5 Must-Read Analyst Questions From SoFi's Q3 Earnings Call

SoFi’s third quarter results were met with a positive market reaction, as the company delivered revenue, adjusted earnings, and EBITDA that were above Wall Street expectations. Management attributed this performance to accelerating member acquisition, with CEO Anthony Noto highlighting that SoFi added a record 905,000 new members. The company’s one-stop-shop strategy, centered on broadening its financial services and technology platform offerings, drove both product adoption and engagement, with cross-buy rates reaching their highest level since 2022. Noto pointed to the deliberate diversification away from capital-intensive lending toward fee-based, capital-light revenue streams, which powered margin improvements and overall profitability.

Is now the time to buy SOFI? Find out in our full research report (it’s free for active Edge members).

While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our Top 5 Analyst Questions From SoFi’s Q3 Earnings Call

• Dan Dolev (Mizuho): asked about consumer credit quality. CEO Anthony Noto emphasized consistent underwriting standards and strong borrower performance, with CFO Chris Lapointe noting increased demand from capital markets partners.
• John Hecht (Jefferies): inquired about the impact of lower rates on lending mix. Noto explained that lower rates would benefit student and home loan businesses, while Lapointe discussed maintaining healthy net interest margins through pricing discipline.
• Kyle Joseph (Stephens): questioned drivers of member growth. Noto identified increased brand awareness and upcoming product launches as key contributors, noting efficient marketing spend and growing cross-sell rates.
• Andrew Jeffrey (William Blair): asked about funding diversification as nonpersonal loan origination grows. Noto pointed to the importance of deposit funding and the potential for blockchain-based funding, while Lapointe detailed ongoing shifts toward capital-light revenue.
• Devin Ryan (Citizens Financial Group): sought clarity on future student loan opportunities given possible government actions. Noto said SoFi would pursue opportunities from government loan sales and new loan types, viewing these as positive catalysts for growth.

Catalysts in Upcoming Quarters

In the coming quarters, the StockStory team will be monitoring (1) the pace and adoption of new products like SoFi Pay and the Smart Card, (2) further expansion of fee-based revenue streams through technology platform partnerships and crypto trading, and (3) the impact of changing interest rates on loan origination and refinancing demand. Execution on these fronts will be critical for sustaining SoFi’s member growth and profitability trajectory.

SoFi currently trades at $30.38, up from $30.06 just before the earnings. At this price, is it a buy or sell? The answer lies in our full research report (it’s free for active Edge members).

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