SoFi Stock Tanks 9% as Profit Guidance Stays Unchanged After Record Q2

TLDR

• SoFi stock fell 8.90% to $15.25 after its second-quarter earnings report.
• SoFi reported total net revenue of about $1.2B, up 43% from a year earlier.
• Adjusted EBITDA rose 44% to nearly $358M, while EPS reached $0.12.
• Loan originations hit a record $14.8B across personal, student, and home loans.
• SoFi kept its 2026 EPS guidance unchanged at $0.60 despite raising revenue guidance.

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SoFi stock dropped 8.90% to $15.25 after investors focused on unchanged profit guidance, even as the fintech reported record second-quarter revenue, earnings, members, and loan originations.

SoFi Stock Falls Despite Record Revenue

SoFi Technologies reported total net revenue of about $1.2 billion for the second quarter, up 43% from a year earlier. Adjusted revenue reached about $1.21 billion, above analyst estimates near $1.12 billion.

Adjusted earnings came in at $0.12 per share, slightly above expectations of about $0.11. Net income rose 61% to more than $156 million, while adjusted EBITDA climbed 44% to nearly $358 million.

Source: KnockoutStocks

Chief Executive Anthony Noto said, “Despite continued market uncertainty, our business model continues to prove its durability.” He said SoFi’s product growth showed stronger engagement across its financial platform.

The market reaction still turned negative after management kept its full-year profit outlook unchanged. SOFI stock fell below $16 before recovering slightly to $15.43 in overnight trading.

Unchanged Profit Forecast Pressures Shares

SoFi raised its full-year 2026 adjusted net revenue outlook to between $4.75 billion and $4.85 billion. The range sits above market expectations near $4.7 billion and points to annual growth of about 32% to 35%.

However, the company left its adjusted EBITDA forecast at about $1.6 billion. SoFi also kept adjusted net income guidance near $825 million and adjusted earnings guidance at $0.60 per share.

Investors appeared to focus on the gap between higher revenue guidance and unchanged profit targets. The update suggests SoFi may reinvest added revenue into marketing, technology, product development, and customer growth.

Technology Platform revenue also weighed on sentiment. The segment fell 23% from a year earlier to $84.5 million after the exit of a major institutional client.

A pre-arranged Rule 10b5-1 stock sale by Executive Vice President Kelli Keough also drew attention. The sale added another factor for investors already watching valuation and margin trends.

Lending Growth and Member Gains Remain Strong

SoFi’s lending business remained a key driver during the quarter. Total loan originations rose to a record $14.8 billion across personal, student, and home loans.

Lending revenue reached about $724.8 million, up 63% from a year earlier. Net interest income climbed 52% to $788.2 million, supported by a larger loan portfolio and deposit-funded lending.

Deposits rose to $45.5 billion, helping the company fund loans at lower costs. SoFi’s bank charter allows the firm to rely more on customer deposits instead of higher-cost external funding.

Member growth also remained strong. SoFi ended the quarter with 15.8 million members, up 35% year over year, after adding 1.1 million new members.

Total products rose 42% to about 24 million, including a record 2.2 million new product additions. Noto said,

“For the first time, we added twice as many products as members.”

SoFi Expands Crypto and Enterprise Services

SoFi also reported growth in its crypto business during the quarter. SoFi Crypto exceeded 388,000 products as more users adopted digital asset services on the platform.

The company launched SoFiUSD, allowing users to buy, sell, hold, and convert the stablecoin directly in the app. SoFi also used SoFiUSD to settle transactions inside its trading business.

SoFi expanded its enterprise business with Big Business Banking, a regulated platform combining fiat and crypto banking services. Early participants include Mastercard, Cumberland, Bullish, BitGo, Fireblocks, Wintermute, Galaxy, and Mesh Payments.

The company also linked Big Business Banking with the SoFi Exchange Network. The integration allows enterprise clients to send and receive payments in real time on a 24/7 basis.