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Investor Presentation Q2 2025 July 2025
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 2 Disclaimer Use of Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures (including on a forward-looking basis) such as Adjusted Net Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EPS, ROTCE, Adjusted Net Income, Adjusted Net Income Margin, Incremental Adjusted EBITDA, Adjusted Noninterest Income, and Tangible Book Value. These non-GAAP measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to any performance measures derived in accordance with GAAP. Reconciliations of non-GAAP measures to their most directly comparable U.S. Generally Accepted Accounting Principles (GAAP) counterparts are included in the Non-GAAP Reconciliations section of this presentation. SoFi believes that these non-GAAP measures of financial results (including on a forward-looking basis) provide useful supplemental information to investors about SoFi. SoFi’s management uses non-GAAP measures to evaluate our operating performance, formulate business plans, help better assess our overall liquidity position, and make strategic decisions, including those relating to operating expenses and the allocation of internal resources. However, these non-GAAP measures have limitations as analytical tools. Other companies may not use these non-GAAP measures or may use similar measures that are defined in a different manner. Therefore, SoFi’s non-GAAP measures may not be directly comparable to similarly titled measures of other companies. Additionally, forward- looking non-GAAP financial measures are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP measures because the GAAP financial measures are not accessible on a forward-looking basis and reconciling information is not available without unreasonable effort due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, including adjustments reflected in our reconciliation of historic non-GAAP financial measures, the amounts of which, based on historical experience, could be material. Cautionary Statement Regarding Forward-Looking Statements Certain of the statements in this document are forward-looking and as such are not historical facts. This includes, without limitation, statements regarding our expectations for the third quarter of 2025 and full year 2025 adjusted net revenue, annual growth rate, adjusted EBITDA, adjusted EBITDA margin, adjusted net income, fee-based revenue, GAAP net income, GAAP net income incremental margin, GAAP EPS, adjusted EPS tangible book value, and new members, our expectations regarding our ability to continue to grow our business, build our brand and launch new business lines and products, our ability to continue to attract and execute deals, our ability to continue to improve our financials and increase our member, product and total accounts count, our ability to achieve diversified and more durable growth, including our ability to continue to grow our Loan Platform Business, our ability to continue the momentum seen in prior financial periods, our ability to have loss rates below 8%, our ability to navigate the macroeconomic, geopolitical and regulatory environment, any changes in demand for our products, and the financial position, business strategy and plans and objectives of management for our future operations. These forward-looking statements are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. Words such as “achieve”, “believe”, “continue”, “expect”, “capable”, “future”, “growth”, “may”, “opportunity”,“plan”, “potential”, “strategy”, “will be”, “will continue”, and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include: (i) the effect of and our ability to respond and adapt to changing market and economic conditions, including economic downturns, fluctuating inflation and interest rates, and volatility from macroeconomic, global, and political events, including announced or planned tariffs; (ii) our ability to maintain net income profitability, continue to increase fee-based revenue streams, continue to grow across our segments in the future, as well as our ability to meet our guidance; (iii) the impact on our business of the regulatory environment, changes in governmental policies, changes in personnel and resources of the governmental agencies that regulate us, and complexities with compliance related to such environment; (iv) our ability to realize the benefits of being a bank holding company and operating SoFi Bank, including continuing to grow high quality deposits and our rewards program for members; (v) our ability to continue to drive brand awareness and realize the benefits of our marketing and advertising campaigns; (vi) our ability to vertically integrate our businesses and accelerate the pace of innovation of our financial products; (vii) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (viii) our ability to access sources of capital on acceptable terms or at all; (ix) the success of our continued investments in our business; (x) our ability to expand our member base and increase our product adds; (xi) our ability to maintain our leadership position in certain categories of our business and to grow market share in existing markets or any new markets we may enter; (xii) our ability to cater to a broad range of clients and continue to execute deals with current or future business partners; (xiii) our ability to develop new products, features and functionality that are competitive and meet market needs; (xiv) our ability to realize the benefits of our strategy, including what we refer to as our FSPL; (xv) our ability to make accurate credit and pricing decisions or effectively forecast our loss rates; (xvi) our ability to establish and maintain an effective system of internal controls over financial reporting; (xvii) our ability to maintain the security and reliability of our products; and (xviii) the outcome of any legal or governmental proceedings instituted against us. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties set forth in the section titled “Risk Factors” in our last annual report on Form 10-K and quarterly report on Form 10-Q, as filed with the Securities and Exchange Commission, and those that are included in any of our future filings with the Securities and Exchange Commission. These forward- looking statements are based on information available as of the date hereof and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. You should not place undue reliance on these forward-looking statements.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 3 Highlights Q2 2025 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. Durable Growth and Strong Returns Product Innovation and Brand Building • Record Adjusted Net Revenue of $858M (44% YoY), an acceleration and highest growth rate in over two years • Record Adjusted EBITDA of $249M (29% Adjusted EBITDA Margin) • GAAP Net Income of $97M (11% GAAP Net Income Margin) • Record Adjusted EPS of $0.08; seventh straight quarter of profitability • Fee-based Revenue of $378M (+72% YoY) representing 44% of Adjusted Net Revenue • Financial Services and Tech Platform Revenue contributed $472M of Adjusted Net Revenue (+74% YoY) • Tangible Book Value growth of $1.1B YoY to $5.3B • Total Deposit grew $2.3B to nearly $30 billion, driven by member deposits • Personal Loan 90 day delinquencies declined 4 bps sequentially to 42 bps, and net charge-offs declined 48 bps to 2.83% • Set new records in members and products. Added a record 850 thousand new members and 1.3 million new products. • Doubled revenue in Financial Services through rapid innovation. Strong adoption of SoFi Money, rapid expansion of the Loan Platform Business and innovations in SoFi Invest. • Expanded the Loan Platform Business. Increased origination and sale of loans outside SoFi’s credit box, monetizing more of the $100 billion in unmet loan demand. The business is now running at an annualized pace of $9.5 billion originations and over a half-billion of high margin, fee based revenue. • Accelerated loan originations and continued to expand products. Originated a record $8.8 billion in loans this quarter; new personal and student loan refinancing product launches. • Strengthened brand awareness to attract more members to SoFi’s ecosystem. Accelerated unaided brand awareness to all time high of 8.5%. Expanded reach through first-ever music partnership with the CMA for the CMA Fest.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 4 Continuous Innovation and Brand Building SoFi has built a diversified, digital financial services platform through continuous innovation SoFi is a strong and trusted brand • Naming rights partner of SoFi Stadium, home of the L.A. Rams and L.A. Chargers • Presenting Sponsor of the tech-infused golf league “TGL Presented by SoFi” • Official Banking Partner of the NBA, NBA G League, NBA 2K League and USA Basketball • Presenting partner of the Country Music Association’s CMA Fest, SoFi’s first-ever music partnership
