Confirm Holdings (MPhA) is set to report fiscal first-quarter earnings after the market closes on Thursday, with analysts expecting buy now pay later (BNPL) firm to aggressively pursue new users as interest rates fall.

Wall Street expects Affirm to report revenue growth of nearly 34% year over year to $663.9 million, according to consensus estimates from Visible Alpha. Analysts generally expect the fintech firm to post a net loss of $107.5 million, or 33 cents per diluted share, according to Visible Alpha.

Deutsche Bank anticipates revenue of about $670 million, the high end of Affirm’s guidance. Its analysts described falling interest rates as an opportunity for a company that has managed credit “skillfully”. Affirm quickly adjusted its underwriting techniques and trading fees when unemployment skyrocketed during the onset of COVID-19, analysts said in an Oct. 28 note.

“With interest rates falling, (Affirm) has an opportunity to approve more users as lower funding costs allow it to be more aggressive,” they wrote.

Terms vary, but BNPL products tend to use short-term loans to break up a purchase into fixed, interest-free installments. Fintech companies can charge merchants for facilitating BNPL transactions with their customers as well as commissions for delinquent borrowers.

affirm recently launched in the UKand domestically additional growth is expected from Amazon.com (AMZN) and Shopify (STORE) customers, the note says. The fintech company’s new deal with Apple (AAPL) may have less of an impact because Apple Pay also works with competitors Klarna and Monzo Flex, the note said.

The statement should be profitable on a GAAP in the last quarter of its fiscal year, which ends at the end of June, CEO Max Levchin said.

affirm stocks jumped after the company reported fiscal fourth-quarter results earlier this year. Shares were down about 7% this year through Tuesday’s close.