– моментальные уведомления о рынке акций
– моментальные уведомления о рынке акций
The global modern card issuing platform generated net revenue of $166 million in the first quarter of 2022, up 54 percent year-over-year, with a 53 percent growth in first quarter total processing volume and a 50 percent increase in gross profit
OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta, Inc. (NASDAQ: MQ), the global modern card issuing platform, today reported financial results for the first quarter ended March 31, 2022.
Total processing volume (TPV) was $37 billion for the quarter, with net revenue of $166 million. This represented an increase of 53% and 54%, respectively, from the same quarter of 2021. Gross profit of $75 million during the quarter grew 50% year over year, resulting in a margin of 45%. GAAP net loss was $61 million and Adjusted EBITDA loss was $10 million for the quarter ended March 31, 2022.
“Our results for the first quarter of 2022 put the fundamentals of Marqeta’s modern card issuing platform on strong display, as we powered our customers to new milestones of scale and enabled their global expansion, while launching new products and partners that further enrich the value we provide them,” said Jason Gardner, Founder and CEO of Marqeta.
Operating Highlights
In thousands, except percentages and per share data. % change is calculated over the comparable prior-year period (unaudited) |
Three Months Ended
|
|||||
|
USD |
|
% Change |
|||
Financial metrics: |
|
|
|
|||
Net revenue |
$ |
166,102 |
|
|
54 |
% |
Gross profit |
$ |
74,726 |
|
|
50 |
% |
Gross margin |
|
45 |
% |
|
|
|
Net loss |
$ |
(60,598 |
) |
|
372 |
% |
Net loss margin |
|
(36 |
) % |
|
|
|
Net loss per share - basic and diluted |
$ |
(0.11 |
) |
|
10 |
% |
Key operating metric and Non-GAAP financial measures: |
|
|
|
|||
Total Processing Volume (TPV) (in millions) 1 |
$ |
36,626 |
|
|
53 |
% |
Adjusted EBITDA 2 |
$ |
(10,453 |
) |
|
(735 |
)% |
Adjusted EBITDA margin 2 |
|
(6 |
) % |
|
|
|
1 TPV represents the total dollar amount of payments processed through our platform, net of returns and chargebacks. We believe that TPV is a key indicator of the market adoption of our platform, growth of our brand, growth of our customers' businesses and scale of our business. |
2 See "Information Regarding Non-GAAP Measures" for definitions of Adjusted EBITDA and Adjusted EBITDA margin and a reconciliation of the net loss to Adjusted EBITDA. |
Recent Business Updates:
Marqeta highlighted several recent business updates that demonstrate its current business momentum:
First Quarter 2022 Financial Results:
Net revenue increased by $58 million, or 54% year-over-year, rising to $166 million from $108 million in the first quarter of 2021 resulting from a 53% increase in TPV year-over-year.
Gross profit increased by 50% year-over-year, rising to $75 million, from $50 million in the first quarter of 2021 primarily due to our TPV growth. Gross margin was 45% in the first quarter of 2022.
Net loss increased by $48 million to $61 million in the quarter. Our increase in gross profit was offset by an increase in compensation, benefits and technology expenses as we continued our investment in our people and platform.
Total Processing Volume increased by 53% year-over-year, rising to $37 billion from $24 billion in the first quarter of 2021.
Adjusted EBITDA in the first quarter of 2022 was $(10) million, a decrease of $(12) million year-over-year. Adjusted EBITDA margin was (6%) in the first quarter of 2022.
Financial Guidance
The following summarizes Marqeta's guidance for the second quarter of 2022:
|
Second Quarter 2022 |
||
Net Revenue Growth |
46 - 48% |
||
|
|
||
Gross Profit Margin |
40 - 41% |
||
|
|
||
Adjusted EBITDA Margin (1) |
Negative 10-11% |
(1) See "Information Regarding Non-GAAP Measures" for the definition of Adjusted EBITDA and for information regarding non-availability of a forward reconciliation. |
Conference Call
Marqeta will host a live conference call today at 1:30 p.m. Pacific time (4:30 p.m. Eastern time). To join the call, please dial-in 10 minutes in advance: toll-free at 1-877-407-4018 or direct at 1-201-689-8471. The conference call will also be available live via webcast online at http://investors.marqeta.com.
