Sofi Technologies, Inc. · NASDAQ:SOFI
Sofi Technologies — Q2 2026 Earnings Presentation
57 slides from Sofi Technologies's earnings presentation, Jul 29, 2026
Slide 1: Investor Presentation Q2 2026
Investor Presentation Q2 2026 July 2026
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, Adjusted EBITDA Margin, Adjusted EPS, ROTCE, Adjusted Net Income, Adjusted Net Income Margin, Adjusted No
Slide 3: Highlights Q2 2026
Highlights Q2 2026 Durable Growth and Strong Returns Product Innovation and Brand Building • Record Adjusted Net Revenue of $1.2B (+40% YoY) • Record Member and Product Growth: SoFi set new records by adding 1.1M new members and 2.2M new products, marking the first time product growth doubled member
Slide 4: Durable Growth & Strong Returns through Continuous Innovation & Brand Building
Delivering Durable Growth & Strong Returns through Continuous Innovation & Brand Building © 2026 Social Finance, Inc. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 4
Slide 5: Continuous Innovation
Continuous Innovation A diversified, digital financial services platform built through a relentless focus on innovation © 2026 Social Finance, Inc. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 5
Slide 6: Everything App for Digital Financial Services
Everything App for Digital Financial Services The only digital-first platform with a mission-based strategy to help members realize their ambitions Get Your Money Right SoFi has developed a suite of financial products that offers the speed, selection, content and convenience that only an integrated
Slide 7: Brand Building
Brand Building SoFi’s position as a market leader is driving record engagement and scale Unaided Brand Awareness 2026 Accolades 1 2.3x Increase 9.6% 10.4% U.S. Bank in Forbes’ World’s Best Banks # 7.2% 1 5.5% JD Power 2026 U.S. Investor Satisfaction 4.5% # Study for DIY Investing 2022 2023 2024 2025
Slide 8: Financial Services Productivity Loop (FSPL)
Financial Services Productivity Loop (FSPL) Generating the highest lifetime value of members is a sustainable competitive advantage • Tremendous opportunity with digitally-oriented generations, who comprise half of the American population • Brand awareness brings new members into the Financial Servi
Slide 9: Rule of 40
Rule of 40 SoFi is built to consistently deliver a unique combination of growth and returns Rule of 40 74 • Consistently exceeded the Rule of 40 for 73 72 over four and a half years, achieving an 68 70 65 67 average score of 60% 62 16% 59 60 • Delivered consistent performance across 55 56 57 53 29%
Slide 10: Durable Growth & Strong Returns
Durable Growth & Strong Returns Driving 30%+ growth and strong returns by addressing huge opportunities for existing and new businesses Adjusted Net Revenue ($ in millions) (2) Adjusted Earnings Per Share (3)* Growth Opportunities 30% CAGR 38% - 42% CAGR 2025 - 2028 2025 - 2028 • Continued growth ac
Slide 11: Path to generating ROTCE in the 20% to 30% range
Path to generating ROTCE in the 20% to 30% range SoFi’s business strategy is driving the company towards its target long-term returns 1 2 NET INCOME MARGIN REVENUE TO EQUITY RETURN ON TANGIBLE 1• Net income margins will expand as RATIO COMMON EQUITY businesses mature and higher-margin businesses are
Slide 12: Initiatives to Fuel Continued Durable Growth
Initiatives to Fuel Continued Durable Growth SoFi is bringing the strength of a nationally licensed bank to the forefront of digital financial services Big Business SoFi Tech Small Business SoFi Crypto SoFi Pay SoFiUSD SoFi Coach Banking Solutions Loans Launched Q4’25 Launched Q4’25 Launched Q4’25 L
Slide 13: Financial Performance Q2 2026
Financial Performance Q2 2026
Slide 14: Members and Products
Members and Products Products grew 2x the pace of members driven by the Financial Services Productivity Loop Members (in thousands) (1) Products (in thousands) (4) Products Per Member CAGR: 37% CAGR: 38% 15,814 24,381 1.54 13,651 20,168 1.51 10,127 14,745 1.48 7,542 11,142 1.47 1.46 5,223 7,895 2022
Slide 15: Durable Growth
Durable Growth SoFi’s diversified business model is built to provide strong growth through different environments Adjusted Net Revenue ($ in millions) (2) Adjusted EBITDA ($ in millions) (6) Adjusted Net Income ($ in millions) (7)* 2026 Guidance 2026 Guidance 2026 Guidance $4,750 - $4,850 ~$1,600 ~$
