SOFISoFi Technologies, Inc.
Finance Services
- Revenue
- $619M
- 23% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $21.6B
- Employees
- 6,100
- $102K revenue each
- Net debt / EBITDA
- —
- $174M net debt
- AI in 10-K
- 2.8
- mentions per 10K words
Takeover score 5 of 13
Fixable underperformance 4 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRYes$28M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashYes-778% of net incomeCash flow under 80% of net income
- Dilutive SBCYes42% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo2% of assetsOver 40% of assets
- Shareholder dissentNo82% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeYes$102K · 18th pctBottom quartile of its SIC industry
- Quiet on AINo2.8 per 10K words · 67th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$21.6B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$9M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $248M | $377M | $421M | $503M | $619M | 23% |
| Net income | −$484M | −$320M | −$301M | $499M | $481M | 3.5% |
| Operating cash flow | −$1.4B | −$7.3B | −$7.2B | −$1.1B | −$3.7B | 234% |
| Capex | $52M | $93M | $111M | $154M | $242M | 57% |
| Stock-based comp | $239M | $306M | $271M | $246M | $262M | 6.5% |
| Buybacks | $526K | $0 | $0 | — | — |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Aug 17, 2022 | SOFTBANK GROUP CORP | SC 13D/A | 4.9% | Passive |
| Aug 11, 2022 | SOFTBANK GROUP CORP | SC 13D/A | 6.9% | Passive |
| Aug 8, 2022 | SOFTBANK GROUP CORP | SC 13D/A | 9.0% | Passive |
| Apr 6, 2022 | SOFTBANK GROUP CORP | SC 13D/A | 10.5% | Passive |
| Nov 24, 2021 | Red Crow Capital, LLC | SC 13D/A | 5.3% | Passive |
| Nov 22, 2021 | SOFTBANK GROUP CORP | SC 13D/A | 11.8% | Passive |
| Jul 23, 2021 | SOFTBANK GROUP CORP | SC 13D/A | 14.8% | Passive |
| Jul 15, 2021 | Red Crow Capital, LLC | SC 13D/A | 5.8% | Passive |
| Jun 8, 2021 | SOFTBANK GROUP CORP | SC 13D | 8.1% | Passive |
| Jun 8, 2021 | Red Crow Capital, LLC | SC 13D | 6.1% | Passive |
Insider trading
- Open-market buys, 12 mo
- $2M · 7
- Open-market sells, 12 mo
- $12M · 19
- Net
- −$9M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $30M | $149M | 116 | 175 |
| FY2024 | $28M | $65M | 68 | 145 |
| FY2023 | $18M | $71M | 44 | 112 |
| FY2022 | $13M | −$121M | 20 | 77 |
| FY2021 | $103M | $119M | 70 | 114 |