The telephone replay dial-in numbers are 1-844-512-2921 and 1-412-317-6671 and will be available until May 25, 2022, 8:59 p.m. Pacific time (11:59 p.m. Eastern time). The confirmation code for the replay is 13729086.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements relating to Marqeta’s quarterly guidance; statements regarding Marqeta’s business plans, business strategy and the continued success and growth of our customers; statements and expectations regarding Marqeta's partnerships, new product introductions, and product capabilities; and statements made by Marqeta’ Founder and CEO. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: the effect of uncertainties related to the global COVID-19 pandemic on U.S. and global economies, our business, results of operations, financial condition, demand for our platform, sales cycles and customer retention; the risk that Marqeta is unable to further attract, retain, diversify, and expand its customer base; the risk that Marqeta is unable to drive increased TPV on its platform; the risk that consumers and customers will not perceive the benefits of Marqeta’s products as Marqeta expects; the risk that Marqeta's technology platform, including hosted solutions, do not operate as intended resulting in system outages; the risk that Marqeta will not be able to achieve the cost structure that Marqeta currently expects; the risk that Marqeta’s solution will not achieve the expected market acceptance; the risk that competition could reduce expected demand for Marqeta’s services; the risk that changes in the regulatory landscape adversely affects the gross interchange or other revenue Marqeta earns or adversely affects the bank and network costs Marqeta incurs; the risk that Marqeta may be unable to maintain relationships with Issuing Banks and Card Networks; the direct and indirect effects of the significant military action against Ukraine launched by Russia on U.S. and global economies, our business, results of operations, financial condition, and demand for our platform; and the risk that Marqeta may be subject to additional risks such as inflation or currency fluctuations due to its international business activities. Detailed information about these risks and other factors that could potentially affect Marqeta’s business, financial condition and results of operations are included in the “Risk Factors” disclosed in Marqeta's Annual Report on Form 10-K for the year ended December 31, 2021, as such risk factors may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com.
The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.
Disclosure Information
Investors and others should note that Marqeta announces material financial information to its investors using its investor relations website, SEC filings, press releases, public conference calls and webcasts. Marqeta also uses social media to communicate with its customers and the public about Marqeta, its products and services and other matters relating to its business and market. It is possible that the information Marqeta posts on social media could be deemed to be material information. Therefore, Marqeta encourages investors, the media, and others interested in Marqeta to review the information we post on social media channels including the Marqeta Twitter feed (@Marqeta), the Marqeta Instagram page (@lifeatmarqeta), the Marqeta Facebook page, and the Marqeta LinkedIn page. These social media channels may be updated from time to time.
Use of Non-GAAP Financial Measures
Reconciliations of non-GAAP financial measures to the most directly comparable financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. For a description of these non-GAAP financial measures, including the reasons management uses each measure, please see the section of the tables titled "Information Regarding Non-GAAP Financial Measures".
About Marqeta, Inc.
Marqeta’s modern card issuing platform empowers its customers to create customized and innovative payment cards. Marqeta’s modern architecture gives its customers the ability to build more configurable and flexible payment experiences, accelerating time-to-market and democratizing access to card issuing technology. Marqeta’s open APIs provide instant access to highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their own card programs, issue cards and authorize and settle payment transactions. Marqeta is headquartered in Oakland, California and is certified to operate in 39 countries globally.
Marqeta® is a registered trademark of Marqeta, Inc.
