SoFi posts first $1 billion revenue quarter as profit reaches $174 million in Q4 amid crypto expansion
SoFi achieved its first $1 billion revenue quarter in Q4 with $174 million in profit, alongside significant crypto initiatives.Summary
Fintech firm SoFi Technologies reported its first quarter with over $1 billion in revenue, reaching $1.013 billion in adjusted net revenue, a 37% year-over-year increase, alongside a GAAP net income of $173.5 million for Q4. This marked their ninth consecutive profitable quarter. The company saw record growth in members (1.027 million added) and products (1.6 million added), with financial services products driving significant expansion. Concurrently, SoFi advanced its digital asset strategy by becoming the first nationally chartered bank to launch consumer crypto trading and issue its own stablecoin, SoFiUSD, on a public blockchain for 24/7 settlement infrastructure. They also expanded blockchain-enabled international remittances, initially using the Bitcoin Lightning Network, to over 30 countries. SoFi provided guidance expecting at least 30% membership growth in 2026.
(Source：The Block)