SoFi (6B0) Q3 2026 Earnings Report
DE:6B0 Q3 2026 EPS Results
- Actual EPS
- EUR 0.16
- Consensus EPS
- EUR 0.15
- Beat/Miss
- Beat by +EUR 0.02
- One Year Ago EPS
- EUR 0.10
DE:6B0 Q3 2026 Revenue Results
- Actual Revenue
- EUR 1.61B
- Expected Revenue
- EUR 1.12B
- Beat/Miss
- Beat by +EUR 487.08M
- YoY Revenue Growth
- +41.86%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/27/2026
- Time
- Before Open
- Conference Call
- Tuesday, October 27, 2026
SoFi's next earnings date is estimated for February 1, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was strongly positive. Highlights substantially outweighed the limited challenges: SoFi reported record revenue, EBITDA, net income, member and product growth, improved credit performance, strong capital and deposit growth, raised 2026 guidance, and issued an optimistic 2027 outlook despite an unexpectedly higher-rate environment. The principal negatives were the Technology Platform revenue decline tied to a large-client transition, Q3 SoFi Plus growth below expectations, fair value mark losses that were largely hedged, a planned shift toward lower-revenue-per-product businesses, and moderation in the mix of personal loan origination growth.
SoFi raised its full year 2026 guidance to adjusted net revenue of $5.04 billion, up 40% year-over-year, versus its prior guidance range of $4.75 billion-$4.85 billion; adjusted EBITDA of $1.66 billion, implying a 33% margin versus $1.6 billion previously; adjusted net income of $840 million and a 17% margin versus $825 million previously; and adjusted EPS of $0.61 versus $0.60 previously. Q4 guidance is approximately $1.375 billion of revenue, 36% year-over-year growth, $492 million of adjusted EBITDA, $276 million of adjusted net income, a 20% net income margin, and adjusted EPS of $0.19, including approximately $785 million from lending, $550 million from financial services, $90 million from technology platform, and corporate revenue in line with the third quarter. Preliminary 2027 guidance is $6.4 billion of adjusted net revenue, 27% year-over-year growth, approximately 35% EBITDA margin, $2.24 billion of adjusted EBITDA, $1.28 billion of adjusted net income, approximately 20% net income margin, and EPS of $0.90, assuming two rate hikes in the year and a 24% effective tax rate; segment growth is expected to be 25% year-over-year in lending, 25% year-over-year in technology platform, and 35% year-over-year in Financial Services, with a margin profile generally in line with where the company is from a segment perspective right now. Management also expects a healthy net interest margin above 5% for the foreseeable future, technology platform to return to 25% revenue growth in a steady state, SoFi Plus to exceed a million members as the company continues to add to the value proposition, and 100 million products by the end of 2030, with five businesses generating $1 billion in revenue or more, five more generating at least $500 million in revenue, and another five generating at least $100 million in revenue.
- Record Third-Quarter Revenue and ProfitabilityQ3 adjusted net revenue reached $1.4 billion, up 44% versus Q3 2025. Adjusted EBITDA reached a record $470 million, up 70% year-over-year, with a record 34% margin. Adjusted net income reached a record $243 million, up 74%, with an 18% adjusted margin. Adjusted EPS was $0.18, up 64% year-over-year and 50% sequentially.
- Raised 2026 GuidanceSoFi raised its 2026 guidance to $5.04 billion of adjusted net revenue, up 40% year-over-year, compared with prior guidance of $4.75 billion-$4.85 billion. The company now expects $1.66 billion of adjusted EBITDA at a 33% margin, $840 million of adjusted net income at a 17% margin, and adjusted EPS of $0.61, compared with prior guidance of $1.6 billion, $825 million, and $0.60, respectively.
- Strong Preliminary 2027 OutlookSoFi provided preliminary 2027 guidance of $6.4 billion in adjusted net revenue, representing 27% year-over-year growth. It expects approximately 35% EBITDA margin and $2.24 billion of adjusted EBITDA, $1.28 billion of adjusted net income at approximately a 20% margin, and adjusted EPS of $0.90. Segment growth expectations are 25% for lending, 35% for Financial Services, and 25% for the Technology Platform.
