SoFi Technologies delivered strong Q3 2024 results with total net revenue reaching $697.1M, up 30% YoY, while achieving net income of $60.7M compared to a loss of $266.7M in Q3 2023. The company reported diluted EPS of $0.05, marking its fourth consecutive quarter of positive net income. Net interest income grew 25% YoY to $431.0M, though net interest margin decreased 42 bps YoY to 5.57%.The company demonstrated robust growth across all business segments, with member base expanding 35% YoY to 9.4M and total products increasing 31% YoY to 13.7M. Financial Services revenue doubled YoY to $238.3M, while Technology Platform revenue grew 14% to $102.5M. Lending segment showed strong performance with origination volume up 23% YoY to $6.3B.SoFi maintained a strong financial position with total deposits reaching $24.4B, including a $2.4B increase during Q3. The company's total capital ratio stood at 16.3% with available liquidity capacity of $10.2B. The board underwent changes with two directors stepping down, reducing the size to eleven members.

SoFi Technologies delivered strong Q3 2024 results with total net revenue reaching $697.1M, up 30% YoY, while achieving net income of $60.7M compared to a loss of $266.7M in Q3 2023. The company reported diluted EPS of $0.05, marking its fourth consecutive quarter of positive net income. Net interest income grew 25% YoY to $431.0M, though net interest margin decreased 42 bps YoY to 5.57%.The company demonstrated robust growth across all business segments, with member base expanding 35% YoY to 9.4M and total products increasing 31% YoY to 13.7M. Financial Services revenue doubled YoY to $238.3M, while Technology Platform revenue grew 14% to $102.5M. Lending segment showed strong performance with origination volume up 23% YoY to $6.3B.SoFi maintained a strong financial position with total deposits reaching $24.4B, including a $2.4B increase during Q3. The company's total capital ratio stood at 16.3% with available liquidity capacity of $10.2B. The board underwent changes with two directors stepping down, reducing the size to eleven members.