SoFi Technologies, Inc.

Previous wording

In order to help achieve our mission, we are a member-centric, everything app for digital financial services that, through our Lending and Financial Services products, allows members to borrow, save, spend, invest and protect their money. We refer to our customers as “members” and “clients” as defined under “Key Business Metrics”. We offer personal loans, student loans, home loans and related servicing and offer a variety of financial services products, such as SoFi Money, SoFi Credit Card, SoFi Crypto, SoFi Invest and SoFi Relay, that provide more daily interactions with our members, as well as products and capabilities, such as SoFi At Work, that are designed to appeal to enterprises. Lending related services that we offer through our Loan Platform Business help a broader range of borrowers to find lending solutions, through our relationships with members as well as third-party enterprise partners. Our Technology Platform supports innovation for a broad range of enterprises, with offerings that give clients the ability to create, launch and run financial products. In addition, SoFi Plus is our premium financial membership product that provides benefits that span our offerings and brings together all we have to offer. At the start of the second quarter, we relaunched SoFi Plus with significantly enhanced benefits in our other products, including Money at 4.5% interest and Invest with a 1% match on all deposits, while fully transitioning the product to a paid subscription model.

Current wording

In order to help achieve our mission, we are a member-centric, everything app for digital financial services that, through our Lending and Financial Services products, allows members to borrow, save, spend, invest and protect their money. We refer to our customers as “members” and “clients” as defined under “Key Business Metrics”. We offer personal loans, student loans, home loans, small business loans and related servicing and offer a variety of financial services products, such as SoFi Money, SoFi Credit Card, SoFi Crypto, SoFi Invest and SoFi Relay, that provide more daily interactions with our members, as well as products and capabilities, such as SoFi At Work, that are designed to appeal to enterprises. Lending related services that we offer through our Loan Platform Business help a broader range of borrowers to find lending solutions, through our relationships with members as well as third-party enterprise partners. Our Technology Platform supports innovation for a broad range of enterprises, with offerings that give clients the ability to create, launch and run financial products. In addition, SoFi Plus is our premium financial membership product that provides benefits that span our offerings and brings together all we have to offer. At the start of the second quarter, we relaunched SoFi Plus with significantly enhanced benefits in our other products, including Money at 4.5% interest and Invest with a 1% match on all deposits, while fully transitioning the product to a paid subscription model.

Previous wording

(1)Loan Platform Business includes activity related to (i) certain loans which we originate on behalf of third-party partners, (ii) referred loans which are originated by a third-party partner to which we provide pre-qualified borrower referrals, (iii) certain loans associated with our Lantern financial services marketplace platform, (iv) servicing rights assumed from third parties, and (v) beginning in the second quarter of 2026, SoFi branded small business loans. Refer to “Our Reportable Segments—Financial Services Segment” and “Our Reportable Segments—Lending Segment” for more information.

Current wording

(1)Loan Platform Business includes activity related to (i) certain personal, home and small business loans which we originate on behalf of third-party partners, (ii) referred loans which are originated by a third-party partner to which we provide pre-qualified borrower referrals, (iii) certain loans associated with our Lantern financial services marketplace platform and (iv) servicing rights assumed from third parties. Refer to “Our Reportable Segments—Financial Services Segment” and “Our Reportable Segments—Lending Segment” for more information.

Previous wording

As a bank holding company, we offer checking and savings accounts, credit cards and crypto trading through SoFi Bank. We are originating all new loans within SoFi Bank, and we intend to continue to explore other products for SoFi Bank over time, including stablecoin issuance and tokenized deposits. The key current and expected financial benefits to us of operating a national bank include: (i) lowering our cost to fund loans, as we can utilize deposits held at SoFi Bank to fund loans, which generally have a lower borrowing cost of funds than warehouse and securitization financing, (ii) increasing our flexibility to hold loans on our balance sheet for longer periods, thereby enabling us to earn interest on these loans for a longer period, (iii) supporting origination volume growth by providing an alternative financing option, while also maintaining our warehouse capacity, and (iv) through deposits, providing us with a channel to obtain meaningful member data that can allow us to better serve our members’ financial needs. See Part II, Item 1A. “Risk Factors” for a discussion of certain potential risks related to being a bank holding company.

Current wording

As a bank holding company, we offer checking and savings accounts, credit cards and crypto trading through SoFi Bank. We are originating all new loans within SoFi Bank, and we intend to continue to explore and enhance other products for SoFi Bank over time, including stablecoin issuance and tokenized deposits. The key current and expected financial benefits to us of operating a national bank include: (i) lowering our cost to fund loans, as we can utilize deposits held at SoFi Bank to fund loans, which generally have a lower borrowing cost of funds than warehouse and securitization financing, (ii) increasing our flexibility to hold loans on our balance sheet for longer periods, thereby enabling us to earn interest on these loans for a longer period, (iii) supporting origination volume growth by providing an alternative financing option, while also maintaining our warehouse capacity, and (iv) through deposits, providing us with a channel to obtain meaningful member data that can allow us to better serve our members’ financial needs. See Part II, Item 1A. “Risk Factors” for a discussion of certain potential risks related to being a bank holding company.

Previous wording

We offer personal loans, student loans, home loans and related servicing to help our members with a variety of financial needs. We believe that our market opportunity within each of these lending channels is significant. Our lending process primarily leverages an in-application, digital borrowing experience, which we believe serves as a competitive advantage as digital lending becomes increasingly ubiquitous. Furthermore, our platform supports the full transaction lifecycle, including credit application, underwriting, approval, funding and servicing. Through data derived at loan origination and throughout the servicing process, SoFi has life-of-loan performance data on each loan in our ecosystem that we originate and on which we retain servicing, which provides a meaningful data asset. Net interest income, which we define as the difference between the earned interest income and interest expense to finance loans, is a key component of the profitability of our Lending segment, along with fee-based revenue, which includes loan origination fees.

