SoFi Technologies reported GAAP net revenue of $697.1 million for the third quarter ended September 30, 2024, an increase of 35% year-over-year. The company achieved GAAP net income of $61 million, with diluted earnings per share of $0.05. Adjusted net revenue also reached $697.1 million, while adjusted EBITDA was $198.0 million, representing a 9% increase from the prior year period.
SoFi added 756,000 new members, bringing total membership to 9.4 million, a 35% year-over-year increase. Total products grew by 1.1 million, reaching over 13.6 million, up 36% year-over-year. The Financial Services and Technology Platform segments combined for 40% of adjusted net revenue, growing 52% year-over-year.
Management raised its full-year 2024 guidance for adjusted net revenue to a range of $2.17 billion to $2.18 billion, up from previous guidance of $2.15 billion to $2.17 billion. Adjusted EBITDA guidance was also increased to $380 million to $390 million, up from $370 million to $380 million.
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