SoFi Posts Strong Q4 Growth and 2024 Guidance Despite Lingering Stock Price Woes
-
SoFi reported strong Q4 revenue growth of 34% and nearly doubled adjusted EBITDA profits sequentially.
-
Guidance calls for over 50% growth in Financial Services and Tech Platform revenues in 2024 with adjusted EBITDA reaching nearly $600 million.
-
Tangible book value expected to grow by $300-500 million in 2024 as SoFi transitions to a profit machine.
-
Despite beating estimates, stock remains stuck below $10 SPAC price from 2020 due to overly negative market sentiment.
-
Trades at only 12x 2025 adjusted EBITDA despite 20-25% annualized growth guidance showing upside potential.