NASDAQ$SOFI
SoFi Technologies Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Reported record GAAP and adjusted revenue, along with substantial member and product growth.
SoFi Technologies reported record GAAP revenue of $286 million and adjusted revenue of $280 million for Q4 2021, representing year-over-year growth of 67% and 54%, respectively. The company achieved a positive adjusted EBITDA of $5 million for the sixth consecutive quarter and added a record 523,000 new members and 906,000 new products during the quarter.
- Total GAAP net revenue reached $285.6 million, up 67% year-over-year.
- Adjusted net revenue was $279.9 million, a 54% increase year-over-year.
- Added a record 523,000 new members, a 39% increase sequentially.
- Added a record 906,000 new products, a 51% increase sequentially.
Headline financials
Revenue & EPS history
SoFi · Revenue · Quarterly
$280M
Revenue by segment
SoFi · $289M total across 3 segments · Q4 2021
- Lending$214M+43.5%74.0%
- Technology Platform$53.3M+42.2%18.4%
- Financial Services$22M+442.0%7.6%
Forward guidance
For Q1 2022, SoFi expects adjusted net revenue of $280 to $285 million and adjusted EBITDA of $0 to $5 million. For full year 2022, the company expects adjusted net revenue to grow 55% year-over-year to $1.57 billion and adjusted EBITDA of $180 million.
Tailwinds
- Federal student loan payment moratorium expiring as contemplated on May 1, 2022.
- Student loan refinance origination volume normalizes to pre-Covid levels partway through the second quarter, and remains at those levels from that point through the remainder of 2022.
- SoFi Bank will begin contributing to SoFi’s results more meaningfully in the second quarter of 2022.
- Technisys revenue growth will be 20% to 25% for full-year 2022, and will begin contributing to SoFi's results following the close of the transaction.
- The core SoFi business (excluding the impact of Technisys) to deliver incremental adjusted EBITDA margins of 30% in 2022.
Headwinds
- The negative impact of the unexpected extension of the federal student loan payment moratorium to May 1, 2022.
- Loan origination levels for the entire quarter will remain consistent with those of the first three quarters of 2021.
- Operations are still in transition to allow loan originations to occur from SoFi Bank. That transition is not expected to be fully complete until the end of May 2022.
- Management expects Technisys to contribute a minimal amount to adjusted EBITDA in 2022, primarily because 2021 was a year of significant investment for Technisys.
- Management currently forecasts Stock-Based Compensation expense of $80 to $85 million for the first quarter of 2022 and $340 million for the full year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2021
+0.3%
Avg return
Earnings day
-2.3%
Avg return
5 days after
-4.2%
Avg return
30 days after
54%
13 / 24 earnings
Positive
+29.4%
Q2 2022
Best reaction
-21.3%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.4% | -11.8% | -0.7% | |
| Q4 2025 | -2.1% | -14.8% | -27.1% | |
| Q3 2025 | +3.7% | -1.1% | -5.0% | |
| Q1 2025 | +0.5% | -3.8% | -0.2% | |
| Q4 2024 | -10.3% | -11.9% | -19.3% | |
| Q3 2024 | +0.3% | -1.3% | +44.1% | |
| Q2 2024 | +2.9% | -9.3% | +9.5% | |
| Q1 2024 | -13.9% | -11.6% | -13.0% | |
| Q4 2023 | +10.2% | +3.4% | +16.3% | |
| Q3 2023 | +9.9% | +16.6% | +7.0% | |
| Q2 2023 | +8.4% | -0.5% | -8.5% | |
| Q1 2023 | -21.3% | -17.2% | +11.4% | |
| Q4 2022 | +16.7% | +25.6% | +8.4% | |
| Q3 2022 | -5.9% | -4.8% | -12.9% | |
| Q2 2022 | +29.4% | +25.2% | -8.0% | |
| Q1 2022 | -8.0% | +13.1% | +2.3% | |
| Q4 2021 | +1.1% | -12.7% | -17.5% | |
| Q4 2019 | +1.1% | -12.7% | -17.5% | |
| Q3 2020 | -4.8% | -10.5% | -33.4% | |
| Q3 2021 | +3.7% | +3.5% | -32.2% | |
| Q2 2020 | -8.3% | -6.3% | +3.1% | |
| Q2 2021 | -11.3% | -18.6% | -9.5% | |
| Q1 2021 | +7.5% | +7.3% | +14.0% | |
| Q4 2020 | -1.7% | -1.0% | -11.5% | |
| Q1 2020 | — | — | — |
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