Most millionaires reach that level of wealth by investing their cash into profitable assets. Investments allow your money to work for you, and the growth becomes more pronounced once you get past the first $100,000. 

That milestone is the hardest part about being a millionaire. That’s because of how percentages work. If your $10,000 portfolio goes up by 10%, you only have $11,000. That’s still better than nothing, but if you generate that same return on a $500,000 portfolio, your portfolio will gain an additional $50,000. 

Both scenarios demonstrate what happens with a 10% return, but one portfolio generated an additional $50,000 while the smaller portfolio only brought in $1,000. Buying growth stocks with exceptional returns can help you reach your financial goals sooner. Combine that with regular investments, and it’s possible to reach a 7-figure portfolio. Investors with that objective may want to look closely at these seven growth stocks to buy.

Crowdstrike (CRWD)

Crowdstrike (NASDAQ:CRWD) has been a top cybersecurity player for several years, but its recent inclusion in the S&P 500 has brought more attention to the outperformer. The stock is up by 58% year-to-date and has gained 440% over the past five years.

Crowdstrike continues to report robust revenue growth, while other cybersecurity companies are experiencing growth deceleration due to industrial headwinds. This context makes Crowdstrike’s 33% year-over-year revenue growth in Q1 FY25 even more impressive. Net income also expanded in the quarter, going from $0.5 million to $42.8 million year-over-year. 

The company’s business model indicates that more gains are likely. Most of Crowdstrike’s revenue is recurring, and it closed out the quarter with $3.65 billion in annual recurring revenue. That includes $211.7 million in net new recurring yearly revenue added in the quarter. Cybersecurity is a booming industry that becomes more important every year, and Crowdstrike is leading the pack.

Deckers Outdoor (DECK)

Deckers Outdoor (NYSE:DECK) has gained market share in the athletic apparel industry. At the same time, corporate heavyweights like Nike (NYSE:NKE) are losing ground. Deckers Outdoor continues to march forward with its UGG and HOKA brands.

It’s another recent addition to the S&P 500 that has been crushing the stock market. Shares are up by 51% year-to-date and have gained 480% over the past five years. Deckers Outdoor is valued at $26 billion and trades at a 35 P/E ratio. 

The athletic apparel company reported solid results in the fourth quarter of fiscal 2024. Revenue increased by 21.2% year-over-year in the quarter and was up by 18% for the year. The HOKA brand made up more than half of total sales and was up by 34.0% year-over-year. UGG sales were up by 14.9% year-over-year, reaching $361.3 million. 

Deckers Outdoor is growing in both the domestic and international markets. Domestic sales increased by 19.4% year over year, while international sales were up by 25.2% year over year. Strong growth in both markets points to more runway for the stock.

Duolingo (DUOL)

Duolingo (NASDAQ:DUOL) helps millions of people learn new languages. The educational tech company has also recently expanded to offer lessons in various subjects, like math and music. More than 31.4 million people use Duolingo every day. Duolingo cited the 54% year-over-year increase to a record number of net daily user additions. The surge in daily active users contributed to the company’s 45% year-over-year revenue growth. Duolingo reported $167.6 million in total revenue compared to $27.0 million in net income. 

Duolingo now exhibits double-digit profit margins after burning through cash just a year ago. The net profit margin came in at 16.1% this quarter. Shares are up by more than 40% over the past year, including a 19% gain over the past month. Duolingo looks ready to rally, and rising profits will make the valuation more reasonable for long-term investors. The company is currently valued at $9 billion.

Semrush (SEMR)

Semrush (NYSE:SEMR) is the search engine marketing tool of choice for many freelancers and businesses. The platform makes it easier to discover good keywords, run successful ad campaigns, and monitor the competition. 

Many businesses compete for the top search results on Google, Alphabet’s (NASDAQ:GOOG, NASDAQ:GOOGL) child company. Some small businesses make millions of dollars each year by ranking at the top of Google’s search results for the right keywords. Companies will look for any competitive edge to increase their chances of showing up on Google, and Semrush has helped many businesses.

The digital marketing tool has 112,000 paying customers, up by 10% year-over-year. Semrush is also doing a great job getting customers to upgrade their subscriptions. Even though the paying customer base only increased by 10% year-over-year, revenue was up by 21% year-over-year. Semrush also generated a profit of $2.1 million during the quarter. Semrush also has 1.13 million registered free active customers. This figure is up by 27% year-over-year and presents additional revenue growth opportunities. Most of Semrush’s revenue is recurring, translating into steady growth.

Upwork (UPWK)

Upwork (NASDAQ:UPWK) hasn’t had the best stretch. It’s down by 28% year-to-date and over 80% from its peak. However, the tide appears to be shifting for Upwork. The company is only valued at $1.4 billion and trades at a 30 P/E ratio. That P/E ratio is reasonable for a leader in the remote work industry with rising revenue and earnings.

The remote work marketplace reported 19% year-over-year revenue growth in the first quarter 2024. While revenue reached $190.9 million, net income reached $18.4 million, a 7% year-over-year improvement. Upwork presents growth at a reasonable price, and if growth surges, the current price can look like a bargain. 

While remote work continues to attract more attention, Upwork’s advertising segment also presents a compelling opportunity. Upwork’s ads and monetization products segment grew by 93% year over year and is the company’s fastest-growing revenue stream. Freelancer Plus exceeded 100,000 active subscriptions and was up by 76% year over year. Continued growth in these revenue streams can help Upwork regain positive momentum and deliver solid gains.

Chipotle (CMG)

Chipotle (NYSE:CMG) continues to march higher. It’s up by 50% year-to-date as a 50-for-1 stock split looms for the fast food restaurant chain. Chipotle’s healthier food options have given it more pricing power. Despite multiple price hikes, customers come through Chipotle’s doors in droves and continue to elevate the company’s financials.

Chipotle reported 14.1% year-over-year revenue growth in the first quarter, fueled by a 7.0% year-over-year increase in comparable restaurant sales growth. Net income remained elevated by 23.2% year-over-year, resulting in a 13.3% net profit margin.

While the stock gains have been impressive for several years, more growth is on the menu. Chipotle opened up 47 new restaurants in the quarter and remains on pace for 285-315 new restaurants this year. New restaurant openings allow Chipotle to deliver higher revenue growth since it can reach customers in more locations. Reducing how far people drive to arrive at a Chipotle can also increase how often its most loyal customers buy food from one of its restaurants. 

SoFi (SOFI)

SoFi (NASDAQ:SOFI) has been a tough hold for long-term investors. Shares are down by more than 30% year-to-date and 38% over the past five years. Additionally, the stock is more than 70% removed from its all-time high.

Despite this context, SoFi looks like it’s on the verge of outperforming the stock market. The digital bank reported 37% year-over-year revenue growth in Q1 2024 and net income of $88.0 million. SoFi’s profits are notable since the fintech firm reported a net loss of $34.4 million in the same quarter last year.

SoFi’s financial products are picking up momentum. It offers bank accounts, loans, credit cards, investment portfolios, and other resources for its 8.1 million members. SoFi CEO Anthony Noto has been capitalizing on the lower price of SoFi stock. He recently purchased $199,000 worth of SoFi stock and now has 8.12 million shares in the company. It’s usually a good sign when the CEO is buying more shares of his own company.

On this date of publication, Marc Guberti held long positions in CRWD, DECK, and SOFI. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.