Current wording

We offer personal loans, student loans, home loans, small business loans and related servicing to help our members with a variety of financial needs. We believe that our market opportunity within each of these lending channels is significant. Our lending process primarily leverages an in-application, digital borrowing experience, which we believe serves as a competitive advantage as digital lending becomes increasingly ubiquitous. Furthermore, our platform supports the full transaction lifecycle, including credit application, underwriting, approval, funding and servicing. Through data derived at loan origination and throughout the servicing process, SoFi has life-of-loan performance data on each loan in our ecosystem that we originate and on which we retain servicing, which provides a meaningful data asset. Net interest income, which we define as the difference between the earned interest income and interest expense to finance loans, is a key component of the profitability of our Lending segment, along with fee-based revenue, which includes loan origination fees.

Previous wording

Personal Loans. We originate personal loans to help our members with a variety of financial needs, such as debt consolidation, home improvement projects, family planning, travel and weddings, to name a few. We offer fixed rate loans with flexible repayment terms. We generally offer loan sizes of $5,000 to $100,000, subject to legal and/or licensing requirements, with terms generally ranging from 2 to 7 years. We regularly update the annual percentage rates offered on our personal loans.

Current wording

Personal Loans. We originate personal loans to help our members with a variety of financial needs, such as debt consolidation, home improvement projects, family planning, travel and weddings, to name a few. We offer fixed rate loans with flexible repayment terms. We generally offer loan sizes of $5,000 to $100,000, with terms generally ranging from 2 to 7 years. We regularly update the annual percentage rates offered on our personal loans.

Previous wording

Home Loans. We originate agency, non-agency, and certain government loan products (including FHA and VA loans) to members who are purchasing a home, refinancing an existing mortgage, or obtaining a home equity loan. Across our home loan products, we provide competitive rates, flexible down payment options as low as 3% (or 0% for VA loans), a close-on-time guarantee, and educational tools and calculators to support members throughout the borrowing process. When a member’s credit profile or other risk attributes do not align with our underwriting guidelines or risk appetite, we may broker home equity loans and home equity lines of credit to a third-party wholesale lender to help meet the member’s financing needs. During the second quarter of 2026, we launched the SoFi HELOC, a solution for members that want the flexibility to utilize the equity in their primary residence for debt consolidation, emergencies, or any other purpose, with competitive rates, expansive underwriting guidelines, and a fast close. We originate loans in accordance with applicable loan limits and program requirements, including Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) conforming limits and FHA and VA program limits, with FHA and VA loan amounts capped at $1,500,000. We also offer jumbo loans with loan amounts up to $3,000,000 and fixed-rate home equity loans up to $750,000. Our fixed-rate home loans generally have terms of 10, 15, 20, 25 or 30 years. We also offer adjustable-rate mortgage products for conforming and jumbo loans, with an initial fixed-rate period of 5, 7 or 10 years, followed by rate adjustments every six months for the remaining term. For FHA and VA loans, we offer adjustable-rate products with a fixed rate for five years followed by rate adjustments every year for the remainder of the term. We regularly update the annual percentage rates offered on our home loans.

Current wording

Home Loans. We originate agency, non-agency, and certain government loan products (including FHA and VA loans) to members who are purchasing a home, refinancing an existing mortgage, or obtaining a home equity loan. Across our home loan products, we provide competitive rates, flexible down payment options as low as 3% (or 0% for VA loans), a close-on-time guarantee, and educational tools and calculators to support members throughout the borrowing process. When a member’s credit profile or other risk attributes do not align with our underwriting guidelines or risk appetite, we may broker home equity loans and home equity lines of credit to a third-party wholesale lender to help meet the member’s financing needs. During the second quarter of 2026, we launched the SoFi HELOC, a solution for members that want the flexibility to utilize the equity in their primary residence for debt consolidation, emergencies, or any other purpose, with competitive rates, expansive underwriting guidelines, and a fast close. We originate loans in accordance with applicable loan limits and program requirements, including Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) conforming limits and FHA and VA program limits, with FHA and VA loan amounts capped at $1,500,000. We also offer jumbo loans with loan amounts up to $7,000,000 and fixed-rate home equity loans up to $750,000. Our fixed-rate home loans generally have terms of 10, 15, 20, 25 or 30 years. We also offer adjustable-rate mortgage products for conforming and jumbo loans, with an initial fixed-rate period of 5, 7 or 10 years, followed by rate adjustments every six months for the remaining term. For FHA and VA loans, we offer adjustable-rate products with a fixed rate for five years followed by rate adjustments every year for the remainder of the term. We regularly update the annual percentage rates offered on our home loans.

Previous wording

We provide technology platform services through a diversified suite of offerings which include an event and authorization platform accessed via application programming interfaces, a cloud-native digital and core banking platform and services related to both platforms. Our customers and partners include financial institutions, government entities and non-financial institutions primarily in North America and Latin America. We earn technology product and solutions fee-based revenue through the use of the platforms, either as a stand ready obligation, or from overall license and maintenance fee service arrangements related to those respective platforms. We also offer additional add-on technology solutions to support our clients and drive engagement, such as a conversational AI engine for customers of banks and financial institutions, and a real-time payment risk platform which employs AI and machine learning technology to enhance payment fraud mitigation strategies for financial customers. We continue to leverage investments made to integrate our services and offerings to position the Technology Platform segment for diversified durable growth. Our acquisition of Peach, a cloud-native, API-first loan management and servicing platform, in the second quarter of 2026, is intended to further expand our enterprise technology capabilities.

