SoFi Technologies Inc. (NASDAQ: SOFI) has reported a significant surge in its financial performance for the first quarter of 2025, showcasing the company’s robust growth trajectory and expanding footprint in the fintech sector. The San Francisco-based digital financial services firm announced a 200% increase in adjusted earnings per share (EPS) to $0.06, surpassing analyst expectations and marking its sixth consecutive quarter of GAAP profitability.
The company’s revenue for the quarter rose by 20% year-over-year to $771.8 million, driven by a substantial increase in membership and product adoption. SoFi added 800,000 new members during the quarter, bringing its total membership to 10.9 million—a 34% increase compared to the same period last year. Additionally, the company recorded 1.2 million new product additions, elevating its total product count to 15.9 million, a 35% year-over-year growth.
“These results demonstrate the strength of SoFi’s unique strategy, combination of businesses, and product architecture, which give us a sustainable competitive advantage with the highest lifetime value per member,” said CEO Anthony Noto in a statement.
Originally known for its student loan refinancing services, SoFi has strategically diversified its offerings to include personal loans, mortgages, banking, investment products, and insurance. This expansion has been instrumental in attracting a broader customer base and increasing cross-selling opportunities. In the first quarter, the company’s lending segment reported $7.2 billion in loan originations, a 66% increase year-over-year. Personal loans accounted for $5.5 billion, up 69%; student loans reached $1.2 billion, up 59%; and home loans totaled $518 million, up 54%.
SoFi’s financial services segment also demonstrated remarkable growth, with net revenues more than doubling to $303.1 million, reflecting increased demand for its banking and investment products.
In a move to enhance its value proposition and cater to a wider audience, SoFi, through its technology platform Galileo Financial Technologies, partnered with Wyndham Hotels & Resorts to launch the Wyndham Rewards Debit Card. This co-branded debit card, a first in the U.S. hospitality industry, allows users to earn Wyndham Rewards points on everyday purchases, including gas, groceries, and dining. Cardholders also receive benefits such as complimentary Wyndham Rewards Gold membership, booking discounts, and annual point bonuses.
The debit card is designed to appeal to younger consumers and those who prefer debit over credit, aligning with SoFi’s strategy to attract and retain a diverse customer base.
Buoyed by its strong first-quarter performance, SoFi has raised its full-year 2025 financial guidance. The company now anticipates adjusted net revenue between $3.235 billion and $3.31 billion, up from the previous range of $3.2 billion to $3.275 billion. Adjusted EBITDA is projected to be between $875 million and $895 million, reflecting the company’s confidence in sustained growth.
Analysts forecast an 84% increase in earnings for 2025, with a further 91% growth expected in 2026. SoFi’s stock has responded positively, reaching levels not seen since late 2021 and earning a near-perfect IBD Composite Rating of 98, indicating strong potential for continued success.
The company’s strategic diversification, innovative product offerings, and strong financial performance position it well to capitalize on the growing demand for digital financial services. As SoFi continues to expand its ecosystem and enhance customer engagement, it remains a prominent player in the evolving fintech landscape.
