SoFi revenue up 41% year-over-year

SoFi is a digital bank and lending platform, but the real story right now is scale. On April 29, 2026, the company posted first-quarter results that were genuinely big — $1.1 billion in adjusted net revenue, up 41% from a year earlier, with net income of $167 million. Member growth stayed hot too, up 35% to 14.7 million. That matters because SoFi has spent years trying to prove it is more than a student-loan refi brand, and these numbers say the broader platform is working. ### What actually happened? SoFi’s Q1 2026 print was a record quarter across most of the headline lines. Adjusted net revenue hit $1.1 billion. Adjusted EBITDA reached $340 million, up 62%. Loan originations climbed to a record $12.2 billion. So this was not a “one good metric, one bad metric” kind of release — it was broad strength. Why are people focused on the 41% number? Because 41% revenue growth at SoFi’s current size is the part that changes the conversation. Fast growth is common when a company is tiny. It is harder when revenue is already above $1 billion a quarter. The catch is that some headlines cite 43% growth, which refers to GAAP net revenue, while the 41% figure is for the same quarter. ### Was this just lending again? Not really. Lending is still central, but SoFi keeps pushing the idea that the ecosystem matters more than any single product. It added 1.055 million members in the quarter and 1.8 million products, taking total products to 22.2 million. That product count grew 39% year over year — faster than members — which is what you want to see instead of showing up for one loan and leaving. ### Why does member growth matter so much? Because SoFi’s model gets stronger when acquisition turns into repeat usage. Management said 43% of new product additions came from existing members, up from 36% a year earlier. Think of it like a gym finally getting members to use the pool, classes, and personal training — not just the treadmill. Each extra product can make the customer stickier and cheaper to serve. ### If the quarter was strong, why did the stock wobble? Turns out a beat is not always enough. Investors had already bid up expectations, and SoFi reaffirmed rather than sharply raised full-year guidance. That cautious stance seemed to frustrate traders looking for another step-up after a record quarter, and the shares sold off after trading enough.” ### What is SoFi trying to prove now? That it can be both a growth company and a profitable one. Net income more than doubled from the year-ago quarter, and this was SoFi’s latest quarter of positive GAAP earnings. For a fintech that used to be judged mostly on member adds and adjusted metrics, that shift matters. The company wants investors to see a scaled digital bank with operating leverage — not a forever-story stock. ### What should investors watch next? Watch whether member growth stays