Marqeta (MQ) Goldman Sachs Communacopia + Technology Conference summary

Market opportunity and growth drivers

• Card processing volume in the U.S. and EU is $15 trillion annually, with only 2% penetrated, leaving significant room for expansion.

• Growth vectors include fintech partnerships, embedded finance, international expansion, and new customer cohorts performing to plan.

• International markets, especially Europe, are accelerating faster than the U.S. due to capped interchange and innovative business models.

• Six customers now process over $1 billion each, with rapid growth from new clients like Trade Republic.

• U.S. and EU customers can seamlessly expand across regions, supported by new offices and program management investments.

Competitive differentiation and platform strengths

• Combines scale and resilience of incumbents with the innovation of challengers, enabling global solutions.

• Investments in program management and regulatory adaptation strengthen the competitive moat.

• Ability to launch customers in multiple countries simultaneously demonstrates global scalability.

Pipeline, bookings, and revenue outlook

• Business trajectory is predictable, with new cohorts expected to contribute $20M in 2024, $50M in 2025, and $150M in 2026.

• Pipeline is growing rapidly, driven by fintech expansion, embedded finance, and credit offerings.

• Recent exclusive five-year deal with Varo Bank highlights platform innovation and partnership alignment.