SoFi Technologies raised its full-year guidance after posting higher profit and revenue as well as more memberships. The shares gained about 5% in premarket trading.
The financial services company said it now expects to post adjusted earnings of 61 cents a share for 2026 with adjusted revenue anticipated at $5.04 billion. Analysts polled by FactSet expect adjusted earnings of 60 cents a share and revenue of $4.87 billion for the year.
SoFi previously projected adjusted earnings of 60 cents a share on adjusted revenue of $4.75 billion to $4.85 billion.
For the third quarter ended Sept. 30, the company posted a profit of $241 million, up from $139.4 million a year earlier.
Per-share earnings climbed to 18 cents a share from 11 cents in the year-ago period. Analysts had expected earnings of 17 cents a share in the latest quarter.
Total net revenue surged 44% to $1.39 billion from $961.6 million a year ago, while adjusted net revenue also rose 44% to $1.37 billion. Wall Street had modeled for $1.26 billion in revenue for the quarter.
Fee-based revenue reached $570.6 million, representing 42% of total revenue, and was helped by surging loan-origination fees, higher interchange and brokerage fee revenue, and contributions from its Loan Platform Business and Tech Solutions businesses.
SoFi said it has added a record 1.2 million members during the quarter, bringing its total count up 35% year-over-year to 17.1 million members.
The company said it now has eight businesses that each generated over $100 million in annualized revenue.
By 2030, SoFi said it plans on reaching 100 million products and scaling five businesses to more than $1 billion in revenue, five to more than $500 million in revenue and another five to more than $100 million.
For next year, SoFi introduced guidance of about $6.4 billion in adjusted revenue with earnings of 90 cents a share.
