SoFi Achieves Record Q4 Revenue After Reentering Crypto Market
- SoFi Technologies reported record fourth-quarter revenue of $1 billion, a year-on-year increase of 37%.
- GAAP net income for the quarter reached $173.5 million, while adjusted EBITDA rose by 60% to $317.6 million.
- Total fee-based revenue hit a record $443 million, with total members growing by approximately 35% to reach 13.7 million.
- SoFi added over 63,000 crypto products following its reintroduction of consumer crypto services on December 22.
- The company also launched SoFiUSD, a US dollar-backed stablecoin, in December.
These results reflect SoFi’s strategic return to the cryptocurrency market after a pullback in November, coinciding with broader trends among US banks showing increased interest in crypto initiatives.
With total financial services products increasing by about 38% year over year to reach over 17.5 million, SoFi’s strong performance underscores its commitment to expanding digital asset offerings and customer engagement.
