{
  "id": 17831685,
  "title": "This Up-and-Coming Tech Company Just Delivered 44% Revenue Growth, and It Has Nothing to Do With AI.",
  "url": "https://urgent.news/2026/11/02/this-up-and-coming-tech-company-just-delivered-44-revenue-growth-and",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-02T17:27:00.000Z",
  "source": {
    "name": "Motley Fool",
    "slug": "motley-fool",
    "url": "https://www.fool.com/investing/2026/11/02/this-up-and-coming-tech-company-just-delivered-44/?source=iedfolrf0000001"
  },
  "original_language": "en",
  "account": "SoFi Technologies, a technology-driven financial services company, reported a remarkable 44% year-over-year growth in adjusted net revenue during the third quarter of 2026. This record revenue of $1.4 billion is not due to AI, contrary to popular investor focus. Instead, SoFi's growth stems from its comprehensive financial offerings, including banking, lending, investing, and financial technology services.\n\nThe company's strategy revolves around creating a connected financial platform where customers can manage their money, borrow, invest, and access other financial services, all in one place. This strategy is gaining traction, with SoFi's member count increasing by 35% to 17.1 million, and the number of products held by customers growing by 44% to 26.7 million. Notably, over half of the new products opened during the quarter were from existing customers, indicating that SoFi is not only attracting new customers but also encouraging existing ones to utilize more of its services.\n\nSoFi's diversified revenue streams, including lending, deposits, card spending, investing, and referrals, provide multiple avenues for growth and reduce dependency on traditional interest income. Despite its impressive revenue growth, SoFi remains highly profitable, with net profit rising 73% to $241 million in the third quarter of 2026. However, investors must watch whether the company can sustain this rapid growth and profitability trajectory.\n\nInvestors should focus on three key areas: customer acquisition and retention, profitability, and the contribution of new businesses, such as blockchain payments, to financial results. While SoFi's rapid growth and profitability are promising, the company's success will depend on its ability to deepen customer relationships, expand fee-based services, and enter new areas without compromising profitability. In conclusion, SoFi Technologies demonstrates that a technology-driven financial services company can achieve rapid growth without relying on the AI boom, making it an attractive investment opportunity.",
  "summary": "AI is not the only technology-driven growth story worth watching. This fintech is expanding across banking, lending, investing, and digital payments.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Nasdaq Markets",
        "title": "This Up-and-Coming Tech Company Just Delivered 44% Revenue Growth, and It Has Nothing to Do With AI.",
        "url": "https://urgent.news/2026/11/02/this-up-and-coming-tech-company-just-delivered-44-revenue-growth-and-17832985",
        "published": "2026-11-02T17:47:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}