Marqeta, Inc. |
|||||||
Condensed Consolidated Statements of Operations |
|||||||
(in thousands, except share and per share amounts) |
|||||||
(unaudited) |
|||||||
|
Three Months Ended March 31, |
||||||
|
|
2022 |
|
|
|
2021 |
|
Net revenue |
$ |
166,102 |
|
|
$ |
107,983 |
|
Costs of revenue |
|
91,376 |
|
|
|
58,126 |
|
Gross profit |
|
74,726 |
|
|
|
49,857 |
|
Operating expenses: |
|
|
|
||||
Compensation and benefits |
|
100,348 |
|
|
|
46,904 |
|
Technology |
|
11,384 |
|
|
|
5,626 |
|
Professional services |
|
4,770 |
|
|
|
4,196 |
|
Occupancy |
|
1,115 |
|
|
|
1,086 |
|
Depreciation and amortization |
|
979 |
|
|
|
907 |
|
Marketing and advertising |
|
559 |
|
|
|
495 |
|
Other operating expenses |
|
4,843 |
|
|
|
1,295 |
|
Total operating expenses |
|
123,998 |
|
|
|
60,509 |
|
Loss from operations |
|
(49,272 |
) |
|
|
(10,652 |
) |
Other income (expense), net |
|
(11,677 |
) |
|
|
(2,167 |
) |
Loss before income tax expense |
|
(60,949 |
) |
|
|
(12,819 |
) |
Income tax expense (benefit) |
|
(351 |
) |
|
|
19 |
|
Net loss |
$ |
(60,598 |
) |
|
$ |
(12,838 |
) |
Net loss per share attributable to common stockholders, basic and diluted |
$ |
(0.11 |
) |
|
$ |
(0.10 |
) |
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted |
|
542,565,992 |
|
|
|
130,841,306 |
|
Marqeta, Inc. |
|||||||
Condensed Consolidated Balance Sheets |
|||||||
(in thousands) |
|||||||
|
March 31,
|
|
December 31,
|
||||
|
(unaudited) |
|
|
||||
Assets |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
1,197,257 |
|
|
$ |
1,247,581 |
|
Restricted cash |
|
7,800 |
|
|
|
7,800 |
|
Marketable securities |
|
447,046 |
|
|
|
452,875 |
|
Accounts receivable, net |
|
9,017 |
|
|
|
13,187 |
|
Settlements receivable, net |
|
9,093 |
|
|
|
11,266 |
|
Network incentives receivable |
|
45,721 |
|
|
|
30,399 |
|
Prepaid expenses and other current assets |
|
43,789 |
|
|
|
35,617 |
|
Total current assets |
|
1,759,723 |
|
|
|
1,798,725 |
|
Property and equipment, net |
|
9,120 |
|
|
|
9,687 |
|
Operating lease right-of-use assets, net |
|
10,748 |
|
|
|
11,296 |
|
Equity method investment |
|
8,036 |
|
|
|
8,384 |
|
Other assets |
|
5,856 |
|
|
|
2,286 |
|
Total assets |
$ |
1,793,483 |
|
|
$ |
1,830,378 |
|
Liabilities and stockholders' equity |
|
|
|
||||
Current liabilities |
|
|
|
||||
Accounts payable |
$ |
1,698 |
|
|
$ |
2,693 |
|
Revenue share payable |
|
130,045 |
|
|
|
121,179 |
|
Accrued expenses and other current liabilities |
|
102,146 |
|
|
|
114,096 |
|
Total current liabilities |
|
233,889 |
|
|
|
237,968 |
|
Operating lease liabilities, net of current portion |
|
11,618 |
|
|
|
12,427 |
|
Other liabilities |
|
4,344 |
|
|
|
6,557 |
|
Total liabilities |
|
249,851 |
|
|
|
256,952 |
|
Stockholders' equity : |
|
|
|
||||
Preferred stock |
|
— |
|
|
|
— |
|
Common stock |
|
54 |
|
|
|
54 |
|
Additional paid-in capital |
|
2,029,745 |
|
|
|
1,993,055 |
|
Accumulated other comprehensive loss |
|
(8,116 |
) |
|
|
(2,230 |
) |
Accumulated deficit |
|
(478,051 |
) |
|
|
(417,453 |
) |
Total stockholders’ equity |
|
1,543,632 |
|
|
|
1,573,426 |
|
Total liabilities and stockholders' equity |
$ |
1,793,483 |
|
|
$ |
1,830,378 |
|
