SoFi Technologies : Q4'25 Earnings Presentation

Investor Presentation Q4 2025 January 2026



Highlights

Q4 2025

Durable Growth and Strong Returns Product Innovation and Brand Building

• Record Adjusted Net Revenue of $1.0B (37% YoY)

• Record Adjusted EBITDA of $318M (31% Adjusted EBITDA Margin)

• GAAP Net Income of $174M (17% GAAP Net Income Margin); ninth straight quarter of profitability

• Adjusted EPS of $0.13

• Fee-based Revenue of $443M (+53% YoY) representing 44% of Adjusted Net Revenue

• Financial Services and Tech Platform Revenue contributed

  $579M of Adjusted Net Revenue (+61% YoY)

• Record loan originations of $10.5B in the quarter.

• Personal Loan net charge-offs of 2.80% is down 57bps from the year ago quarter

• Total Deposits grew $4.6B QoQ to nearly $38B

• Tangible Book Value growth of $1.7B QoQ to $8.9B including the benefit of new capital raised

• Set new records in members and products. Added a record 1.0M new members and 1.6M new products.

• Drove brand awareness to an all-time high. Unaided brand awareness reached a record 9.6% reflecting SoFi's strength as a trusted brand name.

• X-buy increased for the fifth consecutive quarter. X-buy reached 40%, 7 points higher than the year ago quarter, demonstrating the power of our one-stop-shop model.

• Further expanded the Loan Platform Business. LPB originations increased to a record $3.7B, up $286M from Q3.

• Launch of SoFiUSD. The launch made SoFi the first national bank to issue a stablecoin on a public, permissionless blockchain.

• Launch of SoFi Smart Card. A game-changing card allowing members to earn significant rewards while also growing their credit score.

Note: Adjusted net revenue, adjusted EBITDA, adjusted EBITDA margin, adjusted EPS, and tangible book value are non-GAAP financial measures. See "Footnotes" and "Financial Supplement" sections for detailed definitions and reconciliations to the nearest GAAP metric. See page 9 for details on fee-based revenue.

Continuous Innovation and Brand Building SoFi has built a diversified, digital financial services platform through continuous innovation



One-Stop Shop for Digital Financial Services SoFi's digital-first platform helps members realize their ambitions

SoFi has developed a suite of financial products that offers the speed, selection, content and convenience that only an integrated digital platform can provide

Crypto

Member Banking Credit Card Invest Loans

SoFi's dedicated member team leverages an AI-driven Coach to provide a personalized experience across the entire SoFi platform

SoFi Money provides members with a high APY, $3M of FDIC insurance, early paychecks, no account fees, and easy money movement features

SoFi offers a suite of credit cards with unique cashback rewards, zero fraud liability, no

surprise fees and automatic credit line reviews

SoFi Invest provides members with tailored insights and investment options that have been traditionally reserved for the ultra-wealthy

SoFi helps members borrow at important life moments whether it is for education, buying a home, consolidating debt or more

SoFi is the only nationally licensed bank providing members with the ability to buy, sell and hold dozens of tokens

SoFi Plus

SoFi's premium membership tier provides benefits that span our offering

Financial Services Productivity Loop FSPL drives high lifetime value of members leading to a sustainable competitive advantage

Financial Services Productivity Loop

• Tremendous opportunity with digitally-oriented generations which comprise half of the American population

• Brand awareness brings new members into the Financial Services Productivity Loop

• A full suite of products and superior value proposition help members spend less than they make and invest the rest - this builds trust and leads members to take out more products

• Strong X-buy and our scalable digital platform lower acquisition costs and improve unit economics, leading to higher member Life-Time-Values (LTVs)

• Higher LTVs allow us to innovate and iterate with new products and features, further strengthening the value proposition and drive sustained member and product growth

• This virtuous cycle is our sustainable competitive advantage

Members and Products Strong member and product growth demonstrate the power of innovation and brand-building

Members (in thousands) (1) Products (in thousands) (2)

CAGR: 41%

13,651

10,127

7,542

5,223

3,460

CAGR: 41%

20,168

14,745

11,142

7,895

5,173

2021 2022 2023 2024 2025 2021 2022 2023 2024 2025

YoY Growth 51% 44% 34% 35% YoY Growth 53% 41% 32% 37%

New Members(3) 1,762 2,354 2,806 3,580 New Products(3) 2,721 3,502 4,141 5,530

Note: Data is year ended 12/31.

Note: See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.

Durable Growth SoFi's diversified business model is built to provide strong growth through different environments

Adjusted Net Revenue ($ in millions) (4) Adjusted EBITDA ($ in millions) (5) Adjusted Net Income ($ in millions) (6)*

$3,591

$1,054

$481

$1,013

$2,606

$2,074

$739

$1,540

$594

$1,010

$280

$443

$318

$666

$198

$432

$181

$143

$30

$227

$61

$174

2021 2022 2023 2024 2025

2021 2022 2023 2024 2025

2021 2022 2023 2024 2025

YoY Growth 52% 35% 26% 38%

Margin 9% 21% 26% 29%

Margin (21)% (3)% 9% 13%

Q4 Adjusted Net Revenue

Q4 Adjusted EBITDA

Q4 Adjusted Net Income

Note: Adjusted net revenue, adjusted EBITDA, and adjusted net income are non-GAAP financial measures. See "Footnotes" and "Financial Supplement" sections for detailed definitions and reconciliations to the nearest GAAP metric.

* Excludes non-recurring benefits related to deferred taxes in 2024, and goodwill impairment in 2023. There were no adjustments to adjusted net income in 2021, 2022, and 2025.

Diversified Revenue Revenue has shifted towards more capital-light, fee-based revenue

Adjusted Net Revenue ($ in millions) (4) Fee-Based Revenue ($ in millions) Fee-Based Revenue Mix

Tech Platform and Financial Services

$1,992

$1,545

$1,217

$789

$483

$253

$579

Q4

$970

$556

$385

$262

$443

Q4

25%

26%

27%

37%

43%

57%

63%

73%

75%

74%

2021 2022 2023 2024 2025

YoY Growth 91% 63% 54% 64%

2021 2022 2023 2024 2025

YoY Growth 47% 45% 74% 59%

2021 2022 2023 2024 2025

Fee-Based Revenue

All Other Adjusted Net Revenue

Note: Adjusted net revenue is a non-GAAP financial measure. See "Footnotes" and "Financial Supplement" sections for detailed definitions and reconciliations to the nearest GAAP metric. Fee-based revenue is comprised of loan origination fees, loan platform fees, referral fees, certain technology platform fees, interchange and brokerage fees.

Long-Term Approach Continued investment in innovation and brand building will drive long-term growth

Adjusted EBITDA Margin (5)

26%

21%

9%

29%

• Balancing profitability with significant reinvestment

• Proven ability to allocate capital and resources to areas where we see the most attractive opportunities

• Investments can be member facing to provide a better experience, strategic to unlock growth opportunities and diversify our business, or focused on strengthening our technology, data, or operations

2022 2023 2024 2025

Adjusted EBITDA margin

Note: Adjusted EBITDA Margin is a non-GAAP financial measure. See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.