SoFi Q4 GAAP net income $48M, revenue up 35% YoY to $615M

SoFi Technologies, Inc.

2023-FY EPS reported -$0.36 revenue$421,454,000

Q4 GAAP net income $47.9M ($0.02 diluted EPS) vs loss of $40.0M year ago; FY net loss $300.7M.
Adjusted net revenue $594M (+34% YoY); record adjusted EBITDA $181M (+159% YoY), 30% margin achieved.
Added 585k new members (total 7.5M, +44% YoY) and 695k new products (total 11.1M, +41% YoY).
Total deposits grew $2.9B to $18.6B; tangible book value increased $204M in quarter, $334M for FY.
Non-lending segments (Tech Platform & Financial Services) contributed 40% of Q4 adjusted net revenue.

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 0.95

SoFi Technologies, Inc. reported the fourth quarter and fiscal year ended December 31, 2023 results: revenue $615 million GAAP Net Revenue, net income $48 million GAAP Net Income, EPS GAAP EPS of $0.02.

Period: the fourth quarter and fiscal year ended December 31, 2023
Revenue: $615 million GAAP Net Revenue
Net income: $48 million GAAP Net Income
EPS: GAAP EPS of $0.02
Result: reported results

Exact text from the filing

(EX-99.1) --- SOFI TECHNOLOGIES, INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2023 RESULTS Accelerating Revenue Growth, Expanding Margins and GAAP Profitability Fourth Quarter $615 Million GAAP Net Revenue Up 35% Year-over-Year; $594 Million Adjusted Net Revenue Up 34% Year-over-Year Record Fourth Quarter Adjusted EBITDA of $181 Million Up 159% Year-over-Year, 30%

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accession 0001818874-24-000004

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