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SoFi stock fluctuates amid record earnings and crypto pivot

Updated 11 times since CLSTR started tracking revisions of this situation.

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2026-09-06 09:53 UTC → 2026-09-09 09:34 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 by 1.1 million to a total of 15.8 million, while the cross-buy rate increased from 35% to 51%. Despite these gains, management opted not to raise full-year EBITDA or EPS guidance, citing increased spending on growth initiatives and macroeconomic shifts regarding potential interest rate hikes, though the company did raise its full-year revenue guidance. Institutional interest remains a significant factor. Notably, Raiffeisen Bank International AG increased its position in SoFi by 3,383.5% during the second quarter, bringing its total holdings to 44,380 shares. Hedge funds and other institutional investors hold 38.43% of the company’s stock. Recent activity shows Virginia Retirement Systems acquired 526,775 shares in the second quarter, BlackRock Inc. established a new position, and the California State Teachers Retirement System increased its stake by over 1,600%. While operational metrics show strong cross-selling momentum, investors have expressed concerns regarding the company’s increasing reliance on its lending business, raising questions about capital intensity and potential credit risk exposure. In a strategic move to expand its digital footprint, SoFi has partnered with Payward, the parent company of the cryptocurrency exchange Kraken. The partnership aims to bridge traditional banking infrastructure with digital asset markets through three primary components: Payward will join the SoFi Exchange Network to provide Kraken’s institutional clients with 24/7 real-time U.S. dollar settlement; Kraken will list SoFi’s stablecoin, SoFiUSD, on its platform; and SoFi will utilize Kraken Prime as a liquidity source. CEO Anthony Noto stated the partnership aims to build infrastructure for an “always-on economy.”

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