SoFi Technologies (SOFI) Stock Drops 8% After Q1 Earnings Despite Revenue Beat

TLDR

• SoFi beat Q1 revenue estimates with $1.1 billion, up 42.8% year-on-year
• Adjusted EPS of $0.12 matched analyst expectations
• Full-year 2026 revenue guidance of $4.655 billion barely topped consensus, disappointing investors
• Q2 guidance for revenue growth and EBITDA margin both came in below expectations
• Stock fell around 8.5% in pre-market trading following the results

SoFi Technologies beat revenue expectations in Q1 2026, but the stock still sold off sharply. The numbers were good — the guidance, not so much.

The company posted revenue of $1.1 billion, up 42.8% year-on-year, topping the analyst consensus of $1.05 billion by 4.7%. Adjusted EPS came in at $0.12, right in line with estimates. Adjusted EBITDA hit a record $340 million, up 62%, with a 31% margin.

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

SoFi Technologies, Inc., SOFI

Loan originations were a standout. Total originations hit a record $12.2 billion, up 68% year-on-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.

Guidance Fell Short

Despite the strong quarter, it was the forward outlook that sent the stock lower. Full-year 2026 revenue guidance came in at $4.655 billion — just barely above the analyst consensus of $4.651 billion. That razor-thin beat wasn’t enough to satisfy the market.

For Q2, SoFi guided for adjusted net revenue growth of around 30% and an adjusted EBITDA margin of approximately 30%. Both figures came in below what analysts had expected, and that miss is what drove the sell-off.

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

Full-Year Targets Still Intact

For fiscal 2026, SoFi maintained its targets. Management expects adjusted EBITDA of approximately $1.6 billion and adjusted net income of around $825 million. That works out to adjusted EPS of roughly $0.60 per share.

Pre-tax profit for Q1 was $199.6 million, representing an 18.1% margin.

Over the past five years, SoFi has grown revenue at a compounded annual rate of 39.2%. The two-year annualized growth rate sits at 33.7%, slightly below that longer-term trend but still a strong pace.

The stock was trading at $16.83 following the report, down from $18.36 before the announcement.

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