- SoFi reported record Q3 2026 revenue of $1.4 billion, up 44% year over year.
- It beat estimates, raised its 2026 guidance, and saw its shares jump about 11% premarket.
- Its crypto business is growing but remains a tiny contributor, producing just $1.2 million in net revenue in the prior quarter despite $134.3 million in transaction volume.
Q3 proved to be a profitable one for SoFi Technologies (NASDAQ: SOFI), as the company reported record revenue of $1.4 billion on Tuesday, October 27, 2026.
The figure was a 44% increase when calculated on a year-over-year basis. Also, its shares climbed by 11% in premarket trading. The revenue figures include crypto, the business relaunched by SoFi a year ago.
A record quarter and a raised 2026 forecast
It was a strong quarter in every respect. In Q3, GAAP revenue hit $1.39 billion, with a net income of $241 million and adjusted earnings of $0.18 per share. The revenue and profit numbers were well above estimates from Wall Street. The stock rose to $16.08 premarket after ending the prior session at $14.46.
The record quarter has changed the projections management had for 2026. SoFi has set a 2027 target of about $6.4 billion, as it hit $5.04 billion in adjusted net revenue for 2026. With adjusted EBITDA hitting a record $470 million and a 34% profit margin, 2026 has definitely been a great year for the company.
In the press release, CEO Anthony Noto saw Q3 as proof of SoFi’s evolution from being a one-product lender, saying, “Our conviction in the opportunity ahead has never been greater.” The company is currently made up of 8 businesses, with each business crossing the $100 million revenue mark.
Crypto is still a rounding error in the results
Crypto is part of SoFi’s Financial Services arm. The Financial Services arm saw 25% growth, year over year, and hit $525.1 million in Q3. Its products also grew by 44% to $23.2 million. Most of the growth in that arm was from Money, Relay, Invest, and the credit card, rather than digital assets.
In Q2, SoFi brought in $134.3 million in transaction revenue from crypto trading. However, only $1.2 million of that figure was net revenue, after transaction costs of $133.1million were deducted. Net revenue in Q1 was ~$850,000, which means Q2 saw an increase over Q1.
The business is experiencing rapid growth off a small base. It is also a fraction of a fraction: a seven-figure net contribution against a segment measured in hundreds of millions and a company now clearing well over a billion dollars a quarter.
A year of crypto plumbing behind thin revenue
The slim revenue figures do not in any way mean SoFi has slowed down on crypto. In fact, the company has built lots of crypto infrastructure over the past 12 months, rather than chasing trading fees.
SoFi Crypto was launched on November 11, 2025, as the premier nationally chartered US bank to provide crypto trading as a service directly to consumers. SoFi Crypto offers members the opportunity to buy and hold tokens like Bitcoin (BTC), Ether (ETH), and Solana (SOL) from FDIC-insured checking or savings accounts. However, the assets themselves are not insured.
Since launching SoFi Crypto, the company has paid lots of attention to its stablecoin. SoFi and Payward (parent company of Kraken) reached an agreement to list SoFiUSD on the exchange and link their settlement networks in September.
Weeks later, the company transferred its entire $25 billion card program to SoFiUSD settlement on Mastercard’s network, giving merchants the opportunity to withdraw settlement funds as cash 24/7.
Noto’s long bet on blockchain
CEO Anthony Noto has made clear the reason for SoFi’s continual spending despite a meager amount of trading revenue. “I believe blockchain technology will fundamentally change every way finance is done throughout the world,” he said.
He went on to call crypto and blockchain a “super cycle” that can be compared to AI.
For now, investors are rewarding the broader platform, not the digital-asset bet. The question for the coming quarters is whether crypto net revenue can scale into something that matters against a company guiding toward $6.4 billion in 2027 revenue.
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FAQs
How much revenue does SoFi's crypto business actually generate?
In the second quarter of 2026, crypto trading produced $134.3 million in transaction revenue but only about $1.2 million in net revenue after $133.1 million in transaction costs, up from roughly $850,000 in the first quarter.
When did SoFi launch crypto trading for consumers?
SoFi launched SoFi Crypto on November 11, 2025, saying it became the first and only nationally chartered US bank to offer crypto trading directly to consumers.
What is SoFiUSD and where is it used?
SoFiUSD is SoFi Bank's dollar-pegged stablecoin, redeemable 1:1 for US dollars, now listed on Kraken and used to settle SoFi's entire $25 billion card program across Mastercard's network, according to Cryptopolitan's reporting.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Hannah Collymore
Hannah is a writer and editor with nearly a decade of blog writing and event reporting experience in the crypto space. At Cryptopolitan, Hannah contributes to the news page, reporting and analyzing the latest developments in DeFi, RWA, crypto regulation, AI and frontier tech industries. She graduated from Arcadia university with a degree in Business Administration.
