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Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 697M | 16.5% |
| Gross Profit | 573M | 17.3% |
| Cost of Revenue | 124M | 12.8% |
| Operating expense | 505M | 9.1% |
| Net Income | 61M | 249% |
| EBITDA | 256M | 169% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 34.4B | 5.3% |
| Total Liabilities | 28.3B | 5.7% |
| Total Equity | 6.12B | 3.7% |
| Shares Outstanding | 1.08B | 1.8% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | -1.17B | 142.3% |
| Cash from investing | -84M | 96.2% |
| Cash from financing | 1.5B | 18.4% |
EPS
Financial Highlights for SoFi in Q3 '24
SoFi reported a revenue of 697M, which is a 16.5% 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 573M, marking a 17.3% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 124M, a 12.8% 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 505M, showing a 9.1% 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 61M, showing a 249% 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 256M, showing a 169% 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. Higher operating expenses might indicate increased investments or potential inefficiencies.
