Slide 1: Marqeta Earnings Supplement
Marqeta Earnings Supplement May 7, 2024 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) $67B $62B $57B $54B +33% $50B Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 TPV (in billions) 3 Marqeta Earnings Supplement
Slide 4: Quarterly Net Revenue
Quarterly Net Revenue $231M $217M (46%)1 $119M $118M $109M Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Net Revenue (in millions) 4 1 Includes a 58 percentage point negative growth impact driven by the change in revenue presentation associated with Marqeta Earnings Supplement the Cash App renewal
Slide 5: Gross Profit and Gross Profit Margin
Quarterly Gross Profit and Gross Profit Margin (6%)1 $89M $85M $83M $84M $73M 70% 71% 67% 41% 37% Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Gross Profit (in millions) Gross Profit Margin (%) 5 Marqeta Earnings Supplement 1 Year-over-year contraction is driven by the impact of the Cash App renewal
Slide 6: Non-GAAP Operating Expenses
Quarterly Non-GAAP Operating Expenses 1 $94M $84M $80M (20%) $75M $75M Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Non-GAAP operating expenses (in millions) 6 1 See “Information regarding Non-GAAP Measure” for definition of Non-GAAP Operating Expenses as well as Marqeta Earnings Supplement “Reconciliation of
Slide 7: Quarterly Adjusted EBITDA and Adjusted EBITDA Margin
Quarterly AdjustedNet EBITDA Adjusted EBITDA Margin 1 andQuarterly Revenue $9M $3M $1M ($2M) ($4M) Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Adjusted EBITDA Margin (2%) 0% (2%) 3% 8% Non-GAAP Adjusted EBITDA (in millions) 1 Marqeta Earnings Supplement 7 See “Information regarding Non-GAAP Measure” for defi
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 March 31, June 30, September 30, December 31, March 31, (dollars in thousands) 2023 2023 2023 2023 2024 Net revenue $ 217,343 $ 231,115 $ 108,891 $ 118,822 $ 117,968 Net loss $ (68,801) $ (58,797) $ (54,990) $ (40,376) $ (36,060) Net loss margin (32%) (25%