SoFi Technologies Inc
SOFI
ISIN US83406F1021 / Valor 111854151
SoFi Technologies Inc
UMushroom community rating:
About company
SoFi Technologies Inc is a financial technology company that offers a range of products and services including student loan refinancing, personal loans, and investment management.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (17.12.2024):
Revenue Growth
In the third quarter of 2024, SoFi Technologies Inc. reported a total GAAP net revenue of $697.1 million, marking a 30% increase from the $537.2 million recorded in the same period of the previous year. This growth was driven by strong performance across its financial services and tech platform segments.
Net Income Achievement
SoFi Technologies Inc. achieved a GAAP net income of $60.7 million in Q3 2024, marking its fourth consecutive quarter of profitability. This is a significant turnaround from the net loss of $266.7 million reported in the third quarter of 2023.
Adjusted EBITDA Surge
The company reported a record adjusted EBITDA of $186.2 million for Q3 2024, representing a 90% increase from the $98.0 million reported in the same quarter of the previous year. This reflects a 27% adjusted EBITDA margin, highlighting improved operational efficiency.
Member and Product Expansion
SoFi Technologies Inc. saw continued growth in its member base, with new member additions exceeding 756,000 in Q3 2024, bringing the total to nearly 9.4 million. Total products reached nearly 13.7 million, up 31% from the previous year, driven by strong demand for personal loan products and growth in student and home loan offerings.
Financial Services Segment Performance
The Financial Services segment of SoFi Technologies Inc. reported a net revenue increase of 102% year-over-year, reaching a record $238.3 million in Q3 2024. This was fueled by a 66% rise in net interest income and a 235% surge in noninterest income, primarily driven by the Loan Platform Business.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
16961 M
Market cap (USD)
3,140,120
Daily traded volume (Shares)
16.03 / 15.57
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
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EPS (USD)
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Ratings & reviews
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