All articles tagged with #member growth
SoFi Technologies' stock surged 15% after beating Q2 earnings estimates, raising its revenue and earnings outlook, and projecting significant member growth for the year, reflecting strong financial performance and optimistic future prospects.
SoFi Technologies Inc reported strong financial results for Q4 and fiscal year 2023, with GAAP net revenue reaching $615 million in Q4, up 35% year-over-year, and adjusted EBITDA hitting a record $181 million, a 159% increase year-over-year. The company also saw significant member and product growth, with over 7.5 million members and 11.1 million products. Management provided guidance for Q1 2024, expecting adjusted net revenue between $550 to $560 million and adjusted EBITDA between $110 to $120 million. The company's positive performance and outlook demonstrate its successful execution of its growth strategy and resilience in a challenging economic environment.