Marqeta, Inc. |
|||||||
Condensed Consolidated Statements of Cash Flows |
|||||||
(in thousands) |
|||||||
(unaudited) |
|||||||
|
Three Months Ended March 31, |
||||||
|
|
2022 |
|
|
|
2021 |
|
Cash flows from operating activities: |
|
|
|
||||
Net loss |
$ |
(60,598 |
) |
|
$ |
(12,838 |
) |
Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
||||
Depreciation and amortization |
|
979 |
|
|
|
907 |
|
Share-based compensation expense |
|
37,005 |
|
|
|
11,392 |
|
Non-cash operating leases expense |
|
548 |
|
|
|
522 |
|
Amortization of premium on marketable securities |
|
184 |
|
|
|
360 |
|
Impairment of other financial instruments |
|
11,616 |
|
|
|
— |
|
Other |
|
282 |
|
|
|
2,324 |
|
Changes in operating assets and liabilities: |
|
|
|
||||
Accounts receivable |
|
4,223 |
|
|
|
5,032 |
|
Settlements receivable |
|
2,173 |
|
|
|
1,509 |
|
Network incentives receivable |
|
(15,322 |
) |
|
|
(12,055 |
) |
Prepaid expenses and other assets |
|
(21,256 |
) |
|
|
(426 |
) |
Accounts payable |
|
(801 |
) |
|
|
(43 |
) |
Revenue share payable |
|
8,866 |
|
|
|
14,122 |
|
Accrued expenses and other liabilities |
|
(13,937 |
) |
|
|
7,750 |
|
Operating lease liabilities |
|
(721 |
) |
|
|
(686 |
) |
Net cash (used in) provided by operating activities |
|
(46,759 |
) |
|
|
17,870 |
|
Cash flows from investing activities: |
|
|
|
||||
Purchases of property and equipment |
|
(612 |
) |
|
|
(604 |
) |
Purchases of marketable securities |
|
(10,022 |
) |
|
|
(7,002 |
) |
Maturities of marketable securities |
|
9,800 |
|
|
|
16,366 |
|
Net cash (used in) provided by investing activities |
|
(834 |
) |
|
|
8,760 |
|
Cash flows from financing activities: |
|
|
|
||||
Proceeds from exercise of stock options, including early exercised stock options |
|
1,971 |
|
|
|
1,711 |
|
Taxes paid related to net share settlement of restricted stock units |
|
(4,702 |
) |
|
|
— |
|
Payment of deferred offering costs |
|
— |
|
|
|
(1,144 |
) |
Net cash (used in) provided by financing activities |
|
(2,731 |
) |
|
|
567 |
|
Net (decrease) increase in cash, cash equivalents, and restricted cash |
|
(50,324 |
) |
|
|
27,197 |
|
Cash, cash equivalents, and restricted cash- Beginning of period |
|
1,255,381 |
|
|
|
228,233 |
|
Cash, cash equivalents, and restricted cash - End of period |
$ |
1,205,057 |
|
|
$ |
255,430 |
|
Marqeta, Inc. |
|||||||||||||||||||||||
Financial and Operating Highlights |
|||||||||||||||||||||||
(in thousands, except per share data or as noted) |
|||||||||||||||||||||||
|
|
2022 |
|
2021 |
|
Year over
|
|||||||||||||||||
|
|
First Quarter |
|
Fourth
|
|
Third
|
|
Second
|
|
First Quarter |
|
||||||||||||
Operating performance: |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net revenue |
|
$ |
166,102 |
|
|
$ |
155,414 |
|
|
$ |
131,511 |
|
|
$ |
122,266 |
|
|
$ |
107,983 |
|
|
54 |
% |
Costs of revenue |
|
|
91,376 |
|
|
|
79,615 |
|
|
|
72,438 |
|
|
|
75,291 |
|
|
|
58,126 |
|
|
57 |
% |
Gross profit |
|
|
74,726 |
|
|
|
75,799 |
|
|
|
59,073 |
|
|
|
46,975 |
|
|
|
49,857 |
|
|
50 |
% |
Gross margin |
|
|
45 |
% |
|
|
49 |
% |
|
|
45 |
% |
|
|
38 |
% |
|
|
46 |
% |
|
(1) pps |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Compensation and benefits |
