SoFi Technologies (SOFI) Q2 2025 earnings summary

Executive summary

• Achieved record adjusted net revenue of $858 million in Q2 2025, up 44% year-over-year, with all segments delivering record contribution profit and margins.

• Net income was $97.3 million (11% margin), adjusted EBITDA reached $249 million (29% margin), and adjusted EPS was $0.08, marking the seventh consecutive profitable quarter.

• Added 850,000 new members, a 34% increase year-over-year, bringing total members to 11.7 million; product count grew 34% to over 17 million.

• Fee-based revenue reached a quarterly record of $378 million, up 72% year-over-year, now 44% of adjusted net revenue.

• Management raised full-year 2025 guidance for revenue, EBITDA, and net income.

Financial highlights

• Financial services and technology platform segments generated $472 million in revenue, up 74% year-over-year, now 55% of total revenue.

• Lending segment adjusted net revenue grew 32% year-over-year to $447 million, with $6.3 billion in originations (up 18%) and total originations at a record $8.8 billion.

• Net interest income rose 26% year-over-year to $517.8 million; net interest margin was 5.86%.

• Total deposits grew by $2.3 billion to $29.5 billion, with 90% from direct deposit members.

• Tangible book value rose to $5.3 billion, up over $1 billion year-over-year.

Outlook and guidance

• Raised 2025 guidance: adjusted net revenue expected at $3.375 billion (30% year-over-year growth), adjusted EBITDA at $960 million (28% margin), and adjusted net income at $370 million.

• EPS guidance for 2025 raised to $0.31; tangible book value growth expected at $640 million.

• Member growth projected at 3 million+ (30% YoY); lending revenue growth in low double digits to teens.

• Confident in exceeding 25% compounded annual revenue growth from 2023 to 2026 and EPS of $0.55-$0.80 in 2026.

• Expect Q4 2025 to be higher than Q3 across all key metrics.