WASHINGTON (dpa-AFX) - SoFi Technologies, Inc. (SOFI), a financial technology company, on Tuesday posted a rise in earnings and revenue for the third quarter of fiscal 2026, amidst improved demand.
For the three-month period to September 30, the company posted a net income of $240.989 million, or $0.18 per share, compared with $139.738 million, or $0.11 per share in the same period last year.
Excluding items, profit was $242.986 million, or $0.18 per share, higher than $139.738 million, or $0.11 per share in the prior year. Excluding items, EBITDA surged to $469.818 million from $276.881 million in the previous year.
Total net revenue was $1.385 billion, up from $961.600 million in the prior year.
Looking ahead, for fiscal 2026, the company has revised up its adjusted EBITDA and revenue outlook. SoFi now expects adjusted net revenue of $5.04 billion against the earlier expectation of $4.75 billion to $4.85 billion. The company now projects adjusted EBITDA of around $1.66 billion, higher than the earlier guidance of $1.6 billion. SoFi anticipates annual net income of $840 million, or $0.61 per share.
For fiscal 2025, the financial technology firm had reported net income of $482.700 million, or $0.39 per share, with adjusted EBITDA of $1.053 billion, on adjusted net revenue of $3.591 billion.
SoFi has initiated guidance for fiscal 2027. The company anticipates net income of $1.28 billion, with earnings per share of $0.90. SoFi projects adjusted EBITDA of $2.24 billion and adjusted net revenue of $6.4 billion. The 2027 outlook represents approximately 27% adjusted net revenue growth and an adjusted net income margin of around 20%, according to the company.
SOFI was up by 8.03% at $15.62 in the pre-market trade on the Nasdaq.
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