Slide 1: Q3 2023 Summary Results
Q3 2023 Summary Results October 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 Record New Member Additions of 717K in Q3, bringing total to nearly 7M (+47% YoY) (1) Members in thousands New Members (000s) 430 279 377 523 408 450 424 480 433 584 717 YoY Growth 110% 113% 96% 87% 70% 69% 61% 51% 46% 44% 47% Note: See “Footnotes” section for detailed explanations and defin
Slide 4: Products
Products Record New Product Additions of 1.05M in Q3, Bringing Total to 10.4M (+45% YoY) Products (2) in thousands New Products (000s) 661 482 601 905 689 702 635 695 660 847 1,047 YoY Growth 121% 123% 108% 105% 84% 79% 69% 53% 46% 43% 45% Note: See “Footnotes” section for detailed explanations and
Slide 5: Galileo Accounts
Galileo Accounts Accounts Total 137M (+10% YoY) Galileo Accounts (3)(15) in millions YoY Growth 132% 119% 81% 67% 58% 48% 40% 30% 15% 11% 10% Note: See “Footnotes” section for detailed explanations and definitions © 2022 Social Finance, Inc. Advisory services offered through SoFi Wealth LLC. SoFi Mo
Slide 6: Lending and Financial Services Products
Lending and Financial Services Products Growth in products & members driven by Financial Services products, which reached nearly 8.9M (+50% YoY) Lending Products(2) (000s): +24% YoY to 1.6M Financial Services Products(2) (000s): +50% YoY to 8.9M YoY Growth 12% 14% 15% 18% 20% 23% 24% 24% 24% 25% 24%
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 Q3’23 Total Fin Serv Products Total Lending Products Total: 10,448K Money: 3,064K Q3’22 5.6x Invest: 2,465K Total: 7,199K
Slide 8: Q3 2023 Financial Review
Q3 2023 Financial Review 8
Slide 9: Quarterly Performance
Quarterly Performance Record Adjusted Net Revenue of $531M (27% YoY Growth) and record Adjusted EBITDA of $98M (at 18% Margin) (4) (6) Quarterly Adjusted Net Revenue ($M) Quarterly Adjusted EBITDA ($M) YoY Growth 51% 58% 43% 37% 27% EBITDA Margin 11% 16% 16% 16% 18% Note: See “Footnotes” section for
Slide 10: FY 2023 Non-GAAP Guidance
FY 2023 Non-GAAP Guidance We expect to deliver $2.045-2.065B in Adjusted Net Revenue, and $386-396M in Adjusted EBITDA at a 48% incremental Adjusted EBITDA margin This guide assumes positive quarterly GAAP Net Income in Q4 2023 Q2 Revised Original 2023 $ in millions 2021 Actual 2022 Actual 2023 Low
Slide 11: Financial Supplement
Financial Supplement 11
Slide 12: 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 13: 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 14: Non-GAAP Financial Measures
Non-GAAP Financial Measures (7) (8) (4) (4) (4) (9) (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 offered through SoFi Wealth LLC.
Slide 15: Non-GAAP Reconciliations
Non-GAAP Reconciliations (7) (8) (4) (9) (11) (13) (12) (14) (7) (8) (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 offered through
Slide 16: 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 17: 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 18: Adjusted Loss Per Share Reconciliation
Adjusted Loss Per Share Reconciliation (16) (4) (17) (16) (17) (17) 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
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 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 22: Footnotes
Footnotes (8) Reflects changes in fair value inputs and assumptions, including conditional prepayment, default rates and discount rates. When third parties finance our consolidated variable interest entities through purchasing residual interests, we receive proceeds at the time of the securitization