SoFi Reports 503,070 Crypto Products and Record $1.385 Billion in Net Revenue
Key Facts
SoFi disclosed 503,070 open crypto products on its platform as of September 30, 2026, the first figure of its kind in the results presented. The announcement came as the company reported generally accepted accounting principles (GAAP) net revenue of $1.385 billion in the third quarter. That measure rose 44% from $961.600 million in the same quarter of 2025. The crypto figure describes open products and does not represent the number of unique users. The published table also did not include a comparable figure for the number of crypto products in 2025.
According to SoFi’s disclosure, gross revenue from crypto transactions was $161.606 million in the three months ended September 30, 2026. But the company recorded $159.973 million in costs related to those transactions over the same period. After those costs, net revenue from the activity came to $1.633 million. The difference puts gross revenue in context, as it alone does not reflect what the company retained from the activity after transaction costs. The disclosure did not include comparable revenue from crypto transactions in the same quarter of 2025.
SoFi launched its crypto service in the fourth quarter of 2025, allowing members to buy, sell and hold digital assets. The reported product count follows the service’s launch and provides an indication of the number of open products on the platform at the end of the third quarter of 2026. Across the company, total products rose 44% year over year to 26.7 million. The number of members also increased 35% to 17.1 million at quarter-end. The company said it added 1.2 million members during the quarter, a record, according to its disclosure.
In the financial services segment, revenue rose 25% year over year to $525.1 million in the third quarter. Net interest income was $281.3 million, up 38% from the same period a year earlier. SoFi attributed the increase mainly to growth in consumer deposits. Financial services revenue was $90 per product, compared with $88 in the second quarter of 2026. These indicators put crypto activity within a broader services base that includes other sources of income and growth in the number of products and members.
SoFi’s net income was $240.989 million in the third quarter, compared with $139.392 million in the same period of 2025, a 73% year-over-year increase. Adjusted net revenue was $1.371 billion, up 44% year over year. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $469.818 million, an increase of 70%. Adjusted net revenue is a separate measure from GAAP net revenue of $1.385 billion. Comparing the figures shows why the two measures must be distinguished when reading the company’s results.
SoFi raised its 2026 fiscal-year outlook to $5.04 billion in adjusted net revenue and $1.66 billion in adjusted earnings before interest, taxes, depreciation and amortization. It also issued 2027 fiscal-year forecasts of $6.4 billion and $2.24 billion for the same two measures. In premarket trading on October 27, 2026, the company’s shares rose 9%, according to Reuters, after it raised its revenue outlook and third-quarter results beat Wall Street estimates. The share move came on the day the results and new forecasts were announced. The outlook for the next two years is the latest framework the company has provided for its revenue and adjusted earnings trajectory.