Marqeta, Inc. · NASDAQ:MQ
Marqeta — Q1 2023 Earnings Presentation
10 slides from Marqeta's earnings presentation, May 9, 2023
Slide 1: Marqeta Earnings Supplement
Marqeta Earnings Supplement May 9, 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 earnings supplement include, but are not limited to
Slide 3: Quarterly Total Processing Volume (TPV)
Quarterly Total Processing Volume (TPV) $50B $47B $42B +37% $40B $37B Q1 '22 Q2 '22 Q3 '22 Q4 '22 Q1 '23 TPV (in billions) 3 Marqeta Earnings Supplement
Slide 4: Quarterly Net Revenue
Quarterly Net Revenue $217M $204M $187M $192M +31% $166M Q1 '22 Q2 '22 Q3 '22 Q4 '22 Q1 '23 Net Revenue (in millions) 4 Marqeta Earnings Supplement
Slide 5: Quarterly Gross Profit and Gross Profit Margin
Quarterly Gross Profit and Gross Profit Margin $87M $89M $80M $78M +19% $75M 45% 42% 42% 43% 41% Q1 '22 Q2 '22 Q3 '22 Q4 '22 Q1 '23 Gross Profit (in millions) Gross Profit Margin (%) 5 Marqeta Earnings Supplement
Slide 6: Quarterly Non-GAAP Operating Expenses
Quarterly Non-GAAP Operating Expenses 1 $94M $95M $94M $88M +10% $85M Q1 '22 Q2 '22 Q3 '22 Q4 '22 Q1 '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: Net Revenue, Adjusted EBITDA and Adjusted EBITDA Margin
Quarterly Net Revenue, Adjusted EBITDA and Adjusted EBITDA Margin 1 $217M $204M $187M $192M +31% $166M (5%) (4%) (2%) (6%) (7%) Q1 '22 Q2 '22 Q3 '22 Q4 '22 Q1 '23 Adjusted EBITDA ($10M) ($10M) ($14M) ($7M) ($4M) Net Revenue (in millions) Adjusted EBITDA Margin (%) 1 See “Information regarding Non-GA
Slide 8: Q2 Financial 2023 Guidance
Q2 Financial 2023 Guidance Net Revenue Growth 17 - 19% Gross Profit Growth 1 - 3% Adj. EBITDA Margin 1 Negative 4 - 6% 1 See “Information regarding Non-GAAP Measures“ for definition of Adjusted EBITDA as well as 8 “Reconciliation of GAAP to Non-GAAP Measures” for Non-GAAP reconciliation. Marqeta Ear
Slide 9: Information Regarding Non-GAAP Measures
Information Regarding Non-GAAP Measures A reconciliation of Adjusted EBITDA and Non-GAAP operating expenses to the comparable GAAP measure for the second quarter of 2023 is not available due to the challenges and impracticability with estimating some of the items as such items cannot be reasonably p
Slide 10: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures March 31, June 30, September 30, December 31, March 31, (dollars in thousands) 2022 2022 2022 2022 2023 Net revenue $ 166,102 $ 186,678 $ 191,621 $ 203,805 $ 217,343 Net loss $ (60,598) $ (44,688) $ (53,168) $ (26,326) $ (68,801) Net loss margin (36%) (24%