SoFi Technologies announced a record $1.1 billion in net revenue for the first quarter of 2026, a 43% increase from the previous year. Net income surged 134% to approximately $167 million.
The digital financial services company added over 1 million new members in Q1, bringing its total to nearly 15 million. This growth fueled a 39% increase in platform products, with lending originations rising 68% year-over-year to over $12 billion across personal, student, and home loans.
SoFi's deposits surpassed $40 billion, now representing over 90% of liabilities and significantly lowering funding costs. Net interest income grew 39% to $693 million, and adjusted EBITDA increased 62% to nearly $340 million.
CEO Anthony Noto highlighted that new initiatives, including digital assets, are enhancing the platform's expansion and supporting long-term growth. He stated, “We had an excellent Q1 delivering another quarter of durable growth and strong returns, fueled by our relentless focus on innovation and brand building.”
For the full year, SoFi forecasts adjusted net revenue of approximately $4.6 billion and adjusted EBITDA of about $1.6 billion. The company also remains committed to at least 30% member growth annually.
SoFi, the first US fintech with a full banking charter, recently launched SoFiUSD, a stablecoin issued by its OCC-regulated bank subsidiary, and Big Business Banking, a platform for enterprise management of traditional and digital assets.