, SoFi provided FY2026 guidance projecting 30% revenue growth to $4.655 billion and earnings per share of $0.60, with management forecasting a 38-42% compound annual growth rate through 2028. The guidance represents an acceleration from the company's prior growth trajectory and signals confidence in its ability to sustain momentum despite a more challenging macroeconomic environment for lending.
Analyst reactions were mixed following the report. Barclays raised its price target to $28 from $23, maintaining an equal weight rating, while Goldman Sachs reduced its target to $24 from $27 while keeping a neutral stance. The divergent views reflect ongoing debate about whether SoFi's premium valuation—currently trading at roughly 44 times trailing earnings—is justified by its growth prospects and competitive position in the crowded fintech landscape.
Shares of SoFi rose 0.6% in pre-market trading following the announcement, adding to the stock's 70% gain in 2025. The company's market capitalization stands at approximately $31 billion, reflecting investor optimism about its ability to capture share from traditional financial institutions and build a sustainable, profitable business model.
SoFi's performance comes amid a broader fintech sector recovery, with investors rewarding companies that have demonstrated clear paths to profitability after years of aggressive growth at any cost. The company's bank charter acquisition in 2022 has given it cost advantages and regulatory flexibility that many fintech competitors lack, potentially supporting its expanding margins.
However, some analysts have cautioned about potential headwinds in 2026, including rising Treasury yields that could pressure loan demand and significant investment requirements to scale newly launched products including cryptocurrency trading, options, and premium membership tiers. J.P. Morgan previously warned of potential downside risk to the company's EBITDA guidance given these investment needs.
The earnings report will likely intensify speculation about potential S&P 500 index inclusion, which could trigger significant passive inflows given the stock's liquidity and market capitalization. SoFi has been the subject of persistent market chatter regarding index eligibility as it matures into a more established financial services company.