Slide 1: Marqeta Earnings Supplement
Marqeta Earnings Supplement February 28, 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 earnings supplement include, but are not limited to
Slide 3: Quarterly Total Processing Volume (TPV)
Quarterly Total Processing Volume (TPV) $62B $57B $54B $50B +33% $47B Q4 '22 Q1 '23 Q2 '23 Q3 '23 Q4 '23 TPV (in billions) 3 Marqeta Earnings Supplement
Slide 4: Quarterly Net Revenue
Quarterly Net Revenue $231M $217M $204M (42%)1 $119M $109M Q4 '22 Q1 '23 Q2 '23 Q3 '23 Q4 '23 Net Revenue (in millions) 1 Includes a 59 percentage point negative growth impact driven by the change in revenue presentation associated with the Cash App renewal 4 Marqeta Earnings Supplement
Slide 5: Gross Profit and Gross Profit Margin
Quarterly Gross Profit and Gross Profit Margin $87M $89M (4)%1 $85M $83M $73M 70% 67% 43% 41% 37% Q4 '22 Q1 '23 Q2 '23 Q3 '23 Q4 '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 $95M $94M $84M (16%) $80M $75M Q4 '22 Q1 '23 Q2 '23 Q3 '23 Q4 '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 Adjusted EBITDA and Adjusted EBITDA Margin
Quarterly AdjustedNet EBITDA Adjusted EBITDA Margin 1 andQuarterly Revenue $3M $1M ($2M) ($4M) ($7M) Q4 '22 Q1 '23 Q2 '23 Q3 '23 Q4 '23 Adjusted EBITDA Margin (4%) (2%) 0% (2%) 3% Non-GAAP Adjusted EBITDA (in millions) 1 See “Information regarding Non-GAAP Measure” for definition of Adjusted EBITDA
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 Three Months Ended, December 31, March 31, June 30, September 30, December 31, (dollars in thousands) 2022 2023 2023 2023 2023 Net revenue $ 203,805 $ 217,343 $ 231,115 $ 108,891 $ 118,822 Net loss $ (26,326) $ (68,800) $ (58,797) $ (54,990) $ (40,376) Net