|
|
100,348 |
|
|
|
88,995 |
|
|
|
84,462 |
|
|
|
97,755 |
|
|
|
46,904 |
|
|
114 |
% |
Technology |
|
|
11,384 |
|
|
|
11,143 |
|
|
|
9,299 |
|
|
|
7,569 |
|
|
|
5,626 |
|
|
102 |
% |
Professional services |
|
|
4,770 |
|
|
|
5,712 |
|
|
|
4,703 |
|
|
|
3,831 |
|
|
|
4,196 |
|
|
14 |
% |
Occupancy and equipment |
|
|
1,115 |
|
|
|
1,097 |
|
|
|
1,091 |
|
|
|
907 |
|
|
|
1,086 |
|
|
3 |
% |
Depreciation and amortization |
|
|
979 |
|
|
|
967 |
|
|
|
786 |
|
|
|
874 |
|
|
|
907 |
|
|
8 |
% |
Marketing and advertising |
|
|
559 |
|
|
|
804 |
|
|
|
490 |
|
|
|
495 |
|
|
|
495 |
|
|
13 |
% |
Other operating expenses |
|
|
4,843 |
|
|
|
4,811 |
|
|
|
3,880 |
|
|
|
3,530 |
|
|
|
1,295 |
|
|
274 |
% |
Total operating expenses |
|
|
123,998 |
|
|
|
113,529 |
|
|
|
104,711 |
|
|
|
114,961 |
|
|
|
60,509 |
|
|
105 |
% |
Loss from operations |
|
|
(49,272 |
) |
|
|
(37,730 |
) |
|
|
(45,638 |
) |
|
|
(67,986 |
) |
|
|
(10,652 |
) |
|
363 |
% |
Other income (expense), net |
|
|
(11,677 |
) |
|
|
142 |
|
|
|
(57 |
) |
|
|
(481 |
) |
|
|
(2,167 |
) |
|
439 |
% |
Loss before income tax expense |
|
|
(60,949 |
) |
|
|
(37,588 |
) |
|
|
(45,695 |
) |
|
|
(68,467 |
) |
|
|
(12,819 |
) |
|
375 |
% |
Income tax expense (benefit) |
|
|
(351 |
) |
|
|
(781 |
) |
|
|
35 |
|
|
|
87 |
|
|
|
19 |
|
|
(1947 |
) % |
Net loss |
|
$ |
(60,598 |
) |
|
$ |
(36,807 |
) |
|
$ |
(45,730 |
) |
|
$ |
(68,554 |
) |
|
$ |
(12,838 |
) |
|
372 |
% |
Loss per share - basic and diluted |
|
$ |
(0.11 |
) |
|
$ |
(0.07 |
) |
|
$ |
(0.08 |
) |
|
$ |
(0.29 |
) |
|
$ |
(0.10 |
) |
|
10 |
% |
TPV (in millions) |
|
$ |
36,626 |
|
|
$ |
33,046 |
|
|
$ |
27,569 |
|
|
$ |
26,520 |
|
|
$ |
23,998 |
|
|
53 |
% |
Adjusted EBITDA |
|
$ |
(10,453 |
) |
|
$ |
1,162 |
|
|
$ |
(4,939 |
) |
|
$ |
(10,637 |
) |
|
$ |
1,647 |
|
|
(735 |
) % |
Adjusted EBITDA margin |
|
|
(6 |
) % |
|
|
1 |
% |
|
|
(4 |
) % |
|
|
(9 |
) % |
|
|
2 |
% |
|
(8) pps |
|
Financial condition: |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Cash and cash equivalents |
|
$ |
1,197,257 |
|
|
$ |
1,247,581 |
|
|
$ |
1,260,220 |
|
|
$ |
1,579,287 |
|
|
$ |
247,630 |
|
|
383 |
% |
Restricted cash |
|
$ |
7,800 |
|
|
$ |
7,800 |
|
|
$ |
7,800 |
|
|
$ |
7,800 |
|
|
$ |
7,800 |
|
|
— |
% |
Marketable securities |
|
$ |
447,046 |
|
|
$ |
452,875 |
|
|
$ |
408,954 |
|
|
$ |
105,053 |
|
|
$ |
140,145 |
|
|
219 |
% |
Total assets |
|
$ |
1,793,483 |
|
|
$ |
1,830,378 |
|
|
$ |
1,783,142 |
|
|
$ |
1,780,324 |
|
|
$ |
481,803 |
|
|
272 |
% |
Total liabilities |
|
$ |
249,851 |
|
|
$ |
256,952 |
|
|
$ |
209,802 |
|
|
$ |
194,338 |
|
|
$ |
193,497 |
|
|
29 |
% |
Redeemable preferred stock |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
501,881 |
|
|
(100 |
) % |
Stockholders' equity (deficit) |
|
$ |
1,543,632 |
|
|
$ |
1,573,426 |
|
|
$ |
1,573,340 |
|
|
$ |
1,585,986 |
|
|
$ |
(213,575 |
) |
|
(823 |
) % |
pps = percentage points |
|||||||||||||||||||||||
Marqeta, Inc. Reconciliation of GAAP to NON-GAAP Measures (in thousands) (unaudited)
Information Regarding Non-GAAP Measures
