That SoFi Technologies Improved So Quickly Is No Surprise

$SoFi Technologies(SOFI.US)$ Most investors and followers of financial media know of SoFi Technologies (SOFI) CEO Anthony Noto. Noto has been around the block a couple of times. Many have followed his career from Goldman Sachs (GS) to the NFL to Twitter and finally to SoFi Technologies.

Many are probably also aware that Noto is a graduate of the United States Military Academy at West Point (Class of 1991), the University of Pennsylvania's Wharton Business School (MBA) and even more impressively (in my world) the US Army Ranger School at Fort Benning, Georgia.

As a long-time season ticket holder, I remember him as a linebacker. One of the best linebackers that the Black Knights of the Hudson have ever produced.

"Noto with the tackle" would rain down from the PA speakers all game long. Over and over. Every game. The man was aggressive. The man was all over the field. He still is.

SoFi Technologies released the firm's fourth quarter financial results on Monday morning. For the three month period ended December 31st, SOFI posted GAAP EPS of a loss of $0.05, which was a beat of four cents per share on revenue of $456.679M. This number not only exceeded Wall Street's expectations, but was good enough for year over year growth of 59.9%.

SOFI reported record fourth quarter adjusted EBITDA of $70M, which was up more than 15 times last year's comparison and up 58% in sequential terms, while decisively topping estimates. The GAAP net loss of $40.006M was good for a narrowing of 64% versus the same period last year.

The firm added 480K new members during the quarter to more than 5.2M total memberships (+51% y/y). The firm also added 695K new products sold to that membership, which was up 53% to almost 7.9M.