SoFi Technologies Expects FY23 Adj Net Revenue of $2.045B-$2.065B (Prior $1.974B-$2.034B) Vs. $2.02B Est
Portfolio Pulse from Benzinga Newsdesk
SoFi Technologies has raised its FY23 adjusted net revenue guidance to $2.045-$2.065 billion, up from the previous $1.974-$2.034 billion. The company also expects full-year adjusted EBITDA of $386-$396 million, a significant increase from the prior guidance of $333-$343 million. This represents a 48% incremental adjusted EBITDA margin and a range of 18.9% to 19.2% adjusted EBITDA margin. The company anticipates an increase in depreciation, amortization, and share-based compensation expenses in Q4 as it moves towards GAAP net income profitability.
October 30, 2023 | 11:05 am
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SoFi Technologies has increased its FY23 revenue and EBITDA guidance, indicating strong financial performance. This could potentially boost investor confidence and positively impact the company's stock price in the short term.
Companies often see their stock prices increase when they raise their financial guidance, as this is usually a sign of strong performance and future growth. In this case, SoFi's raised guidance for both revenue and EBITDA could signal to investors that the company is performing well and is expected to continue doing so, potentially leading to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100