Marqeta, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year 2023
November 07, 2023 at 04:30 pm
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Marqeta, Inc. provided earnings guidance for the fourth quarter and full year 2023. For the quarter, Net revenue is expected to contract between 45% and 47%.
For the year, Net revenue is expected to contract by low double-digit percentage with an approximately high 30s percentage point decline due to the Cash App renewal, mostly due to the change in accounting treatment.
Marqeta, Inc. is engaged in providing modern card issuing and payment processing solutions. The Company provides a single, global, cloud-based, open application programming interface (API) platform for modern card issuing and transaction processing. It works with companies in a range of different configurations, such as Managed By Marqeta and Powered By Marqeta. With Managed By Marqeta, the Company provides an issuing bank partner to act as the bank identification number; sponsor for the customerâs card program; manages the customerâs card program on behalf of the issuing bank, and provides a full range of services, including configuring many of the critical resources required by a customerâs production environment. With Powered By Marqeta, it provides payment processing, and assists with certain configuration elements that enable the customer to use the platform independently. It serves customers in multiple industry verticals, including financial services, on-demand services.
MARQETA, INC. 