Slide 16: Cash Revenue
Cash Revenue SoFi is consistently generating high-quality cash revenue in line with total revenue Cash Revenue ($ in millions) (8) 102% 105% • Cash revenue exceeded Adjusted Net Revenue 100% for the full year 2024 and full year 2025 90% • Q2 2026 cash revenue included: ◦ $790 million in cash revenue
Slide 17: Diversified Revenue
Diversified Revenue Returns continue to strengthen as the business scales; 11 consecutive profitable quarters Adjusted Net Revenue ($ in millions) (2) Fee-Based Revenue ($ in millions) Fee-Based Revenue Mix Tech Platform and Financial Services $1,992 $1,545 57% 61% 63% Q2 Q4 Q2 75% 73% $1,217 Annual
Slide 18: Long-Term Approach
Long-Term Approach Continued investment in innovation and brand building will drive long-term growth Adjusted EBITDA Margin (6) • Executing a deliberate strategy to balance near-term profitability with aggressive reinvestment, leveraging market dynamics to capture long-term share 30% • Demonstrating
Slide 19: Strong Returns
Strong Returns SoFi has delivered 11 consecutive profitable quarters Adjusted Earnings Per Share (3)* Tangible Book Value ($ in millions) (9) ROTCE (10) 2026 Guidance ~$0.60 8.0% 7.1% $9,470 $8,908 3.9% $0.39 $0.12 (2.8)% $0.15 $0.12 $4,894 $(0.10) $3,521 $3,245 (11.1)% $(0.40) 2022 2023 2024 2025 2
Slide 20: Financial Services Segment
Financial Services Segment Financial Services has driven 29% net revenue growth year-over-year, at strong margins Net Revenue ($ in millions) Contribution Margin and Profit ($ in millions) 29% net revenue year-over-year growth 28% noninterest income year-over-year growth 54% 29% net interest income
Slide 21: SoFi Lending Platform Capabilities
SoFi Lending Platform Capabilities Diversified lending capabilities serve more members while maximizing returns Scope • SoFi’s Lending Platform provides Economic Lending Balance Sheet P S H C optionality to hold loans on the balance SoFi Model Members Loans that fit our risk and return profile are r
Slide 22: Capital Markets Activity
Capital Markets Activity Regular loan sales and securitizations help manage the balance sheet Personal Loans • We executed $4.1 billion of personal 110% and home loan sales, inclusive of LPB in Q2 2026 • Consistent execution above the fair 108% 106.6% 106.2% 106.4% 106.5% value marks of loans held o
Slide 23: Lending Segment
Lending Segment Lending has delivered strong growth at a very attractive contribution margin Adjusted Net Revenue ($ in millions) (2) Contribution Margin and Profit ($ in millions) 59% year-over-year growth 61% $712 55% 56% 56% 54% $629 $138 $129 $481 $486 $447 $53 $42 $74 $382 $399 $573 $500 $428 $
Slide 24: Lending Originations
Lending Originations Continued opportunity to drive strong originations across loan types Personal Loans ($ in millions) Student Loans ($ in millions) Home Loans ($ in millions) $27,496 $5,538 $5,300 $3,389 $19,059 $2,618 $3,781 $2,687 $17,615 $13,801 $1,820 $2,630 $1,393 $10,718 $2,246 $9,774 $6,96
Slide 25: Consistent Credit Performance
Consistent Credit Performance Credit performance reflects strong underwriting capabilities and drives attractive risk-adjusted returns Net Charge-Offs (NCOs) • Leveraging a time-tested credit model that 5.4% underwrites to borrower cash flow, supported 5.0% by efficient digital data collection. 4.9%
Slide 26: Personal Loan Credit Performance
Personal Loan Credit Performance Outperformance of recent vintages over prior cohorts has widened for 8 consecutive quarters As of Q1’26 As of Q2’26 At 42% remaining unpaid principal, NCL is 4.05% for Q4’22-Q3’25 vintages vs. At 35% remaining unpaid principal, NCL is 4.68% for Q4’22-Q3’25 vintages v
Slide 27: Personal Loan Credit Performance
Personal Loan Credit Performance Performance is trending better than our underwriting tolerance Q1'20 - Q1'26 Origination & NCL Analysis Total Originations Q1'20 - Q1'26 $83.0B Remaining UPB on Total Originations Of the $83.0B of Q1’20-Q1’26 principal originated, 38% $31.5B remains outstanding Q1'20
Slide 28: Technology Platform Segment
Technology Platform Segment The Tech Platform gives clients the ability to create, launch, and run digital financial products In 2026, we launched a new, unified brand, SoFi Tech Solutions, offering enterprise clients products and services across a total of four platform businesses Processing — Bank
