Marqeta Says Regulatory Scrutiny Has Increased Launch Time -- Market Talk

Dow Jones

2024/11/06

1158 ET - Marqeta seems to be paying the price for additional regulatory scrutiny on its bank partners. After disclosing lackluster 4Q guidance late Monday, CEO Simon Khalaf says on a call with analysts that regulatory changes for small banks made last year have led to delays in launching new card programs. He says Marqeta and banks' onboarding and compliance teams have had a much greater workload. Time to launch a new program grew 30% to 40% from last year, Khalaf said, which has resulted in pushed-out revenue and profits. Shares drop 40%, on pace for the stock's largest ever percent decrease. (ben.glickman@wsj.com; @benglickman)

(END) Dow Jones Newswires

November 05, 2024 11:58 ET (16:58 GMT)

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After disclosing lackluster 4Q guidance late Monday, CEO Simon Khalaf says on a call with analysts that regulatory changes for small banks made last year have led to delays in launching new card programs. He says Marqeta and banks' onboarding and compliance teams have had a much greater workload. Time to launch a new program grew 30% to 40% from last year, Khalaf said, which has resulted in pushed-out revenue and profits. Shares drop 40%, on pace for the stock's largest ever percent decrease. (ben.glickman@wsj.com; @benglickman) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 05, 2024 11:58 ET (16:58 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Marqeta Says Regulatory Scrutiny Has Increased Launch Time -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarqeta Says Regulatory Scrutiny Has Increased Launch Time -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-06 00:58</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1158 ET - Marqeta seems to be paying the price for additional regulatory scrutiny on its bank partners. After disclosing lackluster 4Q guidance late Monday, CEO Simon Khalaf says on a call with analysts that regulatory changes for small banks made last year have led to delays in launching new card programs. He says Marqeta and banks' onboarding and compliance teams have had a much greater workload. Time to launch a new program grew 30% to 40% from last year, Khalaf said, which has resulted in pushed-out revenue and profits. Shares drop 40%, on pace for the stock's largest ever percent decrease. 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After disclosing lackluster 4Q guidance late Monday, CEO Simon Khalaf says on a call with analysts that regulatory changes for small banks made last year have led to delays in launching new card programs. He says Marqeta and banks' onboarding and compliance teams have had a much greater workload. Time to launch a new program grew 30% to 40% from last year, Khalaf said, which has resulted in pushed-out revenue and profits. Shares drop 40%, on pace for the stock's largest ever percent decrease. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4535":"淡马锡持仓","BK4227":"交易和支付处理服务","BK4551":"寇图资本持仓","MQ":"Marqeta, Inc.","BK4561":"索罗斯持仓","BK4106":"数据处理与外包服务","BK4539":"次新股"},"translate_title":"Marqeta表示监管审查增加了推出时间——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MQ":1},"content_text":"1158 ET - Marqeta seems to be paying the price for additional regulatory scrutiny on its bank partners. After disclosing lackluster 4Q guidance late Monday, CEO Simon Khalaf says on a call with analysts that regulatory changes for small banks made last year have led to delays in launching new card programs. He says Marqeta and banks' onboarding and compliance teams have had a much greater workload. Time to launch a new program grew 30% to 40% from last year, Khalaf said, which has resulted in pushed-out revenue and profits. Shares drop 40%, on pace for the stock's largest ever percent decrease. (ben.glickman@wsj.com; @benglickman) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 05, 2024 11:58 ET (16:58 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}