SoFi achieves quarterly revenue of $1 billion, boosting crypto and blockchain

SoFi Technologies reported its first quarter with GAAP net revenue of $1 billion for the three months ending 12/31, a 40% increase compared to the same period last year. Net income reached $173.5 million, marking the company’s ninth consecutive profitable quarter.

Adjusted net revenue hit a record $1.013 billion, up 37% year-over-year, while adjusted EBITDA reached $317.6 million, a 60.6% increase, with a profit margin of 31%. Revenue from service fees — a key indicator of diversification — increased 53% to a record $443.3 million.

In Q4, SoFi added a record 1,027,000 new members, bringing the total to 13.7 million, a 35% increase from the previous year. The number of products used also grew by 1.6 million, with the Financial Services segment increasing by 38% to 17.5 million products. Products such as SoFi Money, Relay, and Invest accounted for 89% of product growth, helping the financial services revenue reach $456.7 million, a 78% increase compared to the same period last year.

Alongside strong financial results, SoFi continues to expand its digital asset strategy. The company became the first nationally licensed bank in the US to offer crypto trading for retail customers, and also launched its own stablecoin named SoFiUSD on a public blockchain to support 24/7 payment infrastructure for enterprise partners.

Previously, SoFi reactivated its spot crypto trading and blockchain-based international remittance services after suspending them in 2023 due to legal barriers. The company also partnered with Lightspark to implement cross-border transfers using the Bitcoin Lightning network, enabling real-time USD to BTC conversions before settling in local currency in over 30 countries.

Looking ahead, SoFi expects total members to grow by at least 30% in 2026. Management forecasts full-year adjusted net revenue of approximately $4.66 billion and adjusted net income of around $825 million.