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Lending Platform SoFi's Revenue Jumps 56% in Q3

The company's Nasdaq-listed shares rose 13% in premarket trading.

By Jamie Crawley
AccessTimeIconNov 1, 2022 at 11:56 a.m. UTC
Updated May 9, 2023 at 4:01 a.m. UTC
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Nasdaq-listed SoFi (SOFI), an online lending platform, said Tuesday that its third-quarter revenue rose 56% from the year-earlier quarter to $424 million.

The platform, which has a digital-asset trading subsidiary, also said in a filing with the U.S. Securities and Exchange Commission that its earnings before interest, taxes, depreciation and amortization (Ebitda) surged to $44.3 million in the quarter, more than quadruple the $10.3 million from a year earlier.

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    • Membership rose 1.8 million from a year ago to 4.7 million. That included an increase of 424,000 in the last quarter.

    Shares of SoFi rose 13% to $6.17 in premarket trading.

    Read more: WisdomTree's Q3 Crypto Assets Under Management Falls 36%


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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter

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