2024 Q3 Form 10-Q Financial Statement

#000181887424000175 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $131.2M $120.8M
YoY Change 25.04% 15.37%
Cost Of Revenue $123.7M $109.7M
YoY Change 25.91% 16.85%
Gross Profit $7.511M $11.08M
YoY Change 12.34% 2.51%
Gross Profit Margin 5.72% 9.17%
Selling, General & Admin $363.8M $329.8M
YoY Change 16.92% 5.02%
% of Gross Profit 4843.9% 2976.51%
Research & Development $139.7M $132.2M
YoY Change 11.15% 4.2%
% of Gross Profit 1860.13% 1192.95%
Depreciation & Amortization $150.0M
YoY Change 185.62%
% of Gross Profit 1996.45%
Operating Expenses $503.5M $461.9M
YoY Change 15.26% 4.78%
Operating Profit -$496.0M -$450.9M
YoY Change 15.3% 4.84%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $8.214M $15.34M
YoY Change -103.08% -131.1%
Income Tax $3.110M -$2.064M
% Of Pretax Income 37.86% -13.46%
Net Earnings $5.104M $17.40M
YoY Change -101.91% -136.6%
Net Earnings / Revenue 3.89% 14.41%
Basic Earnings Per Share $0.06 $0.01
Diluted Earnings Per Share $0.00 $0.01
COMMON SHARES
Basic Shares Outstanding 1.066B shares 1.057B shares
Diluted Shares Outstanding 1.104B shares 1.065B shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $2.355B $2.335B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $350.4M $329.6M
YoY Change 18.77% 15.31%
Goodwill $1.394B $1.394B
YoY Change 0.0% -15.07%
Intangibles $315.0M $331.4M
YoY Change -18.68% -19.57%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $34.38B $32.64B
YoY Change 22.89% 27.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $569.0M $535.4M
YoY Change 0.53% -15.35%
Accrued Expenses $101.0M $100.8M
YoY Change -10.59% -12.52%
Deferred Revenue $7.733M $7.078M
YoY Change 42.73% 3.74%
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $670.0M $636.2M
YoY Change -1.32% -14.91%
LONG-TERM LIABILITIES
Long-Term Debt $3.181B $3.107B
YoY Change -49.12% -52.16%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $3.181B $3.107B
YoY Change -49.12% -52.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $670.0M $636.2M
Total Long-Term Liabilities $3.181B $3.107B
Total Liabilities $28.26B $26.74B
YoY Change 25.02% 33.81%
SHAREHOLDERS EQUITY
Retained Earnings -$1.638B -$1.699B
YoY Change -11.56% 7.15%
Common Stock $108.0K $106.0K
YoY Change 13.68% 12.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.121B $5.901B
YoY Change
Total Liabilities & Shareholders Equity $34.38B $32.64B
YoY Change 22.89% 27.7%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $5.104M $17.40M
YoY Change -101.91% -136.6%
Depreciation, Depletion And Amortization $150.0M
YoY Change 185.62%
Cash From Operating Activities -$1.174B -$484.4M
YoY Change -56.32% -76.71%
INVESTING ACTIVITIES
Capital Expenditures $119.4M
YoY Change 292.72%
Acquisitions
YoY Change
Other Investing Activities $35.38M -$2.229B
YoY Change -125.62% 828.47%
Cash From Investing Activities -$84.01M -$2.195B
YoY Change -50.15% 720.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.495B 1.263B
YoY Change -43.6% -56.0%
NET CHANGE
Cash From Operating Activities -1.174B -484.4M
Cash From Investing Activities -84.01M -2.195B
Cash From Financing Activities 1.495B 1.263B
Net Change In Cash 237.6M -1.416B
YoY Change -216.34% -370.66%
FREE CASH FLOW
Cash From Operating Activities -$1.174B -$484.4M
Capital Expenditures $119.4M
Free Cash Flow -$1.293B
YoY Change -52.41%

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18822000 usd
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15340000 usd
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3078000 usd
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392000 usd
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CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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WeightedAverageNumberOfSharesOutstandingBasic
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CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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sofi Adjustment To Additional Paid In Capital Capped Call Transaction Purchase
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us-gaap Redeemable Preferred Stock Dividends
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sofi Temporary Equity Preferred Stock Redeemed Or Called During Period Shares
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3234000 shares
sofi Temporary Equity Preferred Stock Redeemed Or Called During Period Value
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320374000 usd
us-gaap Net Income Loss
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320374000 usd
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sofi Fair Value Adjustment Of Financing Receivable Held For Investment At Fair Value
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sofi Fair Value Adjustment Of Financing Receivable Held For Investment At Fair Value
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sofi Fair Value Adjustment Of Securitization Of Loans
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sofi Unwind Of Derivative Instrument Financing Activities
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10180000 usd
sofi Unwind Of Derivative Instrument Financing Activities
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us-gaap Proceeds From Stock Options Exercised
