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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 reports Q1 2023 financial results, with total purchase volume crossing $50 billion, a $200 million share repurchase program, and expected annual expense reductions of $40-45 million. Net revenue increased by 31% YoY to $217 million, gross profit increased by 19% YoY to $89 million, and GAAP net loss was $69 million. Marqeta highlights its focus on embedded finance and recent business partnerships. The company plans to reduce operating expenses and aims for profitability. Guidance for Q2 2023 includes net revenue growth of 17-19% and gross profit growth of 1-3%.
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Marqeta (NASDAQ: MQ) and Branch released their third annual Gig Payments Report, revealing that gig work is increasingly relied upon as a primary income source due to rising inflation. The report, based on a survey of over 1,000 gig workers, found that 61% now rely on gig income, up from 21% in 2021. Economic instability has led 49% of workers to consider leaving traditional jobs for gig opportunities. Inflation pressures are significant, with 63% of respondents taking up additional work due to rising costs in essentials like gas and groceries. Speed of payment is crucial, as 79% would prefer instant payment options. The report highlights a shift towards digital financial services, with 65% of gig workers favoring mobile wallets.

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Marqeta, Inc. (NASDAQ: MQ), a leader in modern card issuing solutions, will hold a conference call on May 9, 2023, at 4:30 PM ET to discuss its first quarter 2023 financial results. CEO Simon Khalaf and CFO Mike Milotich will lead the call.

A press release detailing the financial outcomes will be distributed after market closure on the same day. Investors can listen to the live webcast on Marqeta's investor relations website, with a replay available afterward. Marqeta's innovative platform facilitates customizable payment card solutions and operates in 40 countries globally, leveraging open APIs to enhance payment experiences.

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Marqeta (NASDAQ: MQ) reports over 100% growth in processing volumes for accelerated wage access from Q3 to Q4 2022. The company partners with WorkWhile to enable workers to access wages instantly via a debit card, enhancing financial well-being amidst inflation and credit challenges. This service allows workers to bypass traditional pay cycles, providing immediate earnings access. As a result, the service may help mitigate financial burdens for hourly workers, with a potential positive impact on Marqeta's market position.

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Marqeta has partnered with Stables to launch a new prepaid card enabling users to convert stablecoins into fiat currency. The card, powered by Mastercard, allows spending at any location accepting Mastercard globally. Notably, a 2022 survey revealed that 30% of Australians own cryptocurrency, with 82% expressing interest in using it like cash. Marqeta’s Just-in-Time funding features empower users to seamlessly integrate their stablecoin wallets for everyday purchases, responding to growing demand for flexible payment solutions in the digital asset space.

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Marqeta reported strong financial results for Q4 and the full year 2022. Total processing volume (TPV) reached $47 billion, a 41% increase year-over-year, with net revenue hitting $204 million, up 31%. For the full year, TPV rose 50% to $166 billion, and annual revenue increased 45% to $748 million. Gross profit for Q4 stood at $87 million, a 15% rise, while the GAAP net loss was $26 million. The company announced Simon Khalaf as the new CEO and completed the acquisition of Power Finance Inc. for enhanced credit card capabilities.

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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