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 5 Member Banking Credit Card Invest Loans SoFI’s dedicated member team provides a personalized experience across the entire platform through our Relay product and other benefits 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 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 SoFi Plus SoFi’s premium membership tier provides benefits that span our offering
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 6 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 xBuy 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
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 7 Members and Products Strong member and product growth demonstrate the power of innovation and brand-building 3,460 5,223 7,542 10,127 11,746 2021 2022 2023 2024 2Q25 5,173 7,895 11,142 14,745 17,142 2021 2022 2023 2024 2Q25 YoY Growth* 51% 44% 34% 34% YoY Growth* 53% 41% 32% 34% CAGR: 51% CAGR: 53% Members (in thousands) (1) Products (in thousands) (2) *YoY growth for 2Q25 reflects total member and product growth from Q2’24 to Q2’25. Note: Prior year data is as of 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. New Members (3) 1,762 2,354 2,806 846 New Products (3) 2,721 3,502 4,141 1,263
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 8 Durable Growth SoFi’s diversified business model is built to provide strong growth through different environments YoY Growth 52% 35% 26% 44% $1,010 $1,540 $2,074 $2,606 $237 $356 $489 $597 $858 2021 2022 2023 2024 2025 2025 Guidance ~$3,375 Margin 9% 21% 26% 29% $30 $143 $432 $666 $77 $138 $249 2021 2022 2023 2024 2025 2025 Guidance ~$960 Margin (21)% (3)% 9% 11% $17 $97 2021 2022 2023 2024 2025 2025 Guidance ~$370 Q2’24 to Q2’25 Q2 Adjusted Net Revenue Adjusted Net Revenue (in millions) (4) Adjusted EBITDA (in millions) (5) Adjusted Net Income (in millions) (6)* Q2 Adjusted EBITDA 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, 1Q25 and 2Q25. Q2 Adjusted Net Income Q2’25 Q2’25
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 9 Adjusted Net Revenue Fee-Based Revenue Fee-Based Revenue Mix Diversified Revenue Revenue has shifted towards more capital-light, fee-based revenue $253 $483 $789 $1,217 $1,889 $253 $483 $789 $1,217 $472 2021 2022 2023 2024 2Q25 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. YoY Growth 91% 63% 54% 74% Tech Platform and Financial Services $ in millions $ in millions YoY Growth 47% 45% 74% 72% $262 $385 $556 $970 $1,510 $262 $385 $556 $970 $378 2021 2022 2023 2024 2Q25 26% 25% 27% 37% 44% 74% 75% 73% 63% 56% Fee-Based Revenue All Other Adjusted Net Revenue 2021 2022 2023 2024 2Q25 Q2 Annualized ~$1.9 billion Q2 Annualized ~$1.5 billion Q2’24 to Q2’25 Q2’24 to Q2’25
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 10 Long-Term Approach Continued investment in innovation and brand building will drive long-term growth 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. 9% 21% 26% 29% Adjusted EBITDA margin 2022 2023 2024 2Q25 Adjusted EBITDA Margin (5) • 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
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 11 Adjusted Earnings Per Share (7)* Tangible Book Value (in millions) (8) ROTCE (9) Strong Returns Returns continue to strengthen as the business scales; 7 consecutive profitable quarters Increase $0.60 $0.30 $0.25 $0.07 $0.06 $(1.00) $(0.40) $(0.10) $0.15 $0.08 2021 2022 2023 2024 2025 2025 Guidance ~$0.31 Increase $51 $276 $1,373 $1,054 $3,194 $3,245 $3,521 $4,894 $5,255 2021 2022 2023 2024 2Q25 2025 Guidance +$640 Increase 824bps 673bps 698bps (11.1)% (2.8)% 3.9% 7.7% 2022 2023 2024 2Q25 Q2’24 to Q2’25Q2’24 to Q2’25Q2’24 to Q2’25 Note: Adjusted earnings per share, tangible book value, and ROTCE are non-GAAP financial measures. See "Footnotes" and "Financial Supplement" sections for detailed definitions and reconciliations to the nearest GAAP metric. * Includes non-recurring benefits related to deferred taxes in 2024, and goodwill impairment in 2023. There were no adjustments to adjusted earnings per share in 2021, 2022, 1Q25 and 2Q25. 2Q25 Adjusted EPS 1Q25 Adjusted EPS
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 12 Financial Services Segment Financial Services has driven 2x net revenue growth on the year while nearly doubling contribution margin $176 $238 $257 $303 $363 $139 $154 $161 $173 $194$37 $84 $96 $130 $169 Net interest income primarily generated through deposits and credit card loans. Noninterest income includes fee-based revenue generated primarily through loan platform business, referrals, interchange and brokerage. 2Q24 3Q24 4Q24 1Q25 2Q25 $55 $100 $115 $148 $188 31% 42% 45% 49% 52% Contribution Margin Contribution Profit 2Q24 3Q24 4Q24 1Q25 2Q25 Net Revenue (in millions) Contribution Margin and Profit ($ in millions) 4x noninterest income year-over-year growth 39% net interest income year-over-year growth Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 13 Balance Sheet Loans that fit our risk and return profile are retained to gain the benefit of recurring interest income when advantageous Loan Sales Portions of our Balance Sheet loans are sold directly to asset buyers Securitizations Portions of our Balance Sheet loans are securitized and sold to asset buyers Secured Financing Financing is provided to asset buyers to purchase tranches of SoFi-originated loans Loan Platform Business (LPB) Loans are originated on behalf of third parties to meet their pre-defined criteria LPB Referrals Customers that do not fit our lending criteria or loan types are referred to third parties SoFi Lending Platform Capabilities Diversified lending capabilities serve more members while maximizing returns SoFi Members Economic Lending Model Designed to direct loans through the most efficient channel to optimize risk- adjusted return Scope P P S H C + Financial Services Segment Lending Segment Personal Loans Home Loans Student Loans Credit Cards Auto, SMB Loans S H P P S H P P P S H C + C • SoFi’s Lending Platform provides optionality to hold loans on the balance sheet and collect Net Interest Income or direct loans to LPB partners and collect fee revenue • Diversifies overall revenue to more fee- based sources • Provides tools to manage balance sheet size, risk and capital • LPB helps to scale the business in a capital-light way • Opportunity to serve more members, including those outside SoFi’s credit box • Retaining servicing and client relationships keeps members in the Financial Services Productivity Loop to enhance xBuy
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 14 Capital Markets Activity Regular loan sales and securitizations help manage the balance sheet Personal Loans 104.7% 104.1% 105.1% 105.6% 106.6%106.2%105.9%105.5% 106.2%105.8% Personal Loan FMV Personal Loan Sale Execution Q4 22Q1 23Q2 23Q3 23Q4 23Q1 24Q2 24Q3 24Q4 24Q1 25Q2 25 100% 102% 104% 106% 108% 110% Characteristics of the collateral included in loan sales during one period may not reflect the entire loan portfolio held on the balance sheet. Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. • We executed $3.4 billion of personal, home loan sales, inclusive of LPB in Q2 2025 • Consistent execution above the fair value marks of loans held on the balance sheet over multiple periods • Second securitization of SoFi’s Consumer Loan Program (SCLP) for collateral originated in the Loan Platform Business in Q2 2025
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 15 Adjusted Net Revenue (in millions) (4) Contribution Margin and Profit ($ in millions) Lending Segment Lending has delivered strong growth at a very attractive contribution margin $339 $392 $423 $413 $447 $279 $316 $345 $361 $373 $60 $76 $78 $52 $74 Noninterest Income generated through Loan originations, sales and securitizations, which includes origination fees, and Servicing Net Interest Income generated through holding loans on the balance sheet 2Q24 3Q24 4Q24 1Q25 2Q25 $198 $239 $246 $239 $245 58% 61% 58% 58% 55% Contribution Margin Contribution Profit 2Q24 3Q24 4Q24 1Q25 2Q25 32% year-over-year growth 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. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 16 Lending Originations Continued opportunity to drive strong originations across loan types $5,387 $9,774 $13,801 $17,615 $12,506 $1,294 $2,472 $3,741 $4,192 $4,519 $2,450 $2,115 2021 2022 2023 2024 2025 $4,294 $2,246 $2,630 $3,781 $2,185 $859 $399 $395 $737 $993 First quarter originations Second quarter originations Remaining six months originations 2021 2022 2023 2024 2025 Strong borrower demand and a tremendous opportunity which includes refinancing the ~$1.2T of U.S. credit card debt Increased opportunity to help members pay off student debt as rates decline and repayment has returned $2,979 $966 $999 $1,820 $1,317 $792 $332 $243 $417 $799 First quarter originations Second quarter originations Remaining six months originations 2021 2022 2023 2024 2025 Complete product set and operational capability to scale, particularly as rates become more favorable Personal Loans ($ in millions) Student Loans ($ in millions) Home Loans ($ in millions) Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. Second quarter originations Second quarter LPB originations Annual 2024 LPB originations Q1-Q2 Q1-Q2 Q1-Q2