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323400000 usd
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us-gaap Net Cash Provided By Used In Financing Activities
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1654826000 usd
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2731632000 usd
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CashAndCashEquivalentsAtCarryingValue
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2731632000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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3501128000 usd
us-gaap Debt Conversion Converted Instrument Amount1
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us-gaap Debt Conversion Converted Instrument Amount1
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sofi Deposits Credited But Not Yet Obtained In Cash
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sofi Debt Securities Available For Sale Purchased But Not Yet Paid
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sofi Debt Securities Available For Sale Purchased But Not Yet Paid
DebtSecuritiesAvailableForSalePurchasedButNotYetPaid
47553000 usd
sofi Deconsolidation Of Securitized Debt
DeconsolidationOfSecuritizedDebt
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sofi Deconsolidation Of Securitized Debt
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us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
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us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
30089000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Number Of Reportable Segments
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3 segment
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of our condensed consolidated financial statements and related disclosures in conformity with GAAP requires management to make assumptions and estimates that affect the reported amounts of assets, liabilities, revenue and expenses as well as the disclosures of contingent assets and liabilities. These estimates and assumptions are inherently subjective in nature; therefore, actual results may differ from our estimates and assumptions, and the differences could be material. Management bases its estimates on historical experience and on various other factors it believes to be reasonable </span></div>under the circumstances. These assumptions and estimates include, but are not limited to, the following: (i) fair value measurements, (ii) business combinations, and (iii) goodwill.
CY2023Q4 us-gaap Goodwill
Goodwill
1393505000 usd
CY2024Q2 us-gaap Goodwill
Goodwill
1393505000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
120782000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
104693000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
236391000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
200175000 usd
CY2024Q2 sofi Noninterest Income Loan Origination Sales And Securitizations
NoninterestIncomeLoanOriginationSalesAndSecuritizations
54872000 usd
CY2023Q2 sofi Noninterest Income Loan Origination Sales And Securitizations
NoninterestIncomeLoanOriginationSalesAndSecuritizations
90164000 usd
sofi Noninterest Income Loan Origination Sales And Securitizations
NoninterestIncomeLoanOriginationSalesAndSecuritizations
111872000 usd
sofi Noninterest Income Loan Origination Sales And Securitizations
NoninterestIncomeLoanOriginationSalesAndSecuritizations
213498000 usd
CY2024Q2 sofi Noninterest Income Servicing
NoninterestIncomeServicing
6659000 usd
CY2023Q2 sofi Noninterest Income Servicing
NoninterestIncomeServicing
9052000 usd
sofi Noninterest Income Servicing
NoninterestIncomeServicing
13633000 usd
sofi Noninterest Income Servicing
NoninterestIncomeServicing
21794000 usd
CY2024Q2 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
3721000 usd
CY2023Q2 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
2983000 usd
us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
66415000 usd
us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
7573000 usd
CY2024Q2 us-gaap Revenue Not From Contract With Customer Excluding Interest Income
RevenueNotFromContractWithCustomerExcludingInterestIncome
65252000 usd
CY2023Q2 us-gaap Revenue Not From Contract With Customer Excluding Interest Income
RevenueNotFromContractWithCustomerExcludingInterestIncome
102199000 usd
us-gaap Revenue Not From Contract With Customer Excluding Interest Income
RevenueNotFromContractWithCustomerExcludingInterestIncome
191920000 usd
us-gaap Revenue Not From Contract With Customer Excluding Interest Income
RevenueNotFromContractWithCustomerExcludingInterestIncome
242865000 usd
CY2024Q2 us-gaap Noninterest Income
NoninterestIncome
186034000 usd
CY2023Q2 us-gaap Noninterest Income
NoninterestIncome
206892000 usd
us-gaap Noninterest Income
NoninterestIncome
428311000 usd
us-gaap Noninterest Income
NoninterestIncome
443040000 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
7078000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
5718000 usd
CY2024Q2 sofi Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
1086000 usd
CY2023Q2 sofi Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
2444000 usd
sofi Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
2386000 usd
sofi Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
4784000 usd
