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Jun 30, 2024
Marqeta Q2 2024 Earnings Report
Marqeta's financial performance reflected a mix of strategic progress and challenges in Q2 2024.
Key Takeaways
Marqeta reported a 32% year-over-year increase in Total Processing Volume (TPV) reaching $71 billion. Net Revenue decreased by 46% to $125 million, impacted by a change in revenue presentation due to a new Cash App contract. GAAP Net Income was $119 million, including a $158 million one-time benefit. Adjusted EBITDA was negative $2 million.
Total Processing Volume (TPV) increased by 32% year-over-year to $71 billion.
Net Revenue decreased by 46% year-over-year to $125 million, impacted by Cash App contract changes.
GAAP Net Income was $119 million, including a one-time benefit of $158 million.
Marqeta signed a five-year deal with Varo Bank and is the first U.S. issuer-processor certified by Visa to support Visa Flexible Credential.
Forward Guidance
This press release contains forward-looking statements that are subject to risks and uncertainties.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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