SoFi shares rise as record revenue, member growth drive strong Q3 results

Investing.com - SoFi Technologies (NASDAQ:SOFI) shares gained 2.6% on Tuesday after the digital financial services company reported third-quarter results that exceeded analyst expectations, driven by record revenue and strong member growth.

The fintech company posted adjusted earnings of $0.11 per share, surpassing the analyst consensus of $0.08. Revenue reached a record $961.6 million, up 38% YoY and well above the $887.24 million consensus estimate.

SoFi added a record 905,000 new members in the quarter, bringing its total to 12.6 million, a 35% increase from the previous year. The company also added 1.4 million new products, reaching 18.6 million total products, up 36% YoY.

"SoFi delivered an exceptional third quarter, fueled by the strength of our innovation and the power of our one-stop shop strategy," said CEO Anthony Noto. "Our ability to consistently deliver durable growth, strong returns, and exceptional credit performance proves that our strategy is battle-tested and built to outperform."

Fee-based revenue surged 50% to a record $408.7 million, driven by strong performance from the company’s Loan Platform Business, which originated $3.4 billion in loans on behalf of third parties and generated $167.9 million in revenue.

Total loan originations reached a record $9.9 billion in the quarter, up 57% YoY, with personal loan originations hitting an all-time high of $7.5 billion. Student loan originations increased 58% to $1.5 billion, while home lending set a new record with nearly $945 million in originations.

SoFi raised its full-year 2025 guidance, now expecting adjusted net revenue of approximately $3.54 billion, up from its previous forecast of $3.375 billion. The company also increased its adjusted EPS guidance to $0.37 from $0.31 previously.

Net interest income rose 36% YoY to $585.1 million, driven by a 29% increase in average interest-earning assets and a 76 basis point decrease in cost of funds.

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