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Sep 30, 2024
Marqeta Q3 2024 Earnings Report
Marqeta reported a 30% increase in Total Processing Volume and a 24% increase in Gross Profit for the third quarter of 2024.
Key Takeaways
Marqeta's Q3 2024 results showed strong growth with a 30% increase in Total Processing Volume (TPV) reaching $74 billion, and an 18% increase in Net Revenue to $128 million. Gross Profit also increased by 24% to $90 million. The company reported a GAAP Net Loss of $29 million, while Adjusted EBITDA stood at $9 million.
Total Processing Volume (TPV) increased by 30% year-over-year, reaching $74 billion.
Net Revenue increased by 18% year-over-year to $128 million.
Gross Profit increased by 24% year-over-year to $90 million.
GAAP Net Loss improved by $26 million year-over-year to $29 million.
Forward Guidance
Marqeta provided guidance for the fourth quarter of 2024, anticipating Net Revenue Growth of 10-12%, Gross Profit Growth of 13-15%, and an Adjusted EBITDA Margin of 5-7%.
Positive Outlook
- Net Revenue Growth: Expected to be in the range of 10-12%.
- Gross Profit Growth: Anticipated to be between 13-15%.
- Adjusted EBITDA Margin: Projected to be 5-7%.
- Focus on operational efficiency to drive profitability.
- Continued innovation with new product announcements.
Challenges Ahead
- Heightened scrutiny of the banking environment.
- Specific customer program changes.
- Uncertainty related to global elections.
- Changes in inflation and interest rates.
- Uncertainty in global economic conditions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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