Welcome to our dedicated page for Sofi Technologies news (Ticker: SOFI), a resource for investors and traders seeking the latest updates and insights on Sofi Technologies stock.
SoFi Technologies, Inc. (NASDAQ: SOFI) is frequently in the news as a digital financial services company that describes itself as a one-stop shop for borrowing, saving, spending, investing, and protecting money in a single app. News about SoFi often highlights its product launches, technology initiatives, capital markets activity, and partnerships that expand access to financial services.
On this page, readers can follow coverage of SoFi’s announcements across consumer banking, lending, investing, and crypto. Recent press releases have described the launch of SoFi Crypto, which allows members to buy, sell, and hold cryptocurrencies through SoFi Bank, N.A., and the introduction of SoFiUSD, a fully reserved U.S. dollar stablecoin issued by SoFi Bank, N.A. News has also covered the SoFi Smart Card, an all-in-one account that combines elements of checking, savings, debit, and credit products, as well as new employee benefits that support early investing for employees’ children.
Investors can also track SoFi’s capital markets updates, including underwritten public offerings of common stock and related use-of-proceeds disclosures, along with Form 8-K items that report quarterly financial results. Other news items highlight SoFi’s role in alternative investments through partnerships such as the Cashmere Fund and its collaboration with Templum to provide access to private company investment opportunities.
By reviewing the news feed for SOFI, users can see how SoFi communicates about its mission to help people achieve financial independence, its expansion into crypto and stablecoin infrastructure, and the evolution of its technology platform Galileo. Bookmark this page to monitor ongoing developments, product announcements, and regulatory and capital markets disclosures that the company releases through official channels.
Galileo Financial Technologies, owned by SoFi (NASDAQ: SOFI), released its 2021 State of Consumer Banking and Money survey, revealing a shift towards digital banking. Despite 77% of U.S. adults using traditional banks, only 57% of their funds are there, with 43% kept in non-traditional accounts. Satisfaction rates for digital-only banks are significantly higher (79%) compared to traditional banks (66%). Additionally, 61% of consumers express a willingness to switch to a digital-only provider, indicating a growing trend towards digital financial services.
SoFi (NASDAQ: SOFI) is set to hold a conference call on November 10, 2021, at 5 p.m. Eastern Time, to discuss its third quarter 2021 financial results. The results will be released after market close on the same day and available on their investor relations website. To join the call, interested parties can pre-register using the provided link. A replay of the conference call will also be accessible afterward on their website.
SoFi Technologies, Inc. (NASDAQ: SOFI) has announced the pricing of its private offering of 0.00% convertible senior notes due in 2026, increasing the total amount to
SoFi Technologies, Inc. (NASDAQ: SOFI) announced plans to offer $750 million in convertible senior notes due 2026, targeting qualified institutional buyers. The offering includes a potential additional $112.5 million in notes. The unsecured notes will accrue semi-annual interest and are convertible under specific conditions. Proceeds will fund capped call transactions and cover offering-related expenses. The company aims to mitigate dilution from conversions through these transactions. The notes and shares from conversions will not be registered under the Securities Act, implying transfer restrictions.
SoFi has launched its new brand campaign titled ‘Move Your Money’, aimed at encouraging financial engagement among consumers. The campaign is set to air during major sports events and utilizes digital and influencer marketing. With a low approval rating of 33% for financial institutions, SoFi seeks to disrupt the industry by offering an all-in-one financial app that combines borrowing, saving, and investing. The initiative includes a sweepstakes where participants can share their financial stories for a chance to win prizes, highlighting SoFi’s commitment to fostering financial independence.
SoFi (NASDAQ: SOFI), a leading financial services platform, will participate in the 11th Annual Financial Technology Conference hosted by Goldman Sachs. CEO Anthony Noto will engage in a moderated fireside chat on September 9, 2021, from 12:30 PM to 1:10 PM ET. An archived webcast of the session will be available for viewing on SoFi's Investor Relations website afterward. SoFi aims to empower over two million members through products that enhance financial independence.
SoFi Technologies reported strong Q2 2021 results, with total net revenue of $231.3 million, up 101% year-over-year. The company achieved adjusted net revenue of $237.2 million, marking a 74% increase. Despite a net loss of $165.3 million, SoFi recorded its fourth consecutive quarter of positive adjusted EBITDA at $11.2 million. Member growth accelerated by 113% to 2.6 million, and product offerings surged to 3.7 million. The technology platform segment saw a 138% revenue increase, driven by the growth of Galileo accounts, now at nearly 79 million. The guidance for Q3 2021 suggests continued growth.
SoFi (NASDAQ: SOFI) plans to host a conference call on August 12, 2021, at 5 p.m. Eastern Time, to discuss its financial and operating results for Q2 2021. The results will be released after market close on the same day. Investors can access the call by pre-registering via a provided link. Additionally, an audio-only webcast will be available. A replay of the call will be available on SoFi's Investor Relations page. SoFi aims to assist individuals in achieving financial independence through various services, boasting over 2 million members.
SoFi has appointed Ruzwana Bashir to its Board of Directors, bringing in a seasoned entrepreneur and CEO of Peek.com. Bashir's experience in tech and enterprise services is expected to bolster SoFi's strategy in aiding members toward financial independence. CEO Anthony Noto highlighted the company's recent milestones, including surpassing two million members and achieving positive adjusted EBITDA. Alongside Bashir, the board gains insights from notable figures like Harvey Schwartz and Dick Costolo, enhancing its leadership strength.
SoFi (NASDAQ: SOFI), a premier financial services platform, will engage with institutional investors at the Piper Sandler Global Exchanges & FinTech Conference on June 10, 2021. CEO Anthony Noto will participate in a fireside chat from 2:00 to 2:45 PM ET. Interested parties can access the live webcast via this link or visit SoFi's Investor Relations website. An archived version will be available post-event.
With over 2 million members, SoFi aims to provide financial independence through a variety of tools for borrowing, saving, and investing.
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