Current wording

We provide technology platform services through a diversified suite of offerings which include an event and authorization platform accessed via application programming interfaces, a cloud-native digital and core banking platform and services related to both platforms. Our customers and partners include financial institutions, government entities and non-financial institutions primarily in North America and Latin America. We earn technology product and solutions fee-based revenue through the use of the platforms, either as a stand ready obligation, or from overall license and maintenance fee service arrangements related to those respective platforms. We also offer additional add-on technology solutions to support our clients and drive engagement, such as a conversational AI engine for customers of banks and financial institutions, and a real-time payment risk platform which employs AI and machine learning technology to enhance payment fraud mitigation strategies for financial customers. We continue to leverage investments made to integrate our services and offerings to position the Technology Platform segment for diversified durable growth. We also launched SoFi Big Business Banking, which enables enterprise partners to hold deposits, move money and settle transactions 24/7 across both fiat currency and digital assets, including SoFiUSD, through API-driven capabilities within our nationally chartered bank. Our acquisition of Peach, a cloud-native, API-first loan management and servicing platform, in the second quarter of 2026, is intended to further expand our enterprise technology capabilities.

Previous wording

A mobile-first investment platform offering members access to trading and advisory solutions, such as active investing and robo-advisory. Our interactive investing experience fosters engagement by allowing members to view and monitor other investors’ activity on the platform. Our active investing service enables members to buy and sell stocks and ETFs, as well as alternative investment funds, mutual funds and money market funds, to engage in options trading, to participate in IPOs, to buy and sell fractional shares, to engage in margin investing and to access a retirement investment account. Our robo-advisory service offers a variety of managed portfolios comprising ETFs and mutual funds that are built and managed by our investment committee with support from an asset management partner. Additionally, we provide introductory brokerage services to our members and have invested heavily to create an appealing mobile investing experience. Our acquisition of Composer, an AI- powered investing platform, in the second quarter of 2026 is intended to advance our strategy of making advanced investing tools more accessible for our members.

Current wording

A mobile-first investment platform offering members access to trading and advisory solutions, including active investing, robo-advisory and systematic investing, each available in both taxable brokerage and individual retirement account types. Our interactive investing experience fosters engagement by allowing members to view and monitor other investors’ activity on the platform. Our active investing service enables members to buy and sell stocks and ETFs, as well as alternative investment funds, mutual funds and money market funds, to engage in options trading, to participate in IPOs, to buy and sell fractional shares, to engage in margin investing and to access a retirement investment account. Our robo-advisory service offers a variety of managed portfolios comprising ETFs and mutual funds that are built and managed by our investment committee with support from an asset management partner. Our systematic investing service, offered through Composer by SoFi following our 2026 acquisition of Composer, an AI-powered investing platform, enables members to create and deploy systematic portfolio strategies within dedicated brokerage accounts. Additionally, we provide introductory brokerage services to our members and have invested heavily to create an appealing mobile investing experience.

Previous wording

In December 2025, we also launched SoFiUSD, our proprietary stablecoin issued on a public, permissionless blockchain, which represented an additional step in expanding our digital asset capabilities. SoFiUSD is intended to support faster, lower-cost and more efficient movement of funds across payment ecosystems. During the first quarter of 2026, we began minting SoFiUSD and started working with Mastercard to support future settlement capabilities across its global payments network. In the second quarter of 2026, we launched SoFiUSD for members, and entered into agreements with third parties to support the distribution of SoFiUSD. These initiatives are intended to enhance interoperability between digital assets and fiat currencies and, over time, facilitate more continuous transaction settlement capabilities.

Current wording

In December 2025, we also launched SoFiUSD, our proprietary stablecoin issued on a public, permissionless blockchain, which represented an additional step in expanding our digital asset capabilities. SoFiUSD is intended to support faster, lower-cost and more efficient movement of funds across payment ecosystems. During the first quarter of 2026, we began minting SoFiUSD and started working with Mastercard to support future settlement capabilities across its global payments network. In the second quarter of 2026, we launched SoFiUSD for members, and entered into agreements with third parties to support the distribution of SoFiUSD. In the third quarter of 2026, we introduced direct funding for crypto purchase, which allows members to buy crypto using a debit card, digital wallet or ACH transfer without a SoFi Money account. We also began a limited launch of SoFiE, our tokenized deposit offering. These initiatives are intended to enhance interoperability between digital assets and fiat currencies and, over time, facilitate more continuous transaction settlement capabilities.

Previous wording

We provide lending related services to a broader set of members through our platform of enterprise partners. Revenue from the Loan Platform Business is fee-based. This includes (i) activity through which third-party partners leverage our end-to-end origination and servicing platform to acquire loans within their credit specifications on a fee per loan basis, (ii) referred loans originated by a third-party partner to which we provide pre-qualified borrower referrals, (iii) activity related to certain loans associated with our Lantern financial services marketplace platform, and (iv) beginning in the second quarter of 2026, small business loans. In addition, we offer loan servicing support through our lending business. See “Lending Segment” for more information.

Current wording

We provide lending related services to a broader set of members through our platform of enterprise partners. Revenue from the Loan Platform Business is fee-based. This includes (i) activity through which third-party partners leverage our end-to-end origination and servicing platform to acquire personal or home loans within their credit specifications on a fee per loan basis, (ii) referred loans originated by a third-party partner to which we provide pre-qualified borrower referrals, (iii) activity related to certain loans associated with our Lantern financial services marketplace platform, (iv) beginning in the second quarter of 2026, small business loans, and (v) beginning in the third quarter of 2026, home equity loans. In addition, we offer loan servicing support through our lending business. See “Lending Segment” for more information.

Previous wording

•SoFi Credit Card: We offer credit card products designed to help eligible members spend better, with benefits and features that fit our members’ everyday spending, borrowing and lifestyle needs, including flexible options to redeem cash back rewards through statement credit or other SoFi products.

Current wording

•SoFi Credit Card: We offer credit card products designed to help eligible members spend better, with benefits and features that fit our members’ everyday spending, borrowing and lifestyle needs, including flexible options to redeem cash back rewards through statement credit or other SoFi products. We also offer a Credit Card with Personal Loan Rollover product that allows eligible members to consolidate their credit card balances to SoFi at a promotional rate for an initial introductory period typically lasting 15 months, after which any remaining balance automatically converts to a personal loan.

