SoFi Technologies, Inc. (NASDAQ:SOFI) shares are trading lower Wednesday after the company reported first-quarter financial results and second-quarter revenue guidance below estimates.

Q1 Highlights

SoFi reported adjusted earnings per share of 12 cents, inline with the consensus estimate. In addition, it reported revenue of $1.08 billion, beating the consensus estimate of $1.05 billion.

Total loan originations reached a record $12.2 billion in the quarter. 

Member growth rose 35% year-over-year to 14.7 million, while total products increased 39% to 22.2 million. 

Cash and cash equivalents totaled approximately $3.40 billion as of March 31, 2026, compared to $4.93 billion at the end of 2025.

"We had an excellent Q1 delivering another quarter of durable growth and strong returns," said CEO Anthony Noto. 

SoFi expects second-quarter revenue to be $1.11 billion, versus the consensus estimate of $1.12 billion. Furthermore, the company expects fiscal-year adjusted earnings per share to be more than 60 cents, versus the consensus estimate of 60 cents. Lastly, the company anticipates fiscal-year revenue to be more than $4.65 billion, versus the consensus estimate of $4.65 billion.

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SoFi Shares Fall

SOFI Price Action: At the time of publication, SoFi shares are trading 12.20% lower at $16.13, according to data from Benzinga Pro.

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