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 $77.6 million, or 38%, and $187.9 million, or 33%, for the three and nine months ended September 30, 2026 compared to the same periods in 2025, 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 wire fee income, enterprise services, SoFi Plus subscriptions and equity capital markets services.

(4)See Note 3. 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 $27.9 million, or 13%, for the three months ended September 30, 2026 compared to the three months ended September 30, 2025, primarily due to: (i) an increase in interchange fees of $22.4 million, which coincided with increased debit card and credit card transactions; (ii) an increase in brokerage fees of $5.7 million reflecting both growing engagement and stronger monetization from our SoFi Invest product; and (iii) an increase in other noninterest income of $8.3 million driven by the relaunch of SoFi Plus in the second quarter of 2026, which transitioned to a paid subscription model. These increases were partially offset by a decrease in Loan Platform Business revenue of $13.7 million, primarily driven by a decrease in rates.

Nine Months. Noninterest income in our Financial Services segment increased by $146.8 million, or 28%, for the nine months ended September 30, 2026 compared to the nine months ended September 30, 2025, primarily due to: (i) an increase in interchange fees of $49.4 million, which coincided with increased debit card and credit card transactions; (ii) growth in our Loan Platform Business revenue of $45.3 million primarily driven by an increase of $2.3 billion of Loan Platform Business originations; (iii) an increase in brokerage fees of $24.4 million reflecting both growing engagement and stronger monetization from our SoFi Invest product; and (iv) an increase in other noninterest income of $20.0 million driven by the relaunch of SoFi Plus in the second quarter of 2026, which transitioned to a paid subscription model.

Provision for credit losses

Provision for credit losses in our Financial Services segment increased by $5.5 million, or 60%, and $12.5 million, or 50%, for the three and nine months ended September 30, 2026, respectively, compared to the same periods in 2025. The allowance increase of $4.7 million and $10.2 million, respectively, during the three and nine months ended September 30, 2026 primarily reflected growth in the credit card portfolio balances. Net charge-offs increased driven primarily by higher average credit card balances.

Three Months. Financial Services directly attributable expenses increased by $64.5 million, or 35%, for the three months ended September 30, 2026 compared to the three months ended September 30, 2025, primarily due to: (i) an increase in allocated compensation and related benefits which reflected an increase in headcount and salary in 2026 to support growth in the Financial Services segment; (ii) an increase in member incentives utilized to drive adoption and usage of our Financial Services products; (iii) an increase in product fulfillment costs, which included debit card fulfillment services, primarily related to our Money product; and (iv) an increase in intercompany technology platform expenses attributable to increased usage of technology platform services during the period.

Nine Months. Financial Services directly attributable expenses increased by $215.0 million, or 43%, for the nine months ended September 30, 2026 compared to the nine months ended September 30, 2025, primarily due to: (i) a net increase in direct advertising and lead generation costs as we continue to expand our Money and Invest products, and Loan Platform Business; (ii) an increase in allocated compensation and related benefits, which reflected an increase in headcount in 2026 to support growth in the Financial Services segment; (iii) an increase in product fulfillment costs, which included debit card fulfillment services, primarily related to our Money product; (iv) an increase in member incentives utilized to drive adoption and usage of our Financial Services products; and (v) an increase in intercompany technology platform expenses attributable to increased usage of technology platform services during the period.

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.