SoFi Technologies, Inc. (NASDAQ: SOFI) has gained approximately 16.5% since its most recent earnings report, outpacing the broader S&P 500 over the same period.

The company delivered second-quarter 2026 adjusted earnings per share of 12 cents, beating the Zacks Consensus Estimate by 9.1% and signaling continued operational strength.

Adjusted net revenues climbed 40% year over year to $1.21 billion, surpassing the Zacks Consensus Estimate of $1.11 billion by 8.3%, while total net revenues reached $1.22 billion, up 43% annually.

Adjusted EBITDA rose 44% to $357.8 million, with the adjusted EBITDA margin expanding to 30% compared with 29% in the prior-year quarter, reflecting improved profitability alongside continued growth investment.

Net interest margin remained healthy at 5.98%, up 12 basis points year over year, supporting a 52% increase in net interest income to $788.2 million.

Management noted that the second quarter marked the company’s 19th consecutive quarter meeting the Rule of 40 benchmark, recording a score of 70 based on 40% adjusted net revenue growth and a 30% adjusted EBITDA margin.

SoFi added 1.1 million new members during the quarter, bringing total membership to 15.8 million, a 35% increase year over year that underscores sustained platform demand.

Product growth outpaced member growth, with a record 2.2 million products added in the quarter, lifting total products to 24.4 million, up 42% annually, while products per member reached an all-time high of 1.54.

Existing members opened 51% of new products during the quarter, compared with 35% in second-quarter 2025, indicating that cross-buy trends are accelerating meaningfully across the platform.

SoFi Plus surpassed 200,000 paid members, and SoFi Coach generated more than 500,000 conversations with more than 90% positive feedback, pointing to deeper user engagement across the ecosystem.

The Lending segment remained the primary growth engine, with adjusted net revenue rising 59% year over year to $711.7 million and contribution profit climbing 63% to $399 million.

Total loan originations hit a record $14.8 billion, up 69% year over year, driven by personal loan originations of $10.7 billion, student loan originations of $2.7 billion, and home loan originations of $1.4 billion.

Credit quality held up well, with the personal loan net charge-off rate falling to 2.62%, down 21 basis points year over year, while student loan net charge-offs came in at 0.61%, down 33 basis points annually.

The Financial Services segment posted net revenue growth of 29% year over year to $466.3 million, with interchange revenues rising 55% and brokerage revenues roughly 2.5 times higher year over year.

Deposits reached $45.5 billion as of June 30, 2026, up 21% from year-end 2025, reinforcing SoFi’s funding base and balance sheet flexibility heading into the second half of the year.

The Technology Platform segment remained a soft spot, with net revenues declining 23% year over year to $84.5 million following the departure of a large client before year-end 2025, and contribution profit falling 65% to $11.8 million.

Management relaunched the segment under the unified SoFi Tech Solutions brand, emphasizing processing, core ledger, payments hub, and risk and fraud capabilities as key pillars of a rebuilt growth strategy.

Total assets reached $60.95 billion at quarter-end, up from $50.66 billion at year-end 2025, while the total risk-based capital ratio stood at a healthy 18.8% with available liquidity of $13.7 billion.

Management raised full-year 2026 adjusted net revenue guidance to a range of $4.75 billion to $4.85 billion, implying 32% to 35% year-over-year growth, up from a prior outlook of approximately 30% growth.

Full-year guidance for adjusted EBITDA of approximately $1.6 billion, adjusted net income of approximately $825 million, and adjusted EPS of approximately 60 cents was maintained, alongside an expectation for total member growth of at least 30% in fiscal 2026.

Despite the strong operational results, SoFi currently holds a Zacks Rank of 3 (Hold), with estimates broadly trending downward since the earnings release and an aggregate VGM Score of F, suggesting analysts expect only an in-line return over the coming months.