Marqeta(US:MQ)2025-02-26 21:07Financial Performance - Total Processing Volume (TPV) for Q4 2024 was $80 billion, a 29% year-over-year increase[2] - Q4 2024 Net Revenue reached $136 million, reflecting a 14% increase year-over-year, while Gross Profit was $98 million, up 18%[2][9] - For the full year 2024, TPV was $291 billion, a 31% increase from 2023, but Net Revenue decreased by 25% to $507 million due to changes in revenue presentation[3][9] - Gross Profit for the full year 2024 was $352 million, representing a 7% year-over-year increase, with a Gross Margin of 69%[3][9] - The company reported a GAAP Net Income of $27 million for the full year 2024, a significant improvement from a loss of $222.96 million in 2023[3][9] - Adjusted EBITDA for Q4 2024 was $13 million, a 285% increase year-over-year, with an Adjusted EBITDA margin of 9%[6][9] - Net revenue for Q4 2024 was $135.79 million, a 14.3% increase from $118.82 million in Q4 2023[24] - Gross profit for the year ended December 31, 2024, was $351.85 million, compared to $329.51 million in 2023, reflecting a 6.8% increase[24] - Net revenue for Q4 2024 was $135.79 million, a 14% increase compared to $118.82 million in Q4 2023[31] - Gross profit for Q4 2024 reached $98.20 million, reflecting an 18% increase from $83.23 million in Q4 2023[31] - Adjusted EBITDA for Q4 2024 was $12.66 million, a significant increase of 285% compared to $3.29 million in Q4 2023[31] Expenses and Losses - Operating expenses for Q4 2024 totaled $135.63 million, down from $139.57 million in Q4 2023, a decrease of 2.1%[24] - The net loss for Q4 2024 was $27.12 million, an improvement from a net loss of $40.38 million in Q4 2023[24] - Total operating expenses for Q4 2024 were $135.63 million, a decrease of 3% from $139.57 million in Q4 2023[31] - Net loss for Q4 2024 was $27.12 million, an improvement of 33% compared to a net loss of $40.38 million in Q4 2023[31] Cash and Assets - Cash and cash equivalents at the end of Q4 2024 were $923.02 million, down from $980.97 million at the end of Q4 2023[27] - Total assets decreased to $1.46 billion in Q4 2024 from $1.59 billion in Q4 2023, a decline of 7.9%[27] - The company reported a net cash provided by operating activities of $58.17 million for the year ended December 31, 2024, compared to $21.10 million in 2023[29] - Total stockholders' equity decreased to $1.09 billion in Q4 2024 from $1.24 billion in Q4 2023, a decline of 12.8%[27] - Cash and cash equivalents at the end of Q4 2024 totaled $923.02 million, a decrease of 6% from $980.97 million at the end of Q4 2023[31] - Stockholders' equity decreased to $1,085.02 million in Q4 2024, down 13% from $1,243.40 million in Q4 2023[31] Strategic Initiatives - Marqeta announced an additional share repurchase program for up to $300 million of its Class A common stock[5] - The company plans to acquire TransactPay to enhance its card issuance capabilities in the UK and EEA, expected to close within 6 months[11][12] - Marqeta's guidance for Q1 2025 includes Net Revenue growth of 14-16% and Gross Profit growth of 11-13%[13] - The company signed new programs in Q4, including its first consumer credit co-brand partnership and several European deals, indicating strong business momentum[5] Liabilities - Total liabilities increased to $378.19 million in Q4 2024, a 9% rise from $346.30 million in Q4 2023[31]