SoFi Technologies Inc (OQ:SOFI)
Business Focus: Consumer Lending
| Sector: Financials | Industry: Consumer Lending |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 234 1st Street SAN FRANCISCO CA 94105 |
| Tel: | N/A |
| Website: | https://www.sofi.com |
| IR: | See website |
| Key People | ||
| Anthony J. Noto Chief Executive Officer, Director | Christopher Lapointe Chief Financial Officer | Derek White Chief Executive Officer of Galileo and Head of SoFi International |
| Jeremy Rishel Chief Technology Officer | Arun Pinto Chief Risk Officer | Stephen Simcock General Counsel |
| Business Overview |
| SoFi Technologies, Inc. is a provider of financial services. The Company, through its lending and financial services products, allows members to borrow, save, spend, invest, and protect their money. It operates through three segments: Lending, Technology Platform and Financial Services. The Lending Segment offers personal loans, student loans, home loans and related servicing. Its platform supports the full transaction lifecycle, including credit application, underwriting, approval, funding, and servicing. The Technology Platform segment provide technology platform services through a diversified suite of offerings which include an event and authorization platform accessed via application programming interfaces, a cloud-native digital and core banking platform and services related to both platforms. The Financial Services segment include SoFi Money, SoFi Invest, and other services, including SoFi Credit Card, Lantern Credit, SoFi Relay, SoFi Protect, and SoFi Travel. |
| Financial Overview |
| For the six months ended 30 June 2024, SoFi Technologies Inc interest income increased 59% to $1.34B. Net interest income after loan loss provision increased 57% to $796.5M. Net income applicable to common stockholders totaled $85.9M vs. loss of $102M. Net interest income after loan loss provision reflects Financial Services segment increase of 95% to $258.9M, Net Interest Margin - Total - % increase of 5% to 5.87%. |
| Employees: | 4,400 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $9,017M as of Jun 30, 2024 |
| Annual revenue (TTM): | $2,550M as of Jun 30, 2024 |
| EBITDA (TTM): | $1,279M as of Jun 30, 2024 |
| Net annual income (TTM): | -$153.23M as of Jun 30, 2024 |
| Free cash flow (TTM): | -$2,842M as of Jun 30, 2024 |
| Net Debt Last Fiscal Year: | $772.76M as of Jun 30, 2024 |
| Shares outstanding: | 1,065,112,270 as of Jun 30, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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