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Marqeta, Inc. - MQ STOCK NEWS

Welcome to our dedicated page for Marqeta news (Ticker: MQ), a resource for investors and traders seeking the latest updates and insights on Marqeta stock.

Marqeta, Inc. (symbol: MQ) is at the forefront of payment technology, providing a cutting-edge platform for issuing digital, physical, and tokenized payment options. Founded in 2010 and headquartered in Oakland, California, Marqeta has re-engineered how payment cards and mobile authorization products are developed and deployed. The company’s fully documented, open API issuer processor platform offers unparalleled control over how transactions are authorized, enabling companies to build, issue, and deploy innovative payment solutions.

The Marqeta platform is designed from the ground up without any legacy infrastructure, ensuring it is both modern and flexible. It integrates seamlessly with major payment networks like Visa, MasterCard, and Discover, making it easier for businesses to facilitate payments, reward customers, and improve operational efficiency. Clients include top-tier brands in financial services, e-commerce, retail, and social media, such as DoorDash, Klarna, and Block.

Engineered in California, the Marqeta platform supports a wide range of use cases, from on-demand delivery services to point-of-sale financing. The company generates revenue primarily through processing and ATM fees related to the cards issued on its platform.

Marqeta’s commitment to innovation is evident in its recent achievements and ongoing projects. Continuous enhancements to its API capabilities allow for rapid deployment of new products, maintaining Marqeta’s competitive edge in the industry. For more information, visit www.marqeta.com.

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Marqeta, Inc. (NASDAQ: MQ) reported $67 billion in Total Processing Volume with Net Revenue of $118 million in the first quarter of 2024. Despite the 33% increase in TPV, the Net Revenue saw a 46% decrease primarily due to a change in revenue presentation from the new Cash App contract effective since July 2023. The Gross Profit was $84 million, down 6% year-over-year, resulting in a GAAP Net Loss of $36 million. Adjusted EBITDA was positive $9 million with an 8% margin.

Marqeta highlighted recent expansions and partnerships, including a collaboration with Uber Eats, Klarna, and Rain, as well as the authorization of a $200 million share repurchase program. The company showcased growth and operational efficiencies, emphasizing the broad capabilities of the Marqeta platform.

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Marqeta (NASDAQ: MQ) announced the global expansion of its partnership with Uber Eats into eight new markets, including Canada, Australia, Mexico, Brazil, Colombia, Peru, Chile, and Costa Rica. This expansion showcases Marqeta's platform's global reach and ongoing partnership with Uber, allowing them to launch card products in over 40 markets through a single integration, reducing time-to-market for subsequent launches. The partnership aims to provide Uber with the latest digital payment tools to enhance their services and support growth in new and existing markets.

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Marqeta partners with OakNorth to offer commercial cards in the UK, catering to the demand for better banking tools. OakNorth, a leading UK digital bank, collaborates with Marqeta to provide Business Banking customers with a commercial card, enabling more efficient financial management for small and medium-sized businesses. The partnership aims to bridge the SME funding gap in the UK and empower businesses to navigate economic uncertainties.
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Marqeta and Rain announce a partnership to provide robust earned wage access through embedded finance. Marqeta will power the Rain Card, a branded debit card enabling employers to disburse earned wages seamlessly. The partnership aims to simplify the pay cycle and offer streamlined financial solutions for employees, promoting financial wellness. Over 60% of Americans live paycheck-to-paycheck, highlighting the need for quicker access to wages. Marqeta's early wage access offerings constitute 3% of its total processing volume as of Q4 2023, empowering gig and shift workers. The partnership allows Rain to integrate the Rain Card into its customer experience, expanding offerings into credit card solutions and diverse employee rewards.
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Marqeta, Inc. (MQ) will host a conference call to discuss its first quarter 2024 financial results, led by CEO Simon Khalaf and CFO Mike Milotich. The call will be on May 7, 2024, at 4:30 pm ET, with a press release issued after market close. Investors can access the webcast on Marqeta's investor relations website.
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Marqeta (MQ) achieves a significant milestone by processing over $1 billion in volume in a single day, following its impressive Q4 and Full Year 2023 earnings where it surpassed $200 billion in annual TPV. The company's modern card issuing platform demonstrates scalability and resilience, positioning it as a key player in the embedded finance solutions market.
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Marqeta, Inc. (MQ) reported strong financial results for Q4 and full year 2023 with $62 billion in fourth quarter total processing volume, up 33% YoY, and $119 million in net revenue. Annual TPV was $222 billion, up 34%, generating $676 million in revenue. Despite a 42% decrease in Q4 net revenue due to the Cash App contract, the Company saw a 10% decrease in annual revenue. Marqeta reported a GAAP net loss of $40 million for Q4 and $223 million for the full year 2023.
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Marqeta partners with AffiniPay to launch MyCase Smart Spend, a comprehensive solution for law firms to manage expenses with a LawPay Visa SMB credit card embedded within the platform.
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Scott Shamberg, former global CEO of Publicis performance agency Performics, joins PlusMedia, LLC as President to enhance marketplace presence and drive revenue growth. With a background in digital marketing and experience with Fortune 100 brands, Scott aims to leverage his expertise in online and offline marketing to position PlusMedia as a leading omnichannel marketing performance firm.
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Marqeta (MQ) partners with Internet Travel Solutions (ITS) to launch a customizable Travel & Expense credit card platform for mid-sized businesses. With the rebound of business travel post-pandemic and the increasing demand for digital services, Marqeta's credit card solutions aim to streamline expenses and enhance operational efficiency for corporate clients.
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FAQ

What is the current stock price of Marqeta (MQ)?

The current stock price of Marqeta (MQ) is $4.05 as of November 22, 2024.

What is the market cap of Marqeta (MQ)?

The market cap of Marqeta (MQ) is approximately 2.0B.

What does Marqeta do?

Marqeta provides a platform for issuing digital, physical, and tokenized payment cards, enabling rapid deployment of innovative payment solutions.

When was Marqeta founded?

Marqeta was founded in 2010.

Where is Marqeta headquartered?

Marqeta is headquartered in Oakland, California.

What is unique about Marqeta's platform?

Marqeta's platform is built with no legacy infrastructure and includes fully documented open APIs, providing enormous control over transaction authorization.

Who are some of Marqeta's clients?

Leading brands like DoorDash, Klarna, and Block use Marqeta's platform.

How does Marqeta generate revenue?

Marqeta primarily earns through processing and ATM fees for the cards issued on its platform.

What payment networks does Marqeta integrate with?

Marqeta integrates with major networks such as Visa, MasterCard, and Discover.

What industries benefit from Marqeta's platform?

Financial services, e-commerce, retail, and social media brands benefit from Marqeta's platform.

Where can I learn more about Marqeta?

You can learn more about Marqeta at their official website: www.marqeta.com.

What kind of payment options does Marqeta support?

Marqeta supports digital, physical, and tokenized payment options.

Marqeta, Inc.

Nasdaq:MQ

MQ Rankings

MQ Stock Data

2.01B
430.36M
4.71%
81.96%
3.05%
Software - Infrastructure
Services-prepackaged Software
Link
United States of America
OAKLAND