Slide 1: Investor Presentation Q4 2024 & FY 2024
Investor Presentation Q4 2024 & FY 2024 January 2025
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, and Tangible Book Value. These non- GAAP measures are in addition to, and not a s
Slide 3: 2024 Highlights
2024 Highlights Record growth and continued innovation Financial Highlights Business Highlights FY 2024 FY 2024 • Record Adjusted Net Revenue of $2.61B (+26% YoY) • 10.1M members, +34% YoY and 10x growth over the past 5 years • Record Adjusted EBITDA of $666M (26% Adjusted EBITDA Margin) • 14.7M pro
Slide 4: Continuous Innovation & Brand Building
Continuous Innovation & Brand Building Innovation and Brand Building have attracted over 10MM members © 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Cor
Slide 5: One-Stop Shop for Financial Services
One-Stop Shop for Financial Services Helping members achieve financial independence to realize their ambitions • Comprehensive offering designed to meet all the financial needs of our members, digitally, and at scale • Build brand awareness and trust leads customers into the Financial Services Produ
Slide 6: Members and Products
Members and Products Innovation and brand-building drive strong member and product growth (1) (2) Members Products in thousands in thousands (5) (5) New Member Additions of 2,806K in 2024, bringing Members to over 10.1M (+34% YoY) New Product Additions of 4,141K in 2024, bringing Products to over 14
Slide 7: Business Diversification
Business Diversification Financial Services Productivity loop leads to diversified growth across products (2) (2) Ratio of Financial Services to Lending Products Financial Services Products* 2023 2024 YoY 3.8x 4.9x 5.7x 6.3x Money 3,374 5,095 +51 % Relay 3,337 4,637 +39 % 14,745 Invest 2,381 2,525 +
Slide 8: Tech Platform
Tech Platform Supporting innovation for a broad range of enterprises (3)(4) Galileo gives clients the ability to create, launch and run financial Technology Platform Accounts products in millions User Experience 168 Physical Card Virtual Card Web & Mobile Banking Conversational Banking Issuance Issu
Slide 9: Financial Services + Tech Platform Revenue
Financial Services + Tech Platform Revenue Strong revenue growth leads shift towards more fee based, capital-light sources Adjusted Net Revenue Growth (8) Adjusted Net Revenue Mix (8) (8) Financial Services + Tech Platform Net Revenue ($M): +54% YoY to $1,217M Financial Services + Tech Platform, % o
Slide 10: SoFi Lending Platform Capabilities
SoFi Lending Platform Capabilities Serving more members while maximizing returns Scope Business Benefits Economic Lending Model Balance Sheet P S H C • Scales the business in a capital-light SoFi way Loans that fit our risk and return profile are retained to gain the benefit Members of recurring int
Slide 11: Q4 2024 Credit Performance
Q4 2024 Credit Performance
Slide 12: Personal Loan Credit Performance
Personal Loan Credit Performance Recent vintages continue to outperform prior vintages NCL* by Loan Vintage and Remaining UPB** as of Q3 NCL* by Loan Vintage and Remaining UPB** as of Q4 At 54% remaining unpaid principal, NCL is 2.82% for Q4’22-Q1’24 vintages At 45% remaining unpaid principal, NCL i
Slide 13: Personal Loan Credit Performance
Personal Loan Credit Performance Performance is trending better than our underwriting tolerance of 8% life of loan losses Q1'20 - Q3'24 Origination & NCL Analysis Total Originations Q1'20 - Q3'24 $44B Remaining UPB on Total Of the $44B of Q1’20-Q3’24 principal Originations Q1'20-Q3'24 $18.5B origina
Slide 14: Q4 2024 Financial Review
Q4 2024 Financial Review
Slide 15: Strong Financial Performance
Strong Financial Performance Business model built to deliver leading combination of growth and returns (8) (9) (22) Adjusted Net Revenue ($M) Adjusted EBITDA ($M) Adjusted EPS ($) * 2024: First full year of profitability $2,606 $666 $2,074 $0.15 $1,540 $432 $(0.10) $1,010 $(0.40) $143 $(1.00) $30 20
Slide 16: FY 2024 Performance vs Guidance
FY 2024 Performance vs Guidance Significantly outperformed our expectations at the start of the year $ in millions, except per share amounts 2024 Guidance Latest 2024 2024 Actual Original Guidance Guidance (8) Adjusted net revenue $2,606 $2,535 - $2,550 $2,365-$2,405* Implied Annual Growth 26% 22%-2
Slide 17: FY and Q1 2025 Guidance
FY and Q1 2025 Guidance $ in millions, except per share amounts FY 2025 Guidance Business / Segment Expectations: 2024 Actual Low High (8) • Member growth of at least 2.8 million, or 28% Adjusted net revenue $2,606 $3,200 $3,275 from 2024 levels Implied Annual Growth 35% 23% 26% (9) • Incremental EB
Slide 18: Financial Supplement
Financial Supplement
Slide 19: Company Metrics
