Marqeta Q3 net revenue down 43% to $109M; TPV up 33% to $57B

Marqeta, Inc.

Net revenue $108.9M, down 43% YoY; gross profit $72.5M, down 9% YoY; gross margin expanded to 67% from 42%.
Total processing volume $57B, up 33% YoY, driven by volume growth across use cases.
GAAP net loss $55.0M ($0.10 per share); Adjusted EBITDA loss of $2M.
Extended Block contracts: Square Debit and Cash App both through June 2028; default issuer processor outside US.
Launched new credit platform for consumer and commercial credit card programs.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Marqeta, Inc. reported third quarter ended September 30, 2023 results: revenue $109 million, net income $55 million.

Period: third quarter ended September 30, 2023
Revenue: $109 million
Net income: $55 million
Result: reported results

Exact text from the filing

Marqeta reported net revenue of $109 million, a decrease of 43% year over year

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Marqeta, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-037363

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