Welcome to our dedicated page for SoFi Technologies news (Ticker: SOFI), a resource for investors and traders seeking the latest updates and insights on SoFi Technologies stock.
SoFi Technologies, Inc. (symbol: SOFI) is a forward-thinking financial services company founded in 2011 and headquartered in San Francisco. Initially renowned for its student loan refinancing, SoFi has significantly broadened its product lineup to cater to a wide array of financial needs. Today, SoFi offers personal loans, credit cards, mortgages, investment accounts, banking services, and comprehensive financial planning, making it a one-stop financial hub for its members.
One of SoFi's standout features is its commitment to empowering members to achieve financial greatness through innovative products and exceptional service. The company operates primarily through its user-friendly mobile app and website, providing fast, seamless access to financial tools and services.
In 2020, SoFi expanded its capabilities by acquiring Galileo Financial Technologies, a move that strengthened its infrastructure for payment processing and digital banking. This acquisition allows SoFi to offer enhanced debit card services and account management solutions.
Recent Achievements and Current Projects:
- SoFi has continued to innovate with new product launches and updates, including improved investment tools and expanded banking features.
- The company has forged strategic partnerships to enhance its service offerings and reach.
- SoFi maintains a strong focus on community engagement, providing resources and support to help members succeed in their financial journeys.
SoFi's financial condition remains robust, underpinned by a clear strategy for growth and a commitment to delivering value to its members. The company's recent initiatives and partnerships reflect its dedication to being a leader in the financial services sector.
For the latest updates and in-depth information about SoFi Technologies, Inc., including performance metrics and recent developments, visit their official website or follow their news releases.
SoFi Technologies, Inc. announced the extension of trading hours on its SoFi Invest platform, now offering 4.5 additional hours from 9 AM ET to 8 PM ET. This change aims to enhance trading accessibility for members, particularly for those affected by traditional 9 to 5 hours. The extended hours allow users to react promptly to major market news and foreign market activities. Currently available on the mobile app, trading during these hours is limited to limit orders, with website availability expected soon. SoFi also continues to offer no-fee stock and crypto trading.
SoFi (NASDAQ: SOFI) announced participation in two investor conferences in June. CEO Anthony Noto will engage in a fireside chat at Morgan Stanley’s Financials, Payments and CRE Conference on June 15, 2022, at 1:00 PM ET. CFO Chris Lapointe will participate in a fireside chat at the Piper Sandler Global Exchange & Brokerage Conference on June 9, 2022, at 1:30 PM ET. Archived webcasts will be available on SoFi’s Investor Relations website.
SoFi Technologies, Inc. (NASDAQ: SOFI) announced its 2022 Annual Meeting of Stockholders, set for July 12, 2022, at 10:00 a.m. PT. The meeting will be held virtually, allowing stockholders to participate by accessing www.virtualshareholdermeeting.com/SOFI2022. A live audio webcast will also be available at www.investors.sofi.com. Stockholders can submit questions before and during the meeting. Additional information is available in the proxy statement filed with the SEC.
Mogo reported a record Q1 2022 revenue of $17.3 million, up 51% year-over-year, and record gross profit of $12.3 million, up 30%. Member growth reached 1.94 million, a 62% increase. Despite strong revenue, adjusted EBITDA loss widened to $5.5 million, and net loss grew to $18.9 million. Mogo updated its 2022 guidance, now anticipating revenue growth of 20% to 25% (down from previous estimates). The company is set to enhance its offerings with MogoTrade, aiming to capture a larger market share.
SoFi Technologies reported a record GAAP net revenue of $330 million, a 69% increase year-over-year, for Q1 2022. Adjusted net revenue reached $322 million, up 49% from the previous year. The company saw a net loss of $110 million, improving from a loss of $178 million a year ago. Adjusted EBITDA was positive at $9 million for the seventh consecutive quarter. Member growth reached 3.9 million, a 70% increase, while product offerings grew to 5.9 million, up 84% year-over-year. Full-year guidance was raised, forecasting $1.505 billion in adjusted net revenue.
SoFi Technologies (NASDAQ: SOFI) has launched new incentives for its Checking & Savings members, including a
SoFi (NASDAQ: SOFI) will host a conference call to discuss its Q1 2022 financial results on May 10, 2022, at 5 p.m. ET. The results will be available on their investor relations website after market close on the same day. For those wishing to participate, SoFi has provided a pre-registration link for the call and a webcast for audio-only access. A replay will be accessible post-call on the company's website. SoFi is dedicated to helping individuals achieve financial independence through a variety of financial services.
SoFi Technologies, Inc. (NASDAQ: SOFI) has revised its full-year 2022 financial guidance, projecting Adjusted Net Revenue of $1.47 billion and Adjusted EBITDA of $100 million, down from previous estimates of $1.57 billion and $180 million. This adjustment is influenced by President Biden's extension of the student loan payment moratorium until at least August 31, 2022. Despite these changes, SoFi expects a 45% year-over-year revenue growth and aims to maintain profitability amidst ongoing challenges in the student loan refinancing market.
SoFi Technologies, Inc. (NASDAQ: SOFI) announced the resignation of three Board members: Clay Wilkes, Michel Combes, and Carlos Medeiros. Wilkes steps down immediately, while Combes and Medeiros will resign at the upcoming 2022 annual shareholders meeting. CEO Anthony Noto expressed gratitude for their contributions during significant milestones, including the acquisition of a national bank license. The Board's reorganization aims to enhance diversity and expertise as SoFi enters its next growth phase.
SoFi Technologies (NASDAQ: SOFI) announced an increase in the annual percentage yield (APY) for its Checking & Savings accounts to 1.25% for members with direct deposit, up from 1.00%. Members without direct deposit will receive 0.70% APY. SoFi is also offering a welcome bonus of up to
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