In addition to the financial measures prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), this press release contains certain non-GAAP financial measures. Marqeta considers Adjusted EBITDA and Adjusted EBITDA Margin as supplemental measures of the company’s performance that are not required by, nor presented in accordance with GAAP.
We define Adjusted EBITDA as net income (loss) adjusted to exclude depreciation and amortization; share-based compensation expense; payroll tax related to share-based compensation; legal, financial, and tax due diligence costs related to potential acquisitions; income tax expense (benefit); and other expense (income) net, which consists of changes in the fair value of redeemable convertible preferred stock warrant liabilities (for periods prior to the IPO), realized foreign currency gains and losses, interest income from our marketable securities, our share of equity method investments’ profit or loss, and impairment of equity method investments or other financial instruments. We believe that Adjusted EBITDA is an important measure of operating performance because it allows management and our board of directors to evaluate and compare our core operating results, including our operating efficiencies, from period to period. Additionally, we utilize Adjusted EBITDA as an input into our calculation of certain annual employee bonus plans.
Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by net revenue. This measure is used by management and our board of directors to evaluate our operating efficiency.
Adjusted EBITDA and Adjusted EBITDA Margin should not be considered in isolation, or construed as an alternative to net loss, or any other performance measures derived in accordance with GAAP, or as an alternative to cash flow from operating activities or as a measure of the company's liquidity. In addition, other companies may calculate Adjusted EBITDA differently than Marqeta does, which limits its usefulness in comparing Marqeta’s financial results with those of other companies.
The following table shows Marqeta's GAAP results reconciled to non-GAAP results included in this release:
|
Three Months Ended March 31, |
||||||
|
2022 |
|
2021 |
||||
GAAP net revenue |
$ |
166,102 |
|
|
$ |
107,983 |
|
GAAP net loss |
$ |
(60,598 |
) |
|
$ |
(12,838 |
) |
GAAP net loss margin |
|
(36 |
) % |
|
|
(12 |
) % |
|
|
|
|
||||
GAAP net loss |
$ |
(60,598 |
) |
|
$ |
(12,838 |
) |
Depreciation and amortization expense |
|
979 |
|
|
|
907 |
|
Share-based compensation expense |
|
37,005 |
|
|
|
11,392 |
|
Payroll tax expense related to share-based compensation |
|
835 |
|
|
|
— |
|
Other expense (income), net |
|
11,677 |
|
|
|
2,167 |
|
Income tax expense (benefit) |
|
(351 |
) |
|
|
19 |
|
Adjusted EBITDA |
$ |
(10,453 |
) |
|
$ |
1,647 |
|
Adjusted EBITDA Margin |
|
(6 |
) % |
|
|
2 |
% |
A reconciliation of Adjusted EBITDA to the comparable GAAP measure for the second quarter of 2022 is not available due to the challenges and impracticability with estimating some of the items as such items cannot be reasonably predicted and could be significant. Because of those challenges, reconciliations of such forward-looking non-GAAP financial measures are not available without unreasonable effort.
