+40% Growth is Just a Milestone | SoFi Financial Services Segment via Quarterly Data [2025 Full-Year Earnings Part 6 Supplement]

+40% Growth is Just a Milestone | Verifying the Strength of SoFi's Financial Services Segment [2025 Full-Year Earnings Part 6] This is supplementary material for the above.
*The meaning of the stars is as in the first installment (★★★: Essential, ★★: Supplementary, ★: Reference).

This part visualizes and confirms the "acceleration of growth" and "turning point in the profit structure," which are difficult to see in annual data, by using quarterly trends.
*Main report covers annual trends, while supplementary material covers quarterly trends.

According to company guidance, the Financial Services segment is expected to grow by approximately +40% or more year-over-year in 2026. After scrutinizing various data, it can be determined that the lower bound of +40% growth is a conservative assumption, and there is significant room for upside. Detailed calculations will be released at a later date.

🚨 Key Points of Part 6 "Supplementary Material" 🚨
・The second pillar accounting for 40% of revenue and 41% of profit
・Structure where non-interest income exceeds interest income since Q3 2025
・Expansion of the interest income base with a quarter-over-quarter deposit increase of $4.559 billion
・LPB grew into a major revenue source in just about one year
・Interchange revenue is also steadily expanding

🔔Conclusion: +40% year-over-year is fully achievable

📊 List of Supplementary Material Contents
1. Positioning of the Financial Services segment at SoFi: ★★
2. Revenue, contribution profit, and contribution margin in the Financial Services segment: ★★
3. Trends in interest income and non-interest income in the Financial Services segment: ★★
4. Ratio of interest income to non-interest income in the Financial Services segment: ★
5. Deposits, deposit growth, and deposit growth rate: ★★
6. Trends in the breakdown of non-interest income in the Financial Services segment: ★★
7. Trends in loan originations for LPB: ★★
8. Interchange revenue in the Financial Services segment: ★★

1. Positioning of the Financial Services segment at SoFi (★★)
The Financial Services segment is the second revenue pillar after the Lending segment, accounting for 40% of revenue and 41% of contribution profit. It currently shows the highest growth rate among the three segments and is becoming a core business driving the company's future growth.

Considering the growth rate, there is a possibility that the quarter in which the Financial Services segment's revenue surpasses that of the Lending segment could arrive as early as 2026.