Why It’s Time to Load Up on SoFi Stock

SoFi Technologies (SOFI) continues to post robust quarterly results, yet its share price remains down 43.5% from its 52-week peak, trailing the broader market.

SoFi's underperformance stems largely from the market's anxiety over the company's evolving revenue mix. In recent quarters, the company has become more reliant on its lending business, which requires substantial capital and exposes the company to greater credit risk. That concern intensified in the second quarter as lending once again expanded faster than SoFi's non-lending businesses, putting additional pressure on the stock.

The company's second-quarter earnings reflect this shift. SoFi generated $1.2 billion in adjusted net revenue, a 40% year-over-year increase, with the Financial Services and Technology Platform arms contributing $551 million, or 46% of the total. That represents a notable decline in the contribution from non-lending operations. For comparison, these businesses accounted for 57% of SoFi's total revenue at the end of 2025.

Although SoFi's non-lending segments continue to expand, lending has evolved as the primary driver of revenue growth. The fintech has also been retaining a greater proportion of loans on its balance sheet to capture higher returns. This strategy can boost net interest income and overall profitability, but it also ties up substantial capital and increases SoFi's exposure to losses if borrowers default.

Diversifying Revenue Streams Boosts SoFi's Growth Potential

Despite lagging behind the broader market in 2026, SoFi has strong catalysts that could spur a sharp recovery in its share price. The fintech continues to grow its member base and is benefiting from higher customer lifetime value.

SoFi expanded its user network by roughly 1.1 million during Q2, bringing its total base to 15.8 million, a 35% surge year-over-year. Product uptake jumped simultaneously, with a record 2.2 million new products opened (up 42% YoY to 24.4 million total). This growth reflects SoFi driving engagement across its existing customers. Multiplying product adoption per user boosts individual customer value while lowering average acquisition expenses. That drives higher operational efficiency for the company.