- SoFi Technologies, Inc. (SOFI, Financial) reports record Q1 2025 revenue of $771.8 million, marking a 20% year-over-year increase.
- The company achieved a net income of $71.1 million with 34% member growth, adding 800,000 new members to reach 10.9 million.
- SoFi's Financial Services segment revenue more than doubled, reaching $303.1 million in Q1 2025.
Digital financial services provider SoFi Technologies, Inc. (SOFI) announced record-breaking results for the first quarter of 2025, demonstrating significant growth across major financial metrics. The company generated net revenue of $771.8 million, which is a 20% increase compared to the same period the previous year, and reported a net income of $71.1 million.
SoFi's member base saw a substantial increase, rising by 34% year-over-year with the addition of 800,000 new members during the quarter. This brought the total number of members to 10.9 million. The company also reported an increase in total products, which grew by 35% to 15.9 million.
The company's Financial Services segment was a key driver of this growth, with revenue more than doubling year-over-year to $303.1 million. Net interest income within the segment increased by 45% to $173.2 million, while noninterest income quadrupled to $129.9 million.
In addition to its revenue achievements, SoFi made significant strides in its Loan Platform Business, originating $7.2 billion in loans, including $1.6 billion on behalf of third parties. The company secured over $8 billion in new commitments from partners like Blue Owl, Fortress, and Edge Focus.
Deposit growth was another strong area for SoFi, with total deposits reaching $27.3 billion. Impressively, over 90% of SoFi Money deposits were sourced from direct deposit members, providing a stable, lower-cost funding base for the company.
