Marqeta, Inc. (MQ), a leading modern card issuing platform, witnessed a significant pre-market surge of 10.26% on Thursday, February 27, 2025. This soar can be attributed to the company's impressive fourth quarter 2024 financial results and its strategic acquisition announcement.
In the fourth quarter, Marqeta reported a remarkable 29% year-over-year increase in Total Process Volume (TPV) to $80 billion, driving a 14% increase in net revenue to $136 million. Additionally, the company's gross profit grew 18% to $98 million, with an adjusted EBITDA margin of 9%.
A key highlight of the earnings report was Marqeta's announcement of its acquisition of TransactPay, a BIN Sponsorship provider licensed as an E-Money Institution in the UK and European Economic Area. This acquisition is expected to significantly strengthen Marqeta's program management capabilities in Europe, allowing the company to better serve its fintech and embedded finance customers in the region.
Looking ahead, Marqeta provided an optimistic outlook for 2025, forecasting net revenue growth of 16-18% and gross profit growth of 14-16%. Furthermore, the company authorized a new $300 million share repurchase program, demonstrating confidence in its future prospects.
The strong financial performance, strategic acquisition, and positive guidance for 2025 have collectively fueled investor confidence, driving Marqeta's stock price to soar in the pre-market trading session.
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