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 17 Consistent Credit Performance Consistent credit performance reflects strong underwriting capabilities and borrowers 5.4% 5.0% 4.9% 4.8% 4.5% 2.97% 2.94% 3.44% 3.98% 3.45% 3.84% 3.52% 3.37% 3.31% 2.83% 0.34% 0.42% 0.38% 0.59% 0.60% 0.64% 0.69% 0.62% 0.47% 0.94% Personal loan net charge-offs without the sale of delinquent loans Personal loan net charge-offs Student loan net charge-offs Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Net Charge-Offs Q2 Borrower Characteristics Weighted Average Income Weighted Average FICO Personal Loans $161K 743 Student Loans $136K 768 • Time-tested credit model, underwriting to borrower cash flow • Supported by efficient digital process for collecting data • Delinquency sales generate positive incremental value over time from improved recovery capabilities and retaining servicing • Student loan net charge-offs in Q2 include the discrete impacts from switching loan servicers and the purchase of a student loan portfolio Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 18 Personal Loan Credit Performance Recent vintages continue to outperform prior vintages NCL* by Loan Vintage and Remaining UPB** as of Q1 NCL* by Loan Vintage and Remaining UPB** as of Q2 At 49% remaining unpaid principal, NCL is 3.44% for Q4’22-Q3’24 vintages vs 4.77% for 2017 as of Mar’25 At 41% remaining unpaid principal, NCL is 4.23% for Q4’22-Q3’24 vintages vs 5.75% for 2017 as of Jun’25 2022Q4-2024Q32017 *Net Cumulative Losses ** Unpaid Principal Balance Remaining Unpaid PrincipalRemaining Unpaid Principal
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 19 Q1'20 - Q1'25 Origination & NCL Analysis Total Originations Q1'20 - Q1'25 $54.4B Remaining UPB on Total Originations Q1'20-Q1'25 $22.0B % Remaining 40% Cumulative Net Losses to Date $2.2B % NCL of Paid off Balance 6.7% % NCL of Total Originations 4.0% Of the $54.4B of Q1’20-Q1’25 principal originated, 40% remains outstanding Net Cumulative Losses of $2.2B represent 6.7% of paid off principal and 4.0% of the total original balance In order to surpass 8% life of loan losses on all Q1’20 to Q1’25 originations, the remaining 40% unpaid principal would have to experience near 10% loss rates Personal Loan Credit Performance Performance is trending better than our underwriting tolerance *Net Cumulative Losses ** Unpaid Principal Balance
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 20 Net Revenue (in millions) Contribution Margin and Profit ($ in millions) $95 $103 $103 $103 $110 2Q24 3Q24 4Q24 1Q25 2Q25 $31 $33 $32 $31 $33 33% 32% 31% 30% 30% Contribution Margin Contribution Profit 2Q24 3Q24 4Q24 1Q25 2Q25 Technology Platform Segment Technology Platform has delivered steady growth and a consistent contribution margin 15% year-over-year growth Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 21 Technology Platform Accounts (millions) (10) Technology Platform Segment The Tech Platform gives clients the ability to create, launch, and run digital financial products Web & Mobile Banking Conversational Banking Physical Card Virtual Card Payment Processing Deposit Accounts FinCrime Mitigation Lending Accounts Technology that enables digital banking 100 131 145 168 160 2021 2022 2023 2024 2Q25 Technology Platform Accounts (in millions) 100 131 145 168 160 2021 2022 2023 2024 1Q25Technology Platform Accounts (in millions) 100 131 145 168 160 2021 2022 2023 2024 1Q25Technology Platform Accounts (in millions) 100 131 145 168 160 2021 2022 2023 2024 1Q25Technology Platform Accounts (in millions) 100 131 145 168 160 2021 2022 2023 2024 1Q25Technology Platform Accounts (in millions) 100 131 145 168 160 2021 2022 2023 2024 1Q25Technology Platform Accounts (in millions) 100 131 145 168 160 2021 2022 2023 2024 1Q25 User Experience Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. +2mn QoQ
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 22 Funding Base Net Interest Margin Funding and Net Interest Margin SoFi’s strong member-driven funding base supports a stable net interest margin 57% 78% 89% 88% 43% 22% 11% 12% Deposit funding All other funding 2022 2023 2024 2Q25 5.40% 5.88% 5.80% 5.86% 2022 2023 2024 2Q25 • Since acquiring a bank license in 2022, we’ve grown deposits to nearly $30B • ~90% deposit funded • ~90% of deposits coming from durable direct deposit relationships • Stable funding base and attractive loan yields drive a strong NIM • Shift towards more deposit funding has reduced the funding expense by an estimated $552M per year on an annualized basis Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 23 Capital Ratios SoFi maintains strong levels of capital well above regulatory minimums Note: See “Footnotes” section for detailed explanations and definitions. ($ in thousands) Amount (11) Ratio (11) Required Minimum (12) CET1 risk-based capital $4,804,043 14.3% 7.0% Tier 1 risk-based capital $4,804,043 14.3% 8.5% Total risk-based capital $4,851,605 14.4% 10.5% Tier 1 leverage $4,804,043 12.9% 4.0% SoFi Technologies as of Q2 2025
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 24 Business / Segment Expectations: • Member growth of at least 3 million, or approximately 30% from 2024 levels • Incremental net income margin of approximately 20% when excluding nonrecurring income tax benefits and net gains related to the exchange of our 2026 convertible notes • Lending adj. net revenue growth of low double-digits to teens • Financial Services adj. net revenue growth of 60% – 65% • Tech Platform adj. net revenue growth of low double-digits to teens • Loan growth of single-digit billions Guidance FY2025 $ in millions, except per share amounts 2024 Actual Updated FY 2025 Guidance Prior FY 2025 Guidance Adjusted net revenue (4) $2,606 ~$3,375 $3,235 - $3,310 Implied Annual Growth 35% 30% 24% - 27% Adjusted EBITDA (5) $666 ~$960 $875 - $895 Implied Adj. EBITDA Margin (5) 26% 28% 27% Net Income $227* ~$370 $320 - $330 Implied Net Income Margin * 9% 11% 9% Diluted EPS $0.15* ~$0.31 $0.27 - $0.28 Tangible Book Value Growth (8) $1,373 ~$640 $585 - $600 Implied ending value $4,894 $5,534 * Adjusted net income of $227 million and adjusted EPS of $0.15 for 2024 excludes non-recurring benefits related to deferred taxes. Note: Adjusted net revenue, adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted net income margin, adjusted EPS, and tangible book value are non-GAAP financial metrics. See “Footnotes” section for detailed explanations and definitions and reconciliations to the nearest GAAP metric.
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Financial Supplement
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 26 Company Metrics Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. FY 2023 FY 2024 FY 2025 (in 000’s) Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Company Metrics Members (1) 5,656 6,240 6,957 7,542 8,132 8,774 9,373 10,127 10,916 11,746 QoQ % 8.3 % 10.3 % 11.5 % 8.4 % 7.8 % 7.9 % 6.8 % 8.1 % 7.8 % 7.6 % YoY % 46.2 % 44.5 % 46.7 % 44.4 % 43.8 % 40.6 % 34.7 % 34.3 % 34.2 % 33.9 % New Members (3) 433 584 717 585 622 643 756 785 802 846 Products (2) 8,554 9,401 10,448 11,142 11,830 12,776 13,651 14,745 15,915 17,142 QoQ % 8.4 % 9.9 % 11.1 % 6.6 % 6.2 % 8.0 % 6.8 % 8.0 % 7.9 % 7.7 % YoY % 45.9 % 43.2 % 45.1 % 41.1 % 38.3 % 35.9 % 30.7 % 32.3 % 34.5 % 34.2 % New Products (3) 660 847 1,047 695 989 946 1,068 1,137 1,188 1,263 Lending Products (2) 1,416 1,504 1,594 1,663 1,705 1,787 1,891 2,010 2,130 2,280 QoQ % 5.6 % 6.2 % 6.0 % 4.3 % 2.5 % 4.8 % 5.8 % 6.3 % 5.9 % 7.1 % YoY % 24.4 % 25.1 % 24.5 % 24.0 % 20.4 % 18.8 % 18.6 % 20.9 % 24.9 % 27.6 % Financial Services Products (2) 7,138 7,897 8,854 9,479 10,125 10,990 11,760 12,735 13,786 14,862 QoQ % 8.9 % 10.6 % 12.1 % 7.1 % 6.8 % 8.5 % 7.0 % 8.3 % 8.2 % 7.8 % YoY % 51.1 % 47.3 % 49.6 % 44.6 % 41.8 % 39.2 % 32.8 % 34.3 % 36.2 % 35.2 %
