SoFi Technologies reported 12.6 million members in its fiscal third quarter (ended Oct. 28), reflecting a 35% year-over-year increase as the company’s diversified product suite—ranging from checking and savings to personal loans and insurance—resonates with tech-savvy consumers. Total revenue surged 38% to $950 million, while non-GAAP adjusted earnings per share jumped 120% to $0.11. Management’s goal of 30% member growth and 20% revenue growth underscores confidence in both customer acquisition and cross-selling initiatives.

Since obtaining its national bank charter, SoFi has leveraged lower-cost deposits to fund lending operations more efficiently, driving net interest income. The company’s deposit base has grown in tandem with its banking operations, enhancing margins as lending volumes expand. Strategic tie-ups—including a partnership with GoTu Technology for a dental-focused marketplace and an alliance with Lightspark to trial blockchain-powered cross-border transfers—highlight SoFi’s push into new verticals and underscore its ambition to become a one-stop financial platform.

Home loans accounted for $2.3 billion in originations over the first three quarters of 2025, and quarterly volumes nearly doubled from $490 million to $945 million versus the prior period. With the U.S. housing market representing roughly $6 trillion in annual existing-home sales and homeowners sitting on $35 trillion in equity, lower interest rates over the next two years could catalyze substantial growth. Cross-selling to SoFi’s 12.6 million members and leveraging its third-party mortgage referral platform may unlock a multibillion-dollar revenue stream.

Since its 2021 debut, SoFi has more than doubled revenue from $977 million to $2.34 billion in 2024, while narrowing net losses from $484 million to $113 million. Sales and marketing investments—$720 million in 2023—have driven scale in its Galileo technology and member acquisition. Wall Street consensus forecasts revenue of $3.45 billion and net income of $584 million by 2026, implying EPS expansion and a path to positive operating leverage as the company capitalizes on broad market adoption of its digital ecosystem.