Hi Chris, I'm wondering where you saw the "churn" numbers? I looked through some Q3 earnings material and didn't find it, though you said the numbers are this year (maybe 2025)? Without pulling up other 8-Ks and etc., the "Members" definition in Q3 seems to be the same or similar at first glance. "Once someone becomes a member, they are always considered a member unless they are removed in accordance with our terms of service, in which case, we adjust our total number of members."
Thank you; it's just something I've been curious about for a long time.
Hey Doug. I calculate them myself. It's the difference between how much the total members changed in a quarter compared to the new members added. For example, let's say Q3 had 9,300k members, and that in Q4 they add 800k new members. You'd expect for there to be 10,100k members. However, when you look at the numbers, you see that the total members was reported as 10,050 members. That would mean there were 50k churned members during the quarter.
Hi Chris, I'm wondering where you saw the "churn" numbers? I looked through some Q3 earnings material and didn't find it, though you said the numbers are this year (maybe 2025)? Without pulling up other 8-Ks and etc., the "Members" definition in Q3 seems to be the same or similar at first glance. "Once someone becomes a member, they are always considered a member unless they are removed in accordance with our terms of service, in which case, we adjust our total number of members."
Thank you; it's just something I've been curious about for a long time.
Hey Doug. I calculate them myself. It's the difference between how much the total members changed in a quarter compared to the new members added. For example, let's say Q3 had 9,300k members, and that in Q4 they add 800k new members. You'd expect for there to be 10,100k members. However, when you look at the numbers, you see that the total members was reported as 10,050 members. That would mean there were 50k churned members during the quarter.
Oh that explains it! I always thought SoFi should publish the number for visibility, even though it may be insignificant. Thank you for explaining.
Excellent work, thank you.
Thank you for reading and I'm glad you found it helpful
Lessssgo!
great article DDI, thank you for all your insights. I like the touch of optimism at the end of your article, fingers crossed it happens 🙂
🤞 We'll know soon