Investor Presentaiton
I
Non-GAAP Reconciliations
SoFi
Non-GAAP Reconciliations ($ in 000's)
Net Revenue (GAAP)
Servicing rights changes in FMV (7)
Residual interests classified as debt - changes in FMV (a)
Gain on Extinguishment of Corporate Debt (19)
Adjusted Net Revenue (Non-GAAP) (4)
Net Income/(Loss) - (GAAP)
FY 2021
FY 2022
FY 2023
Q1'21
Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
2021
Full Year
2022
2023
$195,984
12,109
$231,274
7,951
224
5,717
$272,006
(409)
5,593
$285,608
(9,273)
3,541
$330,344
(11,580)
$362,527 $423,985
0
0
0
0
2,963
0
(9,098)
2,662
(6,182)
0
1,453.
0
$456,679
(12,791)
(470)
$472,158
(12,084)
89
0
$498,018
(8,601)
(602)
0
$537,209
(7,420)
928
0
$615,404
(6,595)
10
$216,044
$237,215
$277,190
$279,876
$321,727
$356,091
$419,256
$443,418
$460,163
$488,815
$530,717
(14,574)
$594,245
$984,872
2,651
22,802
0
$1,573,535
(39,651)
6,608
0
$2,122,789
(34,700)
$1,010,325
$1,540,492
425
(14,574)
$2,073,940
($177,564)
($165,314)
($30,047)
($111,012)
($110,357)
($95,835)
($74,209)
($40,006)
($34,422)
($47,549)
($266,684)
$47,913
($483,937)
($320,407)
($300,742)
Non-GAAP Adjustments
Interest expense - corporate borrowings (9)
Income tax expense (benefit)
$5.008
1,099
Depreciation & amortization
25,977
$1,378
(78)
24,989
1,366
181
24,075
2,593
1,558
2,649
752
3,450
5,270
7,069
8,000
26,527
30,698
119
38,056
(242)
1,057
(1,637)
9,167
(1,780)
9,784
9.882
(244)
3,245.
10,345
2,760
18,438
1,686
36,833
(416)
40,253
42,353
45,321
50,130
52,516
53,449
101,568
151,360
201,416
Share-based expense
Impairment expense (11)
37,454
0
52,154
72,681
77,082
77,021
80,142
77,855
70,976
64,226
75,878
62,005
69,107
239,371
305,994
271,216
0
0
0
0
0
Transaction-related expense (13)
2,178
21,181
1,221
2,753
16,538
808
100
1000
0
1,243
0
247,174
0
0
0
248,417
1,872
0
176
(34)
0
27,333
19,318
142
Restructuring charges (12)
0
0
0
0
0
0
0
0
4,953
0
0
7,796
0
0
12,749
Fair value changes in warrant liabilities (14)
89,920
70,989
(64,405)
10,824
0
0
0
0
0
0
0
0
Servicing rights - changes in FMV (7)
12,109
224
(409)
(9,273)
(11,580)
(9,098)
(6,182)
(12,791)
(12,084)
(8,601)
(7,420)
(6,595)
Residual interests classified as debt - changes in FMV (a)
7,951
5,717
5,593
3,541
2,963
2,662
1,453
(6)
Gain on Extinguishment of Corporate Debt (19)
Foreign Currency Impact of Highly Inflationary Countries (20)
Adjusted EBITDA
0
0
0
0
0
0
(470)
0
89
(602)
928
0
0
0
10
(14,574)
107,328
2,651
22,802
0
0
(39,651)
(34,700)
6,608
425
0
0
(14,574)
0
0
0
$4,132
$11,240
$10,256
0
$4,593
0
$8,684
0
0
0
0
0
10,971
0
0
10,971
$20,304
$44,298
$70,060
$75,689
$76,819
$98,025
$181,204
$30,221
$143,346
$431,737
Note: See "Footnotes" section for detailed explanations and definitions. The sum of individual metrics may not always equal total amounts indicated due to rounding.
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