SoFi Technologies
SOFI · NasdaqFinance Services · Fiscal year ends Dec 31
SoFi Technologies reported revenue of $619M in the fiscal year ended Dec 2025, up 23.1% from the year before. Net income was $481M. Operating cash flow of −$3.7B less capital expenditure of $242M left free cash flow of −$4B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $248M | $377M | $421M | $503M | $619M |
| Cost of revenue | $257M | $313M | $380M | $462M | $609M |
| Gross profit | −$9M | $64M | $41M | $41M | $10M |
| Research & development | $276M | $405M | $511M | $552M | $648M |
| Net interest incomeBanks | $252M | $584M | $1.3B | $1.7B | $2.2B |
| Interest expense | $103M | $189M | $789M | – | – |
| Pre-tax income | −$481M | −$319M | −$301M | $233M | $526M |
| Income tax | $3M | $2M | −$416,000 | −$265M | $45M |
| Net income | −$484M | −$320M | −$301M | $499M | $481M |
| Diluted EPS | −1.00 | −0.40 | −0.36 | 0.39 | 0.39 |
| Diluted shares | 527M | 901M | 945M | 1,101M | 1,252M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $495M | $1.4B | $3.1B | $2.5B | $4.9B |
| Goodwill | $899M | $1.6B | $1.4B | $1.4B | $1.4B |
| Total assets | $9.2B | $19B | $30.1B | $36.3B | $50.7B |
| Deferred revenue | $3M | $10M | $6M | $7M | $9M |
| Long-term debt | $3.9B | $5.5B | – | – | – |
| DepositsBanks | $0 | $7.3B | $18.6B | $26B | $37.5B |
| Total liabilities | $4.5B | $13.5B | $24.5B | $29.7B | $40.2B |
| Shareholders' equity | $4.4B | $5.2B | $5.2B | $6.5B | $10.5B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −$1.4B | −$7.3B | −$7.2B | −$1.1B | −$3.7B |
| Capital expenditure | $52M | $93M | $111M | $154M | $242M |
| Free cash flow | −$1.4B | −$7.3B | −$7.3B | −$1.3B | −$4B |
| Depreciation & amortisation | $102M | $151M | $201M | $203M | $234M |
| Stock-based compensation | $239M | $306M | $271M | $246M | $262M |
| Acquisitions | $0 | −$59M | $72M | $0 | $0 |
| Share buybacks | $526,000 | $0 | $0 | – | – |
| Dividend per share | – | 0.00 | 0.00 | 0.00 | 0.00 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 52.2% | 11.8% | 19.4% | 23.1% |
| EPS growth (YoY) | – | – | – | – | 0.0% |
| Gross margin | −3.7% | 16.9% | 9.8% | 8.2% | 1.7% |
| Net margin | −195.4% | −85.0% | −71.4% | 99.1% | 77.7% |
| Return on equityBlank when equity is negative | −11.1% | −6.2% | −5.7% | 7.6% | 4.6% |
| Free cash flow margin | −566.2% | −1948.9% | −1741.2% | −253.2% | −643.4% |
| Cash conversion (CFO ÷ net income) | 2.79x | 22.6x | 24.0x | −2.25x | −7.78x |
| Debt ÷ equity | 0.90x | 1.05x | – | – | – |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $3.5B | $4.1B | – | – | – |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.