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SoFi raises 2024 revenue forecast but keeps profit targets flat, focusing on fee-based growth.

Company Fundamentals
01 Sep 2026
Seeking Alpha
View Source
Bearish
pluang ai news

SoFi Technologies beat Q2 earnings expectations but saw its stock drop about 9%. The company raised its 2024 revenue guidance to $4.75–$4.85 billion while maintaining profit targets, choosing to reinvest additional revenue into growth initiatives. Fee-based revenue now makes up 39% of total revenue, driven by its Loan Platform Business, which grows without adding credit risk. Key risks include share dilution, rising capital needs, and the challenge of improving margins above 30% in upcoming quarters.

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