CY2024Q2 us-gaap Contract With Customer Receivable After Allowance For Credit Loss
ContractWithCustomerReceivableAfterAllowanceForCreditLoss
68150000 usd
CY2023Q4 us-gaap Contract With Customer Receivable After Allowance For Credit Loss
ContractWithCustomerReceivableAfterAllowanceForCreditLoss
60466000 usd
CY2024Q2 us-gaap Loans Receivable Held For Sale Amount
LoansReceivableHeldForSaleAmount
15893565000 usd
CY2023Q4 us-gaap Loans Receivable Held For Sale Amount
LoansReceivableHeldForSaleAmount
15396771000 usd
CY2024Q2 sofi Financing Receivable Held For Investment At Fair Value
FinancingReceivableHeldForInvestmentAtFairValue
7194762000 usd
CY2023Q4 sofi Financing Receivable Held For Investment At Fair Value
FinancingReceivableHeldForInvestmentAtFairValue
6725484000 usd
CY2024Q2 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
2172528000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
836159000 usd
CY2024Q2 sofi Financing Receivable After Allowance For Credit Loss Including Receivables At Fair Value And Excluding Held For Sale
FinancingReceivableAfterAllowanceForCreditLossIncludingReceivablesAtFairValueAndExcludingHeldForSale
9367290000 usd
CY2023Q4 sofi Financing Receivable After Allowance For Credit Loss Including Receivables At Fair Value And Excluding Held For Sale
FinancingReceivableAfterAllowanceForCreditLossIncludingReceivablesAtFairValueAndExcludingHeldForSale
7561643000 usd
CY2024Q2 sofi Financing Receivable After Allowance For Credit Loss Including Receivables At Fair Value And Held For Sale
FinancingReceivableAfterAllowanceForCreditLossIncludingReceivablesAtFairValueAndHeldForSale
25260855000 usd
CY2023Q4 sofi Financing Receivable After Allowance For Credit Loss Including Receivables At Fair Value And Held For Sale
FinancingReceivableAfterAllowanceForCreditLossIncludingReceivablesAtFairValueAndHeldForSale
22958414000 usd
CY2024Q2 sofi Transferors Interests In Transferred Financial Assets Deconsolidation Of Debt
TransferorsInterestsInTransferredFinancialAssetsDeconsolidationOfDebt
55900000 usd
sofi Transferors Interests In Transferred Financial Assets Deconsolidation Of Debt
TransferorsInterestsInTransferredFinancialAssetsDeconsolidationOfDebt
98000000.0 usd
CY2023Q2 sofi Transferors Interests In Transferred Financial Assets Deconsolidation Of Debt
TransferorsInterestsInTransferredFinancialAssetsDeconsolidationOfDebt
45900000 usd
sofi Contractually Specified Servicing Fee Income Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag
ContractuallySpecifiedServicingFeeIncomeStatementOfIncomeOrComprehensiveIncomeExtensibleEnumerationNotDisclosedFlag
Servicing fees collected from transferred loans
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2109000 usd
CY2024Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
382000 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
982000 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1509000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1645000 usd
CY2023Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1096000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
804000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1937000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2793000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
3121000 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1509000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2785000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
242000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1090000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1937000 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
541000 usd
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1038000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
18000 usd
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1179000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
1443344000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
3039000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3440000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
5600000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1444223000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
596757000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
639000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1011000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
3220000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
595187000 usd
CY2024Q2 sofi Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Zero Expected Credit Loss Percentage Of Portfolio
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestZeroExpectedCreditLossPercentageOfPortfolio
0.98
CY2023Q4 sofi Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Zero Expected Credit Loss Percentage Of Portfolio
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestZeroExpectedCreditLossPercentageOfPortfolio
0.92
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
909442000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
3465000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
44395000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
2135000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
953837000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
5600000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
