SoFi Technologies (SOFI) Q2 2026 earnings summary

Executive summary

• Achieved record adjusted net revenue of $1.2 billion for Q2 2026, up 40–43% year-over-year, with adjusted EBITDA of $358 million (30% margin) and adjusted net income of $160 million (13% margin); net income was $156.6–157 million, up 61% year-over-year.

• Member base grew 35% year-over-year to 15.8 million, and total products reached 24.4 million, up 42%; cross-buy reached 51% of new products, up from 35% a year ago.

• Achieved 19th consecutive quarter exceeding the Rule of 40, with a score of 70.

• Expanded offerings with SoFi Plus (over 200,000 paid subscribers), SoFi Coach, small business loans, HELOC, and AI-powered investing.

• Completed acquisitions of Peach Finance and Composer Securities to enhance technology and investing capabilities.

Financial highlights

• Adjusted net revenue grew 40% year-over-year to $1.2 billion in Q2 2026; net interest income rose 52% to $788.2 million; net interest margin was 5.98%.

• Adjusted EBITDA was $358 million, up 44% year-over-year, with a 30% margin.

• Adjusted net income reached $160 million (13% margin); adjusted EPS was $0.12.

• Tangible book value rose to $9.5 billion, or $7.34 per share (up 56% year-over-year); equity increased to $11.1 billion.

• Deposits grew by $5.3 billion to $45.5 billion in Q2 2026.

Outlook and guidance

• Full-year 2026 adjusted net revenue guidance raised to $4.75–$4.85 billion, up 32–35% year-over-year.

• Adjusted EBITDA expected at ~$1.6 billion (33–34% margin); adjusted net income forecast at ~$825 million (17% margin); adjusted EPS of $0.60.

• Management expects member growth of at least 30% year-over-year for 2026.

• Long-term ROTCE target remains 20–30%.