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Side-by-side financial comparison of Circle Internet Group, Inc. (CRCL) and SoFi Technologies, Inc. (SOFI). Click either name above to swap in a different company.
SoFi Technologies, Inc. is the larger business by last-quarter revenue ($170.3M vs $28.5M, roughly 6.0× Circle Internet Group, Inc.). Circle Internet Group, Inc. runs the higher net margin — 751.8% vs 101.9%, a 649.8% gap on every dollar of revenue. On growth, Circle Internet Group, Inc. posted the faster year-over-year revenue change (5113.5% vs 25.7%). Circle Internet Group, Inc. produced more free cash flow last quarter ($-14.7M vs $-1.1B).
Circle is a payments technology company. Funded by Jeremy Allaire and Sean Neville in 2013, it is currently headquartered in New York City and issues two types of stablecoin: USDC, which has a conversion rate pegged to the U.S. dollar, and EURC, which is euro-denominated. It also issues USYC, a tokenized money market fund.
SoFi Technologies, Inc. is an American financial technology company. Founded in 2011 by Stanford University students, it operates as a nationally chartered online bank and is a technology provider to other financial institutions. SoFi is the largest U.S. based online lender, and has 13.7 million customers as of 2025.
CRCL vs SOFI — Head-to-Head
Income Statement — Q3 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $28.5M | $170.3M |
| Net Profit | $214.4M | $173.5M |
| Gross Margin | — | 5.1% |
| Operating Margin | — | — |
| Net Margin | 751.8% | 101.9% |
| Revenue YoY | 5113.5% | 25.7% |
| Net Profit YoY | 202.0% | -47.8% |
| EPS (diluted) | $0.64 | $0.14 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $170.3M | ||
| Q3 25 | $28.5M | $156.8M | ||
| Q2 25 | $23.8M | $151.9M | ||
| Q1 25 | — | $140.4M | ||
| Q4 24 | — | $135.5M | ||
| Q3 24 | $547.0K | $131.2M | ||
| Q2 24 | $6.8M | $120.8M | ||
| Q1 24 | — | $115.6M |
| Q4 25 | — | $173.5M | ||
| Q3 25 | $214.4M | $139.4M | ||
| Q2 25 | $-482.1M | $97.3M | ||
| Q1 25 | — | $71.1M | ||
| Q4 24 | — | $332.5M | ||
| Q3 24 | $71.0M | $60.7M | ||
| Q2 24 | $32.9M | $17.4M | ||
| Q1 24 | — | $88.0M |
| Q4 25 | — | 5.1% | ||
| Q3 25 | — | -3.0% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 3.5% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | 9.2% | ||
| Q1 24 | — | 13.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | 94.7% | ||
| Q2 25 | -1367.8% | 73.9% | ||
| Q1 25 | — | 56.8% | ||
| Q4 24 | — | 44.2% | ||
| Q3 24 | — | 48.7% | ||
| Q2 24 | — | 12.7% | ||
| Q1 24 | — | 81.5% |
| Q4 25 | — | 101.9% | ||
| Q3 25 | 751.8% | 88.9% | ||
| Q2 25 | -2025.3% | 64.0% | ||
| Q1 25 | — | 50.7% | ||
| Q4 24 | — | 245.4% | ||
| Q3 24 | 12979.2% | 46.3% | ||
| Q2 24 | 486.5% | 14.4% | ||
| Q1 24 | — | 76.2% |
| Q4 25 | — | $0.14 | ||
| Q3 25 | $0.64 | $0.11 | ||
| Q2 25 | $-4.48 | $0.08 | ||
| Q1 25 | — | $0.06 | ||
| Q4 24 | — | $0.31 | ||
| Q3 24 | $0.00 | $0.05 | ||
| Q2 24 | $0.00 | $0.01 | ||
| Q1 24 | — | $0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $4.9B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.0B | $10.5B |
| Total Assets | $76.8B | $50.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $4.9B | ||
| Q3 25 | $1.3B | $3.2B | ||
| Q2 25 | $1.1B | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | $577.3M | $2.4B | ||
| Q2 24 | $457.5M | $2.3B | ||
| Q1 24 | — | $3.7B |
| Q4 25 | — | $10.5B | ||
| Q3 25 | $3.0B | $8.8B | ||
| Q2 25 | $2.4B | $6.9B | ||
| Q1 25 | — | $6.7B | ||
| Q4 24 | — | $6.5B | ||
| Q3 24 | $557.7M | $6.1B | ||
| Q2 24 | $460.9M | $5.9B | ||
| Q1 24 | — | $5.8B |
| Q4 25 | — | $50.7B | ||
| Q3 25 | $76.8B | $45.3B | ||
| Q2 25 | $64.2B | $41.1B | ||
| Q1 25 | — | $37.7B | ||
| Q4 24 | — | $36.3B | ||
| Q3 24 | — | $34.4B | ||
| Q2 24 | — | $32.6B | ||
| Q1 24 | — | $31.3B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-10.7M | $-991.2M |
| Free Cash FlowOCF − Capex | $-14.7M | $-1.1B |
| FCF MarginFCF / Revenue | -51.7% | -621.0% |
| Capex IntensityCapex / Revenue | 14.2% | 39.0% |
| Cash ConversionOCF / Net Profit | -0.05× | -5.71× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-4.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-991.2M | ||
| Q3 25 | $-10.7M | $-1.3B | ||
| Q2 25 | — | $-1.5B | ||
| Q1 25 | — | $21.5M | ||
| Q4 24 | — | $-200.1M | ||
| Q3 24 | — | $-1.2B | ||
| Q2 24 | — | $-484.4M | ||
| Q1 24 | — | $738.2M |
| Q4 25 | — | $-1.1B | ||
| Q3 25 | $-14.7M | $-1.4B | ||
| Q2 25 | — | $-1.5B | ||
| Q1 25 | — | $-31.1M | ||
| Q4 24 | — | $-242.4M | ||
| Q3 24 | — | $-1.2B | ||
| Q2 24 | — | $-521.1M | ||
| Q1 24 | — | $706.3M |
| Q4 25 | — | -621.0% | ||
| Q3 25 | -51.7% | -871.1% | ||
| Q2 25 | — | -1007.6% | ||
| Q1 25 | — | -22.2% | ||
| Q4 24 | — | -178.9% | ||
| Q3 24 | — | -927.3% | ||
| Q2 24 | — | -431.4% | ||
| Q1 24 | — | 610.9% |
| Q4 25 | — | 39.0% | ||
| Q3 25 | 14.2% | 38.3% | ||
| Q2 25 | — | 41.8% | ||
| Q1 25 | — | 37.5% | ||
| Q4 24 | — | 31.2% | ||
| Q3 24 | — | 33.0% | ||
| Q2 24 | — | 30.4% | ||
| Q1 24 | — | 27.7% |
| Q4 25 | — | -5.71× | ||
| Q3 25 | -0.05× | -9.37× | ||
| Q2 25 | — | -15.08× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | -0.60× | ||
| Q3 24 | — | -19.32× | ||
| Q2 24 | — | -27.83× | ||
| Q1 24 | — | 8.39× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRCL
| Subscription And Services Revenue | $23.6M | 83% |
| Transaction Services | $4.7M | 16% |
SOFI
| Technology Platform Segment | $94.0M | 55% |
| Interchange | $35.9M | 21% |
| Referrals Loan Platform | $19.7M | 12% |
| Brokerage | $12.9M | 8% |
| Financial Service Other | $4.1M | 2% |
| Other | $3.6M | 2% |