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 27 Segment Financials Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. FY 2023 FY 2024 FY 2025 Full Year (in 000’s) Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 2022 2023 2024 Lending Segment Student Loan Originations $ 525,373 $ 395,367 $ 919,330 $ 789,970 $ 751,680 $ 736,518 $ 943,584 $ 1,348,970 $ 1,191,463 $ 993,326 $ 2,245,499 $ 2,630,040 $ 3,780,752 Personal Loan Originations 2,951,358 3,740,981 3,885,967 3,222,759 3,278,882 4,192,114 4,892,040 5,251,949 5,536,841 6,968,746 9,773,705 13,801,065 17,614,985 Home Loan Originations 89,787 243,123 355,698 308,884 336,148 416,936 489,767 577,362 517,758 798,881 966,177 997,492 1,820,213 Total Originations $ 3,566,518 $ 4,379,471 $ 5,160,995 $ 4,321,613 $ 4,366,710 $ 5,345,568 $ 6,325,391 $ 7,178,281 $ 7,246,062 $ 8,760,953 $ 12,985,381 $ 17,428,597 $ 23,215,950 Lending Products (2) 1,416 1,504 1,594 1,663 1,705 1,787 1,891 2,010 2,130 2,280 1,341 1,663 2,010 Adjusted Net Revenue - Lending (Non- GAAP) (4) $ 325,086 $ 322,238 $ 342,481 $ 346,541 $ 325,323 $ 339,052 $ 391,892 $ 422,783 $ 412,334 $ 446,798 $ 1,106,948 $ 1,336,346 $ 1,479,050 Directly Attributable Expenses (13) 115,188 138,929 138,525 120,431 117,604 141,114 152,964 176,825 173,399 202,088 442,945 513,073 588,507 Contribution Profit (14) $ 209,898 $ 183,309 $ 203,956 $ 226,110 $ 207,719 $ 197,938 $ 238,928 $ 245,958 $ 238,935 $ 244,710 $ 664,003 $ 823,273 $ 890,543 Technology Platform Segment Technology Platform accounts (10) 126,327 129,356 136,739 145,425 151,049 158,485 160,179 167,714 158,432 160,046 130,704 145,425 167,714 Net Revenue $ 77,887 $ 87,623 $ 89,923 $ 96,907 $ 94,366 $ 95,438 $ 102,539 $ 102,835 $ 103,427 $ 109,833 $ 315,133 $ 352,340 $ 395,178 Directly Attributable Expenses (13) 63,030 70,469 57,732 66,323 63,624 64,287 69,584 70,728 72,514 76,638 238,620 257,554 268,223 Contribution Profit (Loss) (14) $ 14,857 $ 17,154 $ 32,191 $ 30,584 $ 30,742 $ 31,151 $ 32,955 $ 32,107 $ 30,913 $ 33,195 $ 76,513 $ 94,786 $ 126,955 Financial Services Segment Financial Services products (2) 7,138 7,897 8,854 9,479 10,125 10,990 11,760 12,735 13,786 14,862 6,554 9,479 12,735 Net Revenue $ 81,101 $ 98,052 $ 118,247 $ 139,115 $ 150,551 $ 176,132 $ 238,308 $ 256,520 $ 303,119 $ 362,533 $ 167,676 $ 436,515 $ 821,511 Provision for Credit Losses 8,407 12,615 21,831 12,092 7,165 11,634 6,008 6,852 5,639 10,031 54,332 54,945 31,659 Directly Attributable Expenses (13) 96,929 89,784 93,156 101,963 106,212 109,278 132,542 134,813 149,148 164,270 312,770 381,832 482,845 Contribution Profit (Loss) (14) $ (24,235) $ (4,347) $ 3,260 $ 25,060 $ 37,174 $ 55,220 $ 99,758 $ 114,855 $ 148,332 $ 188,232 $ (199,426) $ (262) $ 307,007
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 28 Segment Financials Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. FY 2023 FY 2024 FY 2025 (in 000’s) Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Lending Segment 372,675,000 Net interest income $ 201,047 $ 231,885 $ 265,215 $ 262,626 $ 266,536 $ 279,212 $ 316,268 $ 345,210 $ 360,621 $ 372,675 Total noninterest income 136,034 99,556 83,758 90,500 63,940 61,493 79,977 72,586 52,752 70,837 Total net revenue 337,081 331,441 348,973 353,126 330,476 340,705 396,245 417,796 413,373 443,512 Adjusted net revenue - Lending (Non-GAAP) (4) 325,086 322,238 342,481 346,541 325,323 339,052 391,892 422,783 412,334 446,798 Contribution profit - Lending (14) 209,898 183,309 203,956 226,110 207,719 197,938 238,928 245,958 238,935 244,710 Technology Platform Segment 266,000 Net interest income $ — $ — $ 573 $ 941 $ 501 $ 555 $ 629 $ 473 $ 413 $ 266 Total noninterest income 77,887 87,623 89,350 95,966 93,865 94,883 101,910 102,362 103,014 109,567 Total net revenue 77,887 87,623 89,923 96,907 94,366 95,438 102,539 102,835 103,427 109,833 Contribution profit - Technology Platform (14) 14,857 17,154 32,191 30,584 30,742 31,151 32,955 32,107 30,913 33,195 Financial Services Segment 193,322,000 Net interest income $ 58,037 $ 74,637 $ 93,101 $ 109,072 $ 119,713 $ 139,229 $ 154,143 $ 160,337 $ 173,199 $ 193,322 Total noninterest income 23,064 23,415 25,146 30,043 30,838 36,903 84,165 96,183 129,920 169,211 Total net revenue 81,101 98,052 118,247 139,115 150,551 176,132 238,308 256,520 303,119 362,533 Contribution profit (loss) - Financial Services (14) (24,235) (4,347) 3,260 25,060 37,174 55,220 99,758 114,855 148,332 188,232 Corporate/Other Segment (48,426,000) Net interest income (expense) $ (23,074) $ (15,396) $ (13,926) $ 17,002 $ 15,968 $ (6,412) $ (40,030) $ (35,851) $ (35,507) $ (48,426) Total noninterest income (loss) (837) (3,702) (6,008) 9,254 53,634 (7,245) 59 (7,175) (12,653) (12,508) Total net revenue (loss) (23,911) (19,098) (19,934) 26,256 69,602 (13,657) (39,971) (43,026) (48,160) (60,934) Consolidated 517,837,000 Net interest income $ 236,010 $ 291,126 $ 344,963 $ 389,641 $ 402,718 $ 412,584 $ 431,010 $ 470,169 $ 498,726 $ 517,837 Total noninterest income 236,148 206,892 192,246 225,763 242,277 186,034 266,111 263,956 273,033 337,107 Total net revenue 472,158 498,018 537,209 615,404 644,995 598,618 697,121 734,125 771,759 854,944 Adjusted net revenue (Non-GAAP) (4) 460,163 488,815 530,717 594,245 580,648 596,965 689,445 739,112 770,720 858,230 Net income (loss) (34,422) (47,549) (266,684) 47,913 88,043 17,404 60,745 332,473 71,116 97,263 Adjusted EBITDA (Non-GAAP) (5) 75,689 76,819 98,025 181,204 144,385 137,901 186,237 197,957 210,337 249,083
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 29 Segment Financials Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. Full Year (in 000’s) 2021 2022 2023 2024 Lending Segment Net interest income $ 258,102 $ 531,480 $ 960,773 $ 1,207,226 Total noninterest income 480,221 608,511 409,848 277,996 Total net revenue 738,323 1,139,991 1,370,621 1,485,222 Adjusted net revenue - Lending (Non-GAAP) (4) 763,776 1,106,948 1,336,346 1,479,050 Contribution profit - Lending (14) 399,607 664,003 823,273 890,543 Technology Platform Segment Net interest income $ (29) $ — $ 1,514 $ 2,158 Total noninterest income 194,915 315,133 350,826 393,020 Total net revenue 194,886 315,133 352,340 395,178 Contribution profit - Technology Platform (14) 64,447 76,513 94,786 126,955 Financial Services Segment Net interest income $ 3,765 $ 92,574 $ 334,847 $ 573,422 Total noninterest income 54,313 75,102 101,668 248,089 Total net revenue 58,078 167,676 436,515 821,511 Contribution profit (loss) - Financial Services (14) (134,918) (199,426) (262) 307,007 Corporate/Other Segment Net interest income (expense) $ (9,594) $ (39,958) $ (35,394) $ (66,325) Total noninterest income (loss) 3,179 (9,307) (1,293) 39,273 Total net revenue (loss) (6,415) (49,265) (36,687) (27,052) Consolidated Net interest income $ 252,244 $ 584,096 $ 1,261,740 $ 1,716,481 Total noninterest income 732,628 989,439 861,049 958,378 Total net revenue 984,872 1,573,535 2,122,789 2,674,859 Adjusted net revenue (Non-GAAP) (4) 1,010,325 1,540,492 2,073,940 2,606,170 Net income (loss) (483,937) (320,407) (300,742) 498,665 Adjusted EBITDA (Non-GAAP) (5) 30,221 143,346 431,737 666,480
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 30 Net Interest Margin Components Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. FY 2023 FY 2024 FY 2025 (in 000’s) Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Average Balances Total interest-earning assets $ 17,239,960 $ 20,357,082 $ 22,856,717 $ 25,698,397 $ 27,428,608 $ 28,484,764 $ 30,779,049 $ 31,670,474 $ 33,647,318 $ 35,420,276 Interest-bearing deposits 8,592,140 11,072,832 14,015,675 16,937,363 19,820,776 21,991,955 23,570,625 24,983,609 26,185,699 27,816,322 Debt 5,425,245 5,755,893 5,591,691 5,454,830 4,227,347 2,871,182 3,705,185 3,303,823 3,818,119 3,956,816 Total interest-bearing liabilities $ 14,033,686 $ 16,841,740 $ 19,618,110 $ 22,401,385 $ 24,053,127 $ 24,866,306 $ 27,276,498 $ 28,288,058 $ 30,004,397 $ 31,773,699 Interest Income/Expense Total interest-earning assets $ 371,450 $ 469,996 $ 564,270 $ 645,237 $ 665,911 $ 674,595 $ 723,374 $ 743,937 $ 763,812 $ 792,405 Interest-bearing deposits 73,116 106,529 145,563 182,612 211,451 231,815 248,292 238,596 225,399 233,232 Debt 62,183 72,341 73,744 72,984 51,742 30,196 44,072 35,172 39,687 41,336 Total interest-bearing liabilities $ 135,440 $ 178,870 $ 219,307 $ 255,596 $ 263,193 $ 262,011 $ 292,364 $ 273,768 $ 265,086 $ 274,568 Average Rate Total interest-earning assets 8.62 % 9.26 % 9.79 % 9.96 % 9.76 % 9.53 % 9.35 % 9.34 % 9.21 % 8.97 % Interest-bearing deposits 3.40 % 3.86 % 4.12 % 4.28 % 4.29 % 4.24 % 4.19 % 3.80 % 3.49 % 3.36 % Debt 4.58 % 5.04 % 5.23 % 5.31 % 4.92 % 4.23 % 4.73 % 4.24 % 4.22 % 4.19 % Total interest-bearing liabilities 3.86 % 4.26 % 4.44 % 4.53 % 4.40 % 4.24 % 4.26 % 3.85 % 3.58 % 3.47 % Net Interest Margin 5.48 % 5.74 % 5.99 % 6.02 % 5.91 % 5.83 % 5.57 % 5.91 % 6.01 % 5.86 %
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 31 Fair Value of Loans Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding. FY 2023 FY 2024 FY 2025 (in 000’s) Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Personal Loans Unpaid principal $ 10,039,769 $ 12,171,935 $ 14,177,004 $ 14,498,629 $ 14,332,874 $ 15,040,190 $ 16,199,604 $ 16,589,623 $ 16,825,564 $ 18,416,674 Accumulated interest 69,049 82,868 105,156 114,541 116,366 111,308 118,169 128,733 126,203 132,100 Cumulative FV adjustments 428,181 496,360 568,836 717,403 607,765 645,930 925,051 814,040 917,463 1,055,163 Fair value of loans on balance sheet $ 10,536,999 $ 12,751,163 $ 14,850,996 $ 15,330,573 $ 15,057,005 $ 15,797,428 $ 17,242,824 $ 17,532,396 $ 17,869,230 $ 19,603,937 Student Loans Unpaid principal $ 5,086,953 $ 5,262,975 $ 5,929,047 $ 6,445,586 $ 6,559,211 $ 6,915,550 $ 7,437,305 $ 8,215,629 $ 9,053,359 $ 10,099,685 Accumulated interest 20,787 21,164 26,497 34,357 27,414 29,957 34,956 44,603 49,501 57,581 Cumulative FV adjustments 132,319 99,782 86,000 245,541 247,536 249,255 404,406 337,136 468,597 584,375 Fair value of loans on balance sheet $ 5,240,059 $ 5,383,921 $ 6,041,544 $ 6,725,484 $ 6,834,161 $ 7,194,762 $ 7,876,667 $ 8,597,368 $ 9,571,457 $ 10,741,641 Home Loans Unpaid principal $ 89,782 $ 87,928 $ 110,320 $ 67,406 $ 58,304 $ 94,673 $ 80,115 $ 149,862 $ 344,246 $ 359,360 Accumulated interest 162 150 163 92 22 71 42 260 1,069 895 Cumulative FV adjustments (8,897) (9,495) (9,187) (1,300) 1,151 1,393 1,533 2,374 11,518 17,137 Fair value of loans on balance sheet $ 81,047 $ 78,583 $ 101,296 $ 66,198 $ 59,477 $ 96,137 $ 81,690 $ 152,496 $ 356,833 $ 377,392 Total Unpaid principal $ 15,216,504 $ 17,522,838 $ 20,216,371 $ 21,011,621 $ 20,950,389 $ 22,050,413 $ 23,717,024 $ 24,955,114 $ 26,223,169 $ 28,875,719 Accumulated interest 89,998 104,182 131,816 148,990 143,802 141,336 153,167 173,596 176,773 190,576 Cumulative FV adjustments 551,603 586,647 645,649 961,644 856,452 896,578 1,330,990 1,153,550 1,397,578 1,656,675 Fair value of loans on balance sheet $ 15,858,105 $ 18,213,667 $ 20,993,836 $ 22,122,255 $ 21,950,643 $ 23,088,327 $ 25,201,181 $ 26,282,260 $ 27,797,520 $ 30,722,970
