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Marqeta, Inc. (MQ) Stock Taking Solid Strides Ahead, Here’s Why

Marqeta, Inc. (MQ), a cloud-based programming interface platform, has soared 13.26% in aftermarket trading session. Consequently, the stock was trading at $12.13 when last checked. During Wednesday’s regular trading session, MQ rose by 10.07% to close the day at $10.71. The surge in aftermarket could be attributed to the announcement of financial results.

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Q4 and FY 2021 Results

On Wednesday, after the closure of the market, MQ announced the results for the fourth quarter of fiscal 2021 as well as for fiscal 2021. The said period came to an end on 31st December 2021. The net revenue for the quarter was $155 million, increasing by 76% from the same quarter of fiscal 2020. The gross profit for Q4 2021 was $76 million, increasing by 108% on a year-over-year basis. The adjusted EBITDA was $1 million, while the GAAP net loss for the quarter was $37 million. During the full year 2021, the net revenue generated was $517 million, depicting a growth of 78% compared to fiscal 2020. The GAAP net loss for FY 2021 was $164 million, while the adjusted EBITDA was estimated to be $13 million.

Q1 2022 Financial Guidance

MQ also provided financial guidance for the first quarter of the fiscal year 2022. The company expected the net revenue growth to lie in the range of 48% to 50% during the quarter. The gross profit margin for the quarter is estimated to stand between 43% and 44%, while the adjusted EBITDA margin is expected to lie in the range of -8% to -9% during the first quarter of 2022.

Comments from CEO of MQ

Jason Gardner, Founder, and CEO of MQ expressed his pleasure over the solid results and said that the modern card issuing platform introduced by the company would support the cutting edge innovation at a large scale, which is depicted in the excellent performance of the company during Q4 and FY 2021. The company is attracting customers toward its platform as well as devising ways to grow the number of existing customers which exist around the globe.

What’s in Store for MQ?

Looking ahead, analysts are of the view that MQ stock holds several negative technical indicators at the moment. Hence, it is expected to decline in the next few weeks. Investors should take cautious decisions regarding the investment.

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