San Francisco—SoFi Technologies, the online lender and financial services upstart, is riding high after a blockbuster first quarter that sent its stock surging. On April 29, 2025, the company reported earnings that blew past Wall Street’s expectations, prompting a rare mid-year hike in its full-year guidance. Investors, smelling opportunity, piled in, driving shares up more than 8% in early trading.
The numbers tell a story of a company firing on all cylinders. SoFi’s adjusted net revenue hit $615 million for the quarter, a 33% jump from the same period last year, outpacing analyst estimates of $590 million. Earnings per share clocked in at $0.06, topping forecasts of $0.04. The company added a record 800,000 new members, bringing its total to over 9 million, and saw 1.2 million new products adopted, from checking accounts to investment portfolios. Its financial services segment, a key growth engine, doubled revenue year-over-year, fueled by soaring demand for SoFi Money and its investing platform.
What’s behind the momentum? SoFi’s been relentless in rolling out new features and leaning hard into its digital-first model. Its loan platform, which connects borrowers with investors, saw fee-based revenue spike 67% from last year. The company’s also cashing in on brand-building efforts, with marketing campaigns that have made it a household name among younger, tech-savvy consumers. In a crowded field of fintech players, SoFi’s carving out a niche by offering everything from student loan refinancing to crypto trading under one roof.
The standout moment came when SoFi raised its 2025 outlook, a move that caught analysts off guard. The company now expects full-year adjusted net revenue to land between $3.2 billion and $3.3 billion, up from its prior forecast of $3.1 billion to $3.2 billion. Earnings per share guidance got a bump too, now pegged at $0.26 to $0.28, compared to the earlier range of $0.25 to $0.27. It’s a bold call, signaling confidence that the growth spurt isn’t a one-off.
Investors didn’t need much convincing. By midday on April 29, SoFi’s stock had climbed to $9.45, a sharp rebound from its 52-week low of $6.80. The rally reflects a broader bet on SoFi’s ability to keep scaling while dodging the pitfalls that have tripped up other fintechs, like rising interest rates or loan defaults. For now, the market’s buying the story.
The earnings report, filed with the Securities and Exchange Commission, lays out the details in black and white. SoFi’s lending business, still its bread and butter, grew 22% year-over-year, while its technology platform, which powers services for other firms, chipped in a 15% revenue increase. Delinquency rates on loans stayed low, a sign that its borrowers—mostly millennials and Gen Z—are holding up despite economic headwinds.
For SoFi, founded in 2011 as a student loan refinancer, the past decade has been a wild ride. It went public in 2021 via a SPAC merger, weathered a brutal 2022 market rout, and has since fought to prove it’s more than a flash-in-the-pan startup. With a banking license secured in 2022 and a growing suite of products, it’s starting to look like a real contender in the financial world.
The road ahead isn’t all smooth. Regulatory scrutiny of fintechs is heating up, and competition from traditional banks and rivals like Chime and Block is fierce. Still, SoFi’s latest results suggest it’s got the firepower to keep pushing forward. For investors and customers alike, the message is clear: this company’s not slowing down.
SoFi’s market cap stood at $9.8 billion as of April 29, 2025. The company’s headquarters remain in San Francisco, with operations across the U.S. Its next earnings report is slated for late July.