SOFI - SoFi: Market Remains Too Negative

2024-01-30 20:00:45 ET

Summary

• SoFi Technologies, Inc. reported strong Q4 2023 financial results, with revenue of $594.3 million, up 34% from the previous year.
• The company's adjusted EBITDA nearly doubled sequentially from Q3 to $181 million, indicating strong bottom-line growth.
• SoFi provided guidance for 2024, including a target of nearly $600 million in adjusted EBITDA and 50% or more growth in its tech platform and financial services.
• The stock only trades at 12x 2025 adjusted EBITDA targets, half the targeted growth rates that could be conservative.

The market was so focused on whether SoFi Technologies, Inc. ( SOFI ) was GAAP profitable in the December quarter, most people missed that the fintech was already a money machine. The company guided to massive tangible book value growth in 2024 with adjusted profits set to soar. My investment thesis remains ultra Bullish on the stock, still struggling to breakout above the original SPAC price of $10 announced all the way back in 2020....

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