SoFi posts $1.1B sales, 41% growth; CEO buys shares as value drops to $22.7B
SOFI•SoFi delivered $1.1B in sales (+41% YoY) in its tenth consecutive GAAP‐profitable quarter, backed by a 5.94% net interest margin and 2.2x deposit growth. Market value fell from nearly $40B to $22.7B, though CEO Anthony Noto bought 13,888 shares at $18.06 on June 16.
1. Tenth Consecutive GAAP-Profitable Quarter
SoFi achieved its tenth straight quarterly GAAP profit, marking sustained earnings performance and improved operational efficiency. The streak underscores consistent revenue recognition from loan origination activities and tighter expense controls.
2. Record Sales and Deposit Growth
The company reported record sales of $1.1B, a 41% year-over-year increase driven by robust loan volumes and higher cross-sell within its product ecosystem. Deposits have grown 2.2 times over two years, bolstering funding stability and reducing reliance on market debt.
3. Market Valuation Decline
Shares have slumped from a near $40B valuation to $22.7B, reflecting investor caution over upfront loan profit recognition and macroeconomic sensitivity. Tangible book value and net interest margin have emerged as key metrics for assessing true financial health.
4. CEO Share Purchase
CEO Anthony Noto purchased 13,888 shares at an average price of $18.06 on June 16, marking his fifth personal buy this year. The ongoing insider purchases signal management’s confidence in the company’s growth trajectory and profitability prospects.
