(SoFi) Shares of SoFi Technologies rose more than 18% on Wednesday after reporting an adjusted record net revenue of $279.88 million in Q4 2021, up 54% from the previous year.
For FY21, SoFi posted an adjusted total net revenue of $1.01 billion, up 63% from the previous year.
The company reported a net loss of $111 million in the fourth quarter, widening from a loss of $82.62 million in the prior year. FY21 net loss was $483.94 million, greater than a loss of $224.05 million in the previous year.
The adjusted EBITDA in the fourth quarter was $4.59 million, a 61% decline from the previous year. EBITDA was $30.22 million in FY21, an increase from a loss of $44.58 million in the prior year.
SoFi said that it had a record 523,000 new member additions in the fourth quarter, up 39% sequentially. Quarterly net product additions also hit a record 906,000, up 51% sequentially.
SOFI: NASDAQ is up +18.21% on premarket.