Slide 29: Funding and Net Interest Margin
Funding and Net Interest Margin SoFi’s strong member-driven funding base supports a stable net interest margin Funding Base Net Interest Margin • Since acquiring a bank license in 2022, we’ve grown deposits to $46B 5% 7% 11% • ~93% deposit funded 22% • Vast majority of deposits coming from durable d
Slide 30: Capital Ratios
Capital Ratios SoFi maintains strong levels of capital well above regulatory minimums SoFi Technologies as of Q2 2026 Required ($ in thousands) Amount (12) Ratio (12) Minimum(13) CET1 risk-based capital $9,112,891 18.7% 7.0% Tier 1 risk-based capital $9,112,891 18.7% 8.5% Total risk-based capital $9
Slide 31: Guidance
Guidance FY 2026 $ in millions, except per share amounts 2025 Actual FY 2026 Guidance Prior FY 2026 Guidance YoY Growth (%) YoY Growth (%) Adjusted net revenue (2) $3,591 $4,750 - $4,850 ~32% - 35% ~$4,655 ~30% Adjusted EBITDA (6) $1,054 ~$1,600 52% ~$1,600 52% Implied adj. EBITDA margin (6) 29% ~33
Slide 32: Financial Supplement
Financial Supplement
Slide 33: Company Metrics
Company Metrics FY 2024 FY 2025 FY 2026 (in 000’s) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Company Metrics Members (1) 8,132 8,774 9,373 10,127 10,916 11,746 12,642 13,651 14,706 15,814 QoQ % 7.8 % 7.9 % 6.8 % 8.1 % 7.8 % 7.6 % 7.6 % 8.0 % 7.7 % 7.5 % YoY % 43.8 % 40.6 % 34.7 % 3
Slide 34: Segment Financials
Segment Financials FY 2024 FY 2025 FY 2026 (in 000’s) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Lending Segment Student Loan Originations $ 751,680 $ 736,518 $ 943,584 $ 1,348,970 $ 1,191,463 $ 993,326 $ 1,491,724 $ 1,861,421 $ 2,613,708 $ 2,686,760 Personal Loan Originations 3,278
Slide 35: Segment Financials
Segment Financials Full Year (in 000’s) 2022 2023 2024 2025 Lending Segment Student Loan Originations $ 2,245,499 $ 2,630,040 $ 3,780,752 $ 5,537,934 Personal Loan Originations 9,773,705 13,801,065 17,614,985 27,495,534 Home Loan Originations 966,177 997,492 1,820,213 3,388,995 Total Originations $
Slide 36: Segment Financials
Segment Financials FY 2024 FY 2025 FY 2026 (in 000’s) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Lending Segment Net interest income $ 266,536 $ 279,212 $ 316,268 $ 345,210 $ 360,621 $ 372,675 $ 427,973 $ 444,763 $ 500,231 $ 573,298 Total noninterest income 63,940 61,493 79,977 72,5
Slide 37: Segment Financials
Segment Financials Full Year (in 000’s) 2022 2023 2024 2025 Lending Segment Net interest income $ 531,480 $ 960,773 $ 1,207,226 $ 1,606,032 Total noninterest income 608,511 409,848 277,996 242,917 Total net revenue 1,139,991 1,370,621 1,485,222 1,848,949 Adjusted net revenue - Lending (Non-GAAP) (2)
Slide 38: Net Interest Margin Components
Net Interest Margin Components FY 2024 FY 2025 FY 2026 (in 000’s) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Average Balances Total interest-earning assets $ 27,428,608 $ 28,484,764 $ 30,779,049 $ 31,670,474 $ 33,647,318 $ 35,420,276 $ 39,728,007 $ 42,781,269 $ 47,321,417 $ 52,859,4
Slide 39: Fair Value of Loans
Fair Value of Loans FY 2024 FY 2025 FY 2026 (in 000’s) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Personal Loans Unpaid principal $ 14,332,874 $ 15,040,190 $ 16,199,604 $ 16,589,623 $ 16,825,564 $ 18,416,674 $ 19,456,198 $ 20,243,217 $ 22,317,947 $ 26,101,759 Accumulated interest 11
Slide 40: 90+ Day Delinquencies
90+ Day Delinquencies FY 2024 FY 2025 FY 2026 (in 000’s) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Personal Loans Total Unpaid principal $ 14,332,874 $ 15,040,190 $ 16,199,604 $ 16,589,623 $ 16,825,564 $ 18,416,674 $ 19,456,198 $ 20,243,217 $ 22,317,947 $ 26,101,759 Unpaid principa
Slide 41: Select Balance Sheet Information
Select Balance Sheet Information Assets Liabilities and Equity $ in thousands Q2'26 Q2'26 Cash & cash equivalents $ 3,126,237 Revolving credit facility $ 486,000 Restricted cash & cash equivalents 439,322 Personal loan warehouse facilities 736,684 Investment Securities 4,225,652 Student loan warehou
Slide 42: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations FY 2024 FY 2025 FY 2026 (in 000’s) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Net Revenue (GAAP) $ 644,995 $ 598,618 $ 697,121 $ 734,125 $ 771,759 $ 854,944 $ 961,600 $ 1,025,051 $ 1,100,368 $ 1,218,676 Servicing rights - changes in FMV
