SoFi Just Posted Another Quarter of Fast Growth. What Has to Happen Next for the Stock to Follow?

SOFI posted 40% year-over-year revenue growth and 65% adjusted net income growth in Q2 2026, bringing its customer base to 15.8 million. Despite the strong quarter, the stock has fallen 30% over the past year and trades 45% below its November 2025 peak.

The market's concern centers on credit exposure from accelerating personal loan originations, which hit $10.7 billion in Q2, up 54% year-over-year. Personal loans now account for 72% of total originations, concentrating risk in a single product category. The company's net charge-off rate stands at 3.7%, within normal parameters but under close scrutiny given the pace of loan book expansion.

SOFI needs to sustain both growth and credit quality simultaneously to reverse the sell-off. The widening gap between operating performance and stock price reflects investor skepticism that current loan metrics will hold as the portfolio seasons and economic conditions shift.