Глобальная платформа выпуска современных карт в первом квартале 2022 года принесла чистую выручку в размере 166 миллионов долларов, что на 54 процента больше, чем в прошлом году, при 53-процентном росте общего объема обработки в первом квартале и 50-процентном увеличении валовой прибыли
ОКЛЕНД, Калифорния. - (ДЕЛОВАЯ ПЕРЕПИСКА) -Marqeta, Inc. (NASDAQ: MQ), глобальная платформа выпуска современных карт, сегодня сообщила о финансовых результатах за первый квартал, закончившийся 31 марта 2022 года.
Общий объем обработки (TPV) за квартал составил 37 миллиардов долларов, а чистая выручка составила 166 миллионов долларов. Это представляет собой увеличение на 53% и 54% соответственно по сравнению с тем же кварталом 2021 года. Валовая прибыль в размере 75 миллионов долларов за квартал выросла на 50% в годовом исчислении, в результате чего рентабельность составила 45%. Чистый убыток по ОПБУ составил 61 миллион долларов, а скорректированный убыток по EBITDA составил 10 миллионов долларов за квартал, закончившийся 31 марта 2022 года.
“Наши результаты за первый квартал 2022 года наглядно демонстрируют основы современной платформы выпуска карт Marqeta, поскольку мы вывели наших клиентов на новые рубежи масштаба и обеспечили их глобальную экспансию, одновременно запустив новые продукты и партнеров, которые еще больше увеличивают ценность, которую мы им предоставляем”, - сказал Джейсон Гарднер, основатель и генеральный директор Marqeta.
Основные моменты работы
In thousands, except percentages and per share data. % change is calculated over the comparable prior-year period (unaudited) |
Three Months Ended
|
|||||
|
USD |
|
% Change |
|||
Financial metrics: |
|
|
|
|||
Net revenue |
$ |
166,102 |
|
|
54 |
% |
Gross profit |
$ |
74,726 |
|
|
50 |
% |
Gross margin |
|
45 |
% |
|
|
|
Net loss |
$ |
(60,598 |
) |
|
372 |
% |
Net loss margin |
|
(36 |
) % |
|
|
|
Net loss per share - basic and diluted |
$ |
(0.11 |
) |
|
10 |
% |
Key operating metric and Non-GAAP financial measures: |
|
|
|
|||
Total Processing Volume (TPV) (in millions) 1 |
$ |
36,626 |
|
|
53 |
% |
Adjusted EBITDA 2 |
$ |
(10,453 |
) |
|
(735 |
)% |
Adjusted EBITDA margin 2 |
|
(6 |
) % |
|
|
|
1 TPV represents the total dollar amount of payments processed through our platform, net of returns and chargebacks. We believe that TPV is a key indicator of the market adoption of our platform, growth of our brand, growth of our customers' businesses and scale of our business. |
2 See "Information Regarding Non-GAAP Measures" for definitions of Adjusted EBITDA and Adjusted EBITDA margin and a reconciliation of the net loss to Adjusted EBITDA. |
Последние Бизнес-обновления:
Marqeta выделила несколько недавних бизнес-обновлений, которые демонстрируют текущую динамику ее бизнеса:
Финансовые результаты за Первый квартал 2022 года:
Чистая выручка увеличилась на 58 миллионов долларов, или на 54% в годовом исчислении, увеличившись до 166 миллионов долларов с 108 миллионов долларов в первом квартале 2021 года в результате увеличения TPV на 53% в годовом исчислении.
