SoFi Technologies Inc. reported impressive Q2 2026 earnings, showing a 40% year-over-year revenue growth to $1.2 billion and record loan originations of $14.8 billion. Key highlights include: - Adjusted EBITDA rose 44% to $358 million, with a margin of 30%. - Added 1.1 million new members, totaling 15.8 million, and strong performance in personal loans, totaling $10.7 billion. - Financial Services Net Revenue increased by 29% to $466 million. - Despite this strong performance, the company didn't raise its EBITDA guidance and faces challenges in a competitive lending environment and higher tax rates, impacting earnings per share. The guidance for full year 2026 has an adjusted net revenue forecast of $4.75-4.85 billion and an adjusted EBITDA of around $1.6 billion.

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SoFi Technologies Inc (SOFI) Q2 2026 Earnings Call Highlights: Record Revenue and Loan ...

GuruFocus News

Wed, July 29, 2026 at 3:01 PM EDT4 min read

SOFI \ -8.90%

This article first appeared on GuruFocus.

Adjusted Net Revenue: $1.2 billion, up 40% year-over-year.
Adjusted EBITDA: $358 million, up 44% year-over-year, with a margin of 30%.
Adjusted Net Income: $160 million, with a margin of 13%.
Adjusted Earnings Per Share (EPS): $0.12, including a negative impact of $0.05 due to a higher-than-expected tax rate.
Total Loan Originations: $14.8 billion, including record originations in personal, student, and home loans.
Personal Loan Originations: $10.7 billion, with $7.6 billion originated for the balance sheet.
Net Interest Income: $790 million.
Cash Revenue: $1.2 billion, third consecutive quarter exceeding $1 billion.
Net Interest Margin: 5.98% for the quarter.
Tangible Book Value: $9.5 billion, up 80% year-over-year.
Total Deposits: $45.5 billion, with strong growth in member deposits.
Financial Services Net Revenue: $466 million, up 29% year-over-year.
Loan Platform Business Revenue: $143 million.
Tech Platform Segment Revenue: $85 million, up 13% from the prior quarter.
Guidance for Full Year 2026: Adjusted net revenue of $4.75 billion to $4.85 billion, adjusted EBITDA of approximately $1.6 billion, and EPS of approximately $0.60.
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Release Date: July 29, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

SoFi Technologies Inc ( NASDAQ:SOFI) achieved a 40% year-over-year revenue growth, reaching $1.2 billion in Q2 2026.
The company added a record 1.1 million new members, increasing total membership by 35% year-over-year to 15.8 million.
SoFi Plus and SoFi Coach have been successful in driving cross-buying, with 85% of new SoFi Plus members being existing members.
The company reported its best quarter ever for loan originations at $14.8 billion, including record originations across personal, student, and home loans.
Adjusted EBITDA increased by 44% year-over-year to $358 million, with a margin of 30%.

Negative Points

Despite strong revenue growth, the company did not raise its EBITDA guidance, choosing instead to reinvest in growth opportunities.
The competitive environment in lending remains challenging, with high competition in pricing and customer acquisition.
The company faces a higher-than-expected tax rate, negatively impacting adjusted earnings per share by approximately $0.05.
There is uncertainty regarding future interest rate hikes, which could impact financial performance.
The company is balancing loan originations between its balance sheet and loan platform business, which may limit immediate growth in certain areas.

Story Continues

Q & A Highlights

Q: Can you provide context around the capacity and fee economics of new loan categories like SMB and home equity? A: Christopher Lapointe, CFO: The loan platform business has evolved from a referral channel to originating loans on behalf of others. We've expanded into SMB and home equity lines of credit, with partnerships like a $3 billion agreement with Base Point Capital. We're starting to originate at scale, with economics similar to current executions. Anthony Noto, CEO, added that SoFi can offer competitive rates, taking significant market share and attracting high-quality borrowers.

Q: With cross-buy reaching an inflection point, is it time to focus more on monetization versus member growth? A: Anthony Noto, CEO: The first half of the year has proven our Everything App strategy is working, with improvements in products per member. Our growth will be driven by members, products per member, and revenue per product. SoFi Plus and Crypto are driving organic product per member growth, and we expect this trend to continue.

Q: Can you update us on the competitive environment and customer acquisition costs? A: Anthony Noto, CEO: Outside of lending, competition is benign, and customer acquisition costs are stable. Our products are designed to be best of breed, driving strong demand at stable pricing. In lending, we compete with smaller companies, not big banks, and have a significant advantage in lower funding costs.

Q: Why didn't you raise EBITDA guidance despite strong results? A: Christopher Lapointe, CFO: We raised revenue guidance due to strong execution and demand. We're investing in growth opportunities rather than increasing profitability. The incremental revenue allows us to invest in initiatives for long-term growth while maintaining EBITDA and EPS guidance.

Q: How should we think about the cross-buy flywheel with new commercial products? A: Anthony Noto, CEO: SMB products are synergistic with our existing business, adding to the flywheel. Big Business Banking, born from demand for API-driven Fiat and crypto banking, will drive usage of SoFi USD and create synergies across our offerings.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.