SoFi Jumps 11% as Record $1.4B Quarter Beats Estimates, Guidance Rises and 2027 Target Hits $6.4B

SoFi Technologies (SOFI) reported record third-quarter adjusted net revenue of $1.37 billion, up 44% from a year ago, and earnings of $0.18 per diluted share before the open on Tuesday, ahead of analyst estimates of about $1.26 billion and $0.17. The company raised its 2026 outlook and issued an early look at 2027, targeting about $6.4 billion in adjusted net revenue. Shares were up about 11% in premarket trading, to about $16.08 from Monday's close of $14.46.

Third-quarter results

By our calculation, adjusted net revenue beat the roughly $1.26 billion consensus by about 8%. Net interest margin was 6.14%, up 16 basis points from the prior quarter, and fee-based revenue was $570.6 million, or 42% of the total. SoFi said it was its 12th consecutive profitable quarter. CEO Anthony Noto said, "We had exceptional Q3 results against the backdrop of any environment."

Members, products and deposits

SoFi ended the quarter with 17.1 million members, up 35% from 12.6 million, after adding a record 1.2 million. Products reached nearly 26.7 million, up 44%, with a record 2.2 million added, and existing members opened 51% of the new products. Total deposits were $51.3 billion, up $5.8 billion in the quarter, and deposits funded 90% of average liabilities. Tangible book value per share rose 25% to $7.48.

Segment results

Lending was the engine: total originations hit a record $16.9 billion, up 71%, led by $12.6 billion of personal loans and $2.9 billion of student loans, the company's best quarter ever for that product. SoFi sold or transferred more than $5.3 billion of loans. Technology Platform revenue fell because a large client left the platform; SoFi said revenue would have grown 18% excluding that client. Financial Services margin fell as revenue per product slid to $90 from $104 a year ago.

Credit quality

The personal loan charge-off rate was 2.26% on an annualized basis, down 34 basis points from a year ago, and the student loan charge-off rate was 63 basis points, versus 69 a year ago. The all-in net charge-off rate on personal loans was about 3.4% excluding late-stage delinquent loan sales, down 80 basis points from a year ago. Ninety-day delinquencies were relatively consistent with the prior year.

Guidance

Management said the new 2026 guidance is above analyst estimates as of Oct. 26. The 2026 figures imply about $1.375 billion of revenue, $492 million of adjusted EBITDA and $0.19 of EPS in the fourth quarter, which by our calculation would be roughly flat with the third quarter's revenue. The 2027 outlook, issued early, aims for a 35% adjusted EBITDA margin and about 20% net income margin, and, per the earnings call, assumes two Federal Reserve rate hikes. SoFi also set a 2030 goal of 100 million products.

What it means for investors

SoFi is growing fast and profitably, and the 2027 target is above pre-report analyst estimates. The questions are how long lending can keep growing at this pace, how much of the profit depends on interest rates, and whether the weaker Technology Platform and Financial Services margins are temporary. Flat implied fourth-quarter revenue also suggests the guidance leaves room to beat.

Sources: SoFi Technologies, Inc., third-quarter 2026 results (Oct. 27). Consensus figures are analyst estimates. This is informational, not a recommendation to buy or sell.