SoFi Reports Record Q3 Income and Raises 2026 Forecast

SoFi Technologies reported third-quarter net income of $241 million and total net revenue of $1.39 billion, exceeding analyst expectations. The results were driven by record loan originations of $16.9 billion, a 71% increase from the previous year, with significant growth across personal, student, and home loans.

The company added a record 1.2 million members in a single quarter, bringing its total membership to 17.1 million. Despite rising borrowing costs, SoFi noted stable credit performance, with the personal loan annualized charge-off rate falling to 2.26%. Following the announcement, shares jumped more than 11% in early trading on Tuesday.

Based on these results, SoFi raised its 2026 adjusted revenue forecast to $5.04 billion and issued its first projection for 2027, targeting adjusted net revenue of approximately $6.4 billion. CEO Anthony Noto stated that the results refute the prognostications of critics and noted that the company is not seeing evidence of a slowdown in how members borrow, spend, save, or invest.