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 32 90+ Day Delinquencies FY 2023 FY 2024 FY 2025 (in 000’s) Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Personal Loans Total Unpaid principal $ 10,039,769 $ 12,171,935 $ 14,177,004 $ 14,498,629 $ 14,332,874 $ 15,040,190 $ 16,199,604 $ 16,589,623 $ 16,825,564 $ 18,416,674 Unpaid principal 90+ day DQ 37,754 49,097 68,432 81,591 102,581 95,829 91,742 91,477 77,110 77,941 Accumulated interest 1,731 2,299 3,400 4,023 4,313 4,452 4,470 4,400 3,512 3,858 Cumulative FV adjustments (34,219) (44,552) (58,676) (70,191) (87,603) (79,035) (75,303) (75,390) (63,326) (63,942) Fair value of loans on balance sheet $ 5,266 $ 6,844 $ 13,156 $ 15,423 $ 19,291 $ 21,246 $ 20,909 $ 20,487 $ 17,296 $ 17,857 90+ Day Delinquency % 0.38 % 0.40 % 0.48 % 0.56 % 0.72 % 0.64 % 0.57 % 0.55 % 0.46 % 0.42 % Student Loans Total Unpaid principal $ 5,086,953 $ 5,262,975 $ 5,929,047 $ 6,445,586 $ 6,559,211 $ 6,915,550 $ 7,437,305 $ 8,215,629 $ 9,053,359 $ 10,099,685 Unpaid principal 90+ day DQ 5,968 6,579 8,502 8,446 8,735 8,571 9,243 9,578 12,095 12,828 Accumulated interest 306 328 335 187 184 140 148 168 239 249 Cumulative FV adjustments (3,283) (3,926) (5,104) (5,021) (5,397) (5,978) (6,566) (6,760) (8,504) (9,082) Fair value of loans on balance sheet $ 2,991 $ 2,981 $ 3,733 $ 3,612 $ 3,522 $ 2,733 $ 2,825 $ 2,986 $ 3,830 $ 3,995 90+ Day Delinquency % 0.12 % 0.13 % 0.14 % 0.13 % 0.13 % 0.12 % 0.12 % 0.12 % 0.13 % 0.13 % Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 33 Select Balance Sheet Information Assets Liabilities and Permanent Equity $ in thousands Q2'25 Q2'25 Cash & cash equivalents $ 2,122,502 Revolving credit facility $ 486,000 Restricted cash & cash equivalents 592,101 Personal loan warehouse facilities 883,867 Investment Securities 2,374,810 Student loan warehouse facilities 1,236,306 Risk retention warehouse facilities 4,726 Loans held for sale, at fair value Personal loan securitizations — Personal loans $ 19,603,937 Student loan securitizations 59,747 Home loans 377,392 Convertible Senior Notes, due 2026 428,022 Loans held for sale, at lower of cost or market Convertible Senior Notes, due 2029 862,500 Personal loans 81,760 Less: unamortized debt issuance costs and discounts (18,532) Loans held for investment, at fair value Total Debt $ 3,942,636 Student loans 10,741,641 Loans held for investment, at amortized cost Deposits $ 29,540,674 Secured loans 888,421 Residual interests classified as debt 554 Credit card loans 364,997 Accounts payable, accruals & other liabilities 676,293 Commercial and consumer banking loans 159,967 Operating lease liabilities 91,434 Total Loans $ 32,218,115 Total Liabilities $ 34,251,591 Servicing rights $ 375,006 Property, equipment and software 354,755 Goodwill 1,393,505 Intangible assets 263,522 Operating lease right-of-use assets 77,213 Other assets 1,340,642 Permanent Equity 6,860,580 Total Assets $ 41,112,171 Total Liabilities and Permanent Equity $ 41,112,171 Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 34 Non-GAAP Financial Measures & Reconciliations FY 2023 FY 2024 FY 2025 (in 000’s) Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Net Revenue (GAAP) $ 472,158 $ 498,018 $ 537,209 $ 615,404 $ 644,995 $ 598,618 $ 697,121 $ 734,125 $ 771,759 $ 854,944 Servicing rights - changes in FMV (15) (12,084) (8,601) (7,420) (6,595) (5,226) (1,654) (4,362) 4,962 (1,074) 3,274 Residual interests classified as debt - changes in FMV (16) 89 (602) 928 10 73 1 9 25 35 12 Gain on Extinguishment of Corporate Debt (17) — — — (14,574) (59,194) — (3,323) — — — Adjusted Net Revenue (Non-GAAP) (4) $ 460,163 $ 488,815 $ 530,717 $ 594,245 $ 580,648 $ 596,965 $ 689,445 $ 739,112 $ 770,720 $ 858,230 Lending (Non-GAAP) (4) $ 325,086 $ 322,238 $ 342,481 $ 346,541 $ 325,323 $ 339,052 $ 391,892 $ 422,783 $ 412,334 $ 446,798 Technology Platform (GAAP) 77,887 87,623 89,923 96,907 94,366 95,438 102,539 102,835 103,427 109,833 Financial Services (GAAP) 81,101 98,052 118,247 139,115 150,551 176,132 238,308 256,520 303,119 362,533 Corporate (Non-GAAP) (4) (23,911) (19,098) (19,934) 11,682 10,408 (13,657) (43,294) (43,026) (48,160) (60,934) Adjusted Net Revenue (Non-GAAP) (4) $ 460,163 $ 488,815 $ 530,717 $ 594,245 $ 580,648 $ 596,965 $ 689,445 $ 739,112 $ 770,720 $ 858,230 Interest expense - corporate borrowings - add back (18) $ 8,000 $ 9,167 $ 9,784 $ 9,882 $ 10,711 $ 12,725 $ 12,871 $ 12,039 $ 11,428 $ 11,504 Provision for credit losses (8,407) (12,615) (21,831) (12,092) (7,182) (11,640) (6,013) (6,877) (5,678) (10,035) Non-interest expenses (384,067) (408,548) (420,645) (410,831) (439,792) (460,149) (510,066) (546,317) (566,133) (610,616) Adjusted EBITDA (Non-GAAP) (5) $ 75,689 $ 76,819 $ 98,025 $ 181,204 $ 144,385 $ 137,901 $ 186,237 $ 197,957 $ 210,337 $ 249,083 Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 35 Non-GAAP Financial Measures & Reconciliations Full Year (in 000’s) 2021 2022 2023 2024 Net Revenue (GAAP) $ 984,872 $ 1,573,535 $ 2,122,789 $ 2,674,859 Servicing rights - changes in FMV (15) 2,651 (39,651) (34,700) (6,280) Residual interests classified as debt - changes in FMV (16) 22,802 6,608 425 108 Gain on Extinguishment of Corporate Debt (17) — — (14,574) (62,517) Adjusted Net Revenue (Non-GAAP) (4) $ 1,010,325 $ 1,540,492 $ 2,073,940 $ 2,606,170 Lending (Non-GAAP) (4) $ 763,776 $ 1,106,948 $ 1,336,346 $ 1,479,050 Technology Platform (GAAP) 194,886 315,133 352,340 395,178 Financial Services (GAAP) 58,078 167,676 436,515 821,511 Corporate (Non-GAAP) (4) (6,415) (49,265) (51,261) (89,569) Adjusted Net Revenue (Non-GAAP) (4) $ 1,010,325 $ 1,540,492 $ 2,073,940 $ 2,606,170 Interest expense - corporate borrowings - add back (18) $ 10,345 $ 18,438 $ 36,833 $ 48,346 Provision for credit losses (7,573) (54,332) (54,945) (31,712) Non-interest expenses (982,876) (1,361,252) (1,624,091) (1,956,324) Adjusted EBITDA (Non-GAAP) (5) $ 30,221 $ 143,346 $ 431,737 $ 666,480 Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 36 Non-GAAP Financial Measures & Reconciliations FY 2023 FY 2024 FY 2025 (in 000’s) Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Non-GAAP Reconciliations Net Revenue (GAAP) $ 472,158 $ 498,018 $ 537,209 $ 615,404 $ 644,995 $ 598,618 $ 697,121 $ 734,125 $ 771,759 $ 854,944 Servicing rights - changes in FMV (15) (12,084) (8,601) (7,420) (6,595) (5,226) (1,654) (4,362) 4,962 (1,074) 3,274 Residual interests classified as debt - changes in FMV (16) 89 (602) 928 10 73 1 9 25 35 12 Gain on Extinguishment of Corporate Debt (17) — — — (14,574) (59,194) — (3,323) — — — Adjusted Net Revenue (Non-GAAP) (4) $ 460,163 $ 488,815 $ 530,717 $ 594,245 $ 580,648 $ 596,965 $ 689,445 $ 739,112 $ 770,720 $ 858,230 Net Income (Loss) (GAAP) $ (34,422) $ (47,549) $ (266,684) $ 47,913 $ 88,043 $ 17,404 $ 60,745 $ 332,473 $ 71,116 $ 97,263 Non-GAAP Adjustments Interest expense - corporate borrowings (18) 8,000 9,167 9,784 9,882 10,711 12,725 12,871 12,039 11,428 11,504 Income tax expense (benefit) (1,637) (1,780) (244) 3,245 6,183 (2,064) 3,110 (272,549) 8,666 14,929 Depreciation & amortization 45,321 50,130 52,516 53,449 48,539 49,623 51,791 53,545 55,283 56,743 Share-based expense 64,226 75,878 62,005 69,107 55,082 61,057 63,646 66,367 63,756 63,256 Impairment expense (19) 1,243 — 247,174 — — — — — — — Transaction-related expense (20) — 176 (34) — — 615 — — — — Restructuring charges (21) 4,953 — — 7,796 — — 1,275 255 851 36 Servicing rights - changes in FMV (15) (12,084) (8,601) (7,420) (6,595) (5,226) (1,654) (4,362) 4,962 (1,074) 3,274 Residual interests classified as debt - changes in FMV (16) 89 (602) 928 10 73 1 9 25 35 12 Gain on Extinguishment of Corporate Debt (17) — — — (14,574) (59,194) — (3,323) — — — Foreign Currency Impact of Highly Inflationary Countries (22) — — — 10,971 174 194 475 840 276 2,066 Adjusted EBITDA (Non-GAAP) (5) $ 75,689 $ 76,819 $ 98,025 $ 181,204 $ 144,385 $ 137,901 $ 186,237 $ 197,957 $ 210,337 $ 249,083 Net Income (Loss) Margin (GAAP) (7) % (10) % (50) % 8 % 14 % 3 % 9 % 45 % 9 % 11 % Adjusted EBITDA Margin (Non-GAAP) (5) 16 % 16 % 18 % 30 % 25 % 23 % 27 % 27 % 27 % 29 % Incremental EBITDA Margin (Non-GAAP) (5) 48 % 43 % 48 % 74 % 57 % 56 % 56 % 12 % 35 % 43 % Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 37 Non-GAAP Financial Measures & Reconciliations Full Year (in 000’s) 2021 2022 2023 2024 Non-GAAP Reconciliations Net Revenue (GAAP) $ 984,872 $ 