SoFi Posts $241 Million Q3 Net Income as Financial Services Revenue per Product Falls 13%

SoFi Technologies reported third-quarter net income of $241 million, while annualized Financial Services revenue per product fell 13% to $90. The company added 1.2 million members and raised its adjusted net revenue outlook for 2026.

GAAP net revenue increased 44% to $1.385 billion. Adjusted net revenue also rose 44%, to about $1.4 billion, and adjusted net income climbed 74% to $243 million. The quarter’s crypto transaction revenue and related costs are covered in an earlier breakdown of SoFi’s Q3 crypto results.

Financial Services revenue grew 25% to $525.1 million, while products in the segment rose 44% to 23.2 million. Annualized revenue per product was $90, down from $104 a year earlier but up from $88 in the second quarter. The measure divides annualized segment revenue by products; it is not revenue per customer.

Across SoFi, total membership reached 17.1 million, up 35% from a year earlier, and total products rose 44% to 26.7 million. Existing members opened 51% of the quarter’s new products. In Lending, adjusted revenue per product increased to $942 from $782 a year earlier.

SoFi raised its 2026 adjusted net revenue outlook to $5.04 billion and set a 2027 outlook of $6.4 billion. The outlook did not include a target for Financial Services revenue per product.