SoFi Technologies, Inc.

sofi.com

What Do They Do?

Provides technology platforms that help financial institutions and other enterprises build and run financial products, alongside loans and digital financial products for individual members.

How Do They Make Money?

Financial institutions and other enterprises pay for platform services based on supported accounts and transaction volume over the contract term; software licenses are delivered once, with maintenance charged over time. Financial Services earns fees from borrower referrals, card transactions and completed investment transactions.

revenue

Segment	Share	Revenue	How money arrives
Financial Services Usage-based	42% FY2022: 19%		Usage-based
Technology Platform Mix	58% FY2022: 81%		Mix

Who Are Their Customers?

Members use SoFi's lending and financial products through its platform. Financial institutions and other enterprises subscribe to or use its technology services, while third-party partners receive borrower referrals.

Do Revenues Turn Into Profits?

Yes. It kept 78 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$4B.

Operating income, FY2025

−394% of revenue

▲ +28% (Loss) vs FY2024 (−$1.9B, −379%)

Net income, FY2025

78% of revenue

▼ −3% vs FY2024 ($498.7M, 99%)

Free cash flow, FY2025

−643% of revenue

▲ +213% (Loss) vs FY2024 (−$1.3B, −253%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +1%; vs $151.9M in Q2 FY2025
Net income: ▲ +61%; vs $97.3M in Q2 FY2025

Technology Platform share of revenue vs 59.6% in Q2 FY2025

Jul 29, 2026 Raises adjusted net revenue guidance It raised 2026 adjusted net revenue guidance to $4.75 billion to $4.85 billion.

Growing. Revenue grew 2.5x in 4 years, from $247.7M in FY2021 to $619.4M in FY2025, about 26% a year.

Revenue over time

Financial Services Technology Platform Lending

$1B$500M$0

FY2021 FY2022 FY2023 FY2024 FY2025

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