Marqeta Q1 net loss widens to $69M; revenue up 31% to $217M, announces $200M buyback

Marqeta, Inc.

TPV crossed $50B (+37% YoY); net revenue $217M (+31% YoY).
GAAP net loss $68.8M ($0.13 loss per share); Adj. EBITDA loss $4M.
Gross profit $89M (19% YoY), gross margin 41% (down from 45%).
Board approves $200M share repurchase program for Class A common stock.
Plans restructuring to reduce annual operating expenses by $40-45M.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.4

Marqeta, Inc. reported financial results for first quarter ended March 31, 2023.

Period: first quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On May 9, 2023 , Marqeta, Inc. issued a press release announcing its financial results for the quarter ended March 31, 2023. A copy of the press release is furnished as Exhibit 99.1 to this current report on Form 8-K and is incorporated herein by reference.

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Marqeta, Inc. filing history →

Source: SEC EDGAR

accession 0001522540-23-000023

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