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Research Alert: Sofi Q1: Sofi Meets Expectations, But Provides Stale Guidance

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

SOFI delivered strong Q1 results with record adjusted net revenue of $1.09B (+41% Y/Y), beating Street expectations of $1.05B, while EPS of $0.12 matched expectations versus $0.06 prior year. The quarter showed strong momentum with record member additions of 1.055M bringing total membership to 14.7M (+35% Y/Y) and product additions of ~2.0M reaching 22.2M total products (+39% Y/Y). Cross-buy reached 43%, demonstrating the effectiveness of SoFi's integrated financial services ecosystem and platform strategy. However, unchanged 2026 guidance and soft Q2 outlook left investors wanting more despite the strong performance. We believe the strategic shift toward capital-light fee-based revenue streams enhances business durability, with fee-based revenue reaching $386.8M (+23%) and loan originations hitting record $12.2B (+68%). Credit quality remained healthy with improved charge-off rates and deposit growth to $40.2B supporting our positive view of SoFi's risk management.

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