SoFi Technologies Highlights 40% Growth, 70 Rule of 40 Score at Investor Conference

Key Points

• SoFi reported strong operating momentum: Revenue grew approximately 40% year over year in each of the first two quarters of 2026, with adjusted EBITDA margins near 30%, producing a Rule of 40 score of about 70.
• Member engagement and product adoption accelerated: The company added 1.1 million members and 2.2 million products in the latest quarter, while SoFi Plus surpassed 200,000 paying subscribers and generated $24 million in annualized revenue.
• SoFi maintained financial flexibility while raising its outlook: Deposits comprised 93% of its funding, its risk-based capital ratio was 18.8%, and management raised full-year revenue guidance despite now assuming one to two interest-rate hikes.

SoFi Technologies NASDAQ: SOFI CFO Chris Lapointe said the financial-services company entered the second half of 2026 with continued revenue growth, expanding product adoption and a mix of newer businesses that remain in earlier stages of development.

Speaking at an investor conference, Lapointe said SoFi generated approximately 40% year-over-year revenue growth in each of the first two quarters of 2026 and adjusted EBITDA margins of roughly 30%. He characterized the resulting “Rule of 40” score—revenue growth plus adjusted EBITDA margin—at about 70.

Lapointe said the company has exceeded a Rule of 40 score of 40 for 20 consecutive quarters. Since 2022, SoFi’s members, products and revenue have each compounded at more than 30% annually, he said.

Product Adoption and Cross-Buy Growth

SoFi added 1.1 million members and 2.2 million products during the most recent quarter, marking the first time product additions were twice as high as member additions, according to Lapointe. Cross-buy reached 51%, meaning existing members accounted for 51% of newly opened products.

Lapointe said members often enter the platform through broadly appealing offerings such as SoFi Money and SoFi Relay, then add products including credit cards and investing accounts. He said the company focuses on average revenue per product rather than average revenue per user. Excluding Relay, which does not generate revenue, average revenue per product rose 60% over the past two years, he said.

The company’s SoFi Plus subscription offering, launched April 1, had surpassed 200,000 paying subscribers at the end of the second quarter, representing $24 million in annualized revenue, Lapointe said. He added that 85% of new paid subscribers were existing SoFi members, while 25% added another product after becoming subscribers.

Balance Sheet, Capital and Lending

Lapointe said SoFi has not shifted away from third-party Loan Platform Business, or LPB, partners, stating that demand from those partners exceeded the loans the company fulfilled during each of the past two quarters.

Instead, he said management is weighing risk-adjusted returns, borrower demand, capital-markets demand and the durability of revenue in determining which loans to retain on its balance sheet and which to distribute through LPB partners.

During the second quarter, SoFi originated $10.7 billion in personal loans. Of that total, $7.6 billion was held on the balance sheet and $3.1 billion moved through its LPB business.

Deposits account for 93% of SoFi’s funding stack, Lapointe said, with more than 90% of member deposits coming from direct-deposit relationships. The company also has unused warehouse-line capacity and access to securitizations and whole-loan sales, he said.

SoFi’s total risk-based capital ratio stood at 18.8%, compared with a 10.5% regulatory minimum. Lapointe said SoFi aims to operate in the low- to mid-teens over the long term and does not expect to need to raise equity capital under its current operating plan.

On personal lending, Lapointe described refinancing prime revolving credit-card debt as the company’s largest opportunity. He said prime borrowers with revolving debt carrying interest rates around 25% could potentially refinance into lower-rate fixed personal loans. He said SoFi’s growth plans do not depend on moving to lower-quality credit borrowers.

Guidance and Consumer Credit

Lapointe said SoFi’s 2026 guidance now assumes one to two interest-rate hikes, compared with the two rate cuts assumed when the company initially issued its outlook. He said the company has raised its full-year revenue guidance while maintaining profitability expectations, despite higher expected rates and a higher effective tax rate.

The company’s ability to meet its second-half outlook does not require a favorable macroeconomic change, Lapointe said. He cited execution, continued member and product growth, and credit performance that remains in line with or better than expectations as key factors.

SoFi reported 90-day delinquencies of 40 basis points in the second quarter, down sequentially, and net charge-offs of 3.7%, down 70 basis points from the first quarter. Annualized spending across its debit and credit products reached $28 billion, and Lapointe said spending had not shown signs of slowing in the third quarter.

Technology, Crypto and AI Initiatives

Lapointe said SoFi expects LPB volume growth in the second half as it expands beyond unsecured personal loans. The company announced a $3 billion funding arrangement for small-business loans and has begun distributing closed-end second mortgages through the platform.

He also highlighted SoFi’s consumer crypto trading platform and SoFiUSD stablecoin as complementary opportunities. While crypto trading broadens the company’s investing products, Lapointe said SoFiUSD is intended primarily as payments infrastructure that can support around-the-clock settlement. He said SoFi is already settling crypto trades through SoFiUSD.

SoFi’s Big Business Banking platform enables businesses to hold deposits, move funds through application programming interfaces and convert between fiat currency and digital assets within a regulated banking environment, Lapointe said. He said the business could generate both fee income and net interest income.

For SoFi Technology Solutions, Lapointe said 2026 is a transition and investment year ahead of expected stronger growth in 2027. The business includes banking core and ledger systems, payment processing, payments, risk and fraud offerings, and expanded into lending and servicing through the acquisition of Peach Finance.

Lapointe also said SoFi Coach, its artificial-intelligence financial guidance tool, had generated nearly 500,000 conversations since launch and received an approval rating above 90%. He said the company currently views the product primarily as a way to support engagement, retention, cross-buy and member lifetime value, though paid value-added services could be considered over time.

About SoFi Technologies (NASDAQ:SOFI)

SoFi Technologies, Inc NASDAQ: SOFI is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company's core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.

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