SoFi lifted its revenue projection for 2026 after delivering a second-quarter performance that exceeded market expectations, driven by unusually strong member recruitment and loan originations.
The company reported record quarterly metrics for both customers and new lending activity, prompting management to raise its full-year revenue range to $4.75 billion to $4.85 billion, above analysts' consensus of $4.7 billion according to LSEG estimates.
Quarterly performance and key metrics
For the quarter ended June 30, SoFi said total loan originations reached a record $14.8 billion. Member headcount grew 35% year-over-year to a record 15.8 million, reflecting continued customer traction across its digital platform.
Adjusted revenue for the quarter rose 40% to a record $1.2 billion, topping the $1.12 billion analysts had expected. Net interest income increased 52% from a year earlier to $788.2 million, underpinning the company’s stronger top-line performance. On an adjusted basis, earnings per share were 12 cents, a 50% increase from the prior year and slightly above the 11 cents consensus.
Management view and strategy
Chief executive Anthony Noto told Reuters that SoFi’s members have been resilient in the current environment, noting that spending and demand remain strong and that credit performance continues to meet or exceed expectations. Noto emphasized that organic growth is the company’s primary focus, while also saying SoFi will evaluate acquisition opportunities when they clearly make sense.
Noto highlighted the company’s ability to generate durable net interest income from loans retained on the balance sheet while also scaling capital-light, fee-based businesses. He said the mix of those approaches provides confidence in SoFi’s earnings durability.
Broader context
SoFi’s results come amid an uncertain macroeconomic backdrop characterized by elevated interest rates and high living costs. Despite those conditions, the firm said credit quality has remained stable due to resilient borrowers, allowing lenders to expand loan portfolios and interest income. The company’s combination of a broader product set and a digital-first approach has helped it compete with traditional banks for customers.