Marqeta (MQ) J.P. Morgan 54th Annual Global Technology, Media and Communications Conference summary

Financial performance and guidance

• Achieved 33% TPV growth, 19% net revenue and gross profit growth, and 66% EBITDA growth in Q1, with $8 million net income marking the first quarter of positive net income on a pure operating basis.

• Maintained full-year gross profit guidance despite strong Q1, citing limited new information for the remainder of the year.

• Raised EBITDA and net income guidance for the full year due to Q1 outperformance.

• No significant macroeconomic concerns observed; consumer and SMB spending remains stable across discretionary categories.

Growth drivers and customer expansion

• Buy now, pay later and expense management are leading use cases, growing close to 60% and over 40% respectively, and represent a significant share of TPV.

• New programs launched in the last two years contributed about 10% of Q1 TPV, with new customer volume growing 100% year-over-year.

• Existing top customers are rapidly expanding, with 14 of the top 15 launching new programs and those expansions growing over 200% year-over-year.

• Flexible Credential and product continuum offerings are driving further adoption and expansion.

Product innovation and multinational expansion

• Multinational issuing is a growing trend, with 12 of the top 15 customers operating in multiple countries.

• Product continuum strategy enables offerings between debit and credit, such as secured credit and buy now, pay later in a Flexible Credential format.

• Recent wins include a large neobank rolling out a secured card and a migration from a competitor pairing buy now, pay later with secured credit using Mastercard One credentials.

• Processing for a large U.S. financial institution marks a significant entry point into the traditional banking sector.