Anthony, you know the story in the course of Gone. It's kind of the result of the work you've put into so far doing more. Just explain that a little and where you're bearing fruits in sort of diversifying business lines right now. Sure. First to your point about the stock. The stock was up about 40% in the last month. So it came into the quarter after a very big increase in value over the last 30 days. So I think we're seeing some of that being taken off the table. But we had our best quarter as a public company. We had record revenue. The growth rate of the revenue accelerated to 30% year over year. That growth was driven by 64% year over year growth in our financial services and our technology platform. Revenue taken as one that now accounts for 49% of our total revenue. And so we're not just a lender anymore.

is the key message. And this is a historic day for us. Not only is it historic revenue, but we're to that 50-50 split between lending and bond lending that we wanted to drive to really continue to diversify our revenue. We've been able to overcome a really tumultuous environment over the last five years to deliver 17 quarters of consecutive 17 quarters of record revenue growth and improving profitability. And we finally got to the point where the business is 50-50, which is right where we wanted to be. The strength is really driven by the financial services products growing us 37% year over year, and that's driving the revenue growth that I mentioned. Part of this sort of slowdown response in the stock, I think, is some investors looking at your comments about balance sheet growth, longer-term, low single-digit growth. What would you be your response to that, please? We want to grow our revenue 20 to 25%.

compounded annually. So there's a lot of different drivers to get there. We do not necessarily need to grow our balance sheet at that rate. And in fact, we don't plan to grow our balance sheet at that rate. We've made a migration to more fee-based revenue streams that are capital flight in high ROIC. This was our first large quarter of generating loan platform business revenue. It's a business we've been in since 2019, but it was a big contributor to both our growth in revenue as well as profitability. So we don't need to grow the balance sheet faster than it has been growing. In fact, we want to take risk off the table and leverage the other parts of our businesses, other parts of our business that are fee-based. In the quarter, about $175 million of our revenue was from fee-based revenue and growing a meaningful amount year over year. Let's just talk about putting that lever and indeed a 64% jump in the financial services and the tech platform segment.

Where else can you invest there to ensure that that 64% is something you continue? Sure. Within the financial services segment, we have several businesses. We have our Sofi money business, which is benefiting from a high interest rate. We're seeing great growth in deposits, $2.4 billion of member deposit growth, really strong spending, annualized, $10 billion of spending. And so we'll continue to grow that member base at a really high clip. Second is our invest business. It's also growing meaningfully year over year. We also have our credit card business and of course, our business that provides referrals to other financial services product, which we call Lantern. And then as I mentioned, the loan platform business. That business itself grew over 100% year over year, and it's annualized now $2 billion with really strong improvement in profitability. So we'll keep driving product and member growth in that business in the 30 plus

percent range, and that will then follow with revenue growth at or above that level over time. Told us about the macro because you're saying to investors you feel really good about the current environment, the headwinds dissipated. Anything that worries you, I mean, we're all still bracing for an election and that feels like quite a lot of lack of transparency. Yeah, I do think there's still a degree of uncertainty out there, but I think the trends are clear that we're going into a declining rate environment versus an increasing rate environment. And in a declining rate environment, we have several businesses that will benefit meaningfully. Our home loans business will benefit from more refinancing. Our student loan refinancing business will allow people to refinance their student loans at a lower rate in a lower rate environment. And so those businesses will have a tailwind for sure. In addition to that, as rates come down, the rates that other competitive banks are offering their members or their

clients will also come down, and we will be able to maintain a superior rate compared to them because we also own the lending origination platform. So we can use the two of them as a competitive advantage to drive a better API than our competitors, broadly defined. And then lastly, within that business is our credit card business. We just launched two new credit cards that we think uniquely meet the needs of our members that have a lot of growth prospects behind them as well. Anthony, what's your M&A plan from here for things you don't already have? We're heads down, we're not focused on M&A at all. We're not focused on capital raises. We're focused on growing our business organically, 20 to 25% in revenue on a year-over-year basis. Balance sheet growing much slower than that and continue to build unaided brand awareness or unaided brand awareness is a key to become a household name.

It's a key to become a trusted partner in a business where people have to trust you to give you their money. And we've driven that up 40% year over year to 7%. Our goal is to get it into the 30% range. We're well on our way and making great progress. Have you got any worries about the consumer at this point, Anthony, and consumer credit quality? Sure. Our credit is actually continuing to improve. We saw a peak in credit normalization in Q1, and it's gotten better each quarter since then. That said, you know, we're very vigilant in making sure that we think we'll be in a stable economy. Declining rates with the recession would not be great. Declining rates with a stable economy would be great. And that's what our current forecast is for 25. And see, we literally have 30 seconds the election. How are you braced for it?

You know, we can work with whatever administration we have. There are different characteristics of the administration that could be more favorable for our business. I would say generally more favorable capital markets would be welcome. More favorable treatment towards businesses would also be welcomed. There's a lot of opportunity that sometimes gets stifled by different approaches as it relates to capital markets, to M&A from the different agencies. So we're looking for a good balanced approach from whatever administration wins, but we're prepared to work with both ends of the aisle.

SoFi CEO: Don't Need to Grow Balance Sheet Faster

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SoFi CEO: Don't Need to Grow Balance Sheet Faster

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