•
Mar 31, 2023
Marqeta Q1 2023 Earnings Report
Marqeta's financial results for Q1 2023 were released, showcasing growth in key areas and strategic initiatives.
Key Takeaways
Marqeta reported a 31% increase in net revenue, reaching $217 million, driven by a 37% increase in total processing volume (TPV) to $50 billion. The company is implementing operational efficiencies to reduce expenses and has authorized a $200 million share repurchase program.
Total processing volume (TPV) reached $50 billion, a 37% year-over-year increase.
Net revenue increased by 31% year-over-year to $217 million.
Gross profit increased by 19% year-over-year to $89 million.
The board of directors authorized a $200 million share repurchase program.
Marqeta
Marqeta
Forward Guidance
Marqeta provided guidance for the second quarter of 2023, anticipating net revenue growth of 17-19%, gross profit growth of 1-3%, and an adjusted EBITDA margin of negative 4-6%.