SoFi’s Q1 Was Almost Perfect – Upbeat Revenue, Record New Member Additions: Why Is Stock On Track For Its Biggest Single-Day Decline In 2026?

• SoFi posted earnings of $0.12 per share in the first quarter, which were in line with consensus estimates.
• Its technology platform revenue fell 27% to $75.1 million in the first quarter.
• SoFi reiterated its FY 2026 guidance, expecting about $4.65 billion in adjusted revenue and adjusted earnings of about $0.6 per share.

Shares of SoFi Technologies (SOFI) slid more than 8% in pre-market trading on Wednesday as its full-year 2026 guidance failed to meet high investor expectations, overshadowing what was otherwise a record-breaking topline.

SOFI shares are on track to record their sharpest single-day decline in 2026.

The financial services firm reported a first-quarter (Q1) revenue of $1.1 billion, up 43% over last year and above Wall Street’s estimates of $1.05 billion, according to Fiscal.ai data. SoFi posted earnings of $0.12 per share, which were in line with consensus estimates. The company’s topline was boosted by the addition of a record 1.1 million new members, bringing the total to 14.7 million, up 35% from a year ago.

However, its technology platform revenue fell 27% to $75.1 million, mainly due to a major client leaving the platform before the end of 2025.

In the second quarter (Q2) of 2026, SoFi expects to deliver adjusted net revenue growth of roughly 30%, an adjusted EBITDA margin of about 30%, and an adjusted net income margin of around 12% to 13%.

Retail Traders Debate Guidance, Tech Platform Weakness

SoFi reiterated its FY 2026 guidance, expecting about $4.65 billion in adjusted revenue, $1.6 billion in earnings before interest, taxes, depreciation, and amortization (EBITDA), roughly $825 million in net income, and adjusted earnings of about $0.60 per share. 

Despite the pre-market sell-off, retail sentiment on Stocktwits turned ‘extremely bullish’ from ‘bearish’ a day earlier, amid ‘high’ message volumes.

One user noted that EPS guidance above $0.6 per share would have turned the stock green.

In a post on X, Shay Boloor, chief market strategist at Futrum Equities, said the “market wanted a guidance raise that didn’t come.”

Another user said the tech platform revenue decline was the “smoking gun for the selloff.”

The stock has been under some selling pressure this year, declining nearly 32%.

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