After the announcement of its financial results, the stock price of Marqeta, Inc. (NASDAQ: MQ) saw a notable spike. MQ stock rose 19.80% to $4.21 as of the most check during the current market session today.
Strong Financial Development in Q4 2024
For the quarter that ended on December 31, 2024, Marqeta (MQ) reported a total processing volume (TPV) of $80 billion, which is a 29% increase from the previous year. Furthermore, its gross profit rose by 18% to $98 million, while its net sales jumped by 14% to $136 million from the prior year. Nevertheless, the business reported an adjusted EBITDA of $13 million and a GAAP net loss of $27 million.
Increasing Market Share and Forming Strategic Alliances
Marqeta offers a variety of debit, credit, and money movement options as it approaches 2025 with a more robust platform that serves the fintech and integrated finance industries. By partnering with new banks and networks, MQ keeps expanding its market reach and promoting innovation in payment systems.
Highlighting its program management experience across debit and credit solutions globally, Marqeta also signed a number of new collaborations in Q4, including its first consumer credit co-brand arrangement and other European agreements. MQ’s reputation as a top supplier of program management solutions for a range of financial industries is cemented by these calculated actions.
Purchase of TransactPay to Support Growth in Europe
Marqeta signed a deal to purchase TransactPay, a certified BIN sponsorship provider, in order to strengthen its presence in Europe. With this purchase, the company is authorized to use electronic money institution (EMI) licenses to provide card issuance and BIN sponsorship services in the UK and EEA. In addition to giving embedded finance clients easier access to European markets, the relocation improves its program management capabilities.
Improvements in Strategy
In order to further expand its capabilities for fintech and integrated finance clients, Marqeta announced intentions to include the American Express network into its platform. Strong financial results, well-timed acquisitions, and growing alliances put MQ in a position to develop and innovate further in the rapidly changing financial technology sector.