SoFi's Q4 revenue surpasses $1 billion for the first time, with profits reaching $174 million

Jinse Finance reported that fintech company SoFi Technologies announced a GAAP net profit of $173.5 million for the three months ended December 31, marking its ninth consecutive profitable quarter. SoFi stated that adjusted net revenue reached a record $1.013 billion, up 37% from the same period last year. Adjusted EBITDA was $317.6 million, a year-on-year increase of 60.6%, with a profit margin of 31%. As a key diversification metric, fee-based income surged 53% to a record $443.3 million. According to the statement, the lender added 1.027 million new members in the fourth quarter, a 35% year-on-year increase, bringing its total membership to 13.7 million. The number of new products added also reached a record 1.6 million, with SoFi’s financial services products growing by 38% to 17.5 million. The company noted that during this period, the growth of products such as SoFi Money, Relay, and Invest accounted for 89% of total product expansion, and net revenue from the financial services segment reached $456.7 million, a 78% increase compared to the fourth quarter of last year.