On March 09, Marqeta Inc. (MQ) declared its financial results for Q4 and fiscal 2021. Consequently, the stock advanced further in the after-hours on Wednesday. The company had also announced a new partnership with Citi Commercial Cards earlier this morning.
The partnership news had the stock on a bullish roll in the regular session as the investors looked forward to the earnings. During the regular session, the stock was able to add a good 10.07% at a volume of 12.23 million shares. The volume remained above the average at 168%. At the close of the regular trading, MQ had a price of $10.71 per share. Following the earnings, the stock continued to rise in the after-hours as it increased by a further 13.26%. Hence, the stock was trading at $12.13 per share in the after-hours on Wednesday. The session saw an active volume of 2.44 million shares.
The digital payment technology solutions provider, Marqeta Inc. was founded in 2010. The Oakland-based company has a market capitalization of $5.26 billion. Currently, the company has 232.49 million shares outstanding in the market. With a loss of 37.62% year to date, MQ has declined by 7.51% in the past five days.
MQ’s 2021 Financial Results
Revenue
In Q4 2021, the company’s revenue grew by 76% YOY to $155.4 million while the revenue was $517.1 million in fiscal 2021. The fiscal 2021 revenue increased by 78% YOY.
TPV
For Q4 2021, MQ reported a TPV of $33 billion with an increase of 76% YOY.
Moreover, the TPV was $111 billion in fiscal 2021, marking an increase of 85% YOY.
Net Loss
The company had a net loss of $(37) million and $(164) million in Q4 and fiscal 2021, respectively. The respective YOY growth in the net loss was 167% and 244% for Q4 and fiscal 2021.
Q1 2022 Guidance
For Q1 2022, MQ expects to have a revenue growth between 48-50% with a gross profit margin of 43-44%.
Citi Commercial Cards Partnership
On the same day, the company announced being selected by Citi Commercial for its tokenization-as-a-service. MQ will help Citi with the provision of cards into mobile wallets by integrating its tokenization functionality into Citi’s existing systems.
Conclusion
While the new partnership put MQ on a bullish roll in the morning, the beat results increased the bullish momentum in the after hours. The company not only provided beat earnings but also topped its outlook expectations. Therefore, the stock increased further in the after-hours on Wednesday.
