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Dec 31, 2024
SoFi Q4 2024 Earnings Report
SoFi reported record revenue, profit, members, and products, driven by innovation and brand building.
Key Takeaways
SoFi Technologies reported strong Q4 2024 results, with net revenue of $734 million and net income of $332 million. The company achieved record adjusted net revenue, driven by growth in the Financial Services and Tech Platform segments. Total members reached over 10.1 million, and total products were over 14.7 million.
Net revenue reached $734 million, a 19% increase year-over-year.
Net income was $332 million, a 594% increase year-over-year.
Total members grew to over 10.1 million, a 34% increase year-over-year.
Total products increased to over 14.7 million, a 32% increase year-over-year.
SoFi
SoFi
SoFi Revenue by Segment
Revenue by Segment
Lending Revenue
CapyFin.comTechnology Platform Revenue
CapyFin.comFinancial Services Revenue
CapyFin.com Forward Guidance
For Q1 2025, SoFi expects adjusted net revenue of $725 to $745 million, adjusted EBITDA of $175 to $185 million, GAAP net income of $30 to $40 million, and GAAP EPS of $0.03. For full year 2025, SoFi anticipates adjusted net revenue of $3.200 to $3.275 billion, adjusted EBITDA of $845 to $865 million, GAAP net income of $285 to $305 million, and GAAP EPS of $0.25 to $0.27.
Positive Outlook
- Incremental EBITDA margin of approximately 30%.
- GDP expansion of 1–2%.
- Normalization of unemployment in the 5% range.
- Continuation of normalized credit spreads across capital markets.
- Stabilization of consumer credit.
Challenges Ahead
- Interest rate outlook consistent with the forward curve and just north of 1.5 rate cuts.
- Tax rate of 26%, which is believed to be the effective tax rate in 2025.
- Management has not reconciled forward-looking non-GAAP measures to their most directly comparable GAAP measures.
- The company cannot predict with reasonable certainty and without unreasonable efforts the ultimate outcome of certain GAAP components of such reconciliations due to market-related assumptions that are not within our control as well as certain legal or advisory costs, tax costs or other costs that may arise.
- Management is unable to assess the probable significance of the unavailable information, which could materially impact the amount of the future directly comparable GAAP measures.
Revenue & Expenses
Visualization of income flow from segment revenue to net income