Affirm Holdings, Inc. (NASDAQ:AFRM) shares closed more than 31% on Friday following the company’s Q2 beat and raised 2022 guidance.

EPS came in at ($0.19), better than the Street estimate of ($0.53). Revenue was $355 million, compared to the consensus estimate of $344 million as gross merchandise volume (GMV) increased 73% year-over-year to $3.9 billion, compared to the consensus estimate of $3.79 billion.

Importantly, management highlighted a plan to achieve “sustained” adjusted operating income profitability, on a run rate basis, by the end of 2023, demonstrating both the scale of its business model and management’s willingness to achieve profitability.

The company raised its full 2022-year GMV estimate to $15.04–$15.14 billion and revenue to $1.33–$1.34 billion compared to the previous $14.58–$14.78 billion and $1.29–$1.31 billion, respectively.