SoFi Technologies (SOFI) Q4 2025 earnings summary

Executive summary

• Achieved record financial performance in 2025, with adjusted net revenue of $3.6 billion, up 38% year-over-year, and adjusted EBITDA of $1.1 billion, up 58% year-over-year at a 29% margin.

• Q4 2025 adjusted net revenue reached $1.013 billion, up 37% year-over-year, with adjusted EBITDA of $318 million (31% margin) and net income of $174 million (17% margin).

• Member base grew 35% year-over-year to 13.7 million, with 1 million new members and 1.6 million new products added in Q4.

• Launched innovative crypto and blockchain products, including a stablecoin and international remittances, and introduced the SoFi Smart Card.

• Brand awareness and cross-buy rates reached all-time highs, supporting robust member and product growth.

Financial highlights

• Fee-based revenue reached a quarterly record of $443 million, up 53% year-over-year, with annualized fee-based revenue at $1.8 billion.

• Tangible book value ended 2025 at $8.9 billion, up $4 billion year-over-year, or $2.54 per share.

• Rule of 40 score reached 68% in Q4, highlighting strong growth and profitability.

• Net interest income for the quarter was $617.3 million, up 31% year-over-year.

• Book value per share increased to $8.26, and tangible book value per share rose to $7.01.

Outlook and guidance

• 2026 guidance: adjusted net revenue of $4.655 billion (30% growth), adjusted EBITDA of $1.6 billion (34% margin), adjusted net income of $825 million (18% margin), and adjusted EPS of $0.60.

• Q1 2026 guidance: adjusted net revenue of $1.04 billion (35% growth), adjusted EBITDA of $300 million (29% margin), and adjusted EPS of $0.12.

• Expect compounded annual adjusted net revenue growth of at least 30% and EPS growth of 38%-42% from 2025 to 2028.

• Segment guidance for 2026: financial services revenue growth of 40%+, lending revenue growth of 23%, and tech platform revenue growth of 20% (normalized for client transition).

• Medium-term guidance calls for at least 30% compounded annual growth in adjusted net revenue and 38–42% CAGR in adjusted EPS from 2025 to 2028.