Business
Marqeta Reports Strong Fourth Quarter and Full Year 2021 Financial Results, Highlighting Accelerated Growth Rates
The global modern card issuing platform generated $155 million in fourth quarter net revenue, up 76 percent year-over-year, alongside $33 billion in fourth
About this update from Marqeta, Inc.
[{"type":"text","content":"\nThe global modern card issuing platform generated $155 million in fourth quarter net revenue, up 76 percent year-over-year, alongside $33 billion in fourth quarter total processing volume, also a 76 percent increase.\n\nThe company also generated $517 million in annual revenue, up 78 percent from 2020, with annual total processing volume up 85 percent year-over-year to $111 billion.\n\n OAKLAND, Calif.--(BUSINESS WIRE)--\nMarqeta, Inc. (NASDAQ: MQ), the global modern card issuing platform, today reported financial results for the fourth quarter and full year ended December 31, 2021.\n\nTotal processing volume (TPV) was $33 billion for the quarter and net revenue was $155 million, both increased 76% from the same quarter of 2020. These Q4 2021 year-over-year growth rates for both TPV and net revenue accelerated compared with Q3. The company saw gross profit of $76 million during the quarter, up 108% year-over-year. GAAP net loss was ($37 million) and Adjusted EBITDA was $1 million for the quarter ended December 31, 2021.\n\nFor the full 2021 financial year, TPV was 111 billion and net revenue was $517 million. This represented an annual increase of 85% and 78%, respectively, from 2020 results. The company saw gross profit of $232 million during the year, up 97% from the year prior. GAAP net loss of ($164 million) and Adjusted EBITDA loss was ($13 million) for the year ended December 31, 2021.\n\n“Our modern card issuing platform can support cutting edge innovation at massive scale, and our fourth quarter and full-year 2021 results demonstrate that, both in the caliber of new customers we’re attracting to our platform and the growth of our existing customers globally,” said Jason Gardner, Founder and CEO of Marqeta.\n\nMarqeta highlighted several recent business updates that demonstrate its current business momentum:\n\n\nMarqeta crossed a major platform scale milestone in December, with annual TPV crossing $100 billion for 2021, finishing at $111 billion for the year. This represents a 50x increase in TPV since 2017, illustrating the company's ability to provide modern infrastructure that enables fast-growing companies to deliver innovative, high-volume card programs at scale.\n\n\nMarqeta continued to actively grow its modern card issuing platform and the possibilities it can support through expansion into new geographies. It ...