secwatch.observer — SEC 8-K summary
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Issuer:     Marqeta, Inc. (MQ)
CIK:        0001522540
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001628280-23-037363
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1522540/000162828023037363/0001628280-23-037363-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1522540/000162828023037363/mq-20231107.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-037363

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer