Sofi Non-GAAP EPS Of $0.12 In-Line, Revenue Of $1.1B Beats By $50M

Sofi (SOFI): Q1 Non-GAAP EPS of $0.12 in-line. Revenue of $1.1B (+42.7% Y/Y) beats by $50M.

Sofi shares fell 6% in premarket.

Total Loan Originations at a record $12.2 billionMember growth up 35% to a record 14.7 million membersProduct growth up 39% to a record 22.2 million products

For the first quarter of 2026, total fee-based revenue reached $386.8 million, a year-over-year increase of 23%. This was driven by strong contributions from our Loan Platform Business, as well as referral fee revenue, interchange fee revenue and brokerage fee revenue. Together, the Financial Services and Technology Platform segments generated $503.6 million of net revenue, an increase of 24% from the prior year period.

SoFi added a record 1,055,000 members in the first quarter of 2026, bringing total members to 14.7 million, up 35% from 10.9 million at the end of the same prior year period.

In the second quarter of 2026, management expects to deliver adjusted net revenue growth of approximately 30%, an adjusted EBITDA margin of approximately 30%, and an adjusted net income margin of approximately 12% -13%.

For the full year, management maintains its strong outlook. For 2026, management expects to increase total members by at least 30% year-over-year. Management also expects to deliver adjusted net revenue of approximately $4.655 billion which implies approximately 30% annual revenue growth. Management expects adjusted EBITDA of approximately $1.6 billion, which equates to an annual EBITDA margin of approximately 34%. Management expects adjusted net income of approximately $825 million, which equates to a margin of approximately 18%. Lastly, management expects adjusted EPS of approximately 60 cents per share.