TLDR
- SoFi welcomed 1.2 million new members during Q3, expanding its total member count to 17.1 million.
- Revenue per Financial Services product dropped to $90 compared to $104 in the same quarter last year.
- The company’s total product offerings surged 44% year over year to reach 26.7 million.
- Adjusted revenue for the quarter jumped 44% to $1.4 billion, with adjusted net income gaining 74%.
- The company elevated its 2026 adjusted revenue guidance to $5.04 billion and announced a $6.4 billion target for 2027.
SoFi Technologies, Inc. (SoFi) stock experienced contrasting signals following the company’s third-quarter earnings announcement on Tuesday. While the fintech firm achieved record membership expansion with 1.2 million new customers reaching a 17.1 million total, annualized revenue per Financial Services product tracked below the prior year’s benchmark.
The company expanded its product portfolio by 2.2 million offerings during the three-month period. Total products climbed to 26.7 million, representing a 44% year-over-year increase. With membership advancing 35%, the data reveals product adoption outpaced new customer acquisition.
Financial Services Product Revenue Stands at $90 Annually
The annualized Financial Services revenue per product came in at approximately $90, representing a decline from the $104 recorded in the corresponding quarter last year, though showing improvement from the second quarter’s $88 figure. This metric encompasses savings accounts, investment platforms, credit cards and additional services, measured per product rather than per individual customer.
A recent report on Mastercard’s stablecoin plans identified SoFiUSD among the payment company’s proposed settlement options. The report said wider access remains subject to regulatory requirements.
Revenue from Financial Services operations climbed 25% to reach $525.1 million. The product count advanced to 23.2 million, marking a 44% increase. Products per member expanded to 1.56 from the previous 1.47 ratio. Current customers accounted for 51% of all new product openings throughout the quarter. The contribution margin for Financial Services registered at 50%, reflecting a four-percentage-point decrease compared to the same period last year.
Transaction Activity and Loan Origination Drive Growth
Payment processing and investment services delivered enhanced fee income. The company reported interchange revenue from customer transactions surged 77% on a year-over-year basis. Brokerage fees advanced 47%, while annualized customer spending through SoFi Money and credit card products touched $31 billion.
A report on Circle’s revenue outlook described how analysts considered SoFi savings accounts as an alternative to stablecoins. The research concerned Circle’s business, not SoFi’s earnings.
Loan originations totaled $16.9 billion across all categories. Adjusted lending revenue increased to $807.4 million. Adjusted revenue per lending product expanded to $942 from $782 in the year-ago period, demonstrating opposite momentum compared to the Financial Services metric.
Deposit Base Expansion and Updated Revenue Projections
The company closed September with $51.3 billion in customer deposits, reflecting a $5.8 billion quarterly increase. Other financial institutions reported varying deposit patterns. Bank of Hawaii’s latest earnings report showed deposits falling 3.3% during the first nine months of 2026.
SoFi stock shareholders observed adjusted quarterly revenue advance 44% to $1.4 billion while adjusted net income expanded 74% to $243 million. Leadership increased the 2026 adjusted revenue forecast to $5.04 billion and established a $6.4 billion projection for 2027. The company’s forward guidance did not specify revenue-per-product expectations.
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