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SoFi stock fluctuates amid record earnings and crypto pivot

Updated 17 times since CLSTR started tracking revisions of this situation.

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2026-10-08 18:01 UTC → 2026-10-12 15:44 UTC · added ~~removed~~

SoFi Technologies continues to report record financial results following its Q2 2026 earnings, though its stock price remains under pressure. While the company reported revenue of approximately $1.2 billion—a 40% year-over-year increase—and an EPS of $0.12, the stock has struggled to maintain momentum, facing resistance near the $20 mark and a roughly 30% decline over the past year. Key financial metrics include a record adjusted EBITDA of $358 million (up 44%) and a 65% year-over-year increase in adjusted net income to $160 million, representing a 13% net profit margin. Membership grew to 15.8 million, a 35% year-over-year increase, with 24.4 million products in use. Following its transition into a national bank via the acquisition of Golden Pacific Bancorp, SoFi’s deposit base has grown to approximately $45.5 billion. The company also operates Galileo, a digital payment processor hosting 135 million accounts. Full-year financial projections suggest adjusted revenue growth between 32% and 35%, though Federal Reserve interest rate hikes may impact lending activity and credit default risks. In a significant technological expansion, SoFi Bank has officially launched a stablecoin-based settlement system for its debit and credit card programs via Mastercard’s global payments network. This makes SoFi the first nationally chartered U.S. bank to utilize stablecoin settlement on this network. The company is migrating its entire card program, expected to process an annualized volume of over $25 billion, to this blockchain-based mechanism. SoFiUSD is issued by SoFi Bank, N.A., regulated by the OCC, and is redeemable 1:1 for U.S. dollars. While merchants using SoFi’s Big Business Banking platform can receive settlement funds directly and withdraw them 24/7 without fees, SoFi noted that SoFiUSD is “not a bank deposit and is not covered by FDIC or SIPC insurance.”

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