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SoFi Technologies (SOFI) has lost 28% of its value year-to-date in 2026 and sits 43% below its 52-week high, as investors pulled back on the company's shifting revenue composition even as it posted record adjusted net revenue of $1.2 billion, up 40% year over year.
Revenue mix shift draws investor concern The lending segment generated $712 million in adjusted net revenue during the most recent quarter.
The Financial Services and Technology Platform businesses combined for $551 million, or 46% of total adjusted net revenue, below the prior quarter's level, when non-lending operations accounted for just under half of total revenue, the company disclosed.
The shift reflects a decision to retain a larger portion of originated loans on SoFi's balance sheet rather than sell them through its platform. That strategy boosts interest income near term.
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