Q3 proved to be a profitable one for SoFi Technologies (NASDAQ: SOFI), as the company reported record revenue of $1.4 billion on Tuesday, October 27, 2026. The figure was a 44% increase when
Q3 proved to be a profitable one for SoFi Technologies (NASDAQ: SOFI), as the company reported record revenue of $1.4 billion on Tuesday, October 27, 2026.
The figure was a 44% increase when calculated on a year-over-year basis. Also, its shares climbed by 11% in premarket trading. The revenue figures include crypto, the business relaunched by SoFi a year ago.
It was a strong quarter in every respect. In Q3, GAAP revenue hit $1.39 billion, with a net income of $241 million and adjusted earnings of $0.18 per share. The revenue and profit numbers were well aboveestimates from Wall Street. The stock rose to $16.08 premarket after ending the prior session at $14.46.
The record quarter has changed the projections management had for 2026. SoFi has set a 2027 target of about $6.4 billion, as it hit $5.04 billion in adjusted net revenue for 2026. With adjusted EBITDA hitting a record $470 million and a 34% profit margin, 2026 has definitely been a great year for the company.
In the press release, CEO Anthony Noto saw Q3 as proof of SoFi’s evolution from being a one-product lender, saying, “Our conviction in the opportunity ahead has never been greater.” The company is currently made up of 8 businesses, with each business crossing the $100 million revenue mark.
Crypto is part of SoFi’s Financial Services arm. The Financial Services arm saw 25% growth, year over year, and hit $525.1 million in Q3. Its products also grew by 44% to $23.2 million. Most of the growth in that arm was from Money, Relay, Invest, and the credit card, rather than digital assets.
In Q2, SoFi brought in $134.3 million in transaction revenue from crypto trading. However, only $1.2 million of that figure was net revenue, after transaction costs of $133.1million were deducted. Net revenue in Q1 was ~$850,000, which means Q2 saw an increase over Q1.
The business is experiencing rapid growth off a small base. It is also a fraction of a fraction: a seven-figure net contribution against a segment measured in hundreds of millions and a company now clearing well over a billion dollars a quarter.
The slim revenue figures do not in any way mean SoFi has slowed down on crypto. In fact, the company has built lots of crypto infrastructure over the past 12 months, rather than chasing trading fees.
SoFi Crypto was launched on November 11, 2025, as the premier nationally chartered US bank to provide crypto trading as a service directly to consumers. SoFi Crypto offers members the opportunity to buy and hold tokens like Bitcoin (BTC), Ether (ETH), and Solana (SOL) from FDIC-insured checking or savings accounts. However, the assets themselves are not insured.
Since launching SoFi Crypto, the company has paid lots of attention to its stablecoin. SoFi and Payward (parent company of Kraken)reached an agreement to list SoFiUSD on the exchange and link their settlement networks in September.
Weeks later, the company transferred its entire $25 billion cardprogram to SoFiUSD settlement on Mastercard’s network, giving merchants the opportunity to withdraw settlement funds as cash 24/7.
CEO Anthony Noto has made clear the reason for SoFi’s continual spending despite a meager amount of trading revenue. “I believe blockchain technology will fundamentally change every way finance is done throughout the world,” he said.
He went on to call crypto and blockchain a “super cycle” that can be compared to AI.
For now, investors are rewarding the broader platform, not the digital-asset bet. The question for the coming quarters is whether crypto net revenue can scale into something that matters against a company guiding toward $6.4 billion in 2027 revenue.
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