Why Is Sofi Not Profitable SoFi is constantly dumped on for not being profitable yet the company is very profitable when excluding non cash charges See why SOFI stock is a Strong Buy
Historically SoFi has not been a profitable business Using aggressive marketing campaigns and ultra high interest rates to attract new customers it burned a lot of cash in order to get the 8 SoFi s NASDAQ SOFI fourth quarter results were actually not much different from its Q3 results Once again last quarter SOFI stock saw strong growth but its profitability metrics were dismal
Why Is Sofi Not Profitable
Why Is Sofi Not Profitable
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As of Dec 31 SoFi boasted 7 5 million members on its platform up 44 year over year and those people are signed up for a total of 11 1 million products SoFi has a slick app and offers new features that it markets to a younger audience with a novel marketing approach but there s a limit to how much you can legally innovate in banking Again there s nothing wrong with this But that doesn t make SoFi a disruptor and it s not like Amazon or Uber where it s just going to suddenly crush everybody
The perma optimists can tout SoFi Technologies NASDAQ SOFI all day and all night as the future of fintech SoFi Technologies remains a lender despite the company s efforts to convince otherwise This is a group of investors who are LONG SoFi We are NOT in this for the short term gains or losses If you are a SOFI investor before the SPAC merger with IPOE and want an OG SOFI Investor flair please message the Mods with proof of your holdings Nothing said here is financial advice SOFI is still a high risk growth stock
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SoFi s credit quality is another thing to keep an eye on In the first quarter its net charge off NCO ratio was 3 45 on its 15 billion personal loan portfolio an increase from 2 97 in the SoFi Technologies expects to reach profitability by the end of 2023 The lender has evolved into a diversified fintech conglomerate reducing its reliance on a single income stream Shares
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