1,573,535 $ 2,122,789 $ 2,674,859 Servicing rights - changes in FMV (15) 2,651 (39,651) (34,700) (6,280) Residual interests classified as debt - changes in FMV (16) 22,802 6,608 425 108 Gain on Extinguishment of Corporate Debt (17) — — (14,574) (62,517) Adjusted Net Revenue (Non-GAAP) (4) $ 1,010,325 $ 1,540,492 $ 2,073,940 $ 2,606,170 Net Income (Loss) (GAAP) $ (483,937) $ (320,407) $ (300,742) $ 498,665 Non-GAAP Adjustments Interest expense - corporate borrowings (18) 10,345 18,438 36,833 48,346 Income tax expense (benefit) 2,760 1,686 (416) (265,320) Depreciation & amortization 101,568 151,360 201,416 203,498 Share-based expense 239,371 305,994 271,216 246,152 Impairment expense (19) — — 248,417 — Transaction-related expense (20) 27,333 19,318 142 615 Restructuring charges (21) — — 12,749 1,530 Fair value changes in warrant liabilities (23) 107,328 — — — Servicing rights - changes in FMV (15) 2,651 (39,651) (34,700) (6,280) Residual interests classified as debt - changes in FMV (16) 22,802 6,608 425 108 Gain on Extinguishment of Corporate Debt (17) — — (14,574) (62,517) Foreign Currency Impact of Highly Inflationary Countries (22) — — 10,971 1,683 Adjusted EBITDA (Non-GAAP) (5) $ 30,221 $ 143,346 $ 431,737 $ 666,480 Net Income (Loss) Margin (GAAP) (49) % (20) % (14) % 19 % Adjusted EBITDA Margin (Non-GAAP) (5) 3 % 9 % 21 % 26 % Incremental EBITDA Margin (Non-GAAP) (5) 19 % 21 % 54 % 44 % Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 38 Non-GAAP Financial Measures & Reconciliations FY 2023 FY 2024 FY 2025 (in 000’s) Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Non-GAAP Reconciliations Net Revenue - Lending (GAAP) $ 337,081 $ 331,441 $ 348,973 $ 353,126 $ 330,476 $ 340,705 $ 396,245 $ 417,796 $ 413,373 $ 443,512 Servicing rights - changes in FMV (15) (12,084) (8,601) (7,420) (6,595) (5,226) (1,654) (4,362) 4,962 (1,074) 3,274 Residual interests classified as debt - changes in FMV (16) 89 (602) 928 10 73 1 9 25 35 12 Adjusted Net Revenue - Lending (Non-GAAP) (4) $ 325,086 $ 322,238 $ 342,481 $ 346,541 $ 325,323 $ 339,052 $ 391,892 $ 422,783 $ 412,334 $ 446,798 Noninterest Income – Lending (GAAP) $ 136,034 $ 99,556 $ 83,758 $ 90,500 $ 63,940 $ 61,493 $ 79,977 $ 72,586 $ 52,752 $ 70,837 Servicing rights - changes in FMV (15) (12,084) (8,601) (7,420) (6,595) (5,226) (1,654) (4,362) 4,962 (1,074) 3,274 Residual interests classified as debt - changes in FMV (16) 89 (602) 928 10 73 1 9 25 35 12 Adjusted Noninterest Income – Lending (Non- GAAP) (24) $ 124,039 $ 90,353 $ 77,266 $ 83,915 $ 58,787 $ 59,840 $ 75,624 $ 77,573 $ 51,713 $ 74,123 Noninterest Income (GAAP) $ 236,148 $ 206,892 $ 192,246 $ 225,763 $ 242,277 $ 186,034 $ 266,111 $ 263,956 $ 273,033 $ 337,107 Servicing rights - changes in FMV (15) (12,084) (8,601) (7,420) (6,595) (5,226) (1,654) (4,362) 4,962 (1,074) 3,274 Residual interests classified as debt - changes in FMV (16) 89 (602) 928 10 73 1 9 25 35 12 Gain on Extinguishment of Corporate Debt (17) — — — (14,574) (59,194) — (3,323) — — — Adjusted Noninterest Income (Non-GAAP) (24) $ 224,153 $ 197,689 $ 185,754 $ 204,604 $ 177,930 $ 184,381 $ 258,435 $ 268,943 $ 271,994 $ 340,393 Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 39 Non-GAAP Financial Measures & Reconciliations FY 2023 FY 2024 FY 2025 (in 000’s) Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Non-GAAP Reconciliations Net Income (Loss) (GAAP) $ (34,422) $ (47,549) $ (266,684) $ 47,913 $ 88,043 $ 17,404 $ 60,745 $ 332,473 $ 71,116 $ 97,263 Income tax benefit from release of tax valuation allowance — — — — — — — (258,401) — — Income tax benefit from restructuring — — — — — — — (13,042) — — Goodwill impairment expense — — 247,174 — — — — — — — Adjusted net income (loss) (non-GAAP) (6) $ (34,422) $ (47,549) $ (19,510) $ 47,913 $ 88,043 $ 17,404 $ 60,745 $ 61,030 $ 71,116 $ 97,263 Net Income (Loss) Margin (GAAP) (7) % (10) % (50) % 8 % 14 % 3 % 9 % 45 % 9 % 11 % Adjusted Net Revenue (Non-GAAP) (4) $ 460,163 $ 488,815 $ 530,717 $ 594,245 $ 580,648 $ 596,965 $ 689,445 $ 739,112 $ 770,720 $ 858,230 Adjusted Net Income Margin (Non-GAAP) (25) (7) % (10) % (4) % 8 % 15 % 3 % 9 % 8 % 9 % 11 % Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 40 Non-GAAP Financial Measures & Reconciliations Full Year (in 000’s) 2021 2022 2023 2024 Non-GAAP Reconciliations Net Income (Loss) (GAAP) $ (483,937) $ (320,407) $ (300,742) $ 498,665 Income tax benefit from release of tax valuation allowance — — — (258,401) Income tax benefit from restructuring — — — (13,042) Goodwill impairment expense — — 247,174 — Adjusted net income (loss) (non-GAAP) (6) $ (483,937) $ (320,407) $ (53,568) $ 227,222 Net Income (Loss) Margin (GAAP) (49) % (20) % (14) % 19 % Adjusted Net Revenue (Non-GAAP) (4) $ 1,010,325 $ 1,540,492 $ 2,073,940 $ 2,606,170 Adjusted Net Income Margin (Non-GAAP) (25) (48) % (21) % (3) % 9 % Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 41 Non-GAAP Financial Measures & Reconciliations FY 2023 FY 2024 FY 2025 (in 000’s, except per share amounts) Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Non-GAAP Reconciliations Numerator: Net income (loss) attributable to common stockholders — diluted (GAAP) $ (44,390) $ (57,628) $ (276,873) $ 24,615 $ 22,523 $ 7,954 $ 58,059 $ 332,473 $ 71,455 $ 97,614 Non-GAAP adjustments: Income tax benefit from release of tax valuation allowance — — — — — — — (258,401) — — Income tax benefit from restructuring — — — — — — — (13,042) — — Goodwill impairment expense — — 247,174 — — — — — — — Adjusted net income (loss) attributable to common stockholders — diluted (non-GAAP) (7) $ (44,390) $ (57,628) $ (29,699) $ 24,615 $ 22,523 $ 7,954 $ 58,059 $ 61,030 $ 71,455 $ 97,614 Denominator: W e i g h t e d a v e r a g e c o m m o n s t o c k o u t s t a n d i n g — diluted 929,271 936,569 951,183 1,029,303 1,042,477 1,065,171 1,104,450 1,151,047 1,185,466 1,182,877 Dilutive impact of 2029 convertible notes — — — — — — — (6,214) (31,412) (25,857) Adjusted weighted average common stock outstanding — diluted 929,271 936,569 951,183 1,029,303 1,042,477 1,065,171 1,104,450 1,144,833 1,154,054 1,157,020 E a r n i n g s ( l o s s ) p e r s h a r e — d i l u t e d ( G A A P ) $ (0.05) $ (0.06) $ (0.29) $ 0.02 $ 0.02 $ 0.01 $ 0.05 $ 0.29 $ 0.06 $ 0.08 Impact of adjustments per share — — 0.26 — — — — (0.24) — — A d j u s t e d e a r n i n g s ( l o s s ) p e r s h a r e — d i l u t e d ( n o n - GAAP) (7) $ (0.05) $ (0.06) $ (0.03) $ 0.02 $ 0.02 $ 0.01 $ 0.05 $ 0.05 $ 0.06 $ 0.08 Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 42 Non-GAAP Financial Measures & Reconciliations Full Year (in 000’s, except per share amounts) 2021 2022 2023 2024 Non-GAAP Reconciliations Numerator: Net income (loss) attributable to common stockholders — diluted (GAAP) $ (524,363) $ (360,832) $ (341,167) $ 434,776 Non-GAAP adjustments: Income tax benefit from release of tax valuation allowance — — — (258,401) Income tax benefit from restructuring — — — (13,042) Goodwill impairment expense — — 247,174 — Adjusted net income (loss) attributable to common stockholders — diluted (non-GAAP) (7) $ (524,363) $ (360,832) $ (93,993) $ 163,333 Denominator: W e i g h t e d a v e r a g e c o m m o n s t o c k o u t s t a n d i n g — d i l u t e d 526,730 900,886 945,024 1,101,390 Dilutive impact of 2029 convertible notes — — — (24,857) Adjusted weighted average common stock outstanding — diluted 526,730 900,886 945,024 1,076,534 E a r n i n g s ( l o s s ) p e r s h a r e — d i l u t e d ( G A A P ) $ (1.00) $ (0.40) $ (0.36) $ 0.39 Impact of adjustments per share — — 0.26 (0.24) A d j u s t e d e a r n i n g s ( l o s s ) p e r s h a r e — d i l u t e d ( n o n - G A A P ) (7) $ (1.00) $ (0.40) $ (0.10) $ 0.15 Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 43 Non-GAAP Financial Measures & Reconciliations Full Year FY 2025 (in 000’s, except per share amounts) 2022 2023 2024 Q1’25 Q2’25 Non-GAAP Reconciliations Numerator: Net income (loss) attributable to common stockholders — diluted (GAAP) $ (360,832) $ (341,167) $ 434,776 $ 71,455 $ 97,614 Non-GAAP adjustments: Income tax benefit from release of tax valuation allowance — — (258,401) — — Income tax benefit from restructuring — — (13,042) — — Goodwill impairment expense — 247,174 — — — Adjusted net income (loss) attributable to common stockholders — diluted (non-GAAP) (9) $ (360,832) $ (93,993) $ 163,333 $ 71,455 $ 97,614 Denominator: Average permanent equity (GAAP) $ 5,024,073 $ 5,225,846 $ 5,871,366 $ 6,613,905 $ 6,671,752 Less: Goodwill (average) 1,457,763 1,559,183 1,393,505 1,393,505 1,393,505 Less: Intangibles (average) 425,955 406,927 331,132 288,825 271,397 Add: Related deferred tax liabilities (average) 123,075 72,132 32,551 38,886 45,711 Average tangible book value (non-GAAP) $ 3,263,430 $ 3,331,868 $ 4,179,280 $ 4,970,461 $ 5,052,561 Return on tangible common equity (non-GAAP) (9) (11.1) % (2.8) % 3.9 % 5.8 % 7.7 % Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 44 Non-GAAP Financial Measures & Reconciliations FY 2023 FY 2024 FY 2025 (in 000’s, except per share data) Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Non-GAAP Reconciliations Total permanent equity (GAAP) $ 5,234,072 $ 5,257,661 $ 5,053,388 $ 5,234,612 $ 5,825,605 $ 5,901,494 $ 6,121,481 $ 6,525,134 $ 6,678,514 $ 6,860,580 Goodwill (1,622,991) (1,640,679) (1,393,505) (1,393,505) (1,393,505) (1,393,505) (1,393,505) (1,393,505) (1,393,505) (1,393,505) Intangible assets (419,880) (412,099) (387,307) (364,048) (347,495) (331,446) (314,959) (297,794) (279,757) (263,522) Related deferred tax liabilities 88,502 78,995 76,892 44,139 30,437 24,023 15,654 60,088 55,780 51,322 Tangible book value (as of period end) (non-GAAP) (8) $ 3,279,703 $ 3,283,878 $ 3,349,468 $ 3,521,198 $ 4,115,042 $ 4,200,566 $ 4,428,671 $ 4,893,923 $ 5,061,032 $ 5,254,875 C o m m o n s t o c k o u t s t a n d i n g ( a s o f p e r i o d e n d ) 940,339 948,913 957,860 975,862 1,056,491 1,065,112 1,084,137 1,095,358 1,104,104 1,113,443 Book value per common share (GAAP) $ 5.57 $ 5.54 $ 5.28 $ 5.36 $ 5.51 $ 5.54 $ 5.65 $ 5.96 $ 6.05 $ 6.16 Tangible book value per common share (non-GAAP) (8) $ 3.49 $ 3.46 $ 3.50 $ 3.61 $ 3.90 $ 3.94 $ 4.08 $ 4.47 $ 4.58 $ 4.72 Note: See “Footnotes” section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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Footnotes to Financial Statements