Previous wording

•Lantern: A financial services marketplace platform developed to help small businesses and individuals who do not qualify for SoFi products, through a simplified search and application experience that connects these users to alternative financial solutions from a curated network of other providers.

Current wording

•Lantern: A financial services marketplace platform developed to help individuals who do not qualify for SoFi products, through a simplified search and application experience that connects these users to alternative financial solutions from a curated network of other providers.

Previous wording

•SoFi Protect: A service through which we partner with providers who offer insurance products to help our members protect their assets, including providers across auto, life, homeowners, renters, and cyber insurance products and estate planning.

Current wording

•SoFi Protect: A service through which we offer insurance products to help our members protect their assets, including products across auto, life, homeowners and renters insurance, and estate planning.

Previous wording

•SoFi Smart Card: Our recently launched secured charge card product, linked directly to a member’s SoFi Checking and Savings account, that offers better choice and control over spending, attractive rewards, a way to build credit history, and high interest on savings balances.

Current wording

•SoFi Smart Card: A secured charge card product, linked directly to a member’s SoFi Checking and Savings account, that offers better choice and control over spending, attractive rewards, a way to build credit history, and high interest on savings balances.

Previous wording

•Loan Platform Business, other fees: Through our Loan Platform Business, we originate loans on behalf of third-party partners, for which we receive a specified fee upon sale. The fee includes components for a fixed price per loan and recognition of servicing assets. These fees accounted for 56% of our total Financial Services noninterest income for the six months ended June 30, 2026.

Current wording

•Loan Platform Business, other fees: Through our Loan Platform Business, we originate loans on behalf of third-party partners, for which we receive a specified fee upon sale. The fee includes components for a fixed price per loan and recognition of servicing assets. These fees accounted for 55% of our total Financial Services noninterest income for the nine months ended September 30, 2026.

Previous wording

•Referral fees: Through strategic partnerships, we earn a specified referral fee in connection with referral activity we facilitate through our platform, inclusive of referral fees generated through our Loan Platform Business for providing pre-qualified borrower referrals (referred loans) to a third-party partner who separately contracts with a loan originator. Referral fees are paid to us by third-party partners that offer services to end users who do not use one of our product offerings, but who were referred to the partners through our platform. Our referral fee is calculated as either a fixed price per successful referral, a percentage of the funded loan, or a percentage of the transaction volume between the enterprise partners and referred consumers. Total referral fees, inclusive of referral fees generated through our Loan Platform Business, accounted for 12% of our total Financial Services noninterest income for the six months ended June 30, 2026.

Current wording

•Referral fees: Through strategic partnerships, we earn a specified referral fee in connection with referral activity we facilitate through our platform, inclusive of referral fees generated through our Loan Platform Business for providing pre-qualified borrower referrals (referred loans) to a third-party partner who separately contracts with a loan originator. Referral fees are paid to us by third-party partners that offer services to end users who do not use one of our product offerings, but who were referred to the partners through our platform. Our referral fee is calculated as either a fixed price per successful referral, a percentage of the funded loan, or a percentage of the transaction volume between the enterprise partners and referred consumers. Total referral fees, inclusive of referral fees generated through our Loan Platform Business, accounted for 12% of our total Financial Services noninterest income for the nine months ended September 30, 2026.

Previous wording

•Interchange fees: We earn interchange fees from our SoFi-branded debit cards and credit cards. These fees are remitted by merchants and represent a percentage of the underlying transaction value processed through a payment network. We engage a card association and enter into contracts that establish the shared economics of SoFi-branded transaction cards. Interchange fees accounted for 18% of our total Financial Services noninterest income for the six months ended June 30, 2026.

Current wording

•Interchange fees: We earn interchange fees from our SoFi-branded debit cards and credit cards. These fees are remitted by merchants and represent a percentage of the underlying transaction value processed through a payment network. We engage a card association and enter into contracts that establish the shared economics of SoFi-branded transaction cards. Interchange fees accounted for 19% of our total Financial Services noninterest income for the nine months ended September 30, 2026.

Previous wording

•Brokerage fees: We earn brokerage fees primarily from our share lending and payment for order flow arrangements related to our SoFi Invest product, in which we benefit through a negotiated multi-year revenue sharing arrangement, since our members' brokerage activity drives the share lending and payment for order flow volume. Brokerage fees accounted for 8% of our total Financial Services noninterest income for the six months ended June 30, 2026.

Current wording

•Brokerage fees: We earn brokerage fees primarily from our share lending and payment for order flow arrangements related to our SoFi Invest product, in which we benefit through a negotiated multi-year revenue sharing arrangement, since our members' brokerage activity drives the share lending and payment for order flow volume. Brokerage fees accounted for 8% of our total Financial Services noninterest income for the nine months ended September 30, 2026.

Previous wording

SoFi is a financial services company that leverages technology to serve people and enterprises. SoFi's continuous investments in innovation and brand building delivered the strongest financial performance in company history, fueling significant member and product growth and paving the way for future growth. Key financial achievements for the three and six months ended June 30, 2026, include total net revenue of $1.2 billion and $2.3 billion, respectively, both up 43%, compared to the same periods of 2025. For the three and six months ended June 30, 2026, net interest income increased 52% and 46%, respectively, compared to the same periods of 2025, as we increased loan originations for our balance sheet. Total fee-based revenue for the three and six months ended June 30, 2026 reached $472.3 million and $859.1 million, respectively, compared to $377.5 million and $692.9 million in the same 2025 periods, driven by loan originations, interchange and brokerage fee revenue, as well as continued strong Loan Platform Business performance. Diluted EPS for the three and six months ended June 30, 2026 was $0.12 and $0.24, respectively, compared $0.08 and $0.14 in the same 2025 periods.

