Marqeta, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 28, 2024 at 04:14 pm EST
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Marqeta, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 118.82 million compared to USD 203.81 million a year ago. Net loss was USD 40.38 million compared to USD 26.33 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to USD 0.05 a year ago.
For the full year, the company reported sales was USD 676.17 million compared to USD 748.21 million a year ago. Net loss was USD 222.96 million compared to USD 184.78 million a year ago. Basic loss per share from continuing operations was USD 0.42 compared to USD 0.34 a year ago.
Marqeta, Inc. is engaged in providing modern card issuing and payment processing solutions. The Company provides a single, global, cloud-based, open application programming interface (API) platform for modern card issuing and transaction processing. It works with companies in a range of different configurations, such as Managed By Marqeta and Powered By Marqeta. With Managed By Marqeta, the Company provides an issuing bank partner to act as the bank identification number; sponsor for the customerâs card program; manages the customerâs card program on behalf of the issuing bank, and provides a full range of services, including configuring many of the critical resources required by a customerâs production environment. With Powered By Marqeta, it provides payment processing, and assists with certain configuration elements that enable the customer to use the platform independently. It serves customers in multiple industry verticals, including financial services, on-demand services.
MARQETA, INC. 
