Analyst Note
| Michael Miller |No-moat rated SoFi Technologies announced decent first-quarter results, though the report was marred by soft guidance and an unintended early release of the report itself. SoFi’s revenue grew 68.5% year over year and 15.7% sequentially to $330 million. That said, SoFi continues to spend aggressively, and despite strong revenue growth, the company reported a net loss of $0.14 per share. Along with the release the company raised its 2022 revenue guidance to between $1.505 billion and $1.510 billion, though its second-quarter guidance of $330 million to $340 million in revenue and $5 million to $15 million in adjusted EBITDA was lower than our expectations.