SoFi shares jumped about 3% after CEO Anthony Noto discussed growth initiatives on the Basis Points podcast.
Despite a 40% YTD stock decline, Q1 adjusted net revenue rose 41% and member base grew 35%, highlighting strong fundamentals.
CEO noted market now expects zero rate cuts, pushing SoFi’s valuation to 2x tangible book value, down from 5x previously.
New initiatives include SoFi Plus (100k new paying members, 160k total), upcoming USD stablecoin, business banking launch July 1, and crypto lending.