Slide 1: Q1 2023 Summary Results
Q1 2023 Summary Results May 2023
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 in addition to, and not a substitute for or superi
Slide 3: Members
Members Added 433K new Members in Q1, bringing Total to 5.7M (+46% YoY) (1) Members in thousands New Members (000s) 430 279 377 523 408 450 424 480 433 YoY Growth 110% 113% 96% 87% 70% 69% 61% 51% 46% Note: See “Footnotes” section for detailed explanations and definitions © 2022 Social Finance, Inc.
Slide 4: Products
Products Added 660K New Products in Q1, Bringing Total to 8.6M (+46% YoY) Products (2) in thousands New Products (000s) 471 661 482 601 905 689 702 635 695 660 YoY Growth 113% 121% 123% 108% 105% 84% 79% 69% 53% 46% Note: See “Footnotes” section for detailed explanations and definitions © 2022 Socia
Slide 5: Galileo Accounts
Galileo Accounts Accounts Total 126M (+15% YoY) Galileo Accounts (3)(15) in millions YoY Growth 140% 132% 119% 81% 67% 58% 48% 40% 30% 15% Note: See “Footnotes” section for detailed explanations and definitions © 2022 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Money
Slide 6: Lending and Financial Services Products
Lending and Financial Services Products Growth in products & members driven by Financial Services products, which reached 7.1M (+51% YoY) Lending Products (000s): +24% YoY to 1.4M Financial Services Products (000s): +51% YoY to 7.1M YoY Growth 15% 12% 14% 15% 18% 20% 23% 24% 24% 24% YoY Growth 315%
Slide 7: 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 Q1’23 Total: 8,437K Total Fin Serv Products Total Lending Products Money: 2,413K Q1’22 5x Invest: 2,211K Total: 5,863K Rel
Slide 8: Q1 2023 Financial Review
Q1 2023 Financial Review 8
Slide 9: Quarterly Performance
Quarterly Performance Record Adjusted Net Revenue of $460M (43% YoY Growth) and record Adjusted EBITDA of $76M (8.4x YoY Growth) (4) (6) Quarterly Adjusted Net Revenue ($M) Quarterly Adjusted EBITDA ($M) Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual m
Slide 10: Q1 2023 Non-GAAP Results vs Guidance
Q1 2023 Non-GAAP Results vs Guidance Exceeded High End of Adj. Net Revenue and Adj. EBITDA Q1 Guidance Q1 Adj. Net Revenue was $460M vs guidance of $430-440M, representing a $20M beat at the high end Adj. EBITDA was $76M vs. guidance of $40-45M, representing a $31M beat at the high end Q1’2023 Guida
Slide 11: Q2'23 Non-GAAP Guidance
Q2’23 Non-GAAP Guidance We expect to deliver $470-480M in Adjusted Net Revenue, and $50-60M in Adjusted EBITDA $ in millions Q2'23 Low Q2'23 High (4) Adjusted Net Revenue $470 $480 YoY Growth 32% 35% (6) Adjusted EBITDA $50 $60 Adjusted EBITDA Margin 11% 13% See “Footnotes” section for detailed expl
Slide 12: FY 2023 Non-GAAP Guidance
FY 2023 Non-GAAP Guidance We expect to deliver $1.955-2.02B in Adjusted Net Revenue, and $268-288M in Adjusted EBITDA at a 30% incremental EBITDA margin This guide assumes positive quarterly GAAP Net Income in Q4 2023 and a 20% incremental GAAP Net Income margin for the full year Prior 2023 $ in mil
Slide 13: Financial Supplement
Financial Supplement 13
Slide 14: Company Metrics
Company Metrics (1) (2) (2) Not Updated (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®
Slide 15: 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 16: Non-GAAP Financial Measures
Non-GAAP Financial Measures (7) (8) (4) (9) 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®
Slide 17: Non-GAAP Reconciliations
Non-GAAP Reconciliations (7) (8) (9) (11) (12) (13) (14) (7) (8) 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 Wea
Slide 18: Non-GAAP Reconciliations for SoFi Bank
Non-GAAP Reconciliations for SoFi Bank 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 of
Slide 19: 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 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 and/or 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 to our ce
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