SoFi Technologies Inc ( SOFI ) reported second-quarter financial results before the market open on Tuesday. Here’s a look at the key details from the quarter.

Q2 Earnings: SoFi reported second-quarter revenue of $858.23 million, beating analyst estimates of $801.49 million, according to Benzinga Pro. The company reported second-quarter adjusted earnings of 8 cents per share, beating estimates of 6 cents per share.

Total revenue was up 44% year-over-year as fee-based revenue climbed 72%. Members grew 34% year-over-year to 11.7 million and products increased 34% year-over-year to 17.1 million.

SoFi originated $8.8 billion in loans during the quarter, with personal loans up 66%, student loans up 35% and home loans up 92%. SoFi’s annualized charge-off rate decreased from 3.31% to 2.83% for personal loans.

The company ended the quarter with $2.12 billion in cash and cash equivalents.

“We had an exceptional second quarter, driving durable growth and strong returns through our relentless focus on product innovation and brand building,” said Anthony Noto, CEO of SoFi.

“Looking forward, we are focusing on innovating faster than ever before to serve more of our members’ needs and increasing our financial guidance for 2025.”

Guidance: SoFi raised its full-year 2025 revenue outlook from a range of $3.24 billion to $3.31 billion to a new target of approximately $3.38 billion versus estimates of $3.27 billion, according to Benzinga Pro.

SoFi also raised its full-year earnings forecast from a range of 27 cents to 28 cents per share to 31 cents per share versus estimates of 28 cents per share.

The company expects to add at least 3 million new members in 2025, representing growth of approximately 30% year-over-year.

SOFI Price Action: SoFi shares were up 17.7% at $24.75 at the time of publication Tuesday, according to Benzinga Pro.

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