SoFi Technologies, Inc. reported significant financial growth in its latest quarterly filing, with total net revenue reaching $961.6 million for the three months ended September 30, 2025, a 38% increase from $697.1 million in the same period last year. For the nine months ended September 30, 2025, total net revenue was $2.6 billion, up 33% from $1.9 billion in the prior year. The company achieved a net income of $139.4 million for the third quarter, compared to $60.7 million in the same quarter of 2024, marking a 129% increase. Diluted earnings per share (EPS) also rose to $0.11, up from $0.05 a year earlier.
The company experienced notable changes in its loan portfolio, with loans held for sale increasing by 22% to $21.6 billion, and loans held for investment at fair value rising by 38% to $11.8 billion as of September 30, 2025. Total deposits grew by 27% to $32.9 billion, driven by competitive offerings in checking and savings accounts. The increase in loans and deposits reflects SoFi's strategic focus on expanding its lending capabilities and enhancing its banking services through SoFi Bank, which has been operational since its acquisition of Golden Pacific Bancorp in 2022.
Operationally, SoFi reported a total member count of over 12.6 million, a 35% increase year-over-year, with total products reaching nearly 18.6 million, up 36% from the previous year. The company’s Loan Platform Business saw a significant uptick, with loan origination volume increasing by 57% and 62% for the three and nine months ended September 30, 2025, respectively. This growth was attributed to strong demand for personal, student, and home loans, as well as increased marketing efforts.
In terms of expenses, total noninterest expenses rose by 28% to $803.9 million for the third quarter, driven by higher costs in technology and product development, sales and marketing, and general administrative expenses. The provision for credit losses also increased by 53% to $9.2 million, reflecting growth in the credit card portfolio and improved credit quality. The company continues to manage its growth effectively while navigating the challenges posed by the current economic environment, including fluctuating interest rates and regulatory changes.
Looking ahead, SoFi Technologies remains optimistic about its growth trajectory, emphasizing its commitment to innovation and expanding its product offerings. The company plans to leverage its banking capabilities to enhance member engagement and drive further adoption of its financial services. The ongoing focus on member-centric solutions and strategic partnerships is expected to bolster its market position and financial performance in the coming quarters.
About SoFi Technologies, Inc.
SoFi Technologies, Inc. is a digital-first financial services company offering lending, banking, investment, and financial management products. Its core segments include lending (personal, student, and home loans), a technology platform serving financial institutions, and a suite of consumer financial products like checking, savings, investing, and credit cards. The company emphasizes member-centric, integrated solutions to promote financial independence and build long-term relationships.
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