SoFi Technologies (SOFI) Q1 2026 earnings summary

Executive summary

• Achieved record GAAP and adjusted net revenue of $1.1 billion in Q1 2026, up 41–43% year-over-year, with net income of $166.7–$167 million (15% margin), and adjusted EBITDA of $339.9–$340 million (31% margin).

• Diluted EPS doubled to $0.12 year-over-year; tangible book value per share rose 57% to $7.21.

• Added a record 1.1 million new members (up 35% YoY to 14.7 million) and 1.8 million new products (up 39% YoY to 22.2 million).

• Launched SoFiUSD stablecoin, Big Business Banking, and expanded SoFi Plus with new benefits; recognized as #1 U.S. Bank by Forbes and #1 in JD Power’s 2026 U.S. Investor Satisfaction Study.

• Achieved 18 consecutive quarters exceeding the Rule of 40, with a score of 72.

Financial highlights

• Adjusted net revenue grew 41% YoY to $1.1 billion; adjusted EBITDA was $340 million (up 62% YoY, 31% margin); GAAP net income reached $167 million (15% margin); EPS was $0.12.

• Fee-based revenue reached $386.8–$390 million (up 23% YoY), representing 36% of adjusted net revenue.

• Net interest income was $690–$693 million, up 39% YoY, with net interest margin at 5.94%, up 22 bps sequentially.

• Total deposits grew by $2.7 billion to $40.2 billion, supporting loan growth and reducing funding costs.

• Tangible book value increased $336 million QoQ to $9.2 billion.

Outlook and guidance

• Q2 2026 guidance: adjusted net revenue growth of ~30% YoY (~$1.115 billion), adjusted EBITDA margin ~30% (~$330 million), and adjusted net income margin of 12–13% ($0.10–$0.11 EPS).

• Full-year 2026: expects at least 30% member growth, adjusted net revenue of ~$4.66 billion (30% growth), adjusted EBITDA of ~$1.6 billion (34% margin), adjusted net income of ~$825 million (18% margin), and adjusted EPS of ~$0.60.

• Management expects continued growth in members, products, and fee-based revenue, supported by investments in technology and product expansion.