SoFi Technologies (NASDAQ:SOFI) reported record revenue and net income for the third quarter driven by increased loan originations, fee-based revenue growth, and a rise in total members and products.
For the quarter ended September 30, 2025, SoFi posted revenue of $961.6 million, up 38% from $697.1 million in the same period last year and ahead of Wall Street estimates of $889 million to $895 million.
The company posted net income of $139.4 million, or $0.11 per diluted share, more than double the $0.05 per share earned in Q3 2024. This topped the consensus of $0.08.
Adjusted EBITDA rose 49% to a record $276.9 million, representing a margin of 29%.
Fee-based revenue grew 50% year-over-year to $408.7 million, driven by strong performance across SoFi’s Loan Platform Business, origination fees, referral fees, interchange revenue, and brokerage fees.
SoFi added a record 905,000 new members in the quarter, bringing its total to 12.6 million, a 35% increase year-over-year.
Total products reached 18.6 million, up 36% from last year, with cross-buy activity hitting its highest level since 2022.
On the back of its strong results, SoFi raised its full-year 2025 guidance, now targeting approximately $3.54 billion in adjusted net revenue and adjusted EPS of $0.37, up from prior guidance.
Shares of SoFi slipped post-earnings, down 0.7% at about $30.