SoFi Q1 net income $88M, second straight GAAP profit; adj revenue up 26% YoY

SoFi Technologies, Inc.

2024-Q1 EPS reported $0.02 revenue$115,609,000

GAAP net income $88M vs loss $34M Q1 2023; diluted EPS $0.02.
Total net revenue $645M (+37% YoY); adjusted net revenue $581M (+26%).
Adjusted EBITDA $144M (+91%), margin 25%; all three segments contribution profitable.
Tech Platform & Financial Services combined rev grew 54%, now 42% of adj revenue.
Management raises FY 2024 guidance (specific numbers not disclosed in excerpt).

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. reported the three months ended March 31, 2024 results: revenue $644,995, net income $88,043, EPS $0.08. Guidance raised.

Period: the three months ended March 31, 2024
Revenue: $644,995
Net income: $88,043
EPS: $0.08
Guidance: raised
Result: reported results

Exact text from the filing

16% sequentially." Consolidated Results Summary Three Months Ended March 31, % Change ($ in thousands, except per share amounts) 2024 2023 Consolidated – GAAP Total net revenue $ 644,995 $ 472,158 37 % Net income (loss) 88,043 (34,422) n/m Net income (loss) attributable to common stockholders – basic 77,964 (44,390) n/m Net income (loss) attributable to common

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Source: SEC EDGAR

accession 0001818874-24-000115

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