SoFi Technologies, Inc.
For the period ended Dec 31, 2025. Filed Feb 17, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 17, 2026
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
Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In Thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating activities | |||
| Net income (loss) | $481,320 | $498,665 | $(300,742) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | |||
| Share-based compensation expense | 262,058 | 246,152 | 271,216 |
| Depreciation and amortization | 234,151 | 203,498 | 201,416 |
| Goodwill impairment | — | — | 247,174 |
| Deferred debt issuance and discount expense | 11,335 | 13,478 | 20,104 |
| Gain on extinguishment of convertible debt | — | (62,517) | (14,574) |
| Provision for credit losses | 30,319 | 31,712 | 54,945 |
| Deferred income taxes | 16,188 | (286,917) | (15,828) |
| Fair value changes in loans held for investment | (351,191) | (158,215) | (44,007) |
| Fair value changes in securitization investments | (1,963) | (2,842) | (48) |
| Other | 13,759 | 9,907 | (9,348) |
| Changes in loans held for sale, net | (5,270,873) | (2,342,980) | (7,708,935) |
| Changes in accrued interest on loans | (45,312) | (24,474) | (74,346) |
| Changes in loans previously classified as held for sale, net | 874,011 | 1,351,283 | 140,856 |
| Changes in servicing assets | (36,050) | (161,659) | (31,604) |
| Changes in other assets | (100,666) | (458,450) | (5,506) |
| Changes in other liabilities | 140,456 | 23,552 | 42,088 |
| Net cash used in operating activities | $(3,742,458) | $(1,119,807) | $(7,227,139) |
| Investing activities | |||
| Purchases of property, equipment and software | $(242,444) | $(154,265) | $(111,409) |
| Capitalized software development costs | (8,673) | (9,352) | (9,783) |
| Purchases of available-for-sale investments | (1,668,262) | (2,190,545) | (800,507) |
| Proceeds from sales of available-for-sale investments | 521,982 | 185,537 | 265,634 |
| Proceeds from maturities and paydowns of available-for-sale investments | 549,555 | 807,804 | 153,828 |
| Purchases of loans held for investment | (2,082,827) | — | — |
| Proceeds from sales of loans held for investment | 392,607 | 677,587 | — |
| Other changes in loans held for investment, net | (4,199,268) | (4,183,379) | (1,362,418) |
| Proceeds from securitization investments | 78,074 | 79,799 | 108,291 |
| Proceeds from non-securitization investments | 41,897 | 3,576 | 5,354 |
| Purchases of non-securitization investments | (101,748) | (37,752) | (66,553) |
| Acquisition of businesses, net of cash acquired | — | — | (72,301) |
| Net cash used in investing activities | $(6,719,107) | $(4,820,990) | $(1,889,864) |
Consolidated Statements of Cash Flows (Continued)
(In Thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Financing activities | |||
| Net change in deposits | $11,248,505 | $6,954,484 | $11,231,904 |
| Proceeds from issuance of common stock | 3,185,618 | — | — |
| Payment of common stock issuance costs | (3,278) | — | — |
| Net change in debt facilities | (1,256,883) | (1,982,644) | 180,554 |
| Proceeds from other debt issuances | — | 845,250 | 339,995 |
| Repayment of other debt | (29,064) | (352,797) | (799,859) |
| Payment of debt issuance costs | (2,981) | (7,620) | (11,903) |
| Purchase of capped calls | — | (90,649) | — |
| Unwind of capped calls | — | 10,180 | — |
| Taxes paid related to net share settlement of share-based awards | (64,986) | (22,601) | (15,300) |
| Proceeds from stock option exercises | 6,935 | 21,407 | 1,145 |
| Proceeds from issuance of common stock under the ESPP | 26,233 | — | — |
| Payment of redeemable preferred stock dividends | — | (16,503) | (40,425) |
| Redemption of Series 1 preferred stock | — | (323,400) | — |
| Finance lease principal payments | (766) | (530) | (509) |
| Net cash provided by financing activities | $13,109,333 | $5,034,577 | $10,885,602 |
| Effect of exchange rates on cash and cash equivalents | (355) | 2 | 677 |
| Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | $2,647,413 | $(906,218) | $1,769,276 |
| Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period | 2,709,360 | 3,615,578 | 1,846,302 |
| Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period | $5,356,773 | $2,709,360 | $3,615,578 |
| Reconciliation to amounts on consolidated balance sheets (as of period end) | |||
| Cash and cash equivalents | $4,929,452 | $2,538,293 | $3,085,020 |
| Restricted cash and restricted cash equivalents | 427,321 | 171,067 | 530,558 |
| Total cash, cash equivalents, restricted cash and restricted cash equivalents | $5,356,773 | $2,709,360 | $3,615,578 |
| Supplemental cash flow information | |||
| Interest paid | $1,146,248 | $1,118,032 | $720,163 |
| Income taxes paid, net | 28,912 | 26,910 | 14,326 |
| Supplemental non-cash investing and financing activities | |||
| Deposits credited but not yet received in cash | $749,000 | $403,056 | $67,257 |
| Deconsolidation of securitization and residual debt | — | — | 92,914 |
| Extinguishment of convertible notes by issuance of common stock | — | 677,147 | 87,047 |
| Derecognition of securitization investments | — | — | 5,325 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.