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 46 Footnotes (1) We refer to our customers as “members”. We define a member as someone who has a lending relationship with us through origination and/or ongoing servicing, opened a financial services account, linked an external account to our platform, or signed up for our credit score monitoring service. Our members have continuous access to our certified financial planners, our member events, our content, educational material, news, and our tools and calculators, which are provided at no cost to the member. We view members as an indication not only of the size and a measurement of growth of our business, but also as a measure of the significant value of the data we have collected over time. Once someone becomes a member, they are always considered a member unless they are removed in accordance with our terms of service, in which case, we adjust our total number of members. This could occur for a variety of reasons—including fraud or pursuant to certain legal processes—and, as our terms of service evolve together with our business practices, product offerings and applicable regulations, our grounds for removing members from our total member count could change. The determination that a member should be removed in accordance with our terms of service is subject to an evaluation process, following the completion, and based on the results, of which, relevant members and their associated products are removed from our total member count in the period in which such evaluation process concludes. However, depending on the length of the evaluation process, that removal may not take place in the same period in which the member was added to our member count or the same period in which the circumstances leading to their removal occurred. For this reason, our total member count may not yet reflect adjustments that may be made once ongoing evaluation processes, if any, conclude. Beginning in the first quarter of 2024, we aligned our methodology for calculating member and product metrics with our member and product definitions to include co-borrowers, co-signers, and joint- and co-account holders, as applicable. Quarterly amounts for prior periods were determined to be immaterial and were not recast. (2) Total products refers to the aggregate number of lending and financial services products that our members have selected on our platform since our inception through the reporting date, whether or not the members are still registered for such products. Total products is a primary indicator of the size and reach of our Lending and Financial Services segments. Management relies on total products metrics to understand the effectiveness of our member acquisition efforts and to gauge the propensity for members to use more than one product. In our Lending segment, total products refers to the number of personal loans, student loans and home loans that have been originated through our platform through the reporting date, inclusive of loans which we originate as part of our Loan Platform Business, whether or not such loans have been paid off. If a member has multiple loan products of the same loan product type, such as two personal loans, that is counted as a single product. However, if a member has multiple loan products across loan product types, such as one personal loan and one home loan, that is counted as two products. The account of a co-borrower or co-signer is not considered a separate lending product. In our Financial Services segment, total products refers to the number of SoFi Money accounts (inclusive of checking and savings accounts held at SoFi Bank and cash management accounts), SoFi Invest accounts, SoFi Credit Card accounts (including accounts with a zero dollar balance at the reporting date), referred loans (which are originated by a third-party partner to which we provide pre-qualified borrower referrals), SoFi At Work accounts and SoFi Relay accounts (with either credit score monitoring enabled or external linked accounts) that have been opened through our platform through the reporting date. Checking and savings accounts are considered one account within our total products metric. Our SoFi Invest service is composed of two products: active investing accounts and robo-advisory accounts. Our members can select any one or combination of the types of SoFi Invest products. If a member has multiple SoFi Invest products of the same account type, such as two active investing accounts, that is counted as a single product. However, if a member has multiple SoFi Invest products across account types, such as one active investing account and one robo-advisory account, those separate account types are considered separate products. The account of a joint- or co-account holder is considered a separate financial services product. In the fourth quarter of 2023, we transferred the crypto services provided by SoFi Digital Assets, LLC, and began closing existing digital assets accounts, which were included in Invest products. This process was completed in the first quarter of 2024. In the event a member is removed in accordance with our terms of service, as discussed in footnote 1 herein, the member’s associated products are also removed. (3) Beginning in the first quarter of 2024, new member and new product addition metrics for the relevant period reflect actual growth or declines in members and products that occurred in that period whereas the total number of members and products reflects not only the growth or decline of each metric in the current period but also additions or deletions due to prior period factors, if any, described in footnotes 1 and 2 herein. (4) Adjusted net revenue is a non-GAAP measure. Adjusted net revenue is defined as total net revenue, adjusted to exclude the fair value changes in servicing rights and residual interests classified as debt due to valuation inputs and assumptions changes, which relate only to our Lending segment, as well as gains and losses on extinguishment of debt. (5) Adjusted EBITDA, adjusted EBITDA margin, and incremental adjusted EBITDA margin are non-GAAP measures. Adjusted EBITDA is defined as net income (loss), adjusted to exclude, as applicable: (i) corporate borrowing- based interest expense (our adjusted EBITDA measure is not adjusted for warehouse or securitization-based interest expense, nor deposit interest expense and finance lease liability interest expense, as these are direct operating expenses), (ii) income tax expense (benefit), (iii) depreciation and amortization, (iv) share-based expense (inclusive of equity-based payments to non-employees), (v) restructuring charges, (vi) impairment expense (inclusive of goodwill impairment and property, equipment and software abandonments), (vii) transaction-related expenses, (viii) foreign currency impacts related to operations in highly inflationary countries, (ix) fair value changes in warrant liabilities, (x) fair value changes in each of servicing rights and residual interests classified as debt due to valuation assumptions, (xi) gain on extinguishment of debt, and (xii) other charges, as appropriate, that are not expected to recur and are not indicative of our core operating performance. Adjusted EBITDA margin is computed as adjusted EBITDA divided by adjusted net revenue, a non-GAAP measure (see footnote 4 herein). Incremental adjusted EBITDA margin is defined as the change in adjusted EBITDA, divided by change in adjusted net revenue. (6) Adjusted net income (loss) is a non-GAAP measure. Adjusted net income (loss) is defined as net income (loss), adjusted to exclude, as applicable, goodwill impairment expense and certain income tax adjustments that are not expected to recur and are not indicative of our core operating performance. (7) Adjusted diluted earnings (loss) per share (“adjusted EPS”) is a non-GAAP financial measure that adjusts GAAP diluted earnings (loss) per share. Adjusted EPS is computed by dividing net income (loss) attributable to common stockholders, adjusted to exclude, as applicable, goodwill impairment expense and certain income tax adjustments that are not expected to recur and are not indicative of our core operating performance, by the diluted weighted average number of shares of common stock outstanding during the period, excluding the dilutive impact of the 2029 convertible notes under the if-converted method for which the 2029 capped call transactions would deliver shares to offset dilution.