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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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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