SoFi Technologies, Inc.

Financial Services Segment Results of Operations

The following table presents the measure of contribution profit for the Financial Services segment:

(1)Other expenses primarily include operational product losses, network servicing fees, travel and occupancy-related costs, tools and subscriptions, and marketing expenses.

Net interest income in our Financial Services segment increased by $49.5 million, or 32%, and $157.1 million, or 38%, for the three and nine months ended September 30, 2025,respectively compared to the same periods in 2024, which was primarily attributable to net interest income earned on our deposits which includes interest income based on our FTP framework (which is eliminated in consolidation) and interest expense to members. This net increase corresponds with the growth of our SoFi Money product and related deposits at SoFi Bank.

The table below presents revenue from contracts with customers disaggregated by type of service, as well as a reconciliation of total revenue from contracts with customers tototal noninterest incomefor the Financial Services segment.

(1)Presented within noninterest income—loan platform feesin the condensed consolidated statements of operations and comprehensive income.

(2)Presented within noninterest income—other in the condensed consolidated statements of operations and comprehensive income.

(3)Includes revenues from enterprise services and equity capital markets services.

(4)See Note 2. Revenue to the Notes to Condensed Consolidated Financial Statements for additional information.

(5)Presented within noninterest income—other andnoninterest income—loan origination, sales, securitizations and servicing in the condensed consolidated statements of operations and comprehensive income.

Three Months. Noninterest income in our Financial Services segment increased by $131.8 million, or 157%, for the three months ended September 30, 2025 compared to the three months ended September 30, 2024, primarily due to: (i) growth in our Loan Platform Business of $109.3 million, which includes increases in loan platform fees related to revenue from loans which we originate on behalf of third parties in order to subsequently sell as well as pre-qualified borrower referrals to third-party loan origination partners as we continue to drive volume to our partners; and (ii) an increase in interchange fees of $10.3 million, which coincided with increased credit card and debit card transactions.

Nine Months. Noninterest income in our Financial Services segment increased by $363.2 million, or 239%, for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, primarily due to: (i) growth in our Loan Platform Business of $306.7 million, which includes increases in loan platform fees related to revenue from loans which we originate on behalf of third parties in order to subsequently sell as well as pre-qualified borrower referrals to third-party loan origination partners as we continue to drive volume to our partners; and (ii) an increase in interchange fees of $33.2 million, which coincided with increased credit card and debit card transactions.

Provision for credit losses

Provision for credit losses in our Financial Services segment increased by $3.2 million, or 53%, and $0.1 million, or —%, for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024. The allowance increase of $2.8 million and $4.0 million, during the three and nine months ended September 30, 2025, respectively, primarily reflected growth in the credit card portfolio balances, partially offset by continued improvement in credit quality of the portfolio. Net charge-offs decreased primarily related to improvement in credit card delinquency rates (total credit card delinquency rate was 3.3% as of September 30, 2025, down approximately 200 bps from the comparative period) as a result of tighter underwriting standards and risk mitigation actions.

Three Months. Financial Services directly attributable expenses increased by $52.3 million, or 39%, for the three months ended September 30, 2025 compared to the three months ended September 30, 2024, primarily due to: (i) a net increase in direct advertising and lead generation costs as we continue to expand our Loan Platform Business; (ii) an increase in intercompany expenses attributable to increased usage of technology platform services during the 2025 period; and (iii) an increase in allocated compensation and related benefits which reflected an increase in headcount and increases in average compensation in 2025 to support growth in the Financial Services segment.

Nine Months. Financial Services directly attributable expenses increased by $150.3 million, or 43%, for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, primarily due to: (i) a net increase in direct advertising and lead generation costs as we continue to expand our Loan Platform Business and our SoFi Money product ; (ii) an increase in intercompany expenses attributable to increased usage of technology platform services during the 2025 period; and (iii) an increase in allocated compensation and related benefits which reflected an increase in headcount and increases in average compensation in 2025 to support growth in the Financial Services segment.

In the table below, we present the total products metric related to our Financial Services segment:

Total products in our Financial Services segment is a subset of our total products metric. See “Key Business Metrics” and “Business Overview” for a further discussion of this measure as it relates to our Financial Services segment.