SoFi Technologies Inc. (SOFI) shares plummeted 12.85% during intraday trading on Wednesday, despite the company reporting record first-quarter financial results.

The fintech lender posted Q1 2026 net income of $166.7 million, a 134% year-over-year increase, with total net revenue climbing 43% to $1.1 billion. The company achieved record total loan originations of $12.2 billion, driven by strong growth across personal, student, and home loan segments, while member count grew 35% to 14.7 million.

However, investor sentiment turned negative as SoFi maintained its full-year 2026 adjusted net revenue outlook of approximately $4.66 billion, unchanged from previous guidance. Analysts noted the company "uncharacteristically did not flow through first-quarter revenue and EBITDA upside," with some investors expecting a guidance raise following the strong quarterly beat. Additionally, the company's Q2 outlook for approximately 30% adjusted net revenue growth came in slightly below some analyst expectations, further contributing to the sell-off.