Slide 1: Q4'20 Summary Results
Q4’20 Summary Results March 2021
Slide 2: Disclaimer
Disclaimer Additional Information and Where to Find It This communication relates to a proposed transaction between Social Finance Inc. (“SoFi”) and Social Capital Hedosophia Holdings Corp. V (“Social Capital”). This communication does not constitute an offer to sell or exchange, or the solicitation
Slide 3: Members
Members Unique Members (1) in thousands 6 Consecutive Quarters of Accelerating YoY Growth YoY Growth 37% 50% 54% 59% 74% 90% Note: See “Footnotes” section for detailed footnotes and definitions © 2020 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offered
Slide 4: Products
Products (2) (2) Total Products (000s) Financial Services Products (000s) Note: See “Footnotes” section for detailed footnotes and definitions © 2020 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered th
Slide 5: 2020 Non-GAAP Results vs. Investor Guidance
2020 Non-GAAP Results vs. Investor Guidance 2020 Adj net revenue of $621M was in line with plan & included the negative impact to Q4’20 revenue of $19M due to corporate interest expense (primarily related to the Galileo seller note which was paid back in February 2021) & a $4M write-down related to
Slide 6: Adjusted Net Revenue
Adjusted Net Revenue $621M of FY 2020 & $182M of Q4’20 Adj. Net Revenue which includes the Q4’20 negative impact of $23M related to interest on corp debt & Apex Clearing exercising its option to call our equity investment (3) (3) Annual Adjusted Net Revenue ($000s) Quarterly Adjusted Net Revenue ($0
Slide 7: Adjusted EBITDA
Adjusted EBITDA 2nd consecutive quarter of positive EBITDA and $100M improvement YoY (5) (5) Annual Adjusted EBITDA ($000s) Quarterly Adjusted EBITDA ($000s) +$105M +$113M YoY YoY Note: See “Footnotes” section for detailed footnotes and definitions. The sum of individual metrics may not always equal
Slide 8: Reiterating 2021 Non-GAAP Guidance
Reiterating 2021 Non-GAAP Guidance Despite not having $12M of previously anticipated FY 2021 revenue from Apex ($3M per quarter) as well as the additional negative impact of $5M from corporate interest expense primarily related to the Galileo seller note in Q1’21, we reiterate our 2021 guidance (3)
Slide 9: Q1 2021 Non-GAAP Guidance
Q1 2021 Non-GAAP Guidance Expect to grow 120-126% YoY and deliver $190-195M of Adjusted Net Revenue and $(5) - 1M of Adjusted EBITDA. Adjusted net revenue guidance includes the negative impact of $5M from corporate interest expense primarily related to the Galileo seller note and $0 in revenue from
Slide 10: Financial Supplement
Financial Supplement 10
Slide 11: Company Metrics
Company Metrics (1) (2) (2) (2) Note: See “Footnotes” section for detailed footnotes and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2020 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offered
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures (6) (7) (8) $182M of Q4’20 Adjusted Net Revenue which includes the negative impact of $23M related to interest on corp debt & Apex Clearing exercising its option to call our equity investment Note: See “Footnotes” section for detailed footnotes and definitions. The sum of
Slide 13: Segment Financials
Segment Financials (2) (3) (9) (4) (9) (4) (2) (9) (4) Note: See “Footnotes” section for detailed footnotes and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2020 Social Finance, Inc. Confidential Information. Do not copy or distribute. Ad
Slide 14: Select Balance Sheet Information
Select Balance Sheet Information (10) (10) (11) (10) (10) (10) (13) (12) (14) Note: See “Footnotes” section for detailed footnotes and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2020 Social Finance, Inc. Confidential Information. Do not
Slide 15: Non-GAAP Financial Measure Reconciliations
Non-GAAP Financial Measure Reconciliations 15
Slide 16: Non-GAAP Reconciliations
Non-GAAP Reconciliations (6) (7) (8) (15) (16) (12) (17) (18) (6) (7) Note: See “Footnotes” section for detailed footnotes and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2020 Social Finance, Inc. Confidential Information. Do not copy or
Slide 17: Footnotes
Footnotes 17
Slide 18: Footnotes
Footnotes (1) We define a member as someone who has a lending relationship with us through origination or servicing, opened a financial services account, linked an external account to our platform, or signed up for our credit score monitoring service. Once someone becomes a member, they are always c
Slide 19: Footnotes
Footnotes (6) Reflects changes in fair value inputs and assumptions, including market servicing costs, conditional prepayment and default rates and discount rates. This non-cash change is unrealized during the period and, therefore, has no impact on our cash flows from operations. As such, these pos
Slide 20: Footnotes
Footnotes (10) Financial statement line items include amounts in consolidated variable interest entities (“VIEs”). (11) As of December 31, 2020, includes loans measured at fair value of $4,859,068 and loans measured at amortized cost of $20,235. All loans as of December 31, 2019 are measured at fair