SoFi (NASDAQ:SOFI) surprises with strong Q3 2026, stock soars

Digital financial services provider SoFi Technologies delivered a stronger-than-expected financial performance for the third quarter of 2026, prompting a sharp rally in its share price. The company posted record quarterly metrics across revenue, membership, and loan originations, while also upgrading its financial outlook for the remainder of the year and issuing an optimistic initial forecast for 2027.

For the quarter ended September 30, 2026, reported by The National Law Review and Yahoo Finance, SoFi achieved GAAP net revenue of $1.39 billion, marking a 45.9% increase compared to the same period in the prior year according to FinancialContent. Adjusted net revenue reached $1.4 billion, matching records and easily surpassing Wall Street consensus estimates. Net income climbed significantly to $241 million, translating to diluted earnings per share of $0.18. Adjusted EBITDA also experienced substantial growth, rising 70% to $470 million with a 34% margin.

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"We had exceptional Q3 results against the backdrop of any environment, but they are even more remarkable given how 2026 has unfolded. Our focus is simple. We are adding more members, who are using more products, and generating more revenue per product to create the most value for our shareholders over the long run. In less than a decade, we have transformed SoFi from a single-product company into an everything financial app with eight different businesses each generating over $100 million in annualized revenue. Our conviction in the opportunity ahead has never been greater."

Anthony Noto, CEO of SoFi, via FinancialContent and The National Law Review

The stellar financial quarter was underpinned by record origination volumes across multiple lending categories. Total loan originations hit $16.9 billion for the quarter, surging 71% year-over-year. Personal loans accounted for $12.6 billion of that total, reflecting a 69% increase. Student loan originations reached $2.9 billion—marking the highest quarterly total in the company's history—while home loans contributed $1.4 billion, buoyed by strong demand for home equity products.

Growth was not limited to lending. SoFi’s Financial Services segment continued its rapid expansion, generating $525.1 million in net revenue, up 25% year-over-year. The firm added a record 2.2 million new products during the quarter, bringing its cumulative product count to 26.7 million. Deposits also saw healthy inflows, growing by $5.8 billion to reach $51.3 billion at the close of September. Total membership expanded by 35% from the previous year to reach 17.1 million users.

Not all segments experienced uniform gains. As noted by The National Law Review and KuCoin, the Technology Platform segment reported net revenue of $87.4 million, representing a 24% decrease year-over-year. Company executives attributed the drop to the departure of a major client that had fully transitioned off the platform by the end of the previous year. However, sequential metrics showed signs of stabilization, with segment revenue rising 3% and enabled accounts increasing by 6 million from the prior quarter.

Buoyed by the third-quarter beat, management raised its financial guidance for the remainder of the year. SoFi now projects full-year 2026 adjusted net revenue of approximately $5.04 billion, up from prior ranges and ahead of analyst expectations tracked by FactSet. Adjusted EBITDA expectations were similarly increased to $1.66 billion, alongside an upgraded adjusted EPS forecast of $0.61. Looking ahead, the company introduced its preliminary outlook for 2027, anticipating $6.4 billion in adjusted net revenue, $2.24 billion in adjusted EBITDA, and earnings of $0.90 per share.

The market reaction was swift. Following the earnings release, KuCoin reported that SoFi shares surged more than 10% in premarket trading to $15.96, recovering sharply from three consecutive sessions of declines that had left the stock down roughly 45% year-to-date through Monday. FinancialContent noted an immediate 8.5% spike to $15.70 upon publication of the results, while Yahoo Finance highlighted trading levels near $16.51. In related digital asset Markets, a tokenized instrument linked to SoFi shares also posted gains over a 24-hour window.