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Mar 31, 2025
Marqeta Q1 2025 Earnings Report
Reported First Quarter 2025 Financial Results
Key Takeaways
Marqeta reported strong results for the first quarter of 2025, with significant growth in Total Processing Volume, Gross Profit, and Adjusted EBITDA, demonstrating improved profitability alongside business expansion.
Total Processing Volume increased 27% year-over-year to $84 billion.
Net Revenue grew 18% year-over-year to $139 million.
Gross Profit increased 17% year-over-year to $99 million.
Adjusted EBITDA more than doubled, rising 118% year-over-year to $20 million.
Forward Guidance
Marqeta provided guidance for the second quarter and full fiscal year 2025.
Positive Outlook
- Second quarter Net Revenue growth expected between 11% and 13%.
- Fiscal year 2025 Net Revenue growth expected between 13% and 15%.
- Second quarter Gross Profit growth expected between 23% and 25%.
- Fiscal year 2025 Gross Profit growth expected between 14% and 16%.
- Adjusted EBITDA Margin for both the second quarter and full year 2025 expected between 10% and 11%.
Challenges Ahead
- Guidance for Net Revenue reflects the accounting impact of a renegotiated platform partner agreement.
- Forward reconciliation of Adjusted EBITDA margin to GAAP measure is not available due to estimation challenges.
- Certain items for forward-looking non-GAAP measures cannot be reasonably predicted.
- Estimates of certain items for forward-looking non-GAAP measures could be significant.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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