SoFi added a record 905,000 new members in Q3, totaling 12.6 million members, with a 35% year-over-year increase. Q3 revenue was $950M, up 38% YoY, with an EPS of $0.11, a 120% increase from the prior year. Full-year guidance was raised to $3.54B in net revenue and $455M in adjusted net income. SoFi’s stock is up 96% in the year and 150% in the past five years. The company offers a range of financial services, including zero-commission stock trading and crypto trading, attracting young users.

SoFi is capitalizing on the shift to digital banking, adding a record number of new members in Q3 and projecting a 34% jump in new members this year. The platform offers a variety of financial services on a single mobile app, including high-yield savings accounts, loans, mortgage refinancing, and crypto trading. SoFi recently reentered the crypto market, offering trading of Bitcoin and Ethereum with plans to expand to all members. With a member base of 12.6 million, SoFi could dominate the long-term crypto market.

SoFi reported impressive Q3 fundamentals, with revenue of $950M, a 38% YoY increase, and an EPS of $0.11, up 120% YoY. Management raised full-year guidance to $3.54B in net revenue and $455M in adjusted net income. Analysts are optimistic about the company’s future, and the financial services segment saw significant revenue growth. SoFi is expected to continue its growth story and could double investors’ money in the next five years.

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