- Record Member and Product GrowthMembers grew 35% year-over-year to 17.1 million, including a record addition of 1.2 million members in Q3. Total products grew approximately 44% to 26.7 million, including a record addition of 2.2 million products. Products per member increased to approximately 1.56 from 1.47 a year ago and 1.54 last quarter, while 37% of members now use two or more products versus 33% a year ago.
- Continued Rule of 40 PerformanceSoFi achieved a Rule of 40 score of 79 in Q3, combining 44% revenue growth with a 34% EBITDA margin. This marked the 20th consecutive quarter in which the company exceeded the Rule of 40.
- Broad-Based Lending GrowthThe lending segment generated approximately $807 million of adjusted net revenue. Lending net interest income increased 57% year-over-year to $670 million, while loan origination fees reached $271 million, up 2.6x year-over-year. Total loan originations reached a record $16.9 billion, including record personal loan originations of $12.6 billion, student loan originations of $2.9 billion, up 96%, and home loan originations of $1.4 billion, up 44%.
- Improved Lending Monetization and Risk-Adjusted ReturnsAnnualized lending revenue per product increased to approximately $942 in Q3 from $782 in Q3 2025 and $920 in Q2. The core personal loan product generated a roughly 7.6% risk-adjusted margin, consisting of a 12.8% weighted average coupon, 1.4% origination fee yield, 3.1% funding cost, and 3.4% annualized losses. The personal loan risk-adjusted margin was described as north of 7.5%, up more than 100 basis points year-over-year.
- Strong Financial Services PerformanceFinancial Services revenue reached approximately $525 million, up 25% year-over-year, while Financial Services products grew 44% to 23.2 million. Financial Services net interest income increased 38% to $281 million, and non-interest income increased 13% to $244 million.
- Growth Across Financial Services ProductsSoFi Money and Relay each exceeded eight million products, growing 34% and 45% year-over-year, respectively. Invest products grew 37% to more than four million. Credit card products increased 67% to approximately 656,000, with strong credit performance. SoFi ended the quarter with more than 500,000 SoFi Crypto products and approximately 275,000 SoFi Plus subscribers.
- Record Interchange and Brokerage RevenueFinancial Services interchange fee revenue reached a record $52 million, up 77% year-over-year, driven by $31 billion in total annualized spending across SoFi Money and credit card. Brokerage fee revenue reached $18 million, up 47% year-over-year.
- Increasing Revenue per Financial Services ProductAnnualized Financial Services revenue per product increased to approximately $90 in Q3 from $88 in Q2, driven by interchange, credit card, and SoFi Plus subscription revenue. Credit card and SoFi Crypto generated the greatest increases in monetization during the quarter.
- Loan Platform Business ExpansionLoan Platform Business originations reached approximately $3.8 billion, up $704 million from Q2, and generated $153 million of revenue versus $143 million in Q2. SoFi signed two new partners during the quarter, transferred its first SMB and home equity loans through the platform, and reported robust demand across unsecured personal loans, closed-end seconds, SMB loans, and other asset types.
- Technology Platform Client and Growth ProgressTechnology Platform revenue excluding the previously disclosed large-client transition grew 18% year-over-year. The company added nine clients year-to-date and expects the segment to return to 25% revenue growth in a steady state and in 2027. Management also highlighted issuer processing, banking cores and ledgers, payments, and risk and fraud as platform growth areas.
- Credit Performance ImprovedPersonal loan all-in annualized net charge-offs were 3.4%, down approximately 80 basis points year-over-year and 30 basis points sequentially. The on-balance-sheet personal loan 90-day delinquency rate was 42 basis points. Student loan charge-offs were 63 basis points, down six basis points year-over-year, and the 90-day delinquency rate was 13 basis points.
- Resilient Net Interest Margin and Cash RevenueConsolidated net interest margin was 6.14%, up 16 basis points sequentially, including a 22-basis-point increase in average asset yields partly offset by a one-basis-point increase in cost of funds. SoFi generated $1.4 billion of cash revenue, including $927 million of net interest income, marking the fourth consecutive quarter above $1 billion of cash revenue. Management continues to expect a healthy net interest margin above 5% for the foreseeable future.
