SoFi Technologies reported fourth-quarter earnings of $0.13 per share, surpassing the Zacks Consensus Estimate of $0.12 and more than doubling the $0.05 earned in the same quarter a year ago. This result was driven by robust revenue growth across its lending and financial services segments, with total quarterly originations increasing by 45% year-over-year. The company also reported its highest quarterly deposit growth to date, bolstering its net interest income and improving funding flexibility as it continues to scale its banking operations.

Strong demand for refinancing and personal loans propelled a 60% year-over-year increase in fee-based revenue during the quarter. Home-loan originations nearly doubled compared with the prior year period, while advisory and wealth-management fees rose by 35%, reflecting growing customer adoption of investment and insurance products. SoFi’s Galileo technology platform contributed to these gains by enabling rapid rollout of new fee-driven offerings and facilitating cross-selling initiatives that raised the average products per member to 2.8.

To support its ambition of becoming a one-stop financial marketplace, SoFi secured a national banking charter that provides access to low-cost deposits and strengthens its balance sheet. The company has re-entered cryptocurrency trading and launched an actively managed AI-focused ETF, while partnering with Lightspark to pilot blockchain-based cross-border transfers targeting the $63 billion U.S.-to-Mexico remittance corridor. Chief Executive Anthony Noto has reiterated targets of 30% annual member growth and 20% revenue growth, underpinned by continued investment in technology, marketing, and product diversification to drive profitability over the next five years.