Marqeta, Inc. ( (MQ) ) has released its Q4 earnings. Here is a breakdown of the information Marqeta, Inc. presented to its investors.
Marqeta, Inc. is a global modern card issuing platform that empowers its customers with customizable payment card solutions, operating primarily in the fintech sector with a focus on innovative payment experiences.
In its latest earnings report, Marqeta announced a substantial increase in its total processing volume (TPV) for the fourth quarter of 2024, which grew by 29% year-over-year, alongside an 18% rise in gross profit. However, the company reported a net loss for the quarter, although it showed improvement compared to the previous year.
Key financial metrics from the report highlight a fourth-quarter net revenue of $136 million, marking a 14% increase year-over-year, and a gross profit of $98 million. Despite a GAAP net loss of $27 million, the adjusted EBITDA showed a significant improvement, reaching $13 million for the quarter. For the full year 2024, Marqeta’s TPV rose by 31%, while net revenue saw a 25% decline due to changes in revenue presentation related to a contract renewal with Cash App.
Strategically, Marqeta made notable advancements by signing new programs, including a consumer credit co-brand partnership and several European deals. The company also announced its acquisition of TransactPay to enhance its card issuance capabilities in Europe, and plans to integrate the American Express network into its platform.
Looking ahead, Marqeta’s management remains optimistic, projecting net revenue growth of 14-16% for the first quarter of 2025 and continuing to focus on expanding its platform capabilities and partnerships to serve the fintech and embedded finance sectors effectively.
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