Navi Technologies vs SoFi: Revenue, Profit and Business Model
Navi Technologies reported ~$345.9M of revenue in FY2026 and a net loss of ~$54.1M. SoFi reported $3.6B of revenue in FY2025 and $481.3M of net income.
Latest financial snapshot
Navi Technologies
- Latest revenue
- ~$345.9M (FY2026)
- Net income
- ~-$54.1M
- Net margin
- -15.6%
- Revenue growth
- +1339.3% a year, FY2023–FY2026
SoFi
- Latest revenue
- $3.6B (FY2025)
- Net income
- $481.3M
- Net margin
- 13.3%
- Revenue growth
- +41.9% a year, FY2019–FY2025
Financial summary
Navi Technologies
Navi Limited's consolidated revenue from operations rose from ~$253 million (₹2,180 crore) in FY2024 to ~$298 million (₹2,565 crore) in FY2025 and ~$346 million (₹2,982 crore) in FY2026. The group swung from a ~$41.5 million (₹358 crore) profit in FY2024 (helped by a one-time gain on the Chaitanya sale) to losses of ~$14.6 million (₹126 crore) in FY2025 and ~$54.1 million (₹466 crore) in FY2026, mainly from UPI investment. It reached PBT break-even in Q4 FY26 and reported ~$12.1 million (₹104 crore) PBT in Q1 FY27; management expects a full-year profit in FY2027.
SoFi
Revenue net of interest expense grew from $443M in 2019 to $3.61B in 2025. SoFi posted its first GAAP-profitable quarter in Q4 2023, earned $499M in FY2024 (helped by a tax benefit) and $481M in FY2025. Growth continued in 2026: Q1 revenue was about $1.1B with $167M net income, and Q2 adjusted net revenue was $1.2B with $157M net income and $358M adjusted EBITDA. Lending drove the gains, with record Q2 originations of $14.8B, while Technology Platform revenue fell year over year.
Revenue and profit by year
Navi Technologies
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$345.9M | ~-$54.1M | -15.6% | +16.2% | Source |
| FY2025 | ~$297.5M | ~-$14.6M | -4.9% | +17.7% | Source |
| FY2024 | ~$252.9M | ~$41.6M | 16.4% | +217900.0% | Source |
| FY2023 | ~$116,000 | — | 0.0% | — | Source |
SoFi
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $3.6B | $481.3M | 13.3% | +35.1% | Source |
| FY2024 | $2.7B | $498.7M | 18.6% | +26.0% | Source |
| FY2023 | $2.1B | -$300.7M | -14.2% | +34.9% | Source |
| FY2022 | $1.6B | -$320.4M | -20.4% | +59.8% | Source |
| FY2021 | $984.9M | -$483.9M | -49.1% | +74.1% | Source |
| FY2020 | $565.5M | -$224.1M | -39.6% | +27.8% | Source |
| FY2019 | $442.7M | -$239.7M | -54.1% | — | Source |
Where the revenue comes from
Navi Technologies
No segment breakdown is published.
SoFi
- Lending
~56% of Q2 2026 segment revenue
Net interest income and gains on sale from personal, student and home loans, plus Loan Platform Business fees. Adjusted net revenue of $711.7M in Q2 2026, up 59%.
- Financial Services
~37% of Q2 2026 segment revenue
Deposits, cards, investing and related fees. Net revenue of $466.3M in Q2 2026, up 29%.
- Technology Platform
~7% of Q2 2026 segment revenue
Galileo and Technisys B2B software and processing fees, about $85M in Q2 2026.
Business model and strategy
Navi Technologies
How it makes money
Navi earns most of its income from lending. Navi Finserv, its RBI-registered NBFC, originates app-based personal loans and home loans and earns interest and fees on a loan book that crossed ~$1.51 billion (₹13,000 crore) in FY2026. Smaller revenue lines come from health and motor insurance premiums (Navi General Insurance), management fees on low-cost index funds (Navi AMC) and the Navi UPI payments app.
Growth strategy
Navi's current strategy is to use Navi UPI as a mass-market acquisition channel and convert those users into borrowers, policyholders and investors. It added motor insurance in March 2026, continues to grow Navi Finserv's loan book past ~$1.51 billion (₹13,000 crore), and is shifting from founder funding to institutional capital through the Prosus round and a planned IPO.
Competitive advantage
Navi holds its own lending, insurance and mutual fund licences, so it keeps the full economics of the products it sells instead of earning referral fees. Its UPI app, ranked fourth in India through FY2026, gives it a large daily-use audience for cross-selling.
SoFi
How it makes money
SoFi reports three segments. Lending earns net interest income and gains on loan sales from personal loans, student loan refinancing and home loans, plus fees from its Loan Platform Business, which originates loans for third-party buyers; it produced $711.7M of adjusted net revenue in Q2 2026.
Growth strategy
SoFi's strategy centers on its Financial Services Productivity Loop: acquire members with low-cost products like high-yield savings, then cross-sell loans, cards and investing.
Competitive advantage
SoFi's main structural edge is its national bank charter. Unlike fintechs that rent a sponsor bank, SoFi Bank, N.A. holds insured deposits ($45.5B at mid-2026) and uses them to fund loans, lowering funding costs. It also owns its processing and core banking stack through Galileo and Technisys, and cross-sells inside one app: 51% of new products in Q2 2026 were opened by existing members.
Questions about Navi Technologies vs SoFi
Which company has higher revenue — Navi Technologies or SoFi Technologies, Inc.?
Navi Technologies reported ~$345.9M (FY2026), while SoFi Technologies, Inc. reported $3.6B (FY2025). By last reported revenue, SoFi Technologies, Inc. is the larger business, with Navi Technologies reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of Navi Technologies vs SoFi Technologies, Inc.?
SoFi Technologies, Inc. has a market capitalisation of $21.9B. A public market cap figure for Navi Technologies was not available (it may be privately held).
Which is more financially efficient — Navi Technologies or SoFi Technologies, Inc.?
Navi Technologies generates $231k / employee in revenue per employee, while SoFi Technologies, Inc. generates $592k / employee. SoFi Technologies, Inc. shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Navi Technologies and SoFi Technologies, Inc. make money?
Navi Technologies and SoFi Technologies, Inc. generate revenue in fundamentally different ways. Navi Technologies: Navi earns most of its income from lending. SoFi Technologies, Inc.: SoFi reports three segments.
Is Navi Technologies bigger than SoFi Technologies, Inc.?
By last reported revenue, SoFi Technologies, Inc. ($3.6B (FY2025)) is the larger company compared to Navi Technologies (~$345.9M (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Navi Technologies vs SoFi overview