SoFi Stock Is Down Over 30% and Here Is What Investors Should Consider Now

The SoFi Technologies (NASDAQ: SOFI) stock price has been climbing over the past month, which is welcome news for shareholders. That's because, as of June 24, shares are down more than 30% on the year.

SoFi will likely report its 2026 second-quarter earnings results in late July or early August, which could help decide the next direction for the stock price. In the report, there will be a few updates that investors will want to follow.

Image source: Getty Images.

Will forward guidance be maintained?

In its 2026 first-quarter earnings report, SoFi maintained its adjusted full-year revenue and adjusted full-year net income guidance of $4.6 billion and $825 million, respectively. Even without boosted guidance, that would still be a 30% increase in net revenue and a 72% increase in net income from its 2025 totals. That said, expectations are still high.

If forward guidance is strengthened, it could fuel a stock price rally. If guidance is maintained and the rest of the results underwhelm, the stock price would likely dip lower.

Member growth and cross-selling

For Q1 2026, SoFi added 1.1 million new members, setting a record. That also marked the third straight quarter of 35% growth in its member totals, which reached 14.7 million.

As SoFi adds new members, it's also focusing on cross-selling products. In what SoFi calls its financial services productivity loop, it includes everything from home loans to student loans to an investing platform to credit cards. SoFi is seeing more existing customers signing up for more products in that productivity loop.

That should help it rely less on new members for long-term revenue growth, and it is a sign that the company has an opportunity to generate more revenue from current members. This next earnings report will offer a look into whether that momentum is continuing or has stalled.

Updates on a slumping division

In the first quarter, SoFi reported disappointing results for its Technology Platform, which basically powers the infrastructure for banks and other financial entities to build and run apps. That division's revenue fell 27%, with SoFi mentioning the loss of a major client.

SoFi is rebranding that platform to SoFi Technology Solutions for enterprise clients, offering them products and services across processing, banking, core ledgers and services, payment hubs, and risk and fraud. The second quarter will offer insight into whether that part of SoFi's business is returning to growth or is still experiencing declining revenue.

Investment considerations

After climbing 70% in 2025, SoFi stock has struggled to find its footing in 2026. Its upcoming Q2 2026 earnings report can help establish the direction that shares move next, but long-term investors can view it more as a progress report.

The fintech operator will need to show that the loss of that client, mentioned in Q1 2026, was a one-time issue and that revenue is growing again in its SoFi Technology Solutions division. It will also need to show it's continuing to add new members at a steady pace, and that it's connecting current members with more of its products and is effectively creating cross-selling opportunities.

Jack Delaney has positions in SoFi Technologies. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.