SoFi Technologies Inc

For the period ended Dec 31, 2023. Filed Feb 27, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 27, 2024

SOFI$16.37-2.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets

	December 31,
	2023	2022
Assets
Cash and cash equivalents	$3,085,020	$1,421,907
Restricted cash and restricted cash equivalents	530,558	424,395
Investment securities (includes available-for-sale securities of $595,187 and $195,438 at fair value with associated amortized cost of $596,757 and $203,418, as of December 31, 2023 and 2022, respectively)	701,935	396,769
Loans held for sale, at fair value	15,396,771	13,557,074
Loans held for investment, at fair value	6,725,484	—
Loans held for investment (less allowance for credit losses on loans at amortized cost of $54,695 and $40,788 as of December 31, 2023 and 2022, respectively)	836,159	307,957
Servicing rights	180,469	149,854
Property, equipment and software	216,908	170,104
Goodwill	1,393,505	1,622,991
Intangible assets	364,048	442,155
Operating lease right-of-use assets	89,635	97,135
Other assets (less allowance for credit losses of $1,837 and $2,785 as of December 31, 2023 and 2022, respectively)	554,366	417,334
Total assets	$30,074,858	$19,007,675
Liabilities, temporary equity and permanent equity
Liabilities:
Deposits:
Interest-bearing deposits	$18,568,993	$7,265,792
Noninterest-bearing deposits	51,670	76,504
Total deposits	18,620,663	7,342,296
Accounts payable, accruals and other liabilities	549,748	516,215
Operating lease liabilities	108,649	117,758
Debt	5,233,416	5,485,882
Residual interests classified as debt	7,396	17,048
Total liabilities	24,519,872	13,479,199
Commitments, guarantees, concentrations and contingencies (Note 18)
Temporary equity(1):
Redeemable preferred stock, $0.00 par value: 100,000,000 and 100,000,000 shares authorized; 3,234,000 and 3,234,000 shares issued and outstanding as of December 31, 2023 and 2022, respectively	320,374	320,374
Permanent equity:
Common stock, $0.00 par value: 3,100,000,000 and 3,100,000,000 shares authorized; 975,861,793 and 933,896,120 shares issued and outstanding as of December 31, 2023 and 2022, respectively(2)	97	93
Additional paid-in capital	7,039,987	6,719,826
Accumulated other comprehensive loss	(1,209)	(8,296)
Accumulated deficit	(1,804,263)	(1,503,521)
Total permanent equity	5,234,612	5,208,102
Total liabilities, temporary equity and permanent equity	$30,074,858	$19,007,675

(1)Redemption amount is $323,400 as of December 31, 2023 and 2022.

(2)Includes 100,000,000 non-voting common shares authorized andno non-voting common shares issued and outstanding as of December 31, 2023 and 2022. See Note 13. Equity for additional information.

Consolidated Balance Sheets (Continued)

The following table presents the assets and liabilities of consolidated VIEs which are included in our consolidated balance sheets. The assets in the below table may only be used to settle obligations of consolidated VIEs and are in excess of those obligations as of the dates presented. Additionally, the assets and liabilities in the table below exclude intercompany balances, which eliminate upon consolidation.

	December 31,
	2023	2022
Assets:
Restricted cash and restricted cash equivalents	$50,547	$68,151
Loans held for sale, at fair value	502,757	931,701
Loans held for investment, at fair value	221,461	—
Total assets	$774,765	$999,852
Liabilities:
Accounts payable, accruals and other liabilities	$1,773	$3,053
Debt	420,974	771,454
Residual interests classified as debt	7,396	17,048
Total liabilities	$430,143	$791,555

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.