SoFi Technologies, Inc. reported significant financial growth in its latest quarterly filing, with total net revenue reaching $854.9 million for the three months ended June 30, 2025, a 43% increase compared to $598.6 million in the same period last year. For the first half of 2025, the company generated $1.6 billion in revenue, marking a 31% rise from $1.2 billion in the first half of 2024. The increase in revenue was driven by a substantial rise in both net interest income and noninterest income, with net income soaring to $97.3 million, up 459% from $17.4 million a year earlier.
The company also saw a notable increase in its loan portfolio, with total loans reaching $32.2 billion, a 17% increase from $27.5 billion at the end of 2024. Loans held for sale increased by 13% to $20.1 billion, while loans held for investment at fair value rose by 25% to $10.7 billion. The growth in loans was attributed to a 64% increase in personal loan origination volume and a 35% increase in student loan origination volume, reflecting strong demand for these products.
Strategically, SoFi has expanded its offerings through acquisitions, including the recent purchase of Wyndham Capital Mortgage, which enhances its mortgage lending capabilities. The company has also focused on increasing its technology platform services, with total accounts on its platform reaching 160 million, a slight increase from the previous year. This growth is complemented by a 34% increase in total members, now exceeding 11.7 million, and a corresponding rise in total products offered, which reached over 17.1 million.
Operationally, SoFi's total deposits grew by 14% to $29.5 billion, driven by competitive interest rates and expanded FDIC insurance coverage through its Insured Deposit Program. The company reported a net interest margin of 5.86% for the second quarter, slightly up from 5.83% in the previous year. Looking ahead, SoFi remains optimistic about its growth trajectory, emphasizing its commitment to innovation and member engagement as key drivers of future performance. The company is also preparing to launch new cryptocurrency-related products, which it anticipates will further enhance its service offerings and member engagement.
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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