SoFi Technologies (NASDAQ:SOFI) delivered a strong Q2 2026 beat and raise, reporting record revenue of $1.2 billion and GAAP net income of $156.6 million resulting in a better than expected $0.12 EPS. This marked its 11th consecutive profitable quarter. Driven by strong cross-selling, adjusted EBITDA reached a record $357.8 million, extending its “Rule of 40” streak to 19 quarters. Management raised FY2026 revenue guidance to between $4.75 billion and $4.85 billion while holding EBITDA target at $1.6 billion to reinvest top-line upside into growth initiatives.
Fee-based revenue surged 22% sequentially to $472.3 million, representing 39% of total net revenue. Financial Services revenue reached $466.3 million as total members grew 35% to 15.8 million and total products climbed 42% to 24.4 million, with existing members opening 51% of all new products. Simultaneously, the asset-light Loan Platform Business (LPB) generated $143.3 million in fee revenue by originating $3.1 billion in personal loans directly for third-party institutional buyers.
SoFi Bank’s balance sheet continues to strengthen as a structural advantage. Deposits grew by $5.3 billion sequentially to $45.5 billion, funding over 90% of liabilities and saving $712.6 million in annualized interest expenses compared to warehouse facilities. Net interest margin expanded to 5.98%, while the bank maintained an 18.8% Total Capital Ratio. Credit performance remained disciplined, with personal loan net charge-offs improving 70 bps quarter over quarter to 3.7%.
On the earnings call, management highlighted the acquisition of Peach Finance to expand core-banking infrastructure and the launch of the SoFi Exchange Network, which uses SoFiUSD for real-time Mastercard settlement. CEO Anthony Noto confirmed that reinvesting near-term margin upside into enterprise technology, AI capabilities, and SMB banking will maximize long-term return on equity across the ecosystem.
Here is the high-level summary card covering key figures and guidance.
