SoFi Technologies maintained its 2026 revenue forecast on Wednesday, a decision that overshadowed its record first-quarter results. The company reported strong loan and member growth in the three months ended March 31, yet its shares fell 8% before the bell.
The reiterated forecast comes amidst persistent macro uncertainty, even as loan demand strengthens and U.S. consumers and the economy show resilience. SoFi continues to expect full-year profit of 60 cents per share on revenue of approximately $4.66 billion, aligning with Wall Street's expectations.
Total loan originations at SoFi reached a record $12.2 billion, fueled by significant growth across personal, student, and home loan segments. Member growth accelerated 35% year-over-year to a record 14.7 million.
"The health of our consumer base remains strong. We saw record loan growth in the first quarter with strong demand expected for the second quarter," stated SoFi CEO Anthony Noto. He confirmed strong point-of-sale debit spending and credit performance in line with expectations.
SoFi's net interest income rose 39% to $693 million in the first quarter, while total fee-based revenues increased 23% to $386.8 million. First-quarter profit surged to 12 cents per share, double that of the previous year, with adjusted revenue climbing 41% to a record $1.1 billion.