SoFi (NASDAQ:SOFI) stock is advancing in early trading after the company delivered “beat-and-raise” first-quarter results. The lender continues to anticipate profitability by the end of 2023.

SoFi’s Q1 revenue soared 43% versus the same period a year earlier to $460 million, beating analysts’ average estimate by $23 million. The firm’s per-share loss came in at 5 cents, 3 cents better than the mean outlook. It generated EBITDA, excluding some items, of $76 million, above its previous guidance range of $40 million to $45 million.

The firm’s cash and cash equivalents jumped to $2.5 billion, up from $1.4 billion at the end of the previous period.

SoFi reiterated its belief that it will enter the black by Q4.

For the full year, the company predicts that its top line will come in at $1.95 billion-$2.02 billion, compared with analysts’ mean estimate of $1.97 billion and above the firm’s previous outlook of $1.925 billion to $2 billion.

What SOFI Stock Investors Are Watching

Investors should, of course, determine whether SoFi will be able to continue delivering rapid growth and meet its guidance. They should also consider the extent to which the company, which enables crypto trading and specializes in providing student loans, could be negatively affected by near-term headwinds. Namely, the continued regulatory crackdown on crypto, a possible forgiveness of student loan debt, and its decision to sue President Joe Biden’s administration over the government’s suspension of payments on student loans.

SOFI shares have a trailing price-to-sales ratio of 3.4. Before today’s open, they had already jumped 35% this year. However, in the last 12 months, they are down 1.6%.

On the date of publication, Larry Ramer 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.