SoFi Technologies reported 41% adjusted net revenue growth and a record 1.1 million new members in Q1 2026, boosting investor confidence.
SoFi Technologies (NASDAQ: SOFI) stock climbed 13% in May after announcing the launch of SoFiUSD, a U.S. dollar stablecoin, alongside robust first-quarter results. Adjusted net revenue surged 41% year over year, while earnings per share rose from $0.06 to $0.12.
The company added 1.1 million new members, reaching a total of 14.7 million, with lending revenue up 55% and home loans jumping 137%. Financial services revenue grew 41%, though the tech platform segment declined 27% due to a lost client.
Investors responded positively to the stablecoin rollout and strong growth across core segments, despite high interest rates and mixed performance in non-core areas.