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SoFi stock rose about 11% after record Q3 2026 revenue of $1.39 billion, a raised full-year outlook and 2027 EPS guidance of $0.90 above Wall Street estimates.
- SoFi Technologies (SOFI) posted record Q3 2026 net revenue of $1.39 billion, up 44%, and net income of $241 million.
- The company raised 2026 adjusted net revenue guidance to $5.04 billion and set 2027 adjusted EPS at $0.90 versus a $0.82 consensus.
- Shares gained about 11% in premarket trading to roughly $16 from a $14.46 close.
Lead
SoFi Technologies (NASDAQ: SOFI) reported record third-quarter 2026 results on Tuesday, October 27, lifting its full-year outlook and issuing its first 2027 guidance. Net revenue reached $1.39 billion, up 44% from a year earlier and about 11% above the $1.25 billion consensus. Diluted earnings per share were $0.18 against an expected $0.17. The shares rose about 11% in premarket trading to roughly $16.08, recovering part of the ground lost since the 52-week high of $32.73. The 52-week low is $13.86.What Did SoFi Report for the Third Quarter?
SoFi reported net income of $241 million, up 73%, and adjusted EBITDA of $470 million, up 70%, a 34% margin. It was the company's 12th consecutive profitable quarter.
Growth was led by lending. Lending revenue rose 66% to about $821 million on record originations of $16.9 billion, up 71%. Personal loan originations reached $12.6 billion, student loans $2.9 billion and home loans $1.4 billion.
Financial Services revenue rose 25% to $525 million. The Technology Platform segment was the weak spot. Revenue fell 24% to $87 million, and accounts declined 11% to 140.4 million after the exit of a large client. Excluding that client, accounts grew 18%.
Membership reached a record 17.1 million, up 35%, after a record 1.2 million additions in the quarter. Products rose 44% to 26.7 million, or 1.56 per member, up from 1.47 a year earlier. Fee-based revenue was $571 million, or 42% of the total, up from 39% in the prior quarter.
How Did SoFi Change Its Guidance?
SoFi raised its 2026 adjusted net revenue forecast to about $5.04 billion, a 40% increase on 2025. The prior range was $4.75 billion to $4.85 billion. Adjusted EBITDA guidance rose to about $1.66 billion from $1.6 billion, and adjusted EPS to about $0.61 from $0.60. Adjusted net income is projected at about $840 million.
The first 2027 outlook set the bar higher:
- Adjusted net revenue of $6.4 billion, up 27%, against a $6.14 billion consensus.
- Adjusted EBITDA of $2.24 billion, a 35% margin.
- Adjusted net income of $1.28 billion, a 20% margin.
- Adjusted EPS of $0.90, against a $0.82 consensus.
Why Did the Stock React This Way?
The stock rose because the 2027 numbers exceeded expectations and the quarter showed that growth is not coming at the expense of credit quality. The $0.90 EPS target is 10% above consensus and implies roughly 48% growth from the 2026 guide. That reset the earnings trajectory for a stock trading near the bottom of its annual range.
Credit metrics supported the case. The annualized personal loan charge-off rate fell 34 basis points to 2.26%, and the student loan rate fell 6 basis points to 0.63%. Net cumulative losses on recent vintages stand at 4.71%, below the company's 7% to 8% tolerance.
Funding is also an advantage. Deposits rose $5.8 billion in the quarter to $51.3 billion. The company says that funding costs 145 basis points less than warehouse facilities, a saving of about $745 million a year. SoFi also said its hedges allowed it to absorb a higher-than-expected interest rates environment during the quarter.
What Is the Strategic Context?
SoFi is shifting its mix toward fee income. Loan origination fees contributed $271 million and loan platform fees $151 million. Interchange revenue rose 72% to $50 million and brokerage revenue rose 47% to $18 million. Management is targeting fee revenue above 50% of the total over the long term, which would reduce earnings sensitivity to the rate cycle and the balance sheet.
Eight businesses now generate more than $100 million in annualized revenue. The company's 2030 targets are 100 million products and five businesses with revenue above $1 billion. Crypto remains small, with 503,000 products and $1.6 million of net transaction revenue in the quarter. Tangible book value per share rose 25% to $7.48, and return on tangible common equity was about 10%.
What Comes Next for SoFi?
Three variables will determine whether the 2027 guidance holds: loan origination volume, credit performance on the faster-growing personal loan book, and the pace of replacement revenue in the Technology Platform segment. The 2027 revenue target requires about $1.4 billion of added annual revenue, which is roughly one more quarter at the current run rate.
Outlook
SoFi has delivered record revenue, higher guidance and a 2027 profit target above expectations, supported by stable credit and cheaper deposit funding. The Technology Platform decline is the main offset. The shares enter the next quarter after an 11% gain, with the next test being fourth-quarter results against a 2026 target of $5.04 billion in revenue.
Mentioned tickers: SOFI