Current wording

SoFi is a financial services company that leverages technology to serve people and enterprises. We have had very strong performance thus far through 2026 as growth in members and products reflect the strength of our Financial Services Productivity Loop and the compounding effect it has on our results of operations. Key financial achievements for the three and nine months ended September 30, 2026, include total net revenue of $1.4 billion and $3.7 billion, respectively, up 44% and 43%, respectively, compared to the same periods of 2025. For the three and nine months ended September 30, 2026, net interest income increased 59% and 51%, respectively, compared to the same periods of 2025, as we increased loan originations for our balance sheet. Total fee-based revenue for the three and nine months ended September 30, 2026 reached $570.6 million and $1.4 billion, respectively, compared to $408.7 million and $1.1 billion in the same 2025 periods, driven by loan originations, interchange and brokerage fee revenue, as well as continued strong Loan Platform Business performance. Diluted EPS for the three and nine months ended September 30, 2026 was $0.18 and $0.41, respectively, compared to $0.11 and $0.25 in the same 2025 periods.

Previous wording

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 15.8 million as of June 30, 2026, a 35% increase from the prior year period, while total products reached nearly 24.4 million as of June 30, 2026, a 42% year-over-year increase.

Current wording

Total members reached over 17.0 million as of September 30, 2026, a 35% increase from the prior year period, while total products reached nearly 26.7 million as of September 30, 2026, a 44% year-over-year increase.

Previous wording

Lending segment contribution profit was $399.0 million and $781.4 million for the three and six months ended June 30, 2026, respectively, at a segment contribution margin of 55% and 57%. This represents a slight improvement compared to the respective 2025 periods, which had a segment contribution margin of 55% and 56%, respectively. Lending segment performance was driven by growth in net interest income and loan origination fees driven by an increase in loan originations for our balance sheet.

Current wording

Lending segment contribution profit was $454.9 million and $1.2 billion for the three and nine months ended September 30, 2026, respectively, at a segment contribution margin of 55% and 56%. This represents a slight improvement compared to the respective 2025 periods, which had a segment contribution margin of 53% and 55%, respectively. Lending segment performance was driven by continued growth in loan originations which drove an increase in loan origination fees and net interest income.

Previous wording

Origination volume for our Lending products increased 69% for both the three and six months ended June 30, 2026, 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 $4.1 billion and $7.9 billion in personal loans and home loans during the three and six months ended June 30, 2026, respectively. Continued strong demand from our diverse Loan Platform Business partners has allowed us to meet incremental personal loan demand from our members.

Current wording

Origination volume for our Lending products was $16.9 billion and $43.9 billion for the three and nine months ended September 30, 2026, respectively, increasing 71% and 69% over the respective 2025 periods. This was 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 $5.3 billion and $13.1 billion primarily in personal loans and home loans during the three and nine months ended September 30, 2026, respectively. Continued strong demand from our diverse Loan Platform Business partners has allowed us to meet incremental personal and home loan demand from our members.

Previous wording

Technology Platform segment contribution profit of $11.8 million and $23.8 million for the three and six months ended June 30, 2026, respectively, decreased 65% and 63% over the respective 2025 periods, and total net revenue of $84.5 million and $159.6 million for the three and six months ended June 30, 2026, respectively, decreased 23% and 25% over the respective 2025 periods. Technology Platform total enabled client accounts were 135 million, down from 160 million in the prior year period. These results reflected the exit of a large client that fully transitioned off our platform prior to December 31, 2025.

Current wording

Technology Platform segment contribution profit of $14.2 million and $38.0 million for the three and nine months ended September 30, 2026, respectively, decreased 56% and 61% over the respective 2025 periods, and total net revenue of $87.4 million and $247.0 million for the three and nine months ended September 30, 2026, respectively, decreased 24% and 25% over the respective 2025 periods. As of September 30, 2026, Technology Platform total enabled client accounts were 140 million, down from 158 million in the prior year period. These results reflected the exit of a large client that fully transitioned off our platform prior to December 31, 2025.

Previous wording

Within our Financial Services segment, contribution profit of $212.7 million and $408.3 million for the three and six months ended June 30, 2026, respectively, increased 13% and 21% compared to the respective 2025 periods. Total net revenue of $466.3 million and $894.8 million for the three and six months ended June 30, 2026, respectively, increased 29% and 34% over the respective 2025 periods. For the second quarter of 2026, net interest income increased 29% year-over-year, to $249.1 million, primarily driven by growth in consumer deposits. In the second quarter of 2026, we generated $140.9 million in loan platform fees, driven by $3.1 billion of personal loans originated on behalf of third parties, as well as referrals. Additionally, our Loan Platform Business generated $2.4 million in servicing cash flow which is recorded in our Lending segment. In total, our Loan Platform Business added $143.3 million to our consolidated adjusted net revenue across these two segments. We also continued to see healthy growth in interchange fee revenue in the second quarter of 2026, up 55% year-over-year, driven by increased spend across Money and Credit Card. Brokerage fee revenue also continues to see strong growth, increasing 140% year-over-year. These results reflect our successful and ongoing efforts to increase fee-based revenue.

Current wording

Within our Financial Services segment, contribution profit of $261.0 million and $669.3 million for the three and nine months ended September 30, 2026, respectively, increased 16% and 19% compared to the respective 2025 periods. Total net revenue of $525.1 million and $1.4 billion for the three and nine months ended September 30, 2026, respectively, increased 25% and 31% over the respective 2025 periods. For the third quarter of 2026, net interest income increased 38% year-over-year, to $281.3 million, primarily driven by growth in consumer deposits. In the third quarter of 2026, noninterest income increased to $243.8 million driven by our Loan Platform Business and increases in interchange fees and brokerage fees. We generated $151.2 million in loan platform fees, driven by $3.8 billion of Loan Platform Business originations, as well as referrals. Additionally, our Loan Platform Business generated $2.2 million in servicing cash flow which is recorded in our Lending segment. In total, our Loan Platform Business added $153.4 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 2026, up 77% year-over-year, driven by increased spend across Money and Credit Card. Brokerage fee revenue also continues to see strong growth, increasing 47% year-over-year. These results reflect our successful and ongoing efforts to diversify our revenue mix and generate increased fee-based revenue.

