As Everything App Strategy Pulls, Sophie Posts $1.1B in Q1 Revenue

US digital financial services company Sophie Technologies posted net revenue of $1.1 billion for Q1 2026, up 43 percent from a year earlier, and net income grew 134 percent to about $167 million, according to a report on Wednesday.

SoFi continues to grow its customer base and lending platform, adding more than 1 million new members in Q1, for a total of nearly 15 million, and a 39% increase in platform products. Lending volume increased sharply as originations rose 68 percent year-over-year to $12 billion, including strong gains in personal, student and home loans.

The company reports that deposits have reached more than $40 billion and now cover more than 90% of liabilities, significantly reducing funding costs. Financial performance was further strengthened with net interest income increasing 39% to $693 million and adjusted EBITDA increasing 62% to approximately $340 million.

Commenting on the results, SOFI CEO Anthony Noto said new initiatives such as digital assets are helping to expand the platform alongside core business strengths and continued investment and long-term integration growth.

“We had a great Q1, delivering another quarter of sustained growth and strong returns driven by our relentless focus on innovation and brand building. Membership grew 35% and products increased 39%, 43% of new products came from existing members, as more people choose SoFi as their trusted partner for major financial decisions and everything in between,” said Noto.

For the full year, SoFi expects adjusted net income of about $4.6 billion, adjusted EBITDA of about $1.6 billion and adjusted earnings per share of about 60 cents. The company is committed to growing its membership by at least 30% for the year.

Sofi becomes the first US fintech with a full bank charter. In the year By the end of 2025, the company will launch SoFiUSD, a fully-owned US dollar-backed stablecoin issued through a bank branch regulated by the OCC.

Earlier this month, SoFi introduced Big Business Banking, a managed service for enterprise traditional and digital asset management built on NA Chartered Bank's infrastructure. It offers instant payments, large deposit accounts, API-based settlement and blockchain-based tools like SoFiUSD and tokenized deposits.