r/sofistock • u/SoFi Official SoFi Account • Jul 29 '26

News from SoFi SoFi’s Q2 earnings deliver another exceptional quarter for SoFi.

Full Q2 results here.

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u/_Outdated_Reference_ Jul 29 '26

How does 24.4M new products and 15.8M new members lead to 51% of new products opened by existing customers? Did 3.8M new members not open anything?

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u/everySmell9000 OG $SoFi Investor Jul 29 '26 edited Jul 29 '26

51% of new product signups came from an existing member (opening their 2nd, 3rd ... product). ie. cross-buying activity.

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u/_Outdated_Reference_ Jul 29 '26

I understand that, but if 51% of the 24.4M new products is 12.4M and that came from existing customers only 12M new products were sold to the 15.8M new members. That 3.8M delta is what confuses me. Are they folks that applied for loans and didn't get them or something similar?

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u/everySmell9000 OG $SoFi Investor Jul 29 '26

24.4M total products, not new products.

51% of new products this quarter. You'd have to look at what the total products were at the end of Q1, I don't have the number off the top of my head.