SAN FRANCISCO — At the same time it is reporting it has now surpassed 17 million customers, SoFi Technologies reported a 44% increase in third-quarter revenue and record growth in “members” and products, prompting the digital financial services company to raise its 2026 financial outlook and issue preliminary projections for 2027.
In a statement accompanying its third-quarter results and during an earnings call, SoFi said revenue for the quarter ended Sept. 30 reached $1.385 billion, compared with $961.6 million a year earlier. Net income increased to $241 million from $139.4 million, while diluted earnings per share rose to 18 cents from 11 cents.
The company said the results marked its 12th consecutive profitable quarter. Adjusted net revenue rose 44% to $1.371 billion, while adjusted earnings before interest, taxes, depreciation and amortization increased 70% to $469.8 million, representing a 34% margin. Adjusted net income totaled $243 million.
SoFi ended September with 17.1 million members, an increase of 35% from a year earlier, and 26.7 million products, up 44%. More than half of the products opened during the quarter were added by existing members, the company said. SoFi was founded in 2011.
Exceeds Largest Credit Union
By comparison, the world’s largest credit union, Navy FCU, has approximately 15.1 million members.
CEO Anthony Noto said SoFi has maintained growth despite an interest rate environment that differed from its original assumptions. The company had planned for two rate cuts in 2026 but instead experienced a rate increase and, at the time of the call, anticipated two additional increases before year-end.
“I now have as much confidence in our ability to drive durable growth in a high-rate environment as I do in a low-rate environment,” Noto said.
Lending and Fee Revenue Climb
Personal loan originations reached a record $12.6 billion during the quarter, SoFi reported. Student loan originations increased 96% from a year earlier to $2.9 billion, while home loan originations rose 44% to $1.4 billion.
Financial Services revenue increased 25% to $525.1 million, supported by deposit growth and fee-generating products. Fee-based revenue reached $570.6 million, accounting for 42% of total revenue.
SoFi said personal loan credit performance improved and remained in line with expectations, with an all-in annualized net charge-off rate of 3.4%. Noto said the company was not seeing signs of a slowdown in members’ borrowing, spending, saving or investing activity despite concerns about the broader economy.
Higher Guidance and 2027 Projections
SoFi raised its full-year 2026 forecast to $5.04 billion in adjusted net revenue and $1.66 billion in adjusted EBITDA. For the fourth quarter, the company projects adjusted net revenue of approximately $1.375 billion, a 36% increase from a year earlier.
Its preliminary outlook for 2027 calls for $6.4 billion in adjusted net revenue, representing 27% growth, and $2.24 billion in adjusted EBITDA.
Chief Financial Officer Chris Lapointe said SoFi expects to finance its 2027 growth plans using existing capital capacity and earnings generated by the business, without raising additional capital.
The company said its strategy remains focused on attracting new members, increasing the number of products used by existing members and generating more revenue from each customer relationship.