Slide 43: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations Full Year (in 000’s) 2022 2023 2024 2025 Net Revenue (GAAP) $ 1,573,535 $ 2,122,789 $ 2,674,859 $ 3,613,354 Servicing rights - changes in FMV(16) (39,651) (34,700) (6,280) (22,013) Residual interests classified as debt - changes in FMV (17) 6,608 425 108
Slide 44: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations FY 2024 FY 2025 FY 2026 (in 000’s) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Non-GAAP Reconciliations Net Revenue (GAAP) $ 644,995 $ 598,618 $ 697,121 $ 734,125 $ 771,759 $ 854,944 $ 961,600 $ 1,025,051 $ 1,100,368 $ 1,218,676 Servicing
Slide 45: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations Full Year (in 000’s) 2022 2023 2024 2025 Non-GAAP Reconciliations Net Revenue (GAAP) $ 1,573,535 $ 2,122,789 $ 2,674,859 $ 3,613,354 Servicing rights - changes in FMV (16) (39,651) (34,700) (6,280) (22,013) Residual interests classified as debt - changes
Slide 46: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations FY 2024 FY 2025 FY 2026 (in 000’s) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Non-GAAP Reconciliations Net Revenue - Lending (GAAP) $ 330,476 $ 340,705 $ 396,245 $ 417,796 $ 413,373 $ 443,512 $ 493,382 $ 498,682 $ 642,420 $ 724,798 Servi
Slide 47: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations FY 2024 FY 2025 FY 2026 (in 000’s) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Non-GAAP Reconciliations Net Income (Loss) (GAAP) $ 88,043 $ 17,404 $ 60,745 $ 332,473 $ 71,116 $ 97,263 $ 139,392 $ 173,549 $ 166,731 $ 156,592 Income tax ben
Slide 48: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations Full Year (in 000’s) 2022 2023 2024 2025 Non-GAAP Reconciliations Net Income (Loss) (GAAP) $ (320,407) $ (300,742) $ 498,665 $ 481,320 Income tax benefit from release of tax valuation allowance — — (258,401) — Income tax benefit from restructuring — — (1
Slide 49: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations FY 2024 FY 2025 FY 2026 (in 000’s, except per share amounts) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Non-GAAP Reconciliations Numerator: Net income (loss) attributable to common stockholders — diluted (GAAP) $ 22,523 $ 7,954 $ 58,059
Slide 50: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations Full Year (in 000’s, except per share amounts) 2022 2023 2024 2025 Non-GAAP Reconciliations Numerator: Net income (loss) attributable to common stockholders — diluted (GAAP) $ (360,832) $ (341,167) $ 434,776 $ 482,700 Non-GAAP adjustments: Income tax ben
Slide 51: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations Full Year FY 2025 FY 2026 (in 000’s, except per share amounts) 2022 2023 2024 2025 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Non-GAAP Reconciliations Numerator: Net income (loss) attributable to common stockholders — diluted (GAAP) $ (360,832) $ (341,167) $ 43
Slide 52: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations FY 2024 FY 2025 FY 2026 (in 000’s, except per share data) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Non-GAAP Reconciliations Total permanent equity (GAAP) $ 5,825,605 $ 5,901,494 $ 6,121,481 $ 6,525,134 $ 6,678,514 $ 6,860,580 $ 8,779,9
Slide 53: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations Full Year FY 2025 FY 2026 (in 000’s) 2021 2022 2023 2024 2025 Q2’25 Q2’26 Non-GAAP Reconciliations Total net revenue (GAAP) $ 984,872 $ 1,573,535 $ 2,122,789 $ 2,674,859 $ 3,613,354 $ 854,944 $ 1,218,676 Non-GAAP Adjustments: Net interest income 13,865 2
Slide 54: Footnotes to Financial Statements
Footnotes to Financial Statements
Slide 55: Footnotes
Footnotes (1) We refer to our customers as “members”. 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 servi
Slide 56: Footnotes
Footnotes (6) Adjusted EBITDA, adjusted EBITDA margin, and incremental adjusted EBITDA margin are non-GAAP measures. Adjusted EBITDA is defined as net income (loss), adjusted to exclude, as applicable: (i) corporate borrowing- based interest expense (our adjusted EBITDA measure is not adjusted for w
Slide 57: Footnotes
Footnotes (17) Reflects changes in fair value inputs and assumptions on residual interests classified as debt, including conditional prepayment, default rates and discount rates. When third parties finance our consolidated securitization variable interest entities by purchasing residual interests, w