SoFi Technologies, Inc. (NASDAQ:SOFI) saw its shares surge 6.76% in pre-market trading on Tuesday after reporting second-quarter results that surpassed analyst expectations and boosting its full-year outlook.
The fintech firm posted adjusted net revenue of $858 million for Q2, well above the consensus estimate of $804.23 million and marking a 44% year-over-year increase. Adjusted earnings per share came in at $0.08, beating forecasts of $0.06. SoFi also reported record adjusted EBITDA of $249.1 million, an 81% jump from the prior year.
“We had an exceptional second quarter, driving sustainable growth and strong returns through focused product innovation and brand building,” said CEO Anthony Noto.
Member growth fueled the performance, with a record 850,000 new members joining during the quarter, lifting total membership to 11.7 million—up 34% year over year. SoFi also added a record 1.26 million new products, bringing total products to 17.1 million, also a 34% increase from last year.
Fee-based revenue stood out, soaring 72% year over year to a record $377.5 million, supported by the Loan Platform Business, origination fees, referrals, and interchange revenue. Loan originations hit a record $8.8 billion for the quarter, including $2.4 billion through the Loan Platform Business.
Personal loan originations climbed 66% to $7.0 billion, student loan volume increased 35% to $1.0 billion, and home loan volume nearly doubled, rising 92% to $799 million compared to Q2 2024.
Credit performance improved, with the personal loan annualized charge-off rate falling to 2.83% from 3.31% in the prior quarter.
Following the strong first half, SoFi raised its full-year 2025 guidance, now targeting adjusted net revenue of about $3.375 billion, up from a prior range of $3.235 billion to $3.310 billion, reflecting approximately 30% growth. The company also increased its adjusted EBITDA forecast to $960 million, with an expected EBITDA margin of 28%, and raised GAAP EPS guidance to $0.31 per share.
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