SoFi Technologies, Inc.

SoFi is a financial services company that leverages technology to serve people and enterprises. We reported a number of key financial achievements in the three and nine months ended September 30, 2025, including total net revenue of $961.6 million and $2.6 billion, respectively, representing an increase of 38% and 33% , respectively, over total net revenue in the same periods of 2024. For the third quarter of 2025, total fee-based revenue reached a record of $408.7 million, compared to $272.1 million in the same period of 2024, a year-over-year increase of 50%. This was driven by strong performance from our Loan Platform Business, as well as origination fee revenue, referral fee revenue, interchange fee revenue and brokerage fee revenue. Diluted EPS for the three and nine months ended September 30, 2025 was $0.11 and $0.25, respectively, compared to diluted EPS of $0.05 and $0.08, respectively, in the same periods of 2024. Diluted EPS for the 2024 periods do not include benefits from the gain on convertible debt exchanges in the first and third quarters of 2024.

The following tables set forth selected financial data:

Continued growth in both total members and products, along with improving operating efficiency, reflects the benefits of our broad product suite and Financial Services Productivity Loop strategy. Total members reached over 12.6 million as of

September 30, 2025, a 35% increase from the prior year period, while total products reached nearly 18.6 million as of September 30, 2025, a 36% year-over-year increase.

Lending segment contribution profit of $261.6 million and $745.2 million for the three and nine months ended September 30, 2025, respectively, at a segment contribution margin of 53% and 55%, respectively, increased 9% and 16% over the respective 2024 periods, which had a segment contribution margin of 60% and 60%, respectively. Lending segment performance was driven by net interest income primarily driven by growth in average loan balances.

Origination volume for our Lending products increased 57% and 62% for the three and nine months ended September 30, 2025, respectively, as a result of continued strong member demand for personal loans, student loans and home loans as well as strong demand from capital markets partners. Overall, we sold, or transferred through our Loan Platform Business, more than $4.6 billion and $11.1 billion in total of personal loans, student loans and home loans during the three and nine months ended September 30, 2025, respectively. We believe that the growth opportunity for the Loan Platform Business continues to be strong.

Technology Platform segment contribution profit of $32.4 million and $96.5 million for the three and nine months ended September 30, 2025, respectively, decreased 2% and increased 2% over the respective 2024 periods, and total net revenue of $114.6 million and $327.8 million for the three and nine months ended September 30, 2025, respectively, increased 12% over the respective 2024 periods. Technology Platform total enabled client accounts was 158 million down from 160 million in the prior year period. SoFi continues to diversify its Technology Platform client base. During the quarter, SoFi announced partnerships with several more U.S. consumer brands as we continue to work with a broader range of companies to help bring innovative programs that drive greater loyalty and engagement with their customers.

Within our Financial Services segment, contribution profit of $225.6 million and $562.1 million for the three and nine months ended September 30, 2025, respectively, significantly improved compared to a contribution profit of $99.8 million and $192.2 million in the respective 2024 periods. Total net revenue of $419.6 million and $1.1 billion for the three and nine months ended September 30, 2025, respectively, increased 76% and 92% over the respective 2024 periods. In the third quarter of 2025, we generated $164.9 million in loan platform fees, driven by $3.4 billion of personal loans originated on behalf of third parties, as well as referrals. Additionally, our Loan Platform Business generated $3.0 million in servicing cash flow which is recorded in our Lending segment. In total, our Loan Platform Business added $167.9 million to our consolidated adjusted net revenue across these two segments. We also continued to see healthy growth in interchange fee revenue in the third quarter of 2025, up 55% year-over-year, driven by increased spend across Money and Credit Card. We plan to continue to pursue opportunities to increase fee-based revenue.

We achieved continued strong growth in member deposits and strong deposit contribution from direct deposit members, ending the period with $32.9 billion of total deposits as of September 30, 2025, allowing us to maintain diversified sources of funding. Total deposit funds grew nearly $3.4 billion during the quarter. We continue to provide our members with access to expanded FDIC insurance coverage through a network of participating banks in our Insured Deposit Program, further enhancing the benefits of our offering to our members.

The strength of our results underscores our belief that our suite of differentiated products and services provides the foundation for a diversified business that can endure through market cycles as well as in the face of exogenous factors. For instance, our access to multiple channels of funding, including deposit and loan warehouse funding, provides an increased optionality in sourcing liquidity through different environments and periods of capital markets volatility, as well as increases our flexibility to capture additional net interest margin and optimize returns. This typically provides more stable earnings in any macroeconomic environment, but is particularly important during times of macroeconomic volatility.

During the first quarter of 2025, we added a fee-based subscription option to get access to SoFi Plus, our premium financial membership that brings together the best of all we have to offer, with exclusive access to preferred pricing on products, extra rewards, complimentary financial planning, live events and more. Members can still access SoFi Plus by setting up direct deposit to a SoFi Money checking and savings account.

We continue to strive to innovate and develop new products and services, and have announced the first two crypto and blockchain innovations across our products and services. First is self-serve global remittance services which allows SoFi Money members to seamlessly and securely transfer money internationally, to help our members support family abroad, make purchases outside the U.S., or manage their money across borders. Members are currently able to send money to Mexico, with planned rollouts into additional international markets in the future. The second is our return to crypto investing, which when launched, is expected to provide members the ability to buy, sell, and hold a selection of crypto currencies.