SoFi Technologies reported impressive financials for the first quarter of 2025. The company doubled profit estimates and achieved a 200% year-over-year increase in non-GAAP profits to $0.06 per share. SoFi added 800,000 new customers, reaching a total of 10.92 million users.
The company projects over 13 million users by year-end, driven primarily by its Financial Services segment. The Financial Services segment saw 101% year-over-year sales growth and a 299% year-over-year profit increase. This segment is the primary growth catalyst for SoFi Technologies.
Doubling profit projections
With a raised forecast for 2025 and a strong growth trajectory, SoFi Technologies offers an attractive valuation. The company is poised for significant profit scaling.
Hiroshi Watanabe, an analyst, notes that SoFi Technologies reported six cents per share in profits last week. This was double the consensus profit estimate thanks to robust momentum in all of its business segments, including Lending, Financial Services, and Technology. Overall, SoFi Technologies demonstrates robust financial health and promising growth prospects.
This solidifies its position as a strong contender in the fintech industry.