SoFi Technologies, Inc.
For the period ended Dec 31, 2025. Filed Feb 17, 2026.
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FY2025 · Filed Feb 17, 2026
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Noninterest Income
The following table presents the components of our total noninterest income:
| Year Ended December 31, · 2025 vs. 2024 · 2024 vs. 2023 | |||||||
|---|---|---|---|---|---|---|---|
| ($ in thousands) | 2025 | 2024 | 2023 | $ Change | % Change | $ Change | % Change |
| Loan origination, sales, securitizations and servicing | $242,947 | $278,114 | $409,140 | $(35,167) | (13)% | $(131,026) | (32)% |
| Technology products and solutions | 360,903 | 350,810 | 323,972 | 10,093 | 3% | 26,838 | 8% |
| Loan platform fees | 575,911 | 141,608 | 33,602 | 434,303 | 307% | 108,006 | 321% |
| Other | 214,637 | 187,846 | 94,335 | 26,791 | 14% | 93,511 | 99% |
| Total noninterest income | $1,394,398 | $958,378 | $861,049 | $436,020 | 45% | $97,329 | 11% |
Total noninterest income increased by $436.0 million, or 45%, for the year ended December 31, 2025 compared to the year ended December 31, 2024, as described below.
Loan Origination, Sales, Securitizations and Servicing
2025 vs. 2024. Loan origination, sales, securitizations and servicing decreased by $35.2 million, or 13%, for the year ended December 31, 2025 compared to the year ended December 31, 2024. The decrease was driven primarily by losses during the 2025 period compared to gains in the 2024 period on interest rate swap positions primarily related to student loans and personal loans, lower fair value gains on personal loans and net higher personal and student loan write-offs. These decreases were partially offset by higher fair value gains on student loans, higher origination fees and higher fair value gains on home loans in the 2025 period primarily impacted by increased loan origination volume.
2024 vs. 2023. Loan origination, sales, securitizations and servicing decreased by $131.0 million, or 32%, for the year ended December 31, 2024 compared to the year ended December 31, 2023. The decrease was driven primarily by higher personal and student loan net charge-offs of $172.5 million, primarily driven by growth in the portfolios and elevated charge off rates, lower fair value gains on personal loans, which were primarily impacted by smaller decreases in discount rate assumptions during 2024, lower fair value gains on student loans, which were primarily impacted by higher discount rate assumptions, and gains on student loan, personal loan and risk retention interest rate swap positions during 2024 compared to losses in 2023, primarily driven by larger increases in interest rates in the 2024 period. Partially offsetting these decreases were higher origination fees primarily related to a product feature offered on personal loans, whereby a borrower may optionally elect to pay origination fees to qualify for a lower annual percentage rate.
Technology Products and Solutions
2025 vs. 2024. Technology products and solutions increased by $10.1 million, or 3%, for the year ended December 31, 2025 compared to the year ended December 31, 2024. The increase was driven by increased processing and service arrangement activity among our integrated technology solutions clients. During 2025, a large client fully transitioned off the platform.
2024 vs. 2023. Technology products and solutions increased by $26.8 million, or 8%, for the year ended December 31, 2024 compared to the year ended December 31, 2023. The increase was driven by increased processing and service arrangement activity among our integrated technology solutions clients as well as account growth.
Loan Platform Fees and Related Servicing
2025 vs. 2024. Loan platform fees and related servicing increased $430.8 million, or 274%, for the year ended December 31, 2025 compared to the year ended December 31, 2024. This increase reflects a full year of Loan Platform Business originations during 2025 compared to the prior year period when the business was fully launched in the third quarter of 2024.
2024 vs. 2023. Loan platform fees and related servicing increased $121.4 million, or 337%, for the year ended December 31, 2024 compared to the year ended December 31, 2023. This increase was driven by growth in our Loan Platform Business which was fully launched in the third quarter of 2024.
The following table presents the components of noninterest income associated with our Loan Platform Business:
| Year Ended December 31, · 2025 vs. 2024 · 2024 vs. 2023 | |||||||
|---|---|---|---|---|---|---|---|
| ($ in thousands) | 2025 | 2024 | 2023 | $ Change | % Change | $ Change | % Change |
| Loan platform fees(1) | $575,911 | $141,608 | $33,602 | $434,303 | 307% | $108,006 | 321% |
| Servicing(2) | 12,347 | 15,825 | 2,464 | (3,478) | (22)% | 13,361 | 542% |
| Loan platform fees and servicing, total noninterest income | $588,258 | $157,433 | $36,066 | $430,825 | 274% | $121,367 | 337% |
(1)Recorded within noninterest income—loan platform feesin the consolidated statements of operations and comprehensive income (loss), and the Financial Services reportable segment.
(2)Recorded within noninterest income—loan origination, sales, securitizations and servicingin the consolidated statements of operations and comprehensive income (loss), and the Lending reportable segment. Amounts reflect revenue from our servicing agreements on loans which we did not originate, excluding the impacts of changes in fair value inputs and assumptions on related servicing rights as they were immaterial for all periods presented.
Other
2025 vs. 2024. Other noninterest income increased $26.8 million, or 14%, for the year ended December 31, 2025 compared to the year ended December 31, 2024. The increase was driven by higher interchange income as a result of an increase in spending volumes across SoFi Money and Credit Card and brokerage income, partially offset by gains on extinguishment of debt during 2024.
2024 vs. 2023. Other noninterest income increased $93.5 million, or 99%, for the year ended December 31, 2024 compared to the year ended December 31, 2023. This increase was driven by gains on extinguishment of debt and an increase in interchange income.
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