The global as a lot as date card issuing platform generated $155 million in fourth quarter receive income, up 76 percent 365 days-over-365 days, alongside $33 billion in fourth quarter complete processing quantity, additionally a 76 percent elevate.

The company additionally generated $517 million in annual income, up 78 percent from 2020, with annual complete processing quantity up 85 percent 365 days-over-365 days to $111 billion.

OAKLAND, Calif., March 09, 2022–(BUSINESS WIRE)–Marqeta, Inc. (NASDAQ: MQ), the worldwide as a lot as date card issuing platform, on the present time reported monetary results for the fourth quarter and plump 365 days ended December 31, 2021.

Total processing quantity (TPV) turned into $33 billion for the quarter and receive income turned into $155 million, each and each elevated 76% from the same quarter of 2020. These Q4 2021 365 days-over-365 days growth rates for each and each TPV and receive income accelerated when put next with Q3. The company noticed snide income of $76 million at some level of the quarter, up 108% 365 days-over-365 days. GAAP receive loss turned into ($37 million) and Adjusted EBITDA turned into $1 million for the quarter ended December 31, 2021.

For the plump 2021 monetary 365 days, TPV turned into 111 billion and receive income turned into $517 million. This represented an annual elevate of 85% and 78%, respectively, from 2020 results. The company noticed snide income of $232 million at some level of the 365 days, up 97% from the 365 days prior. GAAP receive loss of ($164 million) and Adjusted EBITDA loss turned into ($13 million) for the 365 days ended December 31, 2021.

“Our as a lot as date card issuing platform can support slicing edge innovation at huge scale, and our fourth quarter and plump-365 days 2021 results impress that, each and each within the caliber of unusual customers we’re attracting to our platform and the growth of our existing customers globally,” acknowledged Jason Gardner, Founder and CEO of Marqeta.

Marqeta highlighted a complete lot of most modern industry updates that impress its recent industry momentum:

• Marqeta crossed a main platform scale milestone in December, with annual TPV crossing $100 billion for 2021, finishing at $111 billion for the 365 days. This represents a 50x elevate in TPV since 2017, illustrating the corporate’s ability to forestall to date infrastructure that allows mercurial-rising firms to lift innovative, high-quantity card programs at scale.

• Marqeta persevered to actively develop its as a lot as date card issuing platform and the potentialities it will support via expansion into unusual geographies. It launched unusual platform certifications in Singapore, Thailand, and Philippines, increasing the worldwide reach of its as a lot as date card issuing platform to 39 international locations internationally.

• Marqeta launched a unusual partnership with Citi Industrial Playing cards, who will exercise Marqeta’s industry-first tokenization-as-a-service solution at some level of extra than 40 markets globally. Marqeta’s as a lot as date card issuing platform will integrate with Citi’s existing systems and allow Citi’s global commercial cardholder sinful to seamlessly provision company plastic cards as successfully as digital cards into mobile wallets.

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• Marqeta supported the worldwide expansion and persevered growth of its customers. Alongside its support for Klarna’s industry in North The usa and Asia Pacific, Marqeta expanded its partnership with Klarna into 13 unusual European markets. Marqeta additionally launched that it had powered the originate of the Sq. Card in Canada, with Marqeta’s global footprint helping to rapid scale a unusual card program into an international market.

• Marqeta launched a partnership with Plaid to permit customers to seamlessly and securely authenticate their bank accounts and fund their accounts to energy extra quick spending. Thru this partnership, Marqeta customer’s cardholders will most likely be ready to extra without wretchedness initiate ACH transactions, verify and hyperlink accounts and receive exact-time account notifications.

Financial and Operating Highlights

Fourth Quarter 2021 Financial Results

• TPV elevated by 76% 365 days-over-365 days, from $19 billion for the quarter ended December 31, 2020, to $33 billion for the quarter ended December 31, 2021.

• Get hang of income elevated by $67 million, or 76% 365 days-over-365 days, primarily pushed by greater TPV from existing huge customers and persevered growth in complete processing quantity from each and each our Digital Banking and Exhaust-Now-Pay-Later customers.

• Putrid income elevated by 108% 365 days-over-365 days to $76 million. Putrid margin elevated from 41% at some level of the quarter ended December 31, 2020, to 49% at some level of the quarter ended December 31, 2021.

