Marqeta Files Q3 2024 10-Q

TL;DR

Marqeta's Q3 2024 10-Q is in: check financials for latest performance.

AI Summary

Marqeta, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial figures and disclosures relevant to investors are presented.

Why It Matters

This filing provides investors with the latest financial performance data for Marqeta, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific content can reveal significant financial health indicators or operational changes that may impact risk.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 2024-11-04 — Filing Date (The date the report was officially submitted to the SEC.)

Key Players & Entities

• Marqeta, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-04 (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-20240930.htm (10-Q) — 1382KB
• exhibit311q32024.htm (EX-31.1) — 11KB
• exhibit312q32024.htm (EX-31.2) — 11KB
• exhibit321q32024.htm (EX-32.1) — 5KB
• exhibit322q32024.htm (EX-32.2) — 5KB
• 0001628280-24-045055.txt ( ) — 6657KB
• mq-20240930.xsd (EX-101.SCH) — 37KB
• mq-20240930_cal.xml (EX-101.CAL) — 81KB
• mq-20240930_def.xml (EX-101.DEF) — 229KB
• mq-20240930_lab.xml (EX-101.LAB) — 582KB
• mq-20240930_pre.xml (EX-101.PRE) — 406KB
• mq-20240930_htm.xml (XML) — 885KB

- 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) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 886,417 $ 980,972 Restricted cash 8,500 8,500 Short-term investments 217,569 268,724 Accounts receivable, net 26,373 19,540 Settlements receivable, net 11,817 29,922 Network incentives receivable 46,667 53,807 Prepaid expenses and other current assets 23,821 27,233 Total current assets 1,221,164 1,388,698 Operating lease right-of-use assets, net 4,894 6,488 Property and equipment, net 35,791 18,764 Intangible assets, net 31,238 35,631 Goodwill 123,523 123,523 Other assets 19,226 16,587 Total assets $ 1,435,836 $ 1,589,691 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 1,026 $ 1,420 Revenue share payable 167,081 173,645 Accrued expenses and other current liabilities 165,466 161,514 Total current liabilities 333,573 336,579 Operating lease liabilities, net of current portion 2,082 5,126 Other liabilities 4,523 4,591 Total liabilities 340,178 346,296 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 September 30, 2024 and December 31, 2023, respectively — — Common stock, $ 0.0001 par value: 1,500,000 and 1,500,000 Class A shares authorized, 467,647 and 465,985 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively. 600,000 and 600,000 Class B shares authorized, 36,503 and 54,358 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 50 52 Additional paid-in capital 1,865,565 2,067,776 Accumulated other comprehensive income 833 762 Accumulated deficit ( 770,790 ) ( 825,195 ) Total stockholders' equity 1,095,658 1,243,395 Total liabilities and stockholders' equity $ 1,435,836 $ 1,

View Full Filing

View this 10-Q filing on SEC EDGAR