Sofi Technologies (NASDAQ:SOFI) reported second quarter 2026 results that exceeded Wall Street expectations for revenue and adjusted earnings, while raising its full-year revenue outlook as the financial technology company continued to expand its member base and product offerings.
The company reported adjusted earnings per share of $0.12 for the quarter, ahead of analyst estimates of $0.11.
Revenue came in at $1.20 billion, above expectations of $1.11 billion, with adjusted net revenue rising about 40% year over year.
Net income for the quarter was $157 million, while adjusted EBITDA increased 44% from a year earlier to a record $358 million. Total loan originations reached a record $14.8 billion during the period.
SoFi reported continued growth in its customer base, with members increasing 35% year over year to a record 15.8 million. Total products grew 42% to 24.4 million, with the company noting that 51% of new products opened during the quarter came from existing members.
“2026 is shaping up to be a defining year, and our second quarter results mark a clear inflection point for SoFi,” CEO Anthony Noto wrote. “Despite continued market uncertainty, our business model continues to prove its durability. We grew members 35% year-over-year and added a record 2.2 million products, a 42% increase.”
Noto highlighted growth in products including SoFi Plus and SoFi Coach, writing that the offerings were “deepening member relationships and increasing lifetime value,” while the company’s consumer and enterprise platforms continued to expand.
SoFi raised its full-year 2026 adjusted net revenue outlook to a range of $4.75 billion to $4.85 billion, representing approximately 32% to 35% year-over-year growth and above previous Wall Street expectations of around $4.70 billion.
The company maintained its outlook for adjusted EBITDA of approximately $1.6 billion, implying an adjusted EBITDA margin of roughly 33% to 34%. Management also kept its expectations for adjusted net income of about $825 million, an adjusted net income margin of approximately 17%, and adjusted earnings per share of about $0.60.
Despite the earnings beat and higher revenue guidance, SoFi shares fell about 10% following the results. The decline came as investors focused on unchanged profit guidance, a 23% year-over-year decline in technology platform revenue, and increased marketing expenses.
For 2026, management continued to expect member growth of at least 30% year over year, with further details on its outlook expected during the company’s earnings conference call.