Previous wording

We achieved continued strong growth in member deposits and strong deposit contribution from direct deposit members, ending the period with $45.5 billion of total deposits as of June 30, 2026, allowing us to maintain access to diversified sources of funding. Total deposit funds grew nearly $5.3 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.

Current wording

We achieved continued strong growth in member deposits and strong deposit contribution from direct deposit members, ending the period with $51.3 billion of total deposits as of September 30, 2026, allowing us to maintain access to diversified sources of funding. Total deposit funds grew nearly $5.8 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.

Previous wording

Adjusted EBITDA, adjusted EBITDA margin and incremental adjusted EBITDA margin are non-GAAP measures. Adjusted EBITDA is defined as net income, adjusted to exclude, as applicable: (i) corporate borrowing-based interest expense (our adjusted EBITDA measure is not adjusted for warehouse or securitization-based interest expense, nor deposit interest expense and finance lease liability interest expense, as these are direct operating expenses), (ii) income tax expense (benefit), (iii) depreciation and amortization associated with property, equipment and software and intangible assets, (iv) share-based expense (inclusive of equity-based payments to non-employees), (v) foreign currency impacts related to operations in highly inflationary countries, (vi) fair value changes in each of servicing rights and residual interests classified as debt due to valuation assumptions, (vii) restructuring charges, (viii) transaction-related expenses, and (ix) other charges, as appropriate, that are not expected to recur and are not indicative of our core operating performance.

Current wording

Adjusted EBITDA, adjusted EBITDA margin and incremental adjusted EBITDA margin are non-GAAP measures. Adjusted EBITDA is defined as net income, adjusted to exclude, as applicable: (i) corporate borrowing-based interest expense (our adjusted EBITDA measure is not adjusted for warehouse or securitization-based interest expense, nor deposit interest expense and finance lease liability interest expense, as these are direct operating expenses), (ii) income tax expense (benefit), (iii) depreciation and amortization associated with property, equipment and software and intangible assets, (iv) share-based expense (inclusive of equity-based payments to non-employees), (v) foreign currency impacts related to operations in highly inflationary countries, (vi) fair value changes in each of servicing rights and residual interests classified as debt due to valuation assumptions, (vii) restructuring charges, (viii) transaction-related expenses, (ix) certain legal matters, and (x) other charges, as appropriate, that are not expected to recur and are not indicative of our core operating performance.

Previous wording

Adjusted net income, adjusted net income margin, incremental adjusted net income margin and adjusted diluted earnings per share are non-GAAP measures. Adjusted net income is defined as net income, adjusted to exclude, as applicable, transaction-related expense, restructuring charges, goodwill impairment expense and certain income tax benefits that are not expected to recur and are not indicative of our core operating performance.

Current wording

Adjusted net income, adjusted net income margin, incremental adjusted net income margin and adjusted diluted earnings per share are non-GAAP measures. Adjusted net income is defined as net income, adjusted to exclude, as applicable, transaction-related expense, restructuring charges, goodwill impairment expense, certain legal matters and certain income tax benefits that are not expected to recur and are not indicative of our core operating performance.

Previous wording

Adjusted diluted earnings per share (“adjusted EPS”) is a non-GAAP financial measure that adjusts GAAP diluted earnings per share. Adjusted EPS is computed by dividing net income attributable to common stockholders, adjusted to exclude, as applicable, transaction-related expense, restructuring charges, goodwill impairment expense and certain income tax benefits that are not expected to recur and are not indicative of our core operating performance, by the diluted weighted average number of shares of common stock outstanding during the period, excluding the dilutive impact of the 2026 and 2029 convertible notes under the if-converted method for which the 2026 and 2029 capped call transactions, respectively, would deliver cash or shares to offset dilution. The exclusions of transaction-related expense and restructuring charges were effective beginning in the second quarter of 2026. The impact to prior periods was determined to be immaterial, and therefore prior periods were not recast.

Current wording

Adjusted diluted earnings per share (“adjusted EPS”) is a non-GAAP financial measure that adjusts GAAP diluted earnings per share. Adjusted EPS is computed by dividing net income attributable to common stockholders, adjusted to exclude, as applicable, transaction-related expense, restructuring charges, goodwill impairment expense, certain legal matters and certain income tax benefits that are not expected to recur and are not indicative of our core operating performance, by the diluted weighted average number of shares of common stock outstanding during the period, excluding the dilutive impact of the 2026 and 2029 convertible notes under the if-converted method for which the 2026 and 2029 capped call transactions, respectively, would deliver cash or shares to offset dilution. The exclusions of transaction-related expense and restructuring charges were effective beginning in the second quarter of 2026. The impact to prior periods was determined to be immaterial, and therefore prior periods were not recast.

Previous wording

Since our inception through June 30, 2026, we have served approximately 15.8 million members who have used approximately 24.4 million products on the SoFi platform.

Current wording

Since our inception through September 30, 2026, we have served approximately 17.1 million members who have used approximately 26.7 million products on the SoFi platform.

