Q3 2026 results
| Metric | Result | Change |
|---|---|---|
| Revenue | $1.4 billion | up 44% |
| Adjusted EPS | $0.18 | up 64% |
| Members | 17.1 million | up 35% |
| Total Products | 26.7 million | up 44% |
| Adjusted EBITDA | $470 million | up 70% |
Guidance and outlook
- 2026 Adjusted Net Revenue: $5.4 billion
- 2026 Adjusted EBITDA: $1.66 billion
- 2026 Adjusted Net Income: $840 million
- 2026 Adjusted EPS: $0.61
- 2027 Adjusted Net Revenue: $6.4 billion
- 2027 Adjusted EBITDA: $2.24 billion
- 2027 Adjusted Net Income: $1.28 billion
- 2027 Adjusted EPS: $0.90
How management sounded
Positive (+7 on our -10 to +10 scale). Management raised full-year 2026 guidance and provided 2027 outlook early, citing strong execution and visibility despite a volatile rate environment. Management sounded more upbeat than on 48% of the 190 calls we cover; most companies sound positive on their own calls, so the comparison says more than the label.
Q&A summary
SMB Lending
Asked: John Hecht from Jefferies asked about the target market and prioritization of SMB lending.
Answer: Anthony Noto explained it is a nascent, startup-stage business that they are investing in to build relationships and unit economics, not yet one of the 8 core businesses.
2027 Outlook
Asked: Kyle Joseph from Stephens asked for segment contributions to the 2027 outlook.
Answer: Chris Lapointe expects lending to grow 25%, tech platform to grow 25%, and financial services to grow 35% year-over-year.
ARPU and TAM
Asked: Andrew Jeffrey from William Blair asked about TAM and ARPU trends.
Answer: Anthony Noto clarified they focus on revenue per product, noting that while weighted average revenue per product may decline due to mix, total product growth will drive long-term value.
Funding 2027
Asked: Dan Dolev from Mizuho asked about funding 2027 growth organically.
Answer: Chris Lapointe stated they have $29 billion of risk-weighted asset capacity through existing excess capacity and organic capital creation from earnings.
Personal Loan Pricing
Asked: William L. from Goldman Sachs asked about pricing evolution in personal loans.
Answer: Chris Lapointe noted that origination fees are increasingly important, with over 50% of new loans including them, which improves risk-adjusted returns.
What to watch before the next call
- SoFi Plus member growth targets and product adoption.
- Performance of the Technology Platform segment as it transitions clients.
- Impact of interest rate changes on loan origination mix and net interest margin.
