Business
Marqeta Reports First Quarter 2025 Financial Results
The global modern card issuer reported Total Processing Volume growth of 27% and Gross Profit growth of 17% in the first quarter of 2025. OAKLAND,
About this update from Marqeta, Inc.
[{"type":"text","content":"\nThe global modern card issuer reported Total Processing Volume growth of 27% and Gross Profit growth of 17% in the first quarter of 2025.\n\n OAKLAND, Calif.--(BUSINESS WIRE)--\nMarqeta, Inc. (NASDAQ: MQ), the global modern card issuing platform, today reported financial results for the first quarter ended March 31, 2025.\n\nThe Company reported Total Processing Volume (TPV) of $84 billion, representing a year-over-year increase of 27%. The Company reported Net Revenue of $139 million and Gross Profit of $99 million, representing increases of 18% and 17%, respectively, year-over-year. GAAP Net Loss for the quarter was $8 million and Adjusted EBITDA was $20 million.\n\n“Our Q1 results demonstrate our ability to execute our growth plans while simultaneously increasing our level of profitability,” said Mike Milotich, Interim CEO and CFO of Marqeta. “We continue to expand our customer portfolio across a diverse set of use cases and geographies, exhibiting our payments industry leadership and our growing track record migrating programs to our modern platform.”\n\nMarqeta highlighted several recent business updates that demonstrate its current business momentum:\n\n\nMarqeta announced it is in the process of migrating the Perpay Credit Card, a leading unsecured credit card designed to help people build or improve their credit by automating payments directly from a paycheck. Perpay selected Marqeta for its speed, flexibility and scale, to help unlock immediate spending power for more consumers and help them get the most out of every paycheck.\n\n\n\nMarqeta has migrated and launched the Bitpanda Card, a debit card that supports cryptocurrencies and fiat currencies, enabling users to spend their digital assets in everyday transactions. This is Marqeta's first live program in 2025 providing program management services in Europe. Bitpanda chose Marqeta due to its established leadership with the cryptocurrency card use case. The Bitpanda Card was launched simultaneously across 26 European countries and 10 currencies.\n\n\nOperating Highlights\n\n\n\nIn thousands, except percentages and per share data. % change is calculated over the comparable prior-year period (unaudited)\n\n\n\nThree Months Ended March 31,\n\n\n\n \n\n\n\n%\n\n\nChange\n\n\n\n \n\n\n\n\n\n2025\n\n\n\n \n\n\n\n2024\n\n\n\n \n\n\n\n \n\n\n\n\n\nFinancial metrics:\n\n\n\n...