SoFi Technologies (SOFI) Revenue — Quarter Ended Mar 31, 2023
Revenue declined from the prior quarter but remained higher than the same quarter last year. The sequential decrease followed a period of growth in earlier quarters.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue declined from the prior quarter but remained higher than the same quarter last year. The sequential decrease followed a period of growth in earlier quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$95.5M
Revenue reported for this quarter.
Quarter-over-quarter
-4.2%
Change from the immediately preceding quarter.
Year-over-year
+24.0%
Change from the comparable year-ago quarter.
Trailing four quarters
$395.6M
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $98.4M | +60.2% |
| Sep 30, 2022 | $102M | +66.7% |
| Dec 31, 2022 | $99.6M | +40.6% |
| Mar 31, 2023 | $95.5M | +24.0% |
Revenue performance
Reported revenue moved lower compared with the immediately preceding quarter. The year-over-year comparison showed an increase from the same quarter one year earlier.
Quarterly comparison
The sequential decline reversed the upward trend seen in the prior two quarters. On an annual basis, revenue continued to grow, though at a slower pace than in recent quarters.
What to watch
Monitor whether the sequential revenue decline persists or stabilizes in the coming quarter.