500942000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
215000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
94245000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
3005000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
595187000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
3220000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
212393000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
17389000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
19236000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
1194326000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
1443344000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Maturity Within One Year Weighted Average Yield
DebtSecuritiesAvailableForSaleMaturityWithinOneYearWeightedAverageYield
0.0502
CY2024Q2 us-gaap Debt Securities Available For Sale Maturity After One Through Five Years Weighted Average Yield
DebtSecuritiesAvailableForSaleMaturityAfterOneThroughFiveYearsWeightedAverageYield
0.0203
CY2024Q2 us-gaap Debt Securities Available For Sale Maturity After Five Through Ten Years Weighted Average Yield
DebtSecuritiesAvailableForSaleMaturityAfterFiveThroughTenYearsWeightedAverageYield
0.0311
CY2024Q2 us-gaap Debt Securities Available For Sale Maturity After10 Years Weighted Average Yield
DebtSecuritiesAvailableForSaleMaturityAfter10YearsWeightedAverageYield
0.0525
CY2024Q2 us-gaap Debt Securities Available For Sale Weighted Average Yield
DebtSecuritiesAvailableForSaleWeightedAverageYield
0.0509
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
212038000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
16946000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
18764000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
1193436000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
1441184000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
3039000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0 usd
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0 usd
us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0 usd
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
3356000 usd
us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
509000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0 usd
CY2024Q2 sofi Variable Interest Entity Consolidated Number Of Entities
VariableInterestEntityConsolidatedNumberOfEntities
4 entity
CY2023Q4 sofi Variable Interest Entity Consolidated Number Of Entities
VariableInterestEntityConsolidatedNumberOfEntities
6 entity
sofi Variable Interest Entity Consolidated Exercised Securitization Clean Up Calls Number Of Entities
VariableInterestEntityConsolidatedExercisedSecuritizationCleanUpCallsNumberOfEntities
2 entity
CY2024Q2 sofi Variable Interest Entity Nonconsolidated Investments Held Number Of Entities
VariableInterestEntityNonconsolidatedInvestmentsHeldNumberOfEntities
24 entity
CY2023Q4 sofi Variable Interest Entity Nonconsolidated Investments Held Number Of Entities
VariableInterestEntityNonconsolidatedInvestmentsHeldNumberOfEntities
22 entity
sofi Variable Interest Entity Nonconsolidated Number Of Trusts Established
VariableInterestEntityNonconsolidatedNumberOfTrustsEstablished
2 trust
CY2024Q2 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
18669251000 usd
CY2023Q4 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
12902033000 usd
CY2024Q2 us-gaap Demand Deposit Accounts
DemandDepositAccounts
2397002000 usd
CY2023Q4 us-gaap Demand Deposit Accounts
DemandDepositAccounts
2663335000 usd
CY2024Q2 us-gaap Time Deposits
TimeDeposits
1879399000 usd
CY2023Q4 us-gaap Time Deposits
TimeDeposits
3003625000 usd
CY2024Q2 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
22945652000 usd
CY2023Q4 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
18568993000 usd
CY2024Q2 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
51311000 usd
CY2023Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
51670000 usd
CY2024Q2 us-gaap Deposits
Deposits
22996963000 usd
CY2023Q4 us-gaap Deposits
Deposits
18620663000 usd
CY2024Q2 us-gaap Interest Bearing Domestic Deposit Brokered
InterestBearingDomesticDepositBrokered
1838936000 usd
CY2023Q4 us-gaap Interest Bearing Domestic Deposit Brokered
InterestBearingDomesticDepositBrokered
3160414000 usd
CY2023Q4 sofi Interest Bearing Domestic Deposit Brokered Time Deposits
InterestBearingDomesticDepositBrokeredTimeDeposits
2971462000 usd
CY2023Q4 sofi Interest Bearing Domestic Deposit Brokered Demand Deposits
InterestBearingDomesticDepositBrokeredDemandDeposits
188952000 usd
CY2024Q2 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
21634000 usd
CY2023Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
21268000 usd
CY2024Q2 us-gaap Time Deposit Maturities Remainder Of Fiscal Year
TimeDepositMaturitiesRemainderOfFiscalYear
1289077000 usd
CY2024Q2 us-gaap Time Deposit Maturities Year One
TimeDepositMaturitiesYearOne
587975000 usd
CY2024Q2 us-gaap Time Deposit Maturities Year Two
TimeDepositMaturitiesYearTwo
2074000 usd
CY2024Q2 us-gaap Time Deposit Maturities Year Three
TimeDepositMaturitiesYearThree
0 usd
CY2024Q2 us-gaap Time Deposit Maturities Year Four
TimeDepositMaturitiesYearFour
158000 usd
CY2024Q2 sofi Time Deposit Maturities After Year Four
TimeDepositMaturitiesAfterYearFour
115000 usd
