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Globe and Mail
15 minutes ago
- Globe and Mail
5 Important Takeaways From SoFi's Blowout Earnings Report
Key Points SoFi reported earnings that handily beat expectations on both the top and bottom lines. The loan platform business is generating an impressive stream of fee income. SoFi's asset quality is improving, with the net charge-off ratio declining by more than 40 basis points. 10 stocks we like better than SoFi Technologies › SoFi Technologies (NASDAQ: SOFI) recently reported its second-quarter earnings, and the stock soared to a multiyear high. Not only were the numbers generally stronger than analysts had been looking for, but the company also is growing in all the right ways and has big plans. With that in mind, here are some of the key takeaways from SoFi's earnings report that you need to know, and what to keep an eye on. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » 1. Growth momentum isn't slowing down In the second quarter, revenue growth was 44% year over year, an acceleration over its prior rate. The company grew its membership base by 34% year over year, adding 846,000 new members, the highest single-quarter total ever. 2. Capital-light revenue streams are strong SoFi has been a personal lender for years, but the recent focus has been on the loan platform business, which consists of several capital-light streams of fee income. In addition to securitizing loans and selling them to investors, the company has been originating a high volume of loans on behalf of third parties and referring applicants to other lending partners. Its loan platform is generating high-margin fee income at a rate of more than $500 million annually on a run rate of $9.5 billion in loan originations. Fee-based revenue now makes up 44% of the company's total, compared with 27% a couple of years ago, and this shift is a big reason for SoFi's surprisingly strong profitability. Noninterest income roughly quadrupled year over year, and the loan platform business has been the primary driver. 3. Profits are better than expected Not only did SoFi produce better-than-expected profitability in the second quarter, but the company also reported its highest earnings per share (EPS) ever. It produced an 11% adjusted net margin, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 80% year over year. And management raised its full-year 2025 guidance for all major profitability metrics and now expects EPS to more than double from 2024 levels. 4. Asset quality is improving SoFi's loan net charge-off rate ticked higher in 2023 but it has been in a clear downward trend for nearly two years. Since it peaked at 3.98% in late 2023, the net charge-off rate for personal loans has declined to 2.83%, including a 48-basis-point sequential drop in the most recent quarter. 5. More than personal loans SoFi is well known for its personal loan business, and for good reason. But the company also originates student loans and home loans, and I'd argue that these are underappreciated growth drivers. In the second quarter, student loan volume grew by 35%, and I wouldn't be surprised to see it accelerate in the second half of the year, since more pandemic-era federal student loan protections have expired recently. For example, borrowers whose loans are in limbo as the SAVE repayment plan makes its way through the legal system just recently saw interest start accumulating on their student loans again. Perhaps most exciting is the fintech's home loan business, which grew volume by more than 90% year over year despite a slow real estate market and persistent high interest rates. There's a lot of pent-up demand for home purchases as well as for refinancing and home equity lines of credit, and if mortgage rates fall, this could become a big business. What to watch The second half of 2025 could be an exciting time for SoFi. The Federal Reserve is widely expected to resume interest rate cuts, and this could help lower the company's deposit cost. Also, management is bringing back cryptocurrency trading before the end of the year and has other big plans to integrate cryptocurrency and blockchain technology throughout its platform. Along with its earnings report, SoFi announced a plan to raise $1.5 billion in fresh capital by selling new common stock. With plenty of growth opportunities, this could help take its business to the next level. Should you invest $1,000 in SoFi Technologies right now? Before you buy stock in SoFi Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and SoFi Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 4, 2025
CTV News
an hour ago
- CTV News
African vendors showcase culture, fashion and food at Sudbury market
African vendors showcase culture, fashion and food at Sudbury market Sudbury hosts its first African Market Connect trade fair Saturday at Tom Davies Square from 10 a.m. to 5 p.m., with 19 vendors showcasing food, fashion and more at the event, aimed at supporting African businesses year-round. Organizers say they plan to hold markets monthly.
CTV News
an hour ago
- CTV News
Brokenhead Ojibway Nation votes against proposed silica mining partnership
Members of Brokenhead Ojibway Nation (BON) have voted against a proposed partnership with a silica mining company following a community referendum held last week. According to results shared by the First Nation on Facebook, 310 ballots were cast. A total of 181 members voted 'no' to the proposal, while 129 voted 'yes.' In the social media post, Chief and council thanked community members for participating and said they respect the outcome. 'Any proposal to extract resources from our territory must be presented to our membership,' the post read. 'This is the expectation of BON for all resource development proponents and is an important step in ensuring our members are meaningfully involved in decision-making.' The leadership said the referendum will serve as a foundation for developing clearer, community-driven processes for future engagement. Brokenhead Ojibway Nation is located about 70 kilometres northeast of Winnipeg.
