SoFi jumps on strong Q3 and 2027 targets

SoFi Technologies (SOFI) shares climbed 13% on Tuesday to close at $16.40 after the company reported a record third quarter of 2026 and laid out ambitious guidance for 2026 and 2027. The company lifted its 2026 outlook and introduced 2027 targets that call for continued double-digit growth in revenue and earnings. The market reaction followed a quarter marked by strong top-line expansion, rising profitability and ongoing customer growth.

For the third quarter of 2026, SoFi posted record GAAP net revenue of $1.4 billion, an increase of 44% from $961.6 million a year earlier. Adjusted net revenue was also $1.4 billion, up 44% from $949.6 million in the prior-year period. Net income reached $241 million, while adjusted net income came in at $243 million, representing SoFi’s 12th consecutive profitable quarter. Earnings per share were $0.18, above analyst expectations of $0.17.

Fee-based revenue totaled approximately $570.6 million, representing 42% of total revenue. The company reported a return on tangible common equity of about 10%, highlighting improved profitability. Lending remained a key driver as total net revenue rose 44% year over year.

Loan originations reached a record $16.9 billion, up 71% from the prior year. Personal loan originations rose 69% to $12.6 billion, student loan originations jumped 96% to $2.9 billion, and home loan originations increased 44% to $1.4 billion. The company stated that credit performance was in line with expectations, with the personal loan charge-off rate declining to 2.26%.

SoFi’s customer base continued to expand alongside financial results. The company added 1.2 million members during the quarter, its highest quarterly addition, lifting total membership 35% year over year to 17.1 million. Total financial products rose 44% to 26.7 million. Management highlighted that more members are using more products and generating more revenue per product as part of its long-term focus on shareholder value.

On the back of this momentum, SoFi raised its guidance for 2026. Management now expects adjusted net revenue of approximately $5.04 billion, implying about 40% year-over-year growth. Adjusted EBITDA is projected at approximately $1.66 billion, corresponding to an adjusted EBITDA margin of around 33%. The company also forecasts adjusted earnings of $0.61 per share for 2026.

SoFi introduced its first full outlook for 2027, targeting adjusted net revenue of about $6.4 billion, which implies roughly 27% growth over the updated 2026 forecast. Management expects adjusted EBITDA of approximately $2.24 billion, equating to an adjusted EBITDA margin of about 35%. The company also guided to net income of $1.28 billion and earnings per share of $0.90 in 2027. Leadership expressed confidence that adding more members, deepening product usage and increasing revenue per product will support long-term expansion.