SoFi Technologies (NASDAQ: SOFI) Posts Record $1.2B Revenue in Q2 2026, Raises Full-Year Guidance

SoFi Technologies (NASDAQ: SOFI) reported record GAAP net revenue of $1.22 billion for the second quarter ended June 30, 2026, up 43% year-over-year, alongside GAAP net income of $156.6 million, a 61% increase from the prior-year period. GAAP diluted EPS of $0.12 exceeded the $0.11 analyst consensus estimate by 6.9%. The company also raised its full-year 2026 adjusted net revenue guidance to a range of $4.75 billion to $4.85 billion.

Q2 2026 Results

• GAAP net revenue: $1.22 billion, up 43% year-over-year from $854.9 million in Q2 2025
• Adjusted net revenue: $1.21 billion, up 40% year-over-year from $858.2 million
• Adjusted EBITDA: $357.8 million, up 44% year-over-year from $249.1 million, with a 30% adjusted EBITDA margin
• GAAP net income: $156.6 million, up 61% year-over-year; adjusted net income of $160.4 million, up 65% year-over-year
• Total loan originations: $14.8 billion, a record quarter, including record originations in Personal Loans, Student Loans, and Home Loans
• Members: 15.8 million at quarter-end, up 35% year-over-year, with 1.1 million new members added in the quarter
• Products: 24.4 million total, up 42% year-over-year, with a record 2.2 million products added during the quarter

What Drove the Results

GAAP diluted EPS of $0.12 beat the $0.11 consensus estimate. GAAP and adjusted EPS were both $0.12, compared to $0.08 in Q2 2025, a 50% year-over-year increase. Revenue, net income, and adjusted EBITDA all grew strongly in tandem, reflecting broad-based operating leverage across lending, financial services, and technology platform segments.

Net interest income of $788.2 million rose 52% year-over-year, driven by a 49% increase in average interest-earning assets and a 36 basis point decrease in cost of funds. Net interest margin of 5.98% increased 4 basis points sequentially from Q1 2026. Total fee-based revenue reached $472.3 million, representing 39% of total revenue in the quarter, up 22% from the prior quarter, supported by origination fees, Loan Platform Business revenue, interchange revenue, and brokerage fees.

A notable operational milestone: for the first time, SoFi added twice as many products as members in a single quarter. Products per member reached an all-time high of 1.54. Cross-buy accelerated, with 51% of new products opened by existing members, up from 43% in Q1 2026 and 35% in Q2 2025. Personal Loan originations totaled $10.7 billion, which included $3.1 billion from the Loan Platform Business. SoFi surpassed 200,000 paid SoFi Plus subscribers, and among existing members who added SoFi Plus, 25% subsequently opened another product. Tangible book value per share reached $7.34, up 56% year-over-year from $4.72.

During the quarter, SoFi also launched Composer by SoFi, an AI-powered investing platform, and Small Business Loans. On the enterprise side, the company completed the acquisition of Peach Finance to strengthen its SoFi Tech Solutions lending capabilities, and SoFiUSD began processing transactions on the SoFi Exchange Network for commercial clients.

Wall Street View

The company's Q2 results arrived after shares fell -0.83% on Tuesday, July 28, 2026, while the S&P 500 gained 0.24%, as investors awaited the earnings release. With full-year adjusted net revenue guidance now set at $4.75 billion to $4.85 billion, the updated outlook provides a concrete financial target for the remainder of 2026.

Investor Takeaway

SoFi's Q2 results mark the company's 19th consecutive quarter achieving the Rule of 40, with a score of 70, a threshold that combines revenue growth rate and adjusted EBITDA margin. The record product-to-member ratio of 2:1 in a single quarter, combined with the acceleration in cross-buy from 35% to 51% year-over-year, suggests that the company's strategy of deepening existing member relationships is producing measurable financial results beyond headline member growth alone.