Marqeta, Inc. Stock Price, News & Analysis

The second annual Gig Payments Report from Branch and Marqeta reveals that 35% of gig workers left full-time jobs for gig opportunities. Over 85% of respondents have increased gig work, with 58% citing inflation as a driving factor. Key motivators include higher pay (67%), scheduling flexibility (60%), and faster payouts (59%). The report emphasizes the need for quicker access to earnings, as 72% rated housing affordability as a top financial concern. The gig worker profile is shifting, with food delivery (50%) being the leading sector.

Marqeta, Inc. (NASDAQ: MQ) will host a conference call on May 11, 2022, at 4:30 pm ET to discuss its first quarter 2022 financial results. The call will be led by CEO Jason Gardner and CFO Mike Milotich, with results announced post-market close. The event will be accessible via its investor relations website, and a replay will be available afterward. Marqeta's platform supports customizable payment cards, leveraging open APIs for flexible card issuing globally.

Marqeta, Inc. (NASDAQ: MQ) reported substantial growth in its Q4 2021 results, with $155 million in net revenue, a 76% increase year-over-year, and $33 billion in total processing volume, also up 76%. Annual revenue climbed to $517 million, a 78% increase, while total processing volume rose to $111 billion (up 85%). Despite a GAAP net loss of $37 million in Q4 and $164 million for the year, gross profit increased significantly, reaching $76 million for Q4 (up 108%) and $232 million for the full year (up 97%). Guidance for Q1 2022 indicates net revenue growth of 48-50%.

Marqeta collaborates with Citi Commercial Cards to enhance payment options through its tokenization technology, allowing corporate clients to provision cards into mobile wallets. This service will be implemented in over 40 countries, supporting the growing demand for digital payments. The global shift towards mobile wallets is evident, with projections indicating they will account for one-third of all POS transactions by 2024. Marqeta aims to strengthen its partnership with Citi, focusing on innovative solutions for seamless and secure payment processing.

Marqeta (NASDAQ: MQ) has partnered with Plaid to enhance ACH transfers, enabling customers to quickly authenticate bank accounts and fund their accounts for immediate spending. This collaboration simplifies the ACH transaction process, allowing users to manage transfers with real-time notifications. The partnership also improves security by minimizing the storage of sensitive information, using tokenization instead. This integration aims to streamline user access to financial services and represents a significant advancement in the modern card issuing landscape.

Marqeta (NASDAQ: MQ) has appointed Mike Milotich as Chief Financial Officer effective February 22, 2022. Milotich joins from Visa with over 20 years of experience in corporate finance.

The company anticipates exceeding prior guidance for net revenue and adjusted EBITDA for Q4 2021, driven by higher processing volumes. However, the preliminary results are subject to financial closing procedures and could change.

Outgoing CFO Tripp Faix will assist with the transition until March 31, 2022.

Marqeta, Inc. (NASDAQ: MQ) will host a conference call and webcast on March 9, 2022, at 4:30 pm ET, to discuss its financial results for the fourth quarter and full year 2021. The call will feature CEO Jason Gardner and CFO Tripp Faix. A press release containing the financial results will be issued after market close that day. Investors can access the call via Marqeta's investor relations website, with a replay available afterwards.

Marqeta, a global card issuing platform, has expanded its services with new certifications in Singapore, Philippines, and Thailand, bringing its total to 39 countries. The company aims to establish Singapore as its Asia Pacific regional hub in 2022, enhancing support for regional fintechs seeking to modernize payment infrastructures. This move reflects Marqeta's strategy to empower clients with innovative, customizable payment solutions powered by open APIs, ultimately facilitating global expansion.

Marqeta (NASDAQ: MQ) has appointed Sunaina Lobo as Chief Human Resources Officer to enhance its People and Culture function globally. Lobo, previously with Navis, brings extensive experience from several global firms, focusing on innovation and inclusivity. CEO Jason Gardner emphasized her potential to foster an exceptional team and improve company culture as Marqeta scales internationally. Recognized as a top workplace, Marqeta is poised for significant growth in 2022 with plans for further global expansion.