Shares of SoFi Technologies Inc. (SOFI) are soaring 5.04% in Monday's trading session, as investors react positively to recent reports highlighting the company's robust growth and expanding market presence.

SoFi, a fintech company offering a wide range of financial services, has been attracting attention due to its impressive performance metrics. The company has more than tripled its member base since the end of 2021, demonstrating strong customer acquisition. In the latest quarter, SoFi added a record-breaking 846,000 new members, bringing its total membership to 11.7 million, a 34% year-over-year increase.

Investors are particularly encouraged by SoFi's revenue growth, which came in at 44% year-over-year in the most recent quarter, marking its highest growth rate since 2022. The company's adjusted EBITDA margin has also shown steady improvement, growing from 9% three years ago to 29% today. Additionally, SoFi has been consistently profitable on a net income basis since late 2023, further boosting investor confidence.

The market's optimism is also fueled by SoFi's potential for future growth. With less than 10% of Americans familiar with SoFi's brand, there is significant room for expansion. The company's strategy of becoming a one-stop financial shop, offering services ranging from banking and lending to investments and financial planning, positions it well for continued growth in the competitive fintech landscape.