SoFi Technologies reported record adjusted net revenue of $770.7 million for the first quarter of 2025, representing a 33% increase year-over-year, which is the highest growth rate in five quarters. The company achieved GAAP net income of $71.1 million, resulting in diluted earnings per share of $0.06. Adjusted EBITDA reached a record $210.3 million, up 46% year-over-year, with an adjusted EBITDA margin of 27%.
SoFi added a record 800,000 members in Q1 2025, bringing total members to over 10.9 million, a 34% increase year-over-year. Total products grew by 1.2 million, reaching over 15.9 million, up 35% year-over-year. Fee-based revenue hit a record $315.4 million, soaring 67% compared to the prior year period, driven by strong performance from the Loan Platform Business, which contributed $96.1 million to consolidated adjusted net revenue.
Management raised its full-year 2025 guidance, projecting adjusted net revenue between $3.235 billion and $3.310 billion, representing 24% to 27% year-over-year growth. Adjusted EBITDA is now expected to be between $875 million and $895 million, resulting in a 27% margin, with adjusted net income guided to $320 million to $330 million and adjusted EPS of $0.27 to $0.28.
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