SoFi Technologies Inc
For the period ended Dec 31, 2024. Filed Feb 24, 2025.
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FY2024 · Filed Feb 24, 2025
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Consolidated Results of Operations
The following table sets forth selected consolidated statements of income data:
| Year Ended December 31, · 2024 vs. 2023 · 2023 vs. 2022 | |||||||
|---|---|---|---|---|---|---|---|
| ($ in thousands) | 2024 | 2023 | 2022 | $ Change | % Change | $ Change | % Change |
| Net interest income | $1,716,481 | $1,261,740 | $584,096 | $454,741 | 36% | $677,644 | 116% |
| Total noninterest income | 958,378 | 861,049 | 989,439 | 97,329 | 11% | (128,390) | (13)% |
| Total net revenue | 2,674,859 | 2,122,789 | 1,573,535 | 552,070 | 26% | 549,254 | 35% |
| Provision for credit losses(1) | 31,712 | 54,945 | 54,332 | (23,233) | (42)% | 613 | 1% |
| Total noninterest expense(1) | 2,409,802 | 2,369,002 | 1,837,924 | 40,800 | 2% | 531,078 | 29% |
| Income (loss) before income taxes | 233,345 | (301,158) | (318,721) | 534,503 | n/m | 17,563 | (6)% |
| Income tax benefit (expense) | 265,320 | 416 | (1,686) | 264,904 | n/m | 2,102 | n/m |
| Net income (loss) | $498,665 | $(300,742) | $(320,407) | $799,407 | n/m | $19,665 | (6)% |
(1)In the fourth quarter of 2024, we made a presentation change to present theprovision for credit losses below total net revenue and above total noninterest expense, from its previous presentation within total noninterest expense. Respective prior period amounts were recast to conform to the current period presentation.
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