SoFi Technologies Inc
For the period ended Mar 31, 2025. Filed May 6, 2025.
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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.
Mar 31, 2025 · Filed May 6, 2025
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Summary Results by Segment
Contribution profit is the primary measure of segment-level profit and loss that, along with our key business metrics, is used by management to evaluate our business, measure our performance, identify trends and make strategic decisions. Contribution profit is defined as total net revenue for each reportable segment less expenses directly attributable to the reportable segment, provision for credit losses and, in the case of our Lending segment, adjusted for fair value adjustments attributable to assumption changes associated with our servicing rights and residual interests classified as debt. See the sections entitled“Consolidated Results of Operations”, “Summary Results by Segment” and “Non-GAAP Financial Measures”for discussion and analysis of these key financial measures.
| Three Months EndedMarch 31, · 2025 vs 2024 | ||||
|---|---|---|---|---|
| 2025 | 2024 | Change | % Change | |
| Lending | ||||
| Total net revenue | $413,373 | $330,476 | $82,897 | 25% |
| Directly attributable expenses | (173,399) | (117,604) | (55,795) | 47% |
| Contribution profit | 238,935 | 207,719 | 31,216 | 15% |
| Technology Platform | ||||
| Total net revenue | $103,427 | $94,366 | $9,061 | 10% |
| Directly attributable expenses | (72,514) | (63,624) | (8,890) | 14% |
| Contribution profit | 30,913 | 30,742 | 171 | 1% |
| Financial Services | ||||
| Total net revenue | $303,119 | $150,551 | $152,568 | 101% |
| Provision for credit losses | (5,639) | (7,165) | 1,526 | (21)% |
| Directly attributable expenses | (149,148) | (106,212) | (42,936) | 40% |
| Contribution profit | 148,332 | 37,174 | 111,158 | 299% |
| Reportable segments total | ||||
| Total net revenue | $819,919 | $575,393 | $244,526 | 42% |
| Provision for credit losses | (5,639) | (7,165) | 1,526 | (21)% |
| Directly attributable expenses | (395,061) | (287,440) | (107,621) | 37% |
| Contribution profit | 418,180 | 275,635 | 142,545 | 52% |
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