Earnings
Home›Earnings›Previews›SoFi shares fall after record quarter as profit outloo…
SoFi shares fall after record quarter as profit outlook lags
SoFi added 1.1 million new members in FQ2 2026 and grew tangible book value 80% year over year to $9.5 billion, but left adjusted EBITDA guidance unchanged at $1.6 billion.
SoFi Technologies posted its best quarter in history, with record membership and loan activity, yet the stock fell about 9% the day results were released. The company also reported that the shares are down nearly 42% for the year so far.
In FQ2 2026, SoFi added 1.1 million new members, bringing its base to 15.8 million, up 35% year over year. It said 51% of new products went to existing members, up from 43% in the prior quarter, and the average member now uses 1.54 products, up from 1.46 a year earlier.
The balance sheet data pointed to strong growth, with tangible book value rising 80% year over year to $9.5 billion, or $7.34 per share. Deposits reached $45.5 billion, the total capital ratio was 18.8% versus a 10.5% regulatory minimum, and loan originations hit a record $14.8 billion, up 69%, while the personal loan charge-off rate fell 21 basis points.
On guidance, SoFi raised full-year adjusted net revenue to $4.75 billion to $4.85 billion, up from $4.66 billion, but kept adjusted EBITDA guidance at $1.6 billion and adjusted earnings per share at $0.60. Yahoo Finance noted that investors appeared to focus on the profit outlook, which did not move in line with revenue.