SoFi reported 388,336 crypto products, but Q2 net transaction revenue only reached $1.2 million

SoFi reported $1.183 million in Q2 net crypto transaction revenue from $134.267 million gross, but no standalone profit figure.

• SoFi reported $1.183 million in Q2 net crypto transaction revenue, a small fraction of its $134.267 million gross revenue, after accounting for $133.084 million in transaction costs.
• The company has 388,336 cumulative crypto accounts, but does not disclose standalone crypto profit or active user metrics, making per-user economics difficult to calculate.
• While net revenue saw a sequential increase from Q1, the filing indicates that SoFi acts as a principal in crypto transactions, with most revenue flowing back to cover asset purchases and sales.

Topics: Asset types, Scalability, Stablecoins digital cash, Growth metrics

Tags: #sofi #cryptorevenue #transactioncosts #netrevenue #cumulativeaccounts #profitability #grossbasis #fees #q2filing #digitalfinancialservices

Read more