- Capital Strength and Organic Funding CapacitySoFi's total capital ratio was 17%, well above the 10.5% regulatory minimum and internal stress buffer. Management stated that its current capital position and organic capital generation are sufficient to fund planned 2027 growth without raising additional capital. The company cited approximately $29 billion of total risk-weighted asset capacity from existing excess capacity and future organic capital creation.
- Deposit and Balance-Sheet GrowthTotal assets grew by $6.8 billion in Q3, including $5.8 billion of loan growth and approximately $1 billion of growth in cash equivalents and investment securities. Total deposits increased by $5.8 billion to $51.3 billion, supported by member deposit growth. Member deposits remain the long-term foundation for funding, with management expecting 80%-90% deposit funding over time.
- Tangible Book Value and Returns IncreasedTangible book value increased $2.5 billion year-over-year to $9.7 billion. Tangible book value per share rose to $7.48 from $5.97 a year ago, a 25% increase. Return on tangible common equity was approximately 10%, while revenue-to-equity increased to approximately 57% from 55% last quarter and 50% the quarter before.
- Successful Navigation of Higher and Volatile RatesDespite originally planning for two rate cuts, SoFi operated through one rate hike and positioned for two more rate hikes in 2026 while delivering its third consecutive quarter of more than 40% revenue growth, raising full-year guidance, and issuing 2027 guidance early. More than $800 million of fair value losses were largely offset by approximately $734 million of hedge gains, which management said demonstrated that the hedge program worked as intended.
- Fee-Based Revenue DiversificationQ3 fee-based revenue reached $571 million, representing 42% of total revenue versus 39% in Q2. Management continues to target 50% of revenue from fee-oriented businesses and stated that greater technology platform revenue and fee-based growth should support expansion in revenue-to-equity and returns on tangible common equity.
- Expansion of the Business Portfolio and Long-Term AmbitionsSoFi stated that it now has eight distinct businesses generating more than $100 million of annualized revenue, including one above $2 billion, one above $1 billion, three above $300 million, and three above $100 million. The company described SoFi Crypto, SoFi Plus, small-medium business lending, Big Business Banking, SoFi Pay, and SoFiUSD as newer startup businesses. Management outlined a goal of reaching 100 million products by the end of 2030, a 4x increase from current levels, with five businesses generating at least $1 billion of revenue, five generating at least $500 million, and another five generating at least $100 million.
- Continued Investment in New Businesses and TechnologyManagement said it accelerated investment in startup businesses outside the existing Great Eight during 2026, including SMB lending, Big Business Banking, SoFi Pay, SoFiUSD, Crypto, and SoFi Plus. It also described ongoing investment in a modern cloud-based core, payments, AI, blockchain, issuer processing, and fraud and risk capabilities.
- SoFi Plus Reacceleration PlanSoFi Plus growth in Q3 was below expectations, but management said the company addressed issues caused by nefarious actors, growth was reaccelerating in Q4, and the product would continue to add value. SoFi is targeting one million SoFi Plus members by the end of next year, while approximately 83%-85% of current SoFi Plus members were existing SoFi members and 25% added another product after subscribing.
DE:6B0 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 01, 2027 | 2026 (Q4) | 0.17- | 0.12 | ― | ― |
| Oct 27, 2026 | 2026 (Q3) | 0.150.16 | 0.1 | 63.64% (+0.06) | |
| Jul 29, 2026 | 2026 (Q2) | 0.100.11 | 0.07 | 50.00% (+0.04) | |
| Apr 29, 2026 | 2026 (Q1) | 0.110.11 | 0.05 | 100.00% (+0.05) | |
| Jan 30, 2026 | 2025 (Q4) | 0.100.12 | 0.26 | -55.17% (-0.14) | |
| Oct 28, 2025 | 2025 (Q3) | 0.070.10 | 0.04 | 120.00% (+0.05) | |
| Jul 29, 2025 | 2025 (Q2) | 0.050.07 | 0.01 | 700.00% (+0.06) | |
| Apr 29, 2025 | 2025 (Q1) | 0.030.05 | 0.02 | 200.00% (+0.04) | |
| Jan 27, 2025 | 2024 (Q4) | 0.030.26 | 0.02 | 1350.00% (+0.24) | |
| Oct 29, 2024 | 2024 (Q3) | 0.040.04 | -0.26 | 117.24% (+0.30) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
