SoFi reported adjusted net revenue of $1.013 billion for the fourth quarter, marking its first billion-dollar quarter and a 37% year-over-year increase. Adjusted earnings per share of $0.13 exceeded the consensus estimate of $0.11 by 18%, driven by strength across lending, deposits and fee-based businesses. Adjusted EBITDA climbed 60% to $318 million, representing a 31% margin and underscoring the company’s continued operational leverage.

The company added a record 1 million new members during the quarter, bringing total membership to 13.7 million—a 35% increase from a year earlier. Cross-selling momentum remained robust, with 1.6 million new products opened in the quarter (up 37% year-over-year). Management noted that 40% of those products were adopted by existing members, driving fee-based revenue up 53% to $443 million and highlighting the success of SoFi’s integrated platform strategy.

SoFi raised its full-year 2026 adjusted net revenue guidance to approximately $4.655 billion, above analyst expectations, and set adjusted EBITDA guidance at $1.6 billion. However, investor reaction was muted due to recent capital raises totaling $3.2 billion, which raised dilution concerns. While the company emphasized that proceeds will support both organic growth and potential strategic acquisitions, some market participants have questioned how efficiently the additional capital will be deployed to sustain profitability and member engagement.