synopsis

The company’s first-quarter net revenue rose 20% to $771.76 million, beating an analyst estimate of $738.91 million.

Shares of digital financial services provider SoFi Technologies, Inc. (SOFI) traded over 2% higher on Tuesday morning after the company reported upbeat first-quarter earnings and increased its guidance for full year 2025.

SoFi Technologies’ first-quarter net revenue rose 20% to $771.76 million, beating an analyst estimate of $738.91 million.

A record 800,000 new members joined SoFi during the quarter, taking member growth up by 34% to 10.9 million, the company said. SoFi recorded 1.2 million new products, bringing the total number of products to 15.9 million.

Adjusted earnings per share for the period came in at $0.06, representing a 200% year-over-year growth and exceeding the estimated $0.03.

Net income attributable to common stockholders jumped 217% YoY to $71.46 million.

CEO Anthony Noto said that the company is off to a “tremendous start” in 2025. “We delivered our highest revenue growth rate in five quarters, driven by new records in members, products, and fee-based revenue,” he said.

“With strong momentum in the first quarter, we are both accelerating our rate of innovation and increasing our financial guidance for 2025.”

For the full year 2025, the company expects adjusted net revenue of $3.235 billion to $3.310 billion, up from its prior guidance range of $3.200 to $3.275 billion.

The company expects full-year GAAP EPS of $0.27 to $0.28 per share, above its prior guidance of $0.25 to $0.27 per share. GAAP net income is expected to be $320 million to $330 million, above its previous guidance of $285 to $305 million.

The company anticipates adding at least 2.8 million new members in 2025.

For the second quarter, management expects $785 million to $805 million of adjusted net revenue, $60 to $70 million of GAAP net income, and $0.05 to $0.06 of GAAP EPS.

SOFI stock is down by about 4% so far this year, but has nearly doubled its value over the past 12 months.

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