Marqeta Files Q2 2024 10-Q

TL;DR

**Marqeta's Q2 10-Q is in! Check financials for latest performance.**

AI Summary

Marqeta, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial data and disclosures relevant to investors are presented, reflecting the company's ongoing business activities and financial position.

Why It Matters

This filing provides investors with the latest financial performance data for Marqeta, Inc., crucial for understanding the company's health and making informed investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures for public companies, but the specific financial details and any disclosed risks within the report can significantly impact investor perception.

Key Players & Entities

• Marqeta, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240807 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — which registered Class A common stock, $0.0001 par value per share MQ The Nasdaq Stock

Filing Documents

• mq-20240630.htm (10-Q) — 1316KB
• exhibit101-q2202410xq.htm (EX-10.1) — 15KB
• exhibit311q22024.htm (EX-31.1) — 11KB
• exhibit312q22024.htm (EX-31.2) — 11KB
• exhibit321q22024.htm (EX-32.1) — 5KB
• exhibit322q22024.htm (EX-32.2) — 5KB
• 0001628280-24-035709.txt ( ) — 6508KB
• mq-20240630.xsd (EX-101.SCH) — 36KB
• mq-20240630_cal.xml (EX-101.CAL) — 79KB
• mq-20240630_def.xml (EX-101.DEF) — 228KB
• mq-20240630_lab.xml (EX-101.LAB) — 574KB
• mq-20240630_pre.xml (EX-101.PRE) — 402KB
• mq-20240630_htm.xml (XML) — 862KB

- Financial Information

Part I - Financial Information Item 1. Condensed Consolidated Financial Statements: 5 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) 6 Condensed Consolidated Statements of Stockholders' Equity 7 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 11 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.

Controls and Procedures

Controls and Procedures 39

- Other Information

Part II - Other Information Item 1.

Legal Proceedings

Legal Proceedings 41 Item 1A.

Risk Factors

Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 3. Defaults Upon Senior Securities 42 Item 4. Mine Safety Disclosures 42 Item 5. Other Information 42 Item 6. Exhibits 43

Signatures

Signatures 44 2 Note About Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws, which are statements that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "shall," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about: uncertainties related to U.S. and global economies and the effect on our business, results of operations, and financial condition; our future financial performance, including our net revenue, costs of revenue, gross profit, and operating expenses and our ability to achieve future profitability; the anticipated accounting treatment of our customer agreements and the risk that such accounting treatment may be subject to further changes or developments; our ability to scale new products and services, such as our credit card platform; our ability to effectively manage or sustain our growth and expand our operations; our ability to enhance our platform and services and develop and expand our capabilities; our ability to further attract, retain, diversify, and expand our customer base; our ability to maintain our relationships with Issuing Banks and Card Networks; our strategies, plans, objectives, and goals; our plans to expand internationally; our ability to compete in existing and new markets and offerings; our estimated market opportunity; economic and industry trend

- Financial Information

PART I - Financial Information

Financial Statements

Item 1. Financial Statements Marqeta, Inc. Condensed Consolidated Balance Sheets (in thousands, except per share amounts) (unaudited) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 924,730 $ 980,972 Restricted cash 8,500 8,500 Short-term investments 228,833 268,724 Accounts receivable, net 25,956 19,540 Settlements receivable, net 27,765 29,922 Network incentives receivable 34,168 53,807 Prepaid expenses and other current assets 22,949 27,233 Total current assets 1,272,901 1,388,698 Operating lease right-of-use assets, net 5,653 6,488 Property and equipment, net 33,011 18,764 Intangible assets, net 32,702 35,631 Goodwill 123,523 123,523 Other assets 20,493 16,587 Total assets $ 1,488,283 $ 1,589,691 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 3,685 $ 1,420 Revenue share payable 176,425 173,645 Accrued expenses and other current liabilities 157,736 161,514 Total current liabilities 337,846 336,579 Operating lease liabilities, net of current portion 3,254 5,126 Other liabilities 4,808 4,591 Total liabilities 345,908 346,296 Commitments and contingencies (Note 8) Stockholders' equity: Preferred stock, $ 0.0001 par value; 100,000 and 100,000 shares authorized, no shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively — — Common stock, $ 0.0001 par value: 1,500,000 and 1,500,000 Class A shares authorized, 474,230 and 465,985 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. 600,000 and 600,000 Class B shares authorized, 36,518 and 54,358 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 51 52 Additional paid-in capital 1,885,744 2,067,776 Accumulated other comprehensive (loss) income ( 1,273 ) 762 Accumulated deficit ( 742,147 ) ( 825,195 ) Total stockholders' equity 1,142,375 1,243,395 Total liabilities and stockholders' equity $ 1,488,283 $ 1,589,691

View Full Filing

View this 10-Q filing on SEC EDGAR