SoFi reports Q2 net revenue of $599M, net income of $17M; third consecutive GAAP profitable quarter

SoFi Technologies, Inc.

2024-Q2 EPS reported $0.03 revenue$236,391,000

GAAP net income $17.4M vs loss of $47.5M a year ago; diluted EPS $0.01 vs ($0.06).
Adjusted net revenue $597M, up 22% YoY; adjusted EBITDA $138M, up 80% YoY.
Financial Services and Tech Platform segments grew revenue 46% combined, now 45% of adjusted net revenue.
Members grew 41% YoY; management raised FY24 guidance on strong momentum.
Lending segment grew only 5% YoY, reflecting conservative stance amid rate environment.

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