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Jun 30, 2023
Marqeta Q2 2023 Earnings Report
Marqeta demonstrated growth and strategic advancements.
Key Takeaways
Marqeta reported a 24% increase in net revenue, reaching $231 million, driven by a 33% increase in total processing volume (TPV). The company also extended its contract with Cash App for four years and expanded into Brazil through a partnership with Fitbank.
Total processing volume (TPV) increased by 33% year-over-year, reaching $54 billion.
Net revenue grew by 24% year-over-year to $231 million.
Gross profit increased by 8% year-over-year to $85 million, with a gross margin of 37%.
Extended partnership with Block to continue powering its Cash App card product for four years.
Forward Guidance
This press release contains forward-looking statements that are subject to risks and uncertainties, including global economic conditions, business and financial performance, demand for our platform, and regulatory landscape.
Challenges Ahead
- Uncertainties related to global economies.
- Risk of not attracting, retaining, diversifying, and expanding customer base.
- Risk of technology platform outages.
- Risk of competition reducing demand for services.
- Risk of financial services and banking sector instability.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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