Slide 1: Q4 & FY 2023 Summary Results
Q4 & FY 2023 Summary Results January 2024
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, Tangible Book Value and adjusted loss per share. These non-GAAP measures are i
Slide 3: 2023 Year in Review
2023 Year in Review SoFi Awarded 5 SoFi Launches SoFi at Work SoFi is Named to SoFi Invest Banking and 2 PL SoFi Money Offers SoFi Travel Launches CNBC World’s Top Offers ARM and Awards in Up to $2M in FDIC Powered by Student Loan Fintech CART IPOs to SoFi Invest launches NerdWallet’s 2023 Insurance
Slide 4: Members
Members New Member Additions of 585K in Q4, bringing total to over 7.5M (+44% YoY) (1) Members in thousands New Members (000s) 430 279 377 523 408 450 424 480 433 584 717 585 YoY Growth 110% 113% 96% 87% 70% 69% 61% 51% 46% 44% 47% 44% Note: See “Footnotes” section for detailed explanations and defi
Slide 5: Products
Products New Product Additions of 695M in Q4, Bringing Total to 11.1M (+41% YoY) Products (2) in thousands New Products (000s) 661 482 601 905 689 702 635 695 660 847 1,047 695 YoY Growth 121% 123% 108% 105% 84% 79% 69% 53% 46% 43% 45% 41%* * YoY Growth in Products was 45% when when adjusted to excl
Slide 6: Galileo Accounts
Galileo Accounts Accounts Total 145M (+11% YoY) Galileo Accounts (3)(15) in millions YoY Growth 132% 119% 81% 67% 58% 48% 40% 31% 15% 11% 10% 11% Note: See “Footnotes” section for detailed explanations and definitions © 2022 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoF
Slide 7: Lending and Financial Services Products
Lending and Financial Services Products Growth in products & members driven by Financial Services products, which reached over 9.4M (+45% YoY) Lending Products(2) (000s): +24% YoY to 1.6M Financial Services Products(2) (000s): +45% YoY to 9.4M YoY Growth 18% 20% 23% 24% 24% 24% 25% 24% 24% YoY Growt
Slide 8: Financial Services Productivity Loop
Financial Services Productivity Loop FSPL has reached an inflection point, which creates marketing efficiencies and improves xBuy Ratio of Financial Services to Lending Products Q4’23 Total Fin Serv Products Total Lending Products Total: 11,142K Money: 3,374K Q4’22 5.7x Relay: 3,337K Total: 7,895K I
Slide 9: Q4 2023 Financial Review
Q4 2023 Financial Review 9
Slide 10: Quarterly Performance
Quarterly Performance Record Adjusted Net Revenue of $594M (34% YoY Growth) and record Adjusted EBITDA of $181M (at 30% Margin) (4) (6) Quarterly Adjusted Net Revenue ($M) Quarterly Adjusted EBITDA ($M) YoY Growth 51% 58% 43% 37% 27% 34% EBITDA Margin 11% 16% 16% 16% 18% 30% Note: See “Footnotes” se
Slide 11: Annual Performance
Annual Performance 2023 Adjusted Net Revenue of over $2B and Adjusted EBITDA of $432M (3) (4) (6) Annual Adjusted Net Revenue ($M) Annual Adjusted EBITDA ($M) YoY Growth 38% 63% 52% 35% EBITDA Margin (7)% 3% 9% 21% Note: See “Footnotes” section for detailed explanations and definitions. The sum of i
Slide 12: FY 2023 Non-GAAP Results vs Guidance
FY 2023 Non-GAAP Results vs Guidance FY 2023 Adj. Net Revenue was $2.07B vs guidance of $2.045-2.065B, representing a $9M beat at the high end Adj. EBITDA was $432M vs. guidance of $386-396M, representing a $36M beat at the high end FY 2023 GUIDANCE VARIANCE TO GUIDANCE $ in millions 2023 Low High L
Slide 13: Q1'24 Non-GAAP Guidance
Q1’24 Non-GAAP Guidance We expect to deliver $550-560M in Adjusted Net Revenue, $110-120M in Adjusted EBITDA and $10-20M in GAAP Net Income (4) (6) See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rou
Slide 14: FY 2024 Guidance
FY 2024 Guidance We expect to deliver: ● Tech Platform and Financial Services growth of 50% or more versus 2023 levels ● Lending segment at 92-95% of 2023 revenue levels ● GAAP Net Income of $95 - $105 million ● Adjusted EBITDA of $580-590 million ● EPS of $0.07 - $0.08 cents ● $300 - 500M of Tangib
Slide 15: FY 2024 Guidance
FY 2024 Guidance See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2022 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securitie
Slide 16: Financial Supplement
Financial Supplement 16
Slide 17: Company Metrics
Company Metrics (1) (2) (2) (2) Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2022 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered t
Slide 18: Segment Financials
Segment Financials (2) (4) (10) (5) (3) (15) (10) (5) (2) (10) (5) Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2022 Social Finance, Inc. Advisory services offered through SoFi W
Slide 19: Non-GAAP Financial Measures
Non-GAAP Financial Measures (7) (8) (19) (4) (4) (4) (4) (9) (6) (20) Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2022 Social Finance, Inc. Advisory services offered through SoF
Slide 20: Non-GAAP Reconciliations
Non-GAAP Reconciliations (7) (8) (19) (4) (9) (11) (13) (12) (14) (7) (8) (19) (20) (6) Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2022 Social Finance, Inc. Advisory services o
Slide 21: Net Interest Margin Components
Net Interest Margin Components Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2022 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered th
Slide 22: Fair Value of Loans
Fair Value of Loans Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2022 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money® is offered through SoFi
Slide 23: Adjusted Loss Per Share Reconciliation
Adjusted Loss Per Share Reconciliation (16) (18)(21) (16) (18) (21) (16) (18 (21) (16)(18 (21) Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. © 2022 Social Finance, Inc. Advisory ser
Slide 24: Select Balance Sheet Information
Select Balance Sheet Information Note: 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 through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS
Slide 25: Footnotes to Financial Statements
Footnotes to Financial Statements 25
Slide 26: Footnotes
Footnotes (1) We define a member as someone who has a lending relationship with us through origination and/or ongoing servicing, opened a financial services account, linked an external account to our platform, or signed up for our credit score monitoring service. Our members have continuous access t
Slide 27: Footnotes
Footnotes (9) Our adjusted EBITDA measure adjusts for corporate borrowing-based interest expense, as these expenses are a function of our capital structure. Corporate borrowing-based interest expense primarily includes (i) interest on our revolving credit facility, (ii) amortization of debt discount