Slide 1: Q2 2021 Summary Results
Q2 2021 Summary Results August 2021
Slide 2: Disclaimer
Disclaimer Use of Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures (including on a forward-looking basis) such as Adjusted Net Revenue, Adjusted EBITDA and Adjusted EBITDA Margin. These non-GAAP measures are an addition to, and not a substitute for or superi
Slide 3: SoFi's Mission
SoFi's Mission To help our members (HENWS) achieve financial independence to realize their ambitions Note: HENWS stands for High Earners not Well Served who represent a significant portion of SoFi’s member base. ©2021 Social Finance, Inc. 3
Slide 4: Members
Members 8 Consecutive Quarters of Accelerating YoY Growth Members (1) in thousands YoY Growth 37% 50% 54% 59% 74% 90% 110% 113% Note: See “Footnotes” section for detailed footnotes and definitions © 2021 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered t
Slide 5: Products
Products Continued accelerating YoY growth in Products up 123% to 3.7M products (+2M YoY) Products (2) in thousands YoY Growth 71% 85% 89% 101% 113% 121% 123% Note: See “Footnotes” section for detailed footnotes and definitions © 2021 Social Finance, Inc. Advisory services offered through SoFi Wealt
Slide 6: Galileo Accounts
Galileo Accounts Reached 79M accounts (+119% YoY Growth) Galileo Accounts (3) in millions +100% YoY growth last four quarters YoY Growth 23% 30% 62% 75% 83% 130% 135% 130% 119% Note: See “Footnotes” section for detailed footnotes and definitions © 2021 Social Finance, Inc. Advisory services offered
Slide 7: Lending and Financial Services Products
Lending and Financial Services Products Growth in products and members driven by Financial Services Products, which reached 2.7M (+243% or 1.9M YoY) Lending Products (000s): +14% YoY to 981K Financial Services Products (000s): 243% YoY Growth YoY Growth 25% 25% 21% 19% 15% 12% 14% YoY Growth 661% 46
Slide 8: Q2 2021 Financial Review
Q2 2021 Financial Review 8
Slide 9: Quarterly Performance
Quarterly Performance Record Adjusted Net Revenue of $237M (74% YoY Growth) and 4th consecutive quarter of positive Adjusted EBITDA of $11M (+$35M YoY) (4) (6) Quarterly Adjusted Net Revenue ($M) Quarterly Adjusted EBITDA ($M) +74% YoY +$35M YoY Note: See “Footnotes” section for detailed footnotes a
Slide 10: Annual Performance
Annual Performance LTM Adjusted Net Revenue of $852M and Adjusted EBITDA of $60M (3) (4) (6) Annual Adjusted Net Revenue ($M) Annual Adjusted EBITDA ($M) LTM adjusted net revenue includes the negative impact of (1) $30M of interest expense on $61 corporate borrowings primarily related to the Galileo
Slide 11: Q2'21 Non-GAAP Results vs. Guidance
Q2’21 Non-GAAP Results vs. Guidance Exceeded Adj. Net Revenue and Adj. EBITDA Q2 2021 guidance Q2’21 Adj net revenue was $237M vs. Investor guidance of $215-220M, representing a $17-22M OR 8-10% beat. Adjusted EBITDA was $11M vs. Investor guidance of -$8M to +$2M, representing a $19M beat to the low
Slide 12: Our Operating Segments
Our Operating Segments Lending Technology Platform Financial Services Student Loan Refi Galileo SoFi Invest Personal Loans SoFi Money Home Loans SoFi Credit Card In School Loans Lantern Relay Protect At Work ECM and Advisory Services Note: See “Footnotes” section for detailed footnotes and definitio
Slide 13: Q3 2021 Non-GAAP Guidance
Q3 2021 Non-GAAP Guidance Expect continued strong growth with $245-255M of Adjusted Net Revenue and $(7) - 3M of Adjusted EBITDA despite the fact that the moratorium on federal student loan payments is not ending on September 30, 2021 as originally anticipated Note: See “Footnotes” section for detai
Slide 14: Reiterating 2021 Non-GAAP Guidance
Reiterating 2021 Non-GAAP Guidance We reiterate our original 2021 full year guidance despite the impact of the unanticipated extension of CARES Act moratorium of federal student loan payments (estimated $40M revenue impact) and not having $12M of previously anticipated revenue from our equity invest
Slide 15: Financial Supplement
Financial Supplement 15
Slide 16: 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. © 2021 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered thro
Slide 17: Segment Financials
Segment Financials (2) (4) (10) (5) (10) (5) (2) (10) (5) Note: See “Footnotes” section for detailed footnotes and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2021 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. S
Slide 18: Non-GAAP Financial Measures
Non-GAAP Financial Measures (7) (8) (9) Note: See “Footnotes” section for detailed footnotes and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2021 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offe
Slide 19: Non-GAAP Reconciliations
Non-GAAP Reconciliations (7) (8) (9) (11) (12) (13) (7) (8) Note: See “Footnotes” section for detailed footnotes and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2021 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC.
Slide 20: Footnotes to Financial Statements
Footnotes to Financial Statements 20
Slide 21: 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 22: Footnotes
Footnotes (7) 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 23: Footnotes
Footnotes (11) Impairment expense includes primarily software abandonment and fixed asset abandonment. (12) Transaction-related expenses include certain costs, such as financial advisory and professional services costs, associated with our acquisitions of Galileo and 8 Limited for full year 2020 and