$SOFI beats yet another earnings round, stock up 6%

$SOFI Earnings:

– EPS: $(0.05) – GAAP Net Revenue of $472 Million Up 43%

– $460 Million Adjusted Net Revenue Up 43% Year-over-Year

– Record Adjusted EBITDA of $76 Million Up 772% Year-over-Year and Up 8% Sequentially

– New Member Adds of Over 433,000; Quarter-End Total Members Up 46% Year-over-Year to Nearly 5.7 Million

– New Product Adds of Nearly 660,000; Quarter End Total Products Up 46% Year-over-Year to Nearly 8.6 Million

– Management Raises Full-Year 2023 Guidance

“We delivered another quarter of record financial results and generated our eighth consecutive quarter of record adjusted net revenue, which was up 43% year-over-year. We also generated our third consecutive quarter of record adjusted EBITDA at $76 million, representing a 48% incremental EBITDA margin and a 16% margin overall, as well as a 54% incremental GAAP net income margin,” said Anthony Noto, CEO of SoFi Technologies, Inc. “Strength across all three of our business segments — Lending, Technology Platform and Financial Services — drove these record results.”

Link: https://research.alpha-sense.com/doc/PR-b6f7de14ac63931acb8e285ffc9f39bb40708598?utm_source=alphasense%20platform&utm_medium=document%20share&utm_content=PR-b6f7de14ac63931acb8e285ffc9f39bb40708598&utm_campaign=1682939124563

Full disclosure – long with tons of shares in 5s.