Marqeta shares tumbled more than 30% in extended trading on Monday after the company issued weaker-than-expected guidance for the fourth quarter.Here's how the company did compared with Wall Street estimates, based on a survey of analysts by LSEG:Loss per share: 6 cents, adjusted vs. 5 cents expectedRevenue: $128 million vs. $128.1 million expectedWhile third-quarter results showed a slight disappointment on the top and bottom lines, Marqeta's forecast for the current period was more concerning.The payment ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each classTrading Symbol(s) Name of each exchange on which registered Class A common stock, $0.0001 par value per share MQ The Nasdaq Stock Market LLC (Nasdaq Global Select Market) FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

MARQETA REPORTS THIRD QUARTER 2024 FINANCIAL RESULTS The global modern card issuer reported Total Processing Volume growth of 30% and Gross Profit growth of 24% in the third quarter of 2024. OAKLAND, Calif. – November 4, 2024 - Marqeta, Inc. (NASDAQ: MQ), the global modern card issuing platform, today reported financial results for the third quarter ended September 30, 2024. The Company reported Total Processing Volume (TPV) of $74 billion, representing a year-over-year increase of 30%. The Company reported ...

Card issuing platform Marqeta has a new chief artificial intelligence (AI) officer. Fouzi Husaini, a veteran of Amazon and Capital One, will play a key role in Marqeta's efforts to scale its AI organization, the company announced Monday (Sept. 23). "We're thrilled to have Fouzi on board," Marqeta Chief Product and Technology Officer Randy Kern said in a news release. "His deep knowledge of AI and machine learning, combined with decades of on-the-ground AI leadership at top companies, will be instrumental in ...

Marqeta (MQ) closed the last trading session at $5.33, gaining 9% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $7.36 indicates a 38.1% upside potential. The average comprises 16 short-term price targets ranging from a low of $5.50 to a high of $9, with a standard deviation of $1.09. While the lowest estimate indicates an increase of 3.2% from the current price level, the most op ...

This company is doing far better than most of Wall Street realizes. Fintech card issuer Marqeta (MQ -0.19%) went public in the summer of 2021, and the market has mercilessly sold it down ever since. The stock peaked near $33 shortly after its IPO but has drifted as low as $3 and is hanging around $5 today. Investors should be careful about letting price action define the company behind the stock. Was Marqeta expensive at over $30? Did the stock deserve to trade for a few dollars per share? The truth is usua ...

Marqeta (MQ) closed the last trading session at $5.43, gaining 3% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $7.36 indicates a 35.5% upside potential. The mean estimate comprises 16 short-term price targets with a standard deviation of $1.09. While the lowest estimate of $5.50 indicates a 1.3% increase from the current price level, the most optimistic analyst expects the stock ...

Growth - Marqeta's Q2 revenue declined 46% YoY to $125M, primarily due to the Block contract renewal which impacted revenue presentation and reduced pricing, negatively affecting growth rate by 60pp [4] - Despite revenue decline, Total Processing Volume (TPV) grew 32% YoY and 6% QoQ to $70.6B in Q2, indicating strong platform performance and durable client base [4] - Non-Block TPV grew more than 15pp faster than Block TPV in Q2, with financial services vertical non-Block TPV growing over 100% YoY [5][6] - Management expects revenue to return to positive growth in Q3 and Q4, with projected growth of 16% to 18% YoY, and TPV growth to remain robust at over 30% YoY [6] Profitability - Q2 Gross Profit declined 6% YoY to $79M, with Gross Margin at 63%, down 8pp QoQ due to reduced pricing from Block renewal and lower card network incentives [7] - Take Rate declined to 0.11% in Q2, down 5bps YoY and 2bps QoQ, reflecting potential pricing power loss [8] - Management expects Gross Profit growth to accelerate in H2, with Q3 growth projected at 25% to 27% and Q4 at 22% to 24%, with Gross Margin expected to be in the low 70s [8] - Adjusted EBITDA turned negative in Q2 at $(2)M, but is expected to turn positive in Q3 with margins of 4% to 6%, and further improve to 6% to 8% in Q4 [9][10] Financial Health - Marqeta has a Net Cash position of $1.2B with virtually zero debt, representing 40% of its current Market Cap of $2.7B [12] - The company has been aggressively buying back shares, repurchasing $59M worth of stock in Q2, reducing shares outstanding by about 6% since May last year [13] - Trailing twelve-month Free Cash Flow reached a record $81M in Q2, representing a FCF Margin of 17% [13] Valuation - Marqeta stock is down 80% from its IPO price, trading at EV to Revenue and EV to Gross Profit multiples of 3.3x and 4.9x, respectively, which is considered cheap given its growth trajectory and financial health [14] - A base-case 12-month price target of $8.54 per share is projected, representing an upside potential of about 64% [15][16] Strategic Partnerships - Marqeta signed a 5-year deal with Varo Bank to become its issuer processor, powering over 5M cards [6] - The company partnered with Affirm and Visa to support Visa Flexible Credential, allowing cardholders to toggle between different payment methods [6] - Marqeta also signed with Zoho to deliver expense management and embedded finance solutions for over 700K businesses [6]

Marqeta, Inc. (NASDAQ:MQ) Q2 2024 Earnings Conference Call August 7, 2024 4:30 PM ET Company Participants Stacey Finerman - VP, Investor Relations Simon Khalaf - CEO Mike Milotich - CFO Conference Call Participants Timothy Chiodo - UBS Tien-Tsin Huang - JPMorgan Darrin Peller - Wolfe Research Craig Maurer - FT Partners Ramsey El-Assal - Barclays Will Nance - Goldman Sachs Andrew Schmidt - Citi Andrew Bauch - Wells Fargo Bryan Keane - Deutsche Bank Operator Welcome to the Marqeta Second Quarter 2024 Earnings ...

Marqeta (MQ) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.19 per share. This compares to loss of $0.07 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 21.05%. A quarter ago, it was expected that this transaction processing services provider would post a loss of $0.08 per share when it actually produced a loss of $0.07, delivering a surprise of 12.50%. Over the last four quarte ...