SoFi Technologies Inc
For the period ended Jun 30, 2024. Filed Aug 6, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 6, 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
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
(In Thousands, Except for Share and Per Share Data)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Interest income | ||||
| Loans and securitizations | $621,061 | $444,846 | $1,241,289 | $805,242 |
| Other | 53,534 | 25,150 | 99,217 | 36,318 |
| Total interest income | 674,595 | 469,996 | 1,340,506 | 841,560 |
| Interest expense | ||||
| Securitizations and warehouses | 17,362 | 63,060 | 58,283 | 117,384 |
| Deposits | 231,815 | 106,529 | 443,266 | 179,645 |
| Corporate borrowings | 12,725 | 9,167 | 23,436 | 17,167 |
| Other | 109 | 114 | 219 | 228 |
| Total interest expense | 262,011 | 178,870 | 525,204 | 314,424 |
| Net interest income | 412,584 | 291,126 | 815,302 | 527,136 |
| Noninterest income | ||||
| Loan origination, sales, and securitizations | 54,872 | 90,164 | 111,872 | 213,498 |
| Servicing | 6,659 | 9,052 | 13,633 | 21,794 |
| Technology products and solutions | 85,866 | 82,289 | 171,538 | 155,090 |
| Other | 38,637 | 25,387 | 131,268 | 52,658 |
| Total noninterest income | 186,034 | 206,892 | 428,311 | 443,040 |
| Total net revenue | 598,618 | 498,018 | 1,243,613 | 970,176 |
| Noninterest expense | ||||
| Technology and product development | 132,167 | 126,845 | 263,087 | 243,904 |
| Sales and marketing | 184,762 | 182,822 | 352,128 | 357,976 |
| Cost of operations | 109,703 | 93,885 | 209,764 | 177,793 |
| General and administrative | 145,006 | 131,180 | 290,246 | 254,869 |
| Provision for credit losses | 11,640 | 12,615 | 18,822 | 21,022 |
| Total noninterest expense | 583,278 | 547,347 | 1,134,047 | 1,055,564 |
| Income (loss) before income taxes | 15,340 | (49,329) | 109,566 | (85,388) |
| Income tax (expense) benefit | 2,064 | 1,780 | (4,119) | 3,417 |
| Net income (loss) | $17,404 | $(47,549) | $105,447 | $(81,971) |
| Other comprehensive income (loss) | ||||
| Unrealized gains on available-for-sale securities, net | 741 | 830 | 41 | 3,078 |
| Foreign currency translation adjustments, net | (136) | 392 | (315) | 99 |
| Total other comprehensive income (loss) | 605 | 1,222 | (274) | 3,177 |
| Comprehensive income (loss) | $18,009 | $(46,327) | $105,173 | $(78,794) |
| Earnings (loss) per share (Note 16) | ||||
| Earnings (loss) per share – basic | $0.01 | $(0.06) | $0.08 | $(0.11) |
| Earnings (loss) per share – diluted | $0.01 | $(0.06) | $0.03 | $(0.11) |
| Weighted average common stock outstanding – basic | 1,058,591,943 | 936,569,420 | 1,020,604,718 | 932,926,222 |
| Weighted average common stock outstanding – diluted | 1,065,171,357 | 936,569,420 | 1,042,403,113 | 932,926,222 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.