SoFi reported fourth-quarter 2025 adjusted net revenue of $1.0 billion, surpassing consensus estimates by 8%. Fee-based revenue climbed 53% year-over-year to $443 million, driven by strong performance in its financial services and enterprise segments. The company generated $318 million in Q4 adjusted EBITDA, representing a 31% margin and 44% incremental margin, underscoring significant operating leverage compared with the prior year.

During the quarter, SoFi added 1.0 million net new members, bringing the total membership base to 12.6 million. The platform originated $10.5 billion in loan volume and collected $38 billion in deposits, with high-quality borrower profiles supporting low credit losses. Management also rolled out new blockchain-based services, positioning SoFi to capture fee revenue from tokenized assets and digital wallets over the coming quarters.

For full-year 2026, SoFi projects 30% adjusted net revenue growth and 52% adjusted EBITDA expansion, implying a continuation of its rapid earnings trajectory. The company forecasts a 54% increase in diluted earnings per share, driven by scaled fee businesses and margin accretion in lending. Executives said they expect personal loans to remain the primary profit driver, while fee diversification and enterprise partnerships should mitigate interest-rate pressure on refinancing yields.

In late January, SoFi completed a $1.5 billion equity raise despite having ample liquidity, prompting analysts to speculate about potential acquisitions. CEO comments highlighted a desire to pursue strategic fintech targets that complement SoFi’s digital banking platform and accelerate cross-sell opportunities. The additional capital provides flexibility to pursue deals without disrupting organic growth investments.