Earnings Call Summary | Marqeta(MQ.US) Q1 2024 Earnings Conference
Earnings Call Summary | Marqeta(MQ.US) Q1 2024 Earnings Conference
The following is a summary of the Marqeta, Inc. (MQ) Q1 2024 Earnings Call Transcript:
以下是Marqeta, Inc.（MQ）2024年第一季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
Marqeta reported a total processing volume (TPV) of $67 billion in Q1 2024, a 33% increase compared to Q1 2023.
Net revenue for Q1 was $118 million, down 46% year-over-year due to changes in the Cash App contract renewal.
Gross profit reported was $84 million, down 6% compared to Q1 2023, this too was influenced by renewal pricing.
The gross margin for Q1 2024 stood at 71%, with adjusted EBITDA at $9 million. The company ended the quarter with $1.2 billion in cash and short-term investments.
Marqeta報告稱，2024年第一季度的總處理量（TPV）爲670億美元，與2023年第一季度相比增長了33％。
由於Cash App合同續約的變化，第一季度的淨收入爲1.18億美元，同比下降46％。
報告的毛利爲8400萬美元，與2023年第一季度相比下降了6％，這也受到了續訂定價的影響。
2024年第一季度的毛利率爲71％，調整後的息稅折舊攤銷前利潤爲900萬美元。該公司在本季度末獲得了12億美元的現金和短期投資。
Business Progress:
業務進展：
Marqeta continues to grow with both new and existing customers including Trade Republic, Uber Eats, and Klarna, leveraging their payment and program management expertise.
The company is focusing on a $2 trillion market for accelerated wage access (AWA) and is in partnership with entities like Rain and WorkWhile.
In relation to geographical expansion, Marqeta supports Uber Eats growth into Latin and South America, Canada, and Australia. Retirement of Executive Chairman Jason Gardener was announced, yet he will remain a board member.
Despite current revenue contraction, the company predicts increased gross profit growth and a path towards sustainable profitability in the future.
Marqeta implies improving EBITDA margins due to the benefit of a platform business and reaching economies of scale.
Marqeta is also reducing its customer ramp-up time due to operational advancements, leading to significant savings in the process.
The company sees growth in the commercial credit and expense management domains, where customers are adding more volume to Marqeta's platform.
Marqeta plans to use its strengths in credit offerings and geographic diversification to explore new business opportunities, with major financial institutions expected to contribute more revenue by 2025-26.
Marqeta利用他們在支付和項目管理方面的專業知識，繼續與包括貿易共和國、Uber Eats和Klarna在內的新老客戶一起發展。
該公司專注於2萬億美元的加速工資准入（AWA）市場，並與Rain和WorkWhile等實體合作。
在地域擴張方面，Marqeta 支持 Uber Eats 在拉丁美洲、南美洲、加拿大和澳大利亞的增長。執行主席傑森·加德納宣佈退休，但他將繼續擔任董事會成員。
儘管目前收入萎縮，但該公司預測毛利增長將加快，未來將走向可持續盈利的道路。
Marqeta意味着提高息稅折舊攤銷前利潤率，這要歸因於平台業務和實現規模經濟。
由於運營的進步，Marqeta還縮短了客戶啓動時間，從而在流程中節省了大量資金。
該公司預計，商業信貸和費用管理領域將增長，客戶正在爲Marqeta的平台增加更多交易量。
Marqeta計劃利用其在信貸服務和地域多元化方面的優勢來探索新的商機，預計到2025-26年，主要金融機構將貢獻更多收入。
More details: Marqeta IR
更多詳情： Marqeta IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
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譯文內容由第三人軟體翻譯。