SoFi Technologies Surges 15% After Record Q3 Revenue of $1.4 Billion and Raised 2027 Outlook

SoFi Technologies delivered a record third quarter on October 27, reporting GAAP net revenue of $1.4 billion, up 44% year over year and well above the Wall Street consensus estimate of roughly $1.25 billion. Adjusted EPS came in at $0.18, beating the $0.16 estimate and marking the company's 12th consecutive profitable quarter. Adjusted EBITDA reached $469.8 million, up 70% year over year, for a 34% margin, while adjusted net income hit $243 million. Loan originations reached a record $16.9 billion, lending segment revenue rose 66% to $821.3 million, and total deposits climbed to $51.3 billion. The company's crypto product offerings surpassed 503,000. The one soft spot was the Technology Platform segment, which generated $87.4 million in revenue, down 24% year over year.

Off the strong results, SoFi raised its full-year 2026 adjusted revenue guidance to approximately $5.04 billion, above the prior estimate of $4.87 billion, and lifted its full-year adjusted EPS outlook to roughly $0.61 versus the $0.59 consensus. The company also issued an initial 2027 outlook calling for adjusted revenue of approximately $6.4 billion, ahead of the $6.0 billion Wall Street had modeled, with adjusted EPS of $0.90 versus the $0.82 estimate and adjusted net income of $1.28 billion. Management said the 2027 growth plan requires no additional capital raise.

CEO Anthony Noto told CNBC that SoFi is targeting 100 million products by 2030, roughly four times its current level of 26.7 million, and said that milestone could translate into a proportional increase in earnings. Membership stood at 17.1 million, up 35% year over year, and the company guided for at least 30% member growth in 2026. Fee-based revenue rose 21% sequentially to $570.6 million, representing 42% of adjusted net revenue. SoFi extended its streak to 20 consecutive quarters exceeding the Rule of 40. Shares surged as much as 15%, reaching $16.56, putting the stock on track for its best single-day gain in at least a year.