---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-021086"
form_type: "8-K"
ticker: "MQ"
cik: "0001522540"
company_name: "Marqeta, Inc."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T17:55:41.883429+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Marqeta Q1: net rev $118M, adj EBITDA +$9M; exec chairman Gardner to step down; $200M buyback

## Summary
- Net revenue $118M (-46% YoY) due to Cash App contract change; Gross profit $84M (-6%); GAAP net loss $36M.
- Adjusted EBITDA positive $9M (8% margin); TPV $67B (+33% YoY).
- Executive Chairman Jason Gardner to step down June 13, 2024; remains as director; forfeits performance award, resulting in $157.8M reversal of stock comp in Q2.
- Board authorized $200M share repurchase program for Class A common stock.
- Jud Linville named independent Chair; Gardner converted 17.71M Class B shares to Class A reducing voting power to ~40%.

## SEC filing metadata
- accession: 0001628280-24-021086
- form_type: 8-K
- ticker: MQ
- cik: 0001522540
- company_name: Marqeta, Inc.
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1522540/000162828024021086/0001628280-24-021086-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1522540/000162828024021086/mq-20240507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-021086
- JSON: https://secwatch.observer/filing/0001628280-24-021086.json
- Plain text: https://secwatch.observer/filing/0001628280-24-021086.txt

## Key facts
- Earnings Releases
  Marqeta, Inc. reported the first quarter ended March 31, 2024 results: revenue $118 million, net income $36 million.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $118 million
  - Net income: $36 million
  - Result: reported results
  source text: Marqeta reported Net Revenue of $118 million, a decrease of 46% year over year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1522540/000162828024021086/0001628280-24-021086-index.htm
- Executive change
  Jason Gardner changed role as Executive Chairman at Marqeta, Inc..
  - Action: stepped down
  - Role: Executive Chairman
  source text: On May 6, 2024, Jason Gardner informed the Company's Board of Directors (the "Board") and the Company agreed that Mr. Gardner would step down from his position as Executive Chairman, effective June 13, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1522540/000162828024021086/0001628280-24-021086-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.