Previous wording

In our Financial Services segment, total products refers to the number of SoFi Money accounts (inclusive of checking and savings accounts held at SoFi Bank and cash management accounts), SoFi Invest accounts, SoFi Credit Card accounts (including Smart Card accounts and accounts with a zero dollar balance at the reporting date), referred loans (which are originated by a third-party partner to which we provide pre-qualified borrower referrals), SoFi At Work accounts, SoFi Relay accounts (with either credit score monitoring enabled or external linked accounts), and SoFi Crypto accounts that have been opened through our platform through the reporting date, as well as active SoFi Plus subscriptions as of the reporting date. Checking and savings accounts are considered one account within our total products metric. Our SoFi Invest service is composed of four products: IRA self-directed accounts, taxable self-directed accounts, IRA robo-advisory accounts, and taxable robo-advisory accounts. Our members can select any one or combination of the SoFi Invest products. If a member has multiple SoFi Invest accounts of the same products, such as one IRA self-directed account and one IRA robo-advisory account (or one tax-advantaged brokerage account and one taxable brokerage account), those are considered separate products. The account of a joint- or co-account holder is considered a separate financial services product. In the event a member is removed in accordance with our terms of service, as discussed under“Members” above, the member’s associated products are also removed.

Current wording

In our Financial Services segment, total products refers to the number of SoFi Money accounts (inclusive of checking and savings accounts held at SoFi Bank and cash management accounts), SoFi Invest accounts, SoFi Credit Card accounts (including Smart Card accounts, credit card with personal loan rollover loans and accounts with a zero dollar balance at the reporting date), referred loans (which are originated by a third-party partner to which we provide pre-qualified borrower referrals), SoFi At Work accounts, SoFi Relay accounts (with either credit score monitoring enabled or external linked accounts), and SoFi Crypto accounts that have been opened through our platform through the reporting date, as well as active SoFi Plus subscriptions as of the reporting date. Checking and savings accounts are considered one account within our total products metric. Our SoFi Invest service is composed of six products: IRA self-directed accounts, taxable self-directed accounts, IRA robo-advisory accounts, taxable robo-advisory accounts, systematic taxable accounts and IRA systematic accounts. Our members can select any one or combination of the SoFi Invest products. If a member has multiple SoFi Invest accounts of the same products, such as one IRA self-directed account and one IRA robo-advisory account (or one tax-advantaged brokerage account and one taxable brokerage account), those are considered separate products. The account of a joint- or co-account holder is considered a separate financial services product. In the event a member is removed in accordance with our terms of service, as discussed under“Members” above, the member’s associated products are also removed.

Previous wording

(2)Beginning in the first quarter of 2026, we updated our SoFi Invest product metric to reflect four products. Prior to this, our SoFi Invest service was composed of two products, self-directed accounts and robo-advisory accounts. Self-directed accounts were previously referred to as active investing accounts. The impact to prior periods was determined to be immaterial, and prior periods were not recast.

Current wording

(2)Beginning in the first quarter of 2026, we updated our SoFi Invest product metric to reflect four products. Prior to this, our SoFi Invest service was composed of two products, self-directed accounts and robo-advisory accounts. Self-directed accounts were previously referred to as active investing accounts. The impact to prior periods was determined to be immaterial, and prior periods were not recast. Beginning in the third quarter of 2026, we further updated our SoFi Invest product metric to reflect two additional products. The two new products, systematic taxable accounts and systematic IRA accounts, reflect our acquisition of Composer, through which members create and deploy systematic portfolio strategies in separate brokerage accounts. The impact to prior periods was determined to be immaterial, and prior periods were not recast.

Previous wording

(3)Beginning in the second quarter of 2026, we updated our Financial Services products to include (i) SoFi Plus, which we relaunched during the quarter with significantly enhanced benefits, while fully transitioning the product to a paid subscription model; and (ii) Smart Card, our recently launched secured card (presented above within Credit Card). The impact to prior periods was determined to be immaterial, and prior periods were not recast.

Current wording

(3)Beginning in the second quarter of 2026, we updated our Financial Services products to include (i) SoFi Plus, which we relaunched during the quarter with significantly enhanced benefits, while fully transitioning the product to a paid subscription model; and (ii) Smart Card, our secured card (presented above within Credit Card). Beginning in the third quarter of 2026, we updated these products to include Credit Card with Personal Loan Rollover, which is a product that allows members to consolidate their credit card balances to SoFi for a period of time, after which any remaining balance automatically converts to a personal loan. The impact to prior periods for each of these products was determined to be immaterial, and prior periods were not recast.

Previous wording

In our Technology Platform segment, total accounts refers to the number of open accounts at Galileo as of the reporting date. We include intercompany accounts on the Galileo platform as a service in our total accounts metric to better align with the Technology Platform segment revenue reported in Note 17. Business Segment Information to the Notes to Condensed Consolidated Financial Statements, which includes intercompany revenue. Intercompany revenue is eliminated in consolidation. Total accounts is a primary indicator of the accounts dependent upon our technology platform to use virtual card products, virtual wallets, make peer-to-peer and bank-to-bank transfers, receive early paychecks, separate savings from spending balances, make debit transactions and rely upon real-time authorizations, all of which result in revenues for the Technology Platform segment. We do not measure total accounts for other products and solutions for which the revenue model is not primarily dependent upon being a fully integrated, stand-ready service.

Current wording

In our Technology Platform segment, total accounts refers to the number of open accounts at SoFi Technology Solutions as of the reporting date. We include intercompany accounts on the SoFi Technology Solutions platform as a service in our total accounts metric to better align with the Technology Platform segment revenue reported in Note 17. Business Segment Information to the Notes to Condensed Consolidated Financial Statements, which includes intercompany revenue. Intercompany revenue is eliminated in consolidation. Total accounts is a primary indicator of the accounts dependent upon our technology platform to use virtual card products, virtual wallets, make peer-to-peer and bank-to-bank transfers, receive early paychecks, separate savings from spending balances, make debit transactions and rely upon real-time authorizations, all of which result in revenues for the Technology Platform segment. We do not measure total accounts for other products and solutions for which the revenue model is not primarily dependent upon being a fully integrated, stand-ready service.

Previous wording

The U.S. economic environment continues to be influenced by evolving monetary policy, inflation trends, labor market conditions and broader geopolitical developments. While inflation has moderated from peak levels, uncertainty regarding its future path remains elevated, particularly as fluctuations in global energy prices, supply chain dynamics and trade policy continue to influence inflation expectations. Geopolitical developments, including ongoing conflict and changing prospects for peace in the Middle East, have contributed to volatility in oil prices and broader financial markets. Sustained increases in energy prices or renewed inflationary pressures could adversely affect consumer purchasing power, economic growth and financial market conditions.

Current wording

The U.S. economic environment continues to be influenced by evolving monetary policy, inflation trends, labor market conditions and broader geopolitical developments. Economic growth has remained positive, but the pace and durability of growth remain subject to uncertainty. Inflationary pressures have moderated from prior peak levels but remain above the Federal Reserve’s longer-term objective, with renewed pressure from energy prices, supply-chain conditions and trade policy. Geopolitical developments, including the ongoing conflict in the Middle East and related disruptions to energy markets and global trade routes, have contributed to volatility in oil prices and broader financial markets. Sustained increases in energy prices or renewed inflationary pressures could adversely affect consumer purchasing power, economic growth and financial market conditions.

Previous wording

In May 2026, Kevin Warsh became Chair of the Federal Reserve and has emphasized a data-driven approach to monetary policy, indicating that future policy decisions will depend on incoming economic data. While the direction and timing of future interest rate changes remain uncertain, the Federal Reserve has continued to emphasize its commitment to restoring price stability while balancing broader economic conditions. As a result, expectations regarding monetary policy have remained subject to changing inflation, employment and economic data, contributing to continued volatility in benchmark interest rates, credit spreads and capital markets.

Current wording

In May 2026, Kevin Warsh became Chair of the Federal Reserve. The Federal Reserve has continued to emphasize a data-dependent approach to monetary policy, balancing its objectives of achieving maximum employment and restoring price stability. In September 2026, the Federal Reserve increased the target range for the federal funds rate by 25 basis points to 3.75% to 4.00%. The future direction and timing of additional changes in interest rates remain uncertain and will depend on incoming inflation, employment and economic data. These conditions have contributed to continued volatility in benchmark interest rates, credit spreads and capital markets.

Previous wording

Changes in interest rates and broader macroeconomic conditions directly influence consumer spending, saving, borrowing and investing behavior. Elevated interest rates have reduced demand for refinancing products and may continue to affect demand across certain lending products. Interest rate volatility also influences the economics of our capital markets activities, including loan pricing, funding costs, gain-on-sale margins and investor demand for consumer credit assets. In addition, changes in benchmark interest rates, inflation expectations and credit spreads may affect the pricing, execution and liquidity of loan sales and securitization transactions.

Current wording

Changes in interest rates and broader macroeconomic conditions directly influence consumer spending, saving, borrowing and investing behavior. Elevated interest rates and affordability pressures have reduced demand for refinancing products and may continue to affect demand across certain lending products. A potentially weakening labor market, higher energy costs and elevated household expenses may also affect consumer liquidity, repayment behavior and credit performance. Interest rate volatility influences the economics of our capital markets activities, including loan pricing, funding costs, gain-on-sale margins and investor demand for consumer credit assets. In addition, changes in benchmark interest rates, inflation expectations, credit spreads and market liquidity may affect the pricing, execution and liquidity of loan sales and securitization transactions.

Previous wording

Our results of operations have historically demonstrated relative resilience during periods of economic stress, supported by our diversified business model. However, our future operating results and cash flows remain dependent upon the strength of the overall economy, consumer financial health, the condition and liquidity of the capital markets and our ability to continue executing our business strategy.

Current wording

Our results of operations have historically demonstrated relative resilience during periods of economic stress, supported by our diversified business model. However, our future operating results, financial condition and cash flows remain dependent upon the strength of the overall economy, consumer financial health, employment conditions, the performance of our loan portfolios, the condition and liquidity of the capital markets and our ability to continue executing our business strategy. Changes in macroeconomic conditions could adversely affect loan demand, credit performance, funding costs, capital markets execution and the value of financial assets.

Previous wording

We measure our personal loans, student loans and home loans at fair value. Our fair value adjustments on loans impact our consolidated results of operations and include adjustments related to loans originated during the period, loans held at the balance sheet date, as well as gains (losses) on loans sold or repurchased during the period. Fair value adjustments made in each reporting period are impacted by factors such as, among others, interest rates, weighted average coupon, credit spreads, actual and estimated losses, prepayment speeds, duration and previous loan sale execution on similar loans. In determining our fair value assumptions, we incorporate recent data impacting the capital markets, as well as factors specific to us. Changes in these factors, either positive or negative, can have a material impact on our results of operations.

Current wording

We measure our personal loans, student loans, home loans, and small business loan at fair value. Our fair value adjustments on loans impact our consolidated results of operations and include adjustments related to loans originated during the period, loans held at the balance sheet date, as well as gains (losses) on loans sold or repurchased during the period. Fair value adjustments made in each reporting period are impacted by factors such as, among others, interest rates, weighted average coupon, credit spreads, actual and estimated losses, prepayment speeds, duration and previous loan sale execution on similar loans. In determining our fair value assumptions, we incorporate recent data impacting the capital markets, as well as factors specific to us. Changes in these factors, either positive or negative, can have a material impact on our results of operations.

Previous wording

As of the second quarter of 2026 relative to the first quarter of 2026, we observed the following trends:

Current wording

As of the third quarter of 2026 relative to the second quarter of 2026, we observed the following trends:

Previous wording

•The personal loan annualized charge-off rate decreased to 2.62% from 3.03% in the prior quarter, including the impact of asset sales, new originations and delinquency sales in the quarter. This was a reflection of our members as well as strong growth in personal loans.

Current wording

•The personal loan annualized charge-off rate decreased to 2.26% from 2.62% in the prior quarter. This was driven by an improvement in the underlying performance as well as strong growth in average loans.