Marqeta reported a loss per share of USD 0.08 for Q4 2023, higher than the loss per share of USD 0.05 recorded in Q4 2022 but beating the analyst-estimated loss per share of USD 0.09 for Q4 2023. The company reported a 42% YoY decline in total revenue to USD 118.8 million, from USD 203.8 million recorded in Q4 2022, but beating the analyst-estimated total revenue of USD 110.4 million for Q4 2023.

For full-year FY2023, the company reported a loss per share of USD 0.42, higher than the loss per share of USD 0.34 recorded in FY2022, but beating consensus estimates for a loss per share of USD 0.43 for FY2023. It also reported a 10% YoY decline in total revenue to USD 676.2 million for FY2023, from USD 748.2 million recorded in FY2022, but beating consensus estimates of USD 668.8 million for FY2023. The decline in Q4 and FY2023 revenue was primarily due to contract renewal with Cash App and changes to revenue presentation.

With the launch of Marqeta’s new credit card-issuing platform in October 2023, the company gained early traction from platforms with various embedded finance use cases ranging across sectors such as travel, entertainment, and professional spend management. Internet Travel Solutions , a travel management platform, and Affinipay , a payments and software solutions provider, were among the early clients of its card-issuing platform.

During FY2023, the company notably entered several partnerships, such as FitBank (July 2023), ScalaPay (October 2023), and Credi2 (November 2023), to expand product reach and grow its payment network.