SOFI
Q1: the ‘everything app’ finally brought receipts
SoFi said it reported first-quarter 2026 results on April 29, and the headline numbers were loud enough to wake up anyone doom-scrolling earnings season. Net revenue hit a record $1.1 billion, net income came in at $167 million, and the company kept stacking members and products like it was playing the world’s most profitable game of Monopoly.
Growth is still doing laps
The company said members grew 35% and products rose 39% year over year. That matters because SoFi’s whole pitch is basically: get people in the door with one product, then keep selling them more financial stuff before they wander off to a competitor with worse branding and a better spreadsheet.
- More members usually means more chances to cross-sell loans, deposits, investing, and payments
- More products per member tends to be where the margin magic starts to show up
- Net income staying positive suggests this isn’t just growth for growth’s sake
Why investors are paying attention
For a company like SoFi, the market usually wants two things at once: fast growth and proof that the business can actually make money. This quarter gives both a pretty friendly handshake. If management can keep the growth engine humming without torching profitability, the stock story gets a lot less speculative and a lot more grown-up.
Big picture: SoFi is trying to prove it can be both a fintech growth machine and a real business. This quarter says, at least for now, it’s making a pretty good case.