SoFi stock climbs 15% after FY2022 guidance tops consensus

Mar. 01, 2022 4:30 PM ETSoFi Technologies, Inc. (SOFI)By: Liz Kiesche, SA News Editor50 Comments

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  • SoFi Technologies (NASDAQ:SOFI) stock jumped 15% in after-hours trading after the company said it expects FY2022 adjusted net revenue to increase 55% to $1.57B vs. $1.45B Visible Alpha consensus.
  • The fintech expects adjusted EBITDA of $180M for the year vs. consensus of $157.1M.
  • SoFi (SOFI) expects Q1 adjusted net revenue of $280M-$285M vs. $303.6M consensus. The Q1 guidance incorporates a $30M-$35M negative impact to revenue from the extension of the federal student loan payment moratorium to May 1, 2022. For adjusted EBITDA, it expects $0M-$5M vs. Visible Alpha consensus of $19.4M.
  • Q4 GAAP EPS of -$0.15 vs. -$0.16 consensus, -$0.05 in Q3, and -$1.85 in the year-ago quarter.
  • Q4 adjusted revenue of $279.9M vs. $279.5M consensus and $272.0M in Q3 and $182.0M in Q4 2020.
  • In Q4, SoFi (SOFI) added 523K new members, bringing total members to 3.5M at year-end vs. 2.9M in Q3.
  • Q4 adjusted EBITDA was $4.59M.
  • Total products increased to 5.2M vs. 4.3M at Q3-end; added ~906K new products, 51% higher than the ~600K added in Q3.
  • Lending segment adjusted revenue of $208.0M vs. $215.5M in Q3.
  • Financial Services segment total net revenue of $22.0M vs. $12.6M in Q3.
  • Technology Platform total accounts increased to 99.7M at Dec. 31, 2021 from 88.8M at Sept. 30; total net revenue of $53.3M vs. $50.2M in Q3.
  • Conference call at 5:00 PM ET.
  • Earlier, SoFi Technologies (SOFI) GAAP EPS of -$0.15 beats by $0.01, revenue of $279.88M beats by $0.41M

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