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SoFi Technologies Inc Ordinary Shares - Stock Quote SOFI

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Morningstar's SoFi Technologies Inc Ordinary Shares Stock Analysis

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Strong Personal Loan Lending Offsets Lower Mortgage Volume for SoFi in Q1; FVE to $15 From $17

Michael Miller Equity Analyst

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.

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SoFi Technologies Inc Ordinary Shares's Company Profile

Business Description

SoFi is a financial services company that was founded in 2011 and is currently based in San Francisco. Initially known for its student loan refinancing business, the company has expanded its product offerings to include personal loans, credit cards, mortgages, investment accounts, banking services, and financial planning. The company intends to be a one-stop shop for its clients' finances and operates solely through its mobile app and website. Through its acquisition of Galileo in 2020 the company also offers payment and account services for debit cards and digital banking.

234 1st Street
San Francisco, CA, 94105
T +1 855 456-7634
Sector Financial Services
Industry Credit Services
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Distressed
Employees 2,500

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