Similar companies
Income Statement (USD)
Q1 '24 | QoQ | |
---|---|---|
Revenue | 908M | 4.3% |
Gross Profit | 808M | 5.4% |
Cost of Revenue | 100M | 3.7% |
Operating expense | 446M | 20.7% |
Net Income | 88M | 83.8% |
EBITDA | 150M | 235.7% |
Balance Sheet (USD)
Q1 '24 | QoQ | |
---|---|---|
Total Assets | 31.3B | 4.1% |
Total Liabilities | 25.2B | 2.6% |
Total Equity | 5.83B | 11.3% |
Shares Outstanding | 1.06B | 8.3% |
Cash Flow (USD)
Q1 '24 | QoQ | |
---|---|---|
Cash from operations | 738M | 397.8% |
Cash from investing | -1.26B | 10.8% |
Cash from financing | 1.06B | 46.7% |
EPS
Financial Highlights for SoFi in Q1 '24
SoFi reported a revenue of 908M, which is a 4.3% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 808M, marking a 5.4% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 100M, a -3.7% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 446M, showing a -20.7% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 88M, showing a 83.8% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 150M, showing a 235.7% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for SoFi with growth in revenue, gross profit, and net income.