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 47 Footnotes (8) Tangible book value is defined as permanent equity, adjusted to exclude goodwill and intangible assets, net of related deferred tax liabilities. Tangible book value per common share represents tangible book value at period-end divided by common stock outstanding at period-end. (9) Return on tangible common equity ("ROTCE") is calculated as adjusted net income (loss) attributable to common stockholders — diluted, adjusted to exclude, as applicable, goodwill impairment expense and certain income tax benefits that are not expected to recur and are not indicative of our core operating performance, divided by average tangible book value, a non-GAAP measure (see footnote 8 herein), for the corresponding period. Average balances were calculated on daily carrying balances. (10) In our Technology Platform segment, total accounts refers to the number of open accounts at Galileo as of the reporting date. Total accounts is a primary indicator of the accounts dependent upon our technology platform to use virtual card products, virtual wallets, make peer-to-peer and bank-to-bank transfers, receive early paychecks, separate savings from spending balances, make debit transactions and rely upon real-time authorizations, all of which result in revenues for the Technology Platform segment. We do not measure total accounts for the Technisys products and solutions, as the revenue model is not primarily dependent upon being a fully integrated, stand-ready service. (11) Estimated. (12) Required minimums presented for risk-based capital ratios include the required capital conservation buffer. (13) In our determination of the contribution profit (loss) for our Lending, Technology Platform and Financial Services segments, we allocate certain expenses that are directly attributable to the corresponding segment. Directly attributable expenses primarily include compensation and benefits and sales and marketing, and vary based on the amount of activity within each segment. Directly attributable expenses also include loan origination and servicing expenses, professional services, product fulfillment, lead generation and occupancy-related costs. Expenses are attributed to the reportable segments using either direct costs of the segment or labor costs that can be attributed based upon the allocation of employee time for individual products. (14) The measure of contribution profit (loss) is the primary measure of segment profit and loss reviewed by SoFi in accordance with GAAP and is, therefore, only measured and presented herein for total reportable segments. SoFi does not evaluate contribution profit (loss) at the consolidated level. Contribution profit (loss) is defined as total net revenue for each reportable segment less fair value changes in servicing rights and residual interests classified as debt that are attributable to assumption changes, which impact the contribution profit within the Lending segment, provision for credit losses, and expenses directly attributable to the corresponding reportable segment. (15) Reflects changes in fair value inputs and assumptions on servicing rights, including conditional prepayment, default rates and discount rates. These assumptions are highly sensitive to market interest rate changes and are not indicative of our performance or results of operations. Moreover, these non-cash charges are unrealized during the period and, therefore, have no impact on our cash flows from operations. (16) Reflects changes in fair value inputs and assumptions on residual interests classified as debt, including conditional prepayment, default rates and discount rates. When third parties finance our consolidated securitization variable interest entities by purchasing residual interests, we receive proceeds at the time of the closing of the securitization and, thereafter, pass along contractual cash flows to the residual interest owner. These residual debt obligations are measured at fair value on a recurring basis, but they have no impact on our initial financing proceeds, our future obligations to the residual interest owner (because future residual interest claims are limited to contractual securitization collateral cash flows), or the general operations of our business. (17) Reflects gain on extinguishment of debt. Gains and losses are recognized during the period of extinguishment for the difference between the net carrying amount of debt extinguished and the fair value of equity securities issued. (18) Our adjusted EBITDA measure adjusts for corporate borrowing-based interest expense, as these expenses are a function of our capital structure. Corporate borrowing-based interest expense includes interest on our revolving credit facility, as well as interest expense and the amortization of debt discount and debt issuance costs on our convertible notes , and for 2021, interest on the seller note issued in connection with our acquisition of Galileo. (19) Impairment expense includes $247,174 related to goodwill impairment in the third quarter of 2023, and $1,243 related to a sublease arrangement in the first quarter of 2023, which are not indicative of our core operating performance.
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© 2025 Social Finance, Inc. Confidential Information. Do not copy or distribute. Advisory services offer through SoFi Wealth LLC. SoFi Money® is offered through SoFi Securities LLC. SoFi Lending Corp., CFL #6054612. NMLS # 1121636. 48 Footnotes (20) Transaction-related expenses in 2024 and 2023 primarily included financial advisory and professional services costs associated with our acquisition of Wyndham. Transaction-related expenses in 2022 primarily included financial advisory and professional services costs associated with our acquisition of Technisys. (21) Restructuring charges in 2025 and 2024 relate to legal entity restructuring. Restructuring charges in 2023 primarily included employee-related wages, benefits and severance associated with a small reduction in headcount in our Technology Platform segment in the first quarter of 2023 and expenses in the fourth quarter of 2023 related to a reduction in headcount across the Company, which do not reflect expected future operating expenses and are not indicative of our core operating performance. (22) Foreign currency charges reflect the impacts of highly inflationary accounting for our operations in Argentina, which are related to our Technology Platform segment and commenced in the first quarter of 2022 with the Technisys Merger. For the year ended December 31, 2023, all amounts were reflected in the fourth quarter, as inter-quarter amounts were determined to be immaterial. (23) Our adjusted EBITDA measure excludes the non-cash fair value changes in warrants accounted for as liabilities, which were measured at fair value through earnings. The amounts in 2021 related to changes in the fair value of Series H warrants issued by Social Finance in connection with certain redeemable preferred stock issuances. We did not measure the Series H warrants at fair value subsequent to May 28, 2021 in conjunction with the Business Combination, as they were reclassified into permanent equity. In addition, in conjunction with the Business Combination, SoFi Technologies assumed certain common stock warrants (“SoFi Technologies warrants”) that were accounted for as liabilities and measured at fair value on a recurring basis. The fair value of the SoFi Technologies warrants was based on the closing price of ticker SOFIW and, therefore, fluctuated based on market activity. The outstanding SoFi Technologies warrants were either exercised during the fourth quarter of 2021 or redeemed on December 6, 2021. (24) Adjusted noninterest income is a non-GAAP measure. Adjusted noninterest income is defined as noninterest income, adjusted to exclude the fair value changes in servicing rights and residual interests classified as debt due to valuation inputs and assumptions changes, which relate only to our Lending segment, as well as gains and losses on extinguishment of debt. (25) Adjusted net income margin and incremental adjusted net income margin are non-GAAP measures. Adjusted net income margin is defined as adjusted net income (loss), a non-GAAP measure (see footnote 6 herein), divided by adjusted net revenue, a non-GAAP measure (see footnote 4 herein). Incremental adjusted net income margin is defined as the change in adjusted net income (loss), divided by change in adjusted net revenue.