• Get hang of loss elevated by $23 million, or 167%, 365 days-over-365 days to ($37 million), primarily because of our elevate in compensation, advantages and technology costs as we persevered our funding in our folks and platform, partly offset by our elevate in snide income.

• Adjusted EBITDA within the fourth quarter of 2021 turned into $1 million, an growth of $4 million 365 days-over-365 days.

Rotund Year 2021 Financial Results

• TPV elevated by 85% 365 days-over-365 days, from $60 billion in 2020, to $111 billion in 2021.

• Get hang of income elevated by $227 million, or 78% 365 days-over-365 days, primarily pushed by greater TPV from existing huge customers and persevered growth in complete processing quantity from each and each our Digital Banking and Exhaust-Now-Pay-Later customers.

• Putrid income elevated by $114 million, or 97% 365 days-over-365 days. Putrid margin elevated from 41% at some level of the 365 days ended December 31, 2020, to 45% at some level of the 365 days ended December 31, 2021.

• Get hang of loss elevated by $116 million, or 244%, 365 days-over-365 days to ($164 million).

• Adjusted EBITDA for the 365 days ended December 31, 2021 turned into ($13 million), an growth of $3 million 365 days-over-365 days.

Financial Steering

The next summarizes Marqeta’s guidance for the principle quarter of 2022:

Convention Name

Marqeta will host a stay convention name on the present time at 1: 30 p.m. Pacific time (4: 30 p.m. Eastern time). To be half of the name, please dial-in 10 minutes upfront: toll-free at 1-877-407-4018 or order at 1-201-689-8471. The convention name will additionally be accessible stay by capability of webcast on-line at http://traders.marqeta.com.

The mobile phone replay dial-in numbers are 1-844-512-2921 and 1-412-317-6671 and may per chance per chance well per chance silent be accessible until March 23, 2022, 5: 00 p.m. Pacific time (8: 00 p.m. Eastern time). The affirmation code for the replay is 13721145.

Forward-Trying Statements

This press liberate comprises “forward-looking out statements” within the that suggests of the “reliable harbor” provisions of the Personal Securities Litigation Reform Act of 1995. Forward-looking out statements expressed or implied in this press liberate embody, however have to not tiny to, statements relating to to Marqeta’s guidance for the quarter ending March 31, 2022; statements referring to Marqeta’s industry plans, industry approach and the persevered success and growth of our customers; expectations referring to Marqeta’s ability to address well-known global opportunities; statements referring to Marqeta’s partnerships and product capabilities; and statements made by Marqeta’ Founder and CEO. Reliable results may per chance per chance well per chance fluctuate materially from the expectations contained in these statements attributable to dangers and uncertainties, at the side of, however not tiny to, the next: the enact of uncertainties connected to the worldwide COVID-19 pandemic on U.S. and global economies, our industry, results of operations, monetary situation, quiz for our platform, sales cycles and customer retention; the probability that Marqeta is unable to extra appeal to, remove, diversify, and elevate its customer sinful; the probability that Marqeta is unable to pressure elevated TPV on its platform; the probability that patrons and customers is not going to see the advantages of Marqeta’s merchandise as Marqeta expects; the probability that Marqeta’s technology platform, at the side of hosted solutions, attain not operate as meant ensuing in intention outages; the probability that Marqeta will most likely be unable to realize the associated rate construction that Marqeta currently expects; the probability that Marqeta’s solution is not going to realize the anticipated market acceptance; the probability that competitors may per chance per chance well per chance lower anticipated quiz for Marqeta’s products and services; the probability that changes within the regulatory panorama adversely impacts the snide interchange or completely different income Marqeta earns or adversely impacts the bank and network costs Marqeta incurs; and the probability that Marqeta may per chance per chance well per chance be discipline to extra dangers similar to currency fluctuations attributable to its international industry actions. Detailed knowledge about these dangers and completely different factors that may per chance per chance well per chance doubtlessly possess an trace on Marqeta’s industry, monetary situation and results of operations are incorporated within the “Threat Elements” disclosed in Marqeta’s Quarterly Document on Manufacture 10-Q for the quarterly period ended September 30, 2021, as such risk factors may per chance per chance well per chance be updated infrequently in Marqeta’s periodic filings with the SEC, accessible at www.sec.gov and Marqeta’s websites at http://traders.marqeta.com

The forward-looking out statements in this press liberate are in accordance to knowledge accessible to Marqeta as of the date hereof. Marqeta disclaims any responsibility to update any forward-looking out statements, as a change of as required by regulations.