CY2024Q2 us-gaap Time Deposits
TimeDeposits
1879399000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3140906000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
5259584000 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
34277000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
26168000 usd
CY2024Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
3106629000 usd
CY2023Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
5233416000 usd
sofi Debt Instrument Debt Discounts Issued
DebtInstrumentDebtDiscountsIssued
17300000 usd
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
100000000 shares
CY2021Q2 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.0000025
CY2024Q2 sofi Temporary Equity Preferred Stock Redeemed Or Called During Period Value
TemporaryEquityPreferredStockRedeemedOrCalledDuringPeriodValue
320374000 usd
CY2024Q2 us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
3026000 usd
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1065112270 shares
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1065112270 shares
CY2024Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
205020529 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
206182041 shares
CY2024Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
605000 usd
CY2024Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
0 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
605000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
1222000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1222000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-274000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
0 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-274000 usd
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
13297000 usd
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
56000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
2209000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
5951000 usd
CY2024Q2 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
56000 usd
CY2024Q2 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
56000 usd
CY2023Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
1347000 usd
CY2023Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
1347000 usd
CY2024Q2 us-gaap Derivative Asset After Offset Subject To Master Netting Arrangement
DerivativeAssetAfterOffsetSubjectToMasterNettingArrangement
13241000 usd
CY2024Q2 us-gaap Derivative Liability After Offset Subject To Master Netting Arrangement
DerivativeLiabilityAfterOffsetSubjectToMasterNettingArrangement
0 usd
CY2023Q4 us-gaap Derivative Asset After Offset Subject To Master Netting Arrangement
DerivativeAssetAfterOffsetSubjectToMasterNettingArrangement
862000 usd
CY2023Q4 us-gaap Derivative Liability After Offset Subject To Master Netting Arrangement
DerivativeLiabilityAfterOffsetSubjectToMasterNettingArrangement
4604000 usd
CY2023Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 usd
CY2024Q2 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 usd
CY2024Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
12832593000 usd
CY2023Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
13737388000 usd
CY2024Q2 sofi Fair Value Option Unpaid Principal Long Term Debt Instruments
FairValueOptionUnpaidPrincipalLongTermDebtInstruments
103315000 usd
CY2023Q4 sofi Fair Value Option Unpaid Principal Long Term Debt Instruments
FairValueOptionUnpaidPrincipalLongTermDebtInstruments
128619000 usd
CY2024Q2 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-1037000 usd
CY2023Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
12502005 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1065171357 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
936569420 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1042403113 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
932926222 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
3026000 usd
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
30089000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2024Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
412584000 usd
CY2024Q2 us-gaap Noninterest Income
NoninterestIncome
186034000 usd
CY2024Q2 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
598618000 usd
CY2023Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
291126000 usd
CY2023Q2 us-gaap Noninterest Income
NoninterestIncome
206892000 usd
CY2023Q2 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
498018000 usd
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
815302000 usd
us-gaap Noninterest Income
NoninterestIncome
428311000 usd
us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
1243613000 usd
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
527136000 usd
us-gaap Noninterest Income
NoninterestIncome
443040000 usd
us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
970176000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
15340000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-49329000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
109566000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-85388000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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ex101-sofiq224.htm Edgar Link pending
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