SoFi Technologies (NASDAQ: SOFI) shares have been on a disappointing trend. As of Aug. 12, they have fallen 32% in 2026. And they trade 45% below their peak from last November.
That performance takes away from the underlying company's solid financial results. Lending activity has been exceptional, as SoFi's loan originations totaled $14.8 billion in the second quarter (ended June 30), up 69% year over year. This Rare Signal Is Flashing Again.
In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » Personal loans continue to be the focal point, with record originations of $10.7 billion in Q2.
But investors should understand where this fintech stock's credit risk actually sits. SoFi's headline numbers were terrific. Last quarter, it reported year-over-year revenue growth of 43%.
Net income soared 61% compared to Q2 2025. The digital bank also added 1.1 million net new customers, and now commands a user base of 15.8 million members. It's hard to find any faults with SoFi's impressive trajectory.
As with any lender, however, there is credit risk. And because this company leans heavily on personal loans, an unsecured product with shorter terms and higher monthly payments, it's worth taking the time to look under the hood. Of the $10.7 billion in personal loans originated in the second quarter, "$7.6 billion was originated for our balance sheet," said chief financial officer Chris Lapointe on the Q2 2026 earnings call.
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