SoFi posts record $1.1B revenue in Q1 as everything app strategy gains traction

US digital financial services company SoFi Technologies posted $1.1 billion in net revenue for Q1 2026, up 43% from the prior year, while net income rose 134% to approximately $167 million, according to a Wednesday report.

SoFi continues to scale its customer base and lending platform, with more than 1 million new members added in Q1, taking the total to nearly 15 million and driving a 39% increase in platform products. Lending momentum accelerated sharply as originations rose 68% year-over-year to over $12 billion, including strong gains across personal, student, and home loans.

The company reported deposits exceeded $40 billion and now account for more than 90% of liabilities, significantly reducing funding costs. Financial performance strengthened further as net interest income rose 39% to $693 million and adjusted EBITDA increased 62% to almost $340 million.

Commenting on the results, SoFi CEO Anthony Noto said that new initiatives such as digital assets, alongside core business strength, are helping expand the platform and support sustained investment and long-term compounding growth.

“We had an excellent Q1 delivering another quarter of durable growth and strong returns, fueled by our relentless focus on innovation and brand building. Members grew 35% and products increased 39%, with 43% of new products coming from existing members, as more people choose SoFi as their trusted partner for major financial decisions and all the days in between,” Noto stated.

For the full year, SoFi expects adjusted net revenue of roughly $4.6 billion, adjusted EBITDA of about $1.6 billion, and adjusted earnings per share of around 60 cents. The company is also committed to growing its members by at least 30% for the year.

SoFi became the first US fintech with a full banking charter. In late 2025, the firm launched SoFiUSD, a fully reserved US dollar-backed stablecoin issued through its OCC-regulated bank subsidiary.

Earlier this month, SoFi introduced Big Business Banking, a regulated platform for enterprise management of traditional and digital assets, built on SoFi Bank, N.A.’s chartered banking infrastructure. It offers real-time payments, large deposit accounts, API-driven settlement, and blockchain-based tools including SoFiUSD and tokenized deposits.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.