Marqeta, Inc. · NASDAQ:MQ
Marqeta — Q3 2023 Earnings Presentation
9 slides from Marqeta's earnings presentation, Nov 7, 2023
Slide 1: Marqeta Earnings Supplement
Marqeta Earnings Supplement November 7, 2023 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement This earnings supplement contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, stat
Slide 3: Quarterly Total Processing Volume (TPV)
Quarterly Total Processing Volume (TPV) $57B $54B $50B $47B +33% $42B Q3 '22 Q4 '22 Q1 '23 Q2 '23 Q3 '23 TPV (in billions) 3 Marqeta Earnings Supplement
Slide 4: Quarterly Net Revenue
Quarterly Net Revenue $231M $217M $204M $192M (43%)1 $109M Q3 '22 Q4 '22 Q1 '23 Q2 '23 Q3 '23 Net Revenue (in millions) 1 Includes a 60 percentage point negative growth impact driven by the change in revenue presentation associated with the Cash App renewal 4 Marqeta Earnings Supplement
Slide 5: Quarterly Gross Profit and Gross Profit Margin
Quarterly Gross Profit and Gross Profit Margin $87M $89M $85M $80M $73M (9%)1 67% 42% 43% 41% 37% Q3 '22 Q4 '22 Q1 '23 Q2 '23 Q3 '23 Gross Profit (in millions) Gross Profit Margin (%) 1 Year-over-year contraction is driven by the impact of the Cash App renewal 5 Marqeta Earnings Supplement
Slide 6: Quarterly Non-GAAP Operating Expenses
Quarterly Non-GAAP Operating Expenses 1 $94M $95M $94M $84M (20%) $75M Q3 '22 Q4 '22 Q1 '23 Q2 '23 Q3 '23 Non-GAAP operating expenses (in millions) 1 See “Information regarding Non-GAAP Measure” for definition of Non-GAAP Operating Expenses as well as 6 Marqeta Earnings Supplement “Reconciliation of
Slide 7: Quarterly Net Revenue, Adjusted EBITDA and Adjusted EBITDA Margin
Quarterly Net Revenue, Adjusted EBITDA and Adjusted EBITDA Margin 1 $231M $217M $204M $192M (43%)2 $109M (2%) 0% (2%) (7%) (4%) Q3 '22 Q4 '22 Q1 '23 Q2 '23 Q3 '23 Adjusted EBITDA ($14M) ($7M) ($4M) $1M ($2M) Net Revenue (in millions) Adjusted EBITDA Margin (%) 1 See “Information regarding Non-GAAP M
Slide 8: Information Regarding Non-GAAP Measures
Information Regarding Non-GAAP Measures In addition to the financial measures prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), this earnings supplement contains certain non-GAAP financial measures. Marqeta considers Adjusted EBITDA, Adjusted EBITDA
Slide 9: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures September 30, December 31, March 31, June 30, September 30, (dollars in thousands) 2022 2022 2023 2023 2023 Net revenue $ 191,621 $ 203,805 $ 217,343 $ 231,115 $ 108,891 Net loss $ (53,168) $ (26,326) $ (68,801) $ (58,797) $ (54,990) Net loss margin (28%)