SoFi Technologies (SOFI) stock fell 8% after Q1 earnings despite increased revenue

TLDR

• SoFi beat Q1 revenue estimates by $1.1 billion, up 42.8% year over year
• Adjusted EPS of $0.12 matched analyst expectations
• 2026 revenue guidance of $4.655 billion barely beat consensus, disappointing investors
• Second-quarter guidance for revenue growth and EBITDA margin came in below expectations
• The stock fell about 8.5% in pre-market trading following the results

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SoFi Technologies beat revenue expectations in the first quarter of 2026, but the stock is still selling off sharply. The numbers were good, but the guidance was not great.

$SOFI Highlights of first quarter 2026 earnings results

🔹Revenue: $1.10 billion (estimated value: $1.05 billion) 🟢; +43% YoY
🔹 EPS: $0.12 ($0.12) 🟡; +100% year on year
🔹 Adjusted net revenues: $1.087 billion; +41% YoY
🔹 Adjusted EBITDA: $339.9 million; +62% YoY
🔹 Members: 14.7 million; +35% YoY
🔹Total loan originations: $12.2 billion; +68% YoY

fiscal year… pic.twitter.com/XKEWfsMyz8

– Wall Street Engine (@wallstengine) April 29, 2026

The company reported revenue of $1.1 billion, up 42.8% year over year, beating the analyst consensus of $1.05 billion by 4.7%. Adjusted EPS came in at $0.12, right in line with estimates. Adjusted EBITDA reached a record high of $340 million, up 62%, with a margin of 31%.

SoFi also added a record 1.1 million new members in the quarter. Total members now stand at 14.7 million, an increase of 35% year-on-year. Total products reached 22.2 million, up 39%.

Sovi Technologies, Inc., Sovi

Loan originations were prominent. Total innovations reached a record $12.2 billion, up 68% year over year. Personal loans led the way at $8.3 billion, followed by student loans at $2.6 billion and home loans at $1.2 billion.

CEO Anthony Noto called it an “excellent first quarter,” citing sustained growth and strong returns. He noted that 43% of new products came from existing members, which is a sign of deepening engagement across the platform.

The directions were short

Despite the strong quarter, it was future expectations that pushed the stock lower. Full-year 2026 revenue guidance was $4.655 billion – slightly above the analyst consensus of $4.651 billion. These subtle rhythms were not enough to satisfy the market.

For the second quarter, Sufi It was guided for adjusted net revenue growth of about 30% and adjusted EBITDA margin of about 30%. Both numbers came in lower than analysts expected, and this error is what led to the selling.

The stock fell 8.45% in pre-market trading, falling to $16.83.

The full year goals remain intact

For fiscal 2026, SoFi maintained its targets. Management expects adjusted EBITDA of approximately $1.6 billion and adjusted net income of approximately $825 million. This results in adjusted EPS of about $0.60 per share.

Earnings before tax for the first quarter were $199.6 million, representing a margin of 18.1%.

Over the past five years, SoFi’s revenue has grown at a CAGR of 39.2%. The two-year annual growth rate is 33.7%, slightly below this long-term trend but still a strong pace.

The stock traded at $16.83 after the report, down from $18.36 before the announcement.