SoFi Q3 2023: adjusted net revenue $531M (+27% YoY), record adj. EBITDA $98M, raises FY guidance

SoFi Technologies, Inc.

2023-Q3 EPS reported -$0.40 revenue$305,119,000

GAAP net revenue $537M (+27% YoY); GAAP EPS loss $0.29 includes $247M goodwill impairment; ex-impairment EPS loss $0.03.
Adjusted net revenue $531M (+27% YoY); Adjusted EBITDA $98M (+121% YoY) with 18% margin.
New member adds 717k (record); total members 6.9M (+47% YoY); total products 10.4M (+45% YoY).
Deposits grew $2.9B sequentially to $15.7B; net interest margin expanded to 5.99%.
Management raises full-year 2023 guidance; expects positive GAAP net income in Q4 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SoFi Technologies, Inc. updated its three and nine months ended September 30, 2023 guidance (raised).

Period: three and nine months ended September 30, 2023
Guidance: raised
Result: reported results

Exact text from the filing

On October 30, 2023, SoFi Technologies, Inc. issued a press release reporting its financial results for the three and nine months ended September 30, 2023. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

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Source: SEC EDGAR

accession 0001818874-23-000165

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