Company Metrics FY 2022 FY 2023 FY 2024 Full Year (in 000’s) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 2022 2023 2024 Company Metrics (1) Members 3,868 4,319 4,743 5,223 5,656 6,240 6,957 7,542 8,132 8,774 9,373 10,127 5,223 7,542 10,127 QoQ % 11.8 % 11.6 % 9.8 % 10.1 %
Slide 20: Segment Financials
Segment Financials FY 2022 FY 2023 FY 2024 Full Year (in 000’s) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 2022 2023 2024 Lending Segment Student Loan Originations $ 983,804 $ 398,722 $ 457,184 $ 405,789 $ 525,373 $ 395,367 $ 919,330 $ 789,970 $ 751,680 $ 736,518 $ 943,5
Slide 21: Segment Financials
Segment Financials FY 2022 FY 2023 FY 2024 Full Year (in 000’s) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 2022 2023 2024 Lending Segment Net interest income $ 94,354 $ 114,003 $ 139,516 $ 183,607 $ 201,047 $ 231,885 $ 265,215 $ 262,626 $ 266,536 $ 279,212 $ 316,268 $ 34
Slide 22: Net Interest Margin Components
Net Interest Margin Components FY 2022 FY 2023 FY 2024 (in 000’s) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Average Balances Total interest-earning assets $ 8,666,475 $ 9,374,928 $ 10,723,022 $ 14,103,767 $ 17,239,960 $ 20,357,082 $ 22,856,717 $ 25,698,397 $ 27,428,608
Slide 23: Fair Value of Loans
Fair Value of Loans FY 2022 FY 2023 FY 2024 (in 000’s) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Personal Loans Unpaid principal $ 3,006,363 $ 3,943,768 $ 6,667,484 $ 8,283,400 $ 10,039,769 $ 12,171,935 $ 14,177,004 $ 14,498,629 $ 14,332,874 $ 15,040,190 $ 16,199,604 $
Slide 24: 90+ Day Delinquencies
90+ Day Delinquencies FY 2022 FY 2023 FY 2024 (in 000’s) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Personal Loans Total Unpaid principal $ 3,006,363 $ 3,943,768 $ 6,667,484 $ 8,283,400 $ 10,039,769 $ 12,171,935 $ 14,177,004 $ 14,498,629 $ 14,332,874 $ 15,040,190 $ 16,19
Slide 25: Select Balance Sheet Information
Select Balance Sheet Information Assets Liabilities and Permanent Equity $ in thousands Q4'24 Q4'24 Cash & cash equivalents $ 2,538,293 Revolving credit facility $ 486,000 Restricted cash & cash equivalents 171,067 Personal loan warehouse facilities 205,367 Investment Securities 1,895,689 Student lo
Slide 26: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations FY 2022 FY 2023 FY 2024 Full Year (in 000’s) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 2022 2023 2024 Net Revenue (GAAP) $ 330,344 $ 362,527 $ 423,985 $ 456,679 $ 472,158 $ 498,018 $ 537,209 $ 615,404 $ 644,995 $ 598,618 $ 6
Slide 27: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations FY 2022 FY 2023 FY 2024 Full Year (in 000’s) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 2022 2023 2024 Non-GAAP Reconciliations Net Revenue (GAAP) $ 330,344 $ 362,527 $ 423,985 $ 456,679 $ 472,158 $ 498,018 $ 537,209 $ 615,40
Slide 28: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations FY 2022 FY 2023 FY 2024 Full Year (in 000’s) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 2022 2023 2024 Non-GAAP Reconciliations Net Revenue - Lending (GAAP) $ 252,989 $ 257,117 $ 301,694 $ 328,191 $ 337,081 $ 331,441 $ 348,97
Slide 29: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations FY 2023 FY 2024 Full Year (in 000’s) Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 2023 2024 Non-GAAP Reconciliations Net Income (Loss) (GAAP) $ (34,422) $ (47,549) $(266,684) $ 47,913 $ 88,043 $ 17,404 $ 60,745 $ 332,473 $(300,742) $ 498,665 Income ta
Slide 30: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations FY 2023 FY 2024 Full Year (in 000’s, except per share amounts) Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 2023 2024 Non-GAAP Reconciliations Numerator: Net income (loss) attributable to common stockholders – diluted (GAAP) $ (44,390) $ (57,628) $ (2
Slide 31: Non-GAAP Financial Measures & Reconciliations
Non-GAAP Financial Measures & Reconciliations FY 2022 FY 2023 FY 2024 (in 000’s, except per share data) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Non-GAAP Reconciliations Total permanent equity (GAAP) $ 5,210,299 $ 5,186,180 $ 5,181,003 $ 5,208,102 $ 5,234,072 $ 5,257,6
Slide 32: Footnotes to Financial Statements
Footnotes to Financial Statements
Slide 33: 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 34: Footnotes
Footnotes (8) Adjusted net revenue is a non-GAAP measure. Adjusted net revenue is defined as total net revenue, adjusted to exclude the fair value changes in servicing rights and residual interests classified as debt due to valuation inputs and assumptions changes, which relate only to our Lending s
Slide 35: Footnotes
Footnotes (20) Adjusted net income (loss) is a non-GAAP measure. Adjusted net income (loss) is defined as net income (loss), adjusted to exclude, as applicable, goodwill impairment expense and certain income tax adjustments that are not expected to recur and are not indicative of our core operating