SoFi Q3 2022 Earnings Report
Key Takeaways
SoFi Technologies, Inc. reported strong financial results for the third quarter of 2022, with record GAAP net revenue of $424 million, up 56% year-over-year, and adjusted net revenue of $419 million, up 51% year-over-year. The company also reported record adjusted EBITDA of $44 million, up 332% year-over-year. New member adds were nearly 424,000, and new product adds were over 635,000.
GAAP Net Revenue of $424 Million Up 56%; $419 Million Adjusted Net Revenue Up 51% Year-over-Year
Record Adjusted EBITDA of $44 Million Up 332% Year-over-Year and Up 118% Sequentially
New Member Adds of Nearly 424,000; Quarter-End Total Members Up 61% Year-over-Year to Over 4.7 Million
New Product Adds of Over 635,000; Quarter-End Total Products Up 69% Year-over-Year to Nearly 7.2 Million
SoFi
SoFi
SoFi Revenue by Segment
Forward Guidance
Management now expects full-year 2022 adjusted net revenue of $1.517-1.522 billion (up from $1.508-1.513 billion previously) and full-year adjusted EBITDA of $115-120 million (up from $104-109 million previously).
Revenue & Expenses
Visualization of income flow from segment revenue to net income