SoFi Has Another Loss in Q3

According to the WSJ, SoFi experienced a $12 million EBITDA loss in the 3rd quarter. That follows a $150 million loss in Q2.

“We optimized for investing over profitability this quarter, and expect this to continue given the opportunity in front of us,” SoFi CEO Anthony Noto wrote in a letter to shareholders obtained by the WSJ.

At Money2020 last month, Noto suggested that the company would eventually need to open physical locations to manage cash transactions.