SoFi Technologies Posts Record Q1 2025 Net Revenue of $772 Million as Membership Tops 10.9 Million

SoFi Technologies reported first-quarter 2025 net revenue of $771.8 million, a 20 per cent increase year-over-year (adjusted net revenue rose 33 per cent to $770.7 million) and another quarterly record for the San Francisco-based digital financial services company. Net income for the period came in at $71.1 million.

Total membership reached 10.9 million at the close of the quarter, a 34 per cent rise compared with the same period a year earlier.

SEGMENT RESULTS

Financial Services segment net revenue more than doubled to $303.1 million, while Technology Platform revenue rose 10 per cent to $103.4 million. SoFi's technology platform provides banking infrastructure and financial services capabilities to third-party clients.

SoFi Bank, the deposit-taking subsidiary that underpins the group's lending operations, reported total deposits of $27.3 billion at quarter-end.

PRODUCTS

SoFi's products include personal loans, home loans, student loan refinancing, credit cards, investment products, and checking and savings accounts.