The London-listed money-transfer company reported underlying income of £424.4 million in the three months through December, which exceeded the £412 million average estimate compiled in a Bloomberg survey of analysts.

The firm is targeting a profit-before-tax margin of 13% to 16% in the medium term, and expects it to be at the top end of the range in the current financial year. “We remain on track to meet our guidance,” Kristo Kaarmann, co-founder and chief executive officer said in a statement Tuesday.

Wise had applied to be directly regulated in the US last year after announcing plans to shift its main stock market listing from London to the US. While it awaits a decision from the US Office of Comptroller of the Currency on its national trust bank charter application, Kaarmann said a US listing “will further increase our profile in the US” as it seeks to partner with more than 4,000 banks across the US.

Wise’s US business has grown to employ more than 750 staffers, including over 450 people in Austin. The fintech is now actively hiring dozens more staff, from engineers to key financial control roles.

The firm’s revenue in the quarter was boosted by a 15% increase in cross-border revenue from a year earlier to £245.4 million, as the number of customers grew to almost 11 million from about 9 million from the same period a year ago.

For the full year, Wise now expects administrative expenses to be about £1 billion, which it said would include approximately £35 million of costs associated with the dual-listing.

Wise said the bulk of the increased spending so far this financial year has been tied to hiring.