Marqeta, Inc. (NASDAQ: MQ), a global modern card issuing platform, surged over 13% in after-hours trading on Wednesday following the release of its fourth quarter and full-year 2024 financial results.
The key highlights from the company's earnings report include:
In addition to the strong financial performance, Marqeta's strategic acquisition of TransactPay is expected to bolster its card program management capabilities in the UK and Europe, allowing the company to better serve its fintech and embedded finance customers in the region.
Looking ahead, Marqeta provided guidance for the first quarter of 2025, forecasting net revenue growth of 14-16%, gross profit growth of 11-13%, and an adjusted EBITDA margin of 10-11%.
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