Lending Platform SoFi's Revenue Jumps 56% in Q3

The company's Nasdaq-listed shares rose 13% in premarket trading.

By Jamie Crawley

Nov 1, 2022 at 11:56 a.m. UTC

Updated Nov 1, 2022 at 2:47 p.m. UTC

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Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

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Nasdaq-listed SoFi (SOFI), an online lending platform, said Tuesday that its third-quarter revenue rose 56% from the year-earlier quarter to $424 million.

The platform, which has a digital-asset trading subsidiary, also said in a filing with the U.S. Securities and Exchange Commission that its earnings before interest, taxes, depreciation and amortization (Ebitda) surged to $44.3 million in the quarter, more than quadruple the $10.3 million from a year earlier.

Membership rose 1.8 million from a year ago to 4.7 million. That included an increase of 424,000 in the last quarter.

Shares of SoFi rose 13% to $6.17 in premarket trading.

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