Disclosure Data

Merchants and others may per chance per chance well per chance silent show mask that Marqeta publicizes discipline cloth monetary knowledge to its traders the utilization of its investor family websites, SEC filings, press releases, public convention calls and webcasts. Marqeta additionally makes exercise of social media to keep up a correspondence with its customers and the general public about Marqeta, its merchandise and products and services and completely different matters relating to to its industry and market. It is miles likely that the traipse within the park Marqeta posts on social media would be deemed to be discipline cloth knowledge. Due to the this reality, Marqeta encourages traders, the media, and others attracted to Marqeta to learn referring to the traipse within the park we put up on social media channels at the side of the Marqeta Twitter feed (@Marqeta), the Marqeta Instagram page (@lifeatmarqeta), the Marqeta Facebook page, and the Marqeta LinkedIn page. These social media channels may per chance per chance well per chance be updated infrequently.

Issue of Non-GAAP Financial Measures

Reconciliations of non-GAAP monetary measures to the most straight similar monetary results as obvious primarily based totally on GAAP are incorporated on the end of this press liberate following the accompanying monetary knowledge. For a description of these non-GAAP monetary measures, at the side of the causes administration makes exercise of every and each measure, please survey the portion of the tables titled “Data With regards to Non-GAAP Financial Measures”.

About Marqeta, Inc.

Marqeta’s as a lot as date card issuing platform empowers its customers to plan personalized and innovative price cards. Marqeta’s as a lot as date structure presents its customers the ability to plan extra configurable and versatile price experiences, accelerating time-to-market and democratizing access to card issuing technology. Marqeta’s delivery APIs provide quick access to extremely scalable, cloud-primarily based totally price infrastructure that allows customers to originate and arrange their very possess card programs, discipline cards and authorize and determine price transactions. Marqeta is headquartered in Oakland, California and is certified to operate in 39 international locations globally.

Marqeta® is a registered trademark of Marqeta, Inc.

Marqeta, Inc.
Reconciliation of GAAP to NON-GAAP Measures
(in hundreds)

Data With regards to Non-GAAP Measures

To boot to the monetary measures ready primarily based totally on on the full accredited accounting principles within the united states (“GAAP”), this press liberate comprises obvious non-GAAP monetary measures. Marqeta considers Adjusted EBITDA and Adjusted EBITDA Margin as supplemental measures of the corporate’s performance which would be not required by, nor offered primarily based totally on GAAP.

We clarify Adjusted EBITDA as receive profits (loss) adjusted to exclude depreciation and amortization; portion-primarily based totally compensation expense; payroll tax connected to portion-primarily based totally compensation; upright, monetary, and tax due diligence costs connected to ability acquisitions; profits tax expense (income); and completely different expense (profits) receive, which includes changes within the generous cost of redeemable convertible most celebrated stock warrant liabilities (for sessions ahead of the IPO), realized foreign currency echange gains and losses, hobby profits from our marketable securities, and impairment of fairness capability investments or completely different monetary devices. We factor in that Adjusted EBITDA is a compulsory measure of operating performance because it permits administration and our board of directors to take into consideration and compare our core operating results, at the side of our operating efficiencies, from period to period. Additionally, we use Adjusted EBITDA as an input into our calculation of obvious annual worker bonus plans.

Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by receive income. This measure is outmoded by administration and our board of directors to take into consideration our operating efficiency.

Adjusted EBITDA and Adjusted EBITDA Margin may per chance per chance well per chance silent not be idea about in isolation, or construed as a change to receive loss, or any completely different performance measures derived primarily based totally on GAAP, or as a change to money accelerate from operating actions or as a measure of the corporate’s liquidity. To boot, completely different firms may per chance per chance well per chance calculate Adjusted EBITDA differently than Marqeta does, which limits its usefulness in comparing Marqeta’s monetary results with those of completely different firms.

The next table reveals Marqeta’s GAAP results reconciled to non-GAAP results incorporated in this liberate:

A reconciliation of Adjusted EBITDA to the similar GAAP measure for the principle quarter of 2022 is not accessible attributable to the challenges and impracticability with estimating one of the most most objects as such objects can’t be reasonably predicted and may per chance per chance well per chance be well-known. Due to the those challenges, reconciliations of such forward-looking out non-GAAP monetary measures have to not accessible without unreasonable effort.

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Contacts

IR Contact: Marqeta Investor Relatives, IR@marqeta.com