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SoFi Technologies (NASDAQ: SOFI), a San Francisco-based online bank, has seen its share price more than double over the past year. The company reported a 34% increase in members, reaching nearly 11 million, and a 33% rise in adjusted sales to $770 million for the first quarter. Adjusted earnings per share soared 200% to $0.06, prompting management to raise its 2025 revenue guidance to between $3.2 billion and $3.3 billion.
However, consumer spending is reportedly declining amid economic uncertainties, which could impact SoFi’s growth outlook. Despite a relatively low unemployment rate of 4.2%, concerns exist regarding potential effects from tariff policies and inflation on consumer behavior.
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