SoFi Technologies Inc
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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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.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations and Comprehensive Loss
(In Thousands, Except for Share and Per Share Data)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Interest income | |||
| Loans and securitizations | $1,944,128 | $759,504 | $351,971 |
| Other | 106,939 | 13,867 | 3,049 |
| Total interest income | 2,051,067 | 773,371 | 355,020 |
| Interest expense | |||
| Securitizations and warehouses | 244,220 | 110,127 | 90,485 |
| Deposits | 507,820 | 59,793 | — |
| Corporate borrowings | 36,833 | 18,438 | 10,345 |
| Other | 454 | 917 | 1,946 |
| Total interest expense | 789,327 | 189,275 | 102,776 |
| Net interest income | 1,261,740 | 584,096 | 252,244 |
| Noninterest income | |||
| Loan origination, sales, and securitizations | 371,812 | 565,372 | 482,764 |
| Servicing | 37,328 | 43,547 | (2,281) |
| Technology products and solutions | 323,972 | 304,901 | 191,847 |
| Other | 127,937 | 75,619 | 60,298 |
| Total noninterest income | 861,049 | 989,439 | 732,628 |
| Total net revenue | 2,122,789 | 1,573,535 | 984,872 |
| Noninterest expense | |||
| Technology and product development | 511,419 | 405,257 | 276,087 |
| Sales and marketing | 719,400 | 617,823 | 426,875 |
| Cost of operations | 379,998 | 313,226 | 256,980 |
| General and administrative | 511,011 | 501,618 | 498,534 |
| Goodwill impairment | 247,174 | — | — |
| Provision for credit losses | 54,945 | 54,332 | 7,573 |
| Total noninterest expense | 2,423,947 | 1,892,256 | 1,466,049 |
| Loss before income taxes | (301,158) | (318,721) | (481,177) |
| Income tax benefit (expense) | 416 | (1,686) | (2,760) |
| Net loss | $(300,742) | $(320,407) | $(483,937) |
| Other comprehensive income (loss) | |||
| Unrealized gains (losses) on available-for-sale securities, net | 6,410 | (7,260) | (1,351) |
| Foreign currency translation adjustments, net | 677 | 435 | 46 |
| Total other comprehensive income (loss) | 7,087 | (6,825) | (1,305) |
| Comprehensive loss | $(293,655) | $(327,232) | $(485,242) |
| Loss per share (Note 19) | |||
| Loss per share – basic | $(0.36) | $(0.40) | $(1.00) |
| Loss per share – diluted | $(0.36) | $(0.40) | $(1.00) |
| Weighted average common stock outstanding – basic | 945,024,160 | 900,886,113 | 526,730,261 |
| Weighted average common stock outstanding – diluted | 945,024,160 | 900,886,113 | 526,730,261 |
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