Earnings

SoFi Technologies Non-GAAP EPS of -$0.03 beats by $0.06, revenue of $537.2M beats by $21.64M

SoFi Technologies press release (NASDAQ:SOFI): Q3 Non-GAAP EPS of -$0.03 beats by $0.06.
Revenue of $537.2M (+26.7% Y/Y) beats by $21.64M.
GAAP Net Revenue of $537 Million Up 27%; $531 Million Adjusted Net Revenue Up 27% Year-over-Year
New Member Adds of Over 717,000; Quarter-End Total Members Up 47% Year-over-Year to Over 6.9 Million

New Product Adds of Nearly 1,047,000; Quarter-End Total Products Up 45% Year-over-Year to Over 10.4 Million

Total Deposit Growth of $2.9 Billion, Up 23% During the Third Quarter to $15.7 Billion

$68 Million Growth in Tangible Book Value, $171 Million on a Trailing 12 Month Basis

For the full year 2023, management expects adjusted net revenue of $2.045 to $2.065 billion, up from its prior guidance of $1.974 to $2.034 billion, and full-year adjusted EBITDA of $386 to $396 million, up from its prior guidance of $333 to $343 million, representing a 48% incremental adjusted EBITDA margin and a range of 18.9% to 19.2% adjusted EBITDA margin.