SoFi Technologies (NASDAQ:SOFI) shares have jumped premarket Monday after the company's latest quarterly earnings topped analyst consensus expectations, while it also raised its full-year guidance.
SoFi reported a Q3 loss per share of $0.03, $0.05 better than the analyst estimate of a $0.08 loss per share. Revenue for the quarter was $537 million, jumping 27% YoY and coming in above the consensus estimate of $511.13 million. SoFi also reported a record adjusted EBITDA of $98 million, up 121% YoY.
"We delivered another quarter of record financial results and generated our tenth consecutive quarter of record adjusted net revenue of $531 million," said Anthony Noto, CEO of SoFi.
The company also said it saw record new member adds of 717,000 and accelerating growth of 47% for total ending members of over 6.9 million, alongside record new product adds of over 1 million.
"Record revenue at the company level was driven by record revenue across all three of our business segments, with 67% of adjusted net revenue growth coming from our non-Lending segments (Technology Platform and Financial Services segments).
On a consolidated level, we saw sequential and year-over-year expansion in our net interest margin to 5.99% and record sequential deposit growth of $2.9 billion," added Noto.