SoFi Technologies reported second-quarter adjusted net revenue of $1.2 billion on Wednesday, up 40% year-over-year, as record member growth and loan originations drove the company to lift its full-year revenue outlook.
The fintech's membership surged 35% to 15.8 million and total loan originations hit a record $14.8 billion in the second quarter
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SoFi Technologies reported second-quarter adjusted net revenue of $1.2 billion on Wednesday, up 40% year-over-year, as record member growth and loan originations drove the company to lift its full-year revenue outlook.
The San Francisco-based fintech now expects full-year adjusted net revenue of $4.75 billion to $4.85 billion, up from its prior guidance. That beat analyst expectations of $4.7 billion, according to Reuters. SoFi kept its adjusted EBITDA guidance at approximately $1.6 billion and its adjusted earnings-per-share guidance at approximately 60 cents for the full year, the company said.
On an adjusted per-share basis, the company earned 12 cents for the quarter, topping the 11-cent analyst consensus and marking a 50% gain from the year-ago period, according to Reuters.
SoFi added 1.1 million members during the quarter, bringing its total to 15.8 million — a 35% increase year-over-year. Total loan originations climbed to $14.8 billion, a 69% jump from the same period last year, including record personal loan originations of $10.7 billion, record student loan originations of $2.7 billion, and home loan volume of $1.4 billion.
Net interest income rose to $788.2 million, a 52% increase compared with the same quarter a year ago. GAAP net income for the quarter reached $156.6 million, compared with $97.3 million in the prior-year period.
The company's lending segment posted adjusted net revenue of $711.7 million, up 59% year-over-year, while its financial services segment generated net revenue of $466.3 million, up 29%. The technology platform segment posted net revenue of $84.5 million, a 23% decline from the prior-year period, reflecting the loss of a large client that left the platform before the end of 2025.
SoFi also reported that 51% of new products opened during the quarter were by existing members, up from 43% in the prior quarter and 35% in the second quarter of 2025, the company said.
"We're seeing our members remain resilient in the current climate. Spending remains strong, demand remains strong, and credit performance continues to meet or exceed our expectations," CEO Anthony Noto said.
SoFi said it expects total membership to grow by at least 30% for the full year 2026.
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