Shares of SoFi (NASDAQ:SOFI) are surging higher after the personal finance company reported its fourth-quarter earnings, revealing its first-ever positive quarterly GAAP earnings per share (EPS) of 2 cents compared to the analyst estimate for 0 cents. GAAP net income tallied in at $47.91 million, up from a loss of $40 million a year ago. On top of that, adjusted EBITDA was a record high $181 million, signaling year-over-year (YOY) growth of 159%, while adjusted EBITDA margin was 30%.

“We saw new member adds of nearly 585,000 and growth of 44% for total period end members of over 7.5 million, with new product adds of nearly 695,000 and growth of 41% to over 11 million total products at period end,” said CEO Anthony Noto.

SoFi Stock Surges on First Quarterly Profit

Furthermore, SoFi’s GAAP net revenue increased by 35% to $615 million while adjusted net revenue was up by 34% to $594 million. Analysts had forecasted adjusted net revenue of $572 million, meaning that SoFi beat the estimate by 3.8%.

SoFi’s revenue consists of three segments: lending, financial services and its technology platform. Lending adjusted net revenue was $346.5 million, up by 10% YOY. Within lending, personal loans contributed $3.22 billion in origination volume, up from $2.46 million a year ago. Student loans added $789.97 million in volume, while home loans added $308.88 million. SoFi’s combined lending products grew by 24%.

Moving on, SoFi’s technology platform grew by 13% to $96 million. The company added that it was in discussions with potential partners in the U.S. and Latin America for use of its platform.

Financial services net revenue grew by 115% to $139.1 million. Net interest income accounted for $109.72 million of the revenue, while non-interest income brought in $30.04 million. Total financial services products increased by over 2.9 million, marking a 45% improvement.

Last, but not least, is guidance. For Q1, SoFi forecasts adjusted net revenue between $550 and $560 million and GAAP net income between $10 and $20 million. The company has also provided guidance for 20% to 25% compound revenue growth until 2026 “assuming no meaningful changes in the macroeconomic environment and no significant new business launches or acquisitions.”

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.