SOFI Nasdaq Russell 1000 Earnings call
SoFi (SOFI) · Q2 2026 results and valuation
Share price: $16.27 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 29 Jul 2026 and 29 Apr 2026
Net income down 6.1% on the previous quarter, guidance raised. Management sounded about as positive as a typical company call, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
−6.1%
Net income vs Q1 2026
Guidance raised
Net income 156.6M vs 166.7M
Revenue +18.6%
2 · How management spoke
Typical
More upbeat than 60% of company calls
Answers to analysts: upbeat, in line with the script.
Similar to last call.
3 · What stood out
Key theme
More members taking multiple products are driving competitive advantage.
Valuation
Is SoFi undervalued?
Reverse DCF on net income from the last full fiscal year (no meaningful free cash flow: a bank, insurer or a year of negative cash flow) (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 10.0% growth a year (3-year revenue growth), the model's fair value is $8.48 a share — the stock trades 92% above it. Today's price assumes 18.3% growth a year.
Current price
$16.27
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+18.3% for 10 yrs
Fair value / share
$8.48
Buy below
$6.36
Price vs fair value
Overvalued 92%
Price vs buy-below price
Overvalued 156%
Read between the lines
-
Guidance ↑
Revenue guidance was raised by about $100 million to $200 million.
Source quote
“So we ended up raising guidance from a revenue perspective, about $100 million to $200 million.”
-
Guidance
Revenue exceeded expectations, yet the full-year forecast was left unchanged.
Source quote
“We've not only maintained our guidance for revenue and profitability, we've exceeded expectations on the revenue side.”
-
Figure
SoFi reported revenue growth of 40% year-over-year and a 30% EBITDA margin.
Source quote
“This included exceptional revenue growth of 40% year-over-year and a 30% EBITDA margin.”
-
Fading
Reinvestment for long-term growth is being balanced with profitability, producing a 13% margin on adjusted net income.
Source quote
“Adjusted net income in the quarter was $160 million at a margin of 13%. Our incremental EBITDA margin was 31% as we continue to balance reinvesting in the business to drive long-term growth and balancing profitability. Adjusted earnings per share were $0.12, which included a negative impact of roughly $0.05 due to higher-than-expected tax rate.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“In addition to our strong revenue growth, we delivered strong profitability during the quarter.”
“The profitability opportunity is not going to go away, but choosing not to invest today would come at the expense of capturing that growth opportunity in the future.”
“On the liability side, total deposits grew by $5.3 billion to $45.5 billion, which included strong growth in member deposits.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 153.6M | 129.5M | +18.6% | 151.9M | +1.1% |
| Operating income | 204.3M | 199.6M | +2.4% | 112.2M | +82.1% |
| Net income | 156.6M | 166.7M | −6.1% | 97.3M | +61.0% |
| EPS | 0.12 | 0.12 | ±0% | 0.08 | +50.0% |
| P/E today 32.5 | 36.6 | 35.3 | +1.3 | 36.4 | +0.2 |
Topics
Most discussed now
- SoFi's GAAP consolidated income statement and all reconciliations can be found in today's earnings release and the subsequent 10-Q…
- SoFi's team has continued to execute at a remarkable level, and its business mix has proven its durability, driving record...
- To its strong revenue growth, SoFi delivered strong profitability during the quarter.
- SoFi is also introducing home equity lines of credit to the mix as well in the coming days.
Faded since Q1 2026
- Fading In the first quarter, these cash revenue streams were nearly equivalent to SoFi's total reported adjusted net revenue.
- Dropped While these businesses have scaled quite meaningfully and they've been around and they're long tenured, there's still innovation that can...
- Fading As such, they don't deliver the holistic experience people need to make their ambitions a reality.
- Fading This is the first time SoFi has disclosed its cash revenue as it thinks it's a helpful financial measure to...
Latest announcements
Official filings, newest first.
- Results of operations · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change · SEC 8-K
- Other events · SEC 8-K
- Other events · SEC 8-K
- Other events · SEC 8-K