Валовая прибыль увеличилась на 50% в годовом исчислении, увеличившись до 75 миллионов долларов с 50 миллионов долларов в первом квартале 2021 года, главным образом за счет нашего роста TPV. Валовая прибыль в первом квартале 2022 года составила 45%.
Чистый убыток за квартал увеличился на 48 миллионов долларов до 61 миллиона долларов. Наш рост валовой прибыли был компенсирован увеличением компенсаций, льгот и расходов на технологии, поскольку мы продолжали инвестировать в наших сотрудников и платформу.
Общий объем переработки увеличился на 53% в годовом исчислении, увеличившись до 37 миллиардов долларов с 24 миллиардов долларов в первом квартале 2021 года.
Скорректированная EBITDA в первом квартале 2022 года составила 10 миллионов долларов, что на 12 миллионов долларов меньше по сравнению с аналогичным периодом прошлого года. Скорректированная рентабельность по EBITDA составила (6%) в первом квартале 2022 года.
Финансовое руководство
Ниже приводится краткое изложение рекомендаций Marqeta на второй квартал 2022 года:
|
Second Quarter 2022 |
||
Net Revenue Growth |
46 - 48% |
||
|
|
||
Gross Profit Margin |
40 - 41% |
||
|
|
||
Adjusted EBITDA Margin (1) |
Negative 10-11% |
(1) See "Information Regarding Non-GAAP Measures" for the definition of Adjusted EBITDA and for information regarding non-availability of a forward reconciliation. |
Конференц-связь
Marqeta проведет прямую телефонную конференцию сегодня в 1:30 вечера по тихоокеанскому времени (4:30 вечера по восточному времени). Чтобы присоединиться к звонку, пожалуйста, наберите за 10 минут до начала: бесплатный звонок по телефону 1-877-407-4018 или напрямую по телефону 1-201-689-8471. Конференц-связь также будет доступна в прямом эфире через веб-трансляцию онлайн по адресу http://investors.marqeta.com .
Телефонные номера для повторного набора 1-844-512-2921 и 1-412-317-6671 будут доступны до 25 мая 2022 года, 8:59 вечера по тихоокеанскому времени (11:59 вечера по Восточному времени). Код подтверждения для воспроизведения - 13729086.
Прогнозные заявления
Настоящий пресс-релиз содержит "прогнозные заявления" по смыслу положений Закона о реформе судебных разбирательств по частным ценным бумагам 1995 года о "безопасной гавани". Прогнозные заявления, выраженные или подразумеваемые в этом пресс-релизе, включают, но не ограничиваются ими, заявления, касающиеся ежеквартальных рекомендаций Marqeta; заявления, касающиеся бизнес-планов Marqeta, бизнес-стратегии и дальнейшего успеха и роста наших клиентов; заявления и ожидания относительно партнерских отношений Marqeta, внедрения новых продуктов и продуктов возможности; и заявления, сделанные основателем и генеральным директором Marqeta. Фактические результаты могут существенно отличаться от ожиданий, содержащихся в этих утверждениях из-за рисков и неопределенностей, включая, но не ограничиваясь, следующим: влияние неопределенности в отношении глобальной COVID-19 в пандемию на США и мировую экономику, наш бизнес, результаты деятельности, финансовое состояние, спрос на нашу платформу, цикл продаж и удержания клиентов; риск того, что Marqeta лишается возможности продолжать привлекать, удерживать, разнообразить и расширить свою клиентскую базу; риск того, что Marqeta не в состоянии повысить TPV на своей площадке; риск того, что потребители и клиенты не будут воспринимать преимущества Marqeta продукции как Marqeta ожидает; риск того, что Marqeta технологической платформы, в том числе размещенные решения, не работают так, как предполагалось, в результате перерывы в работе системы; риск того, что Marqeta не сможет достичь в структуре себестоимости, что Marqeta в настоящее время ожидает; риск того, что Marqeta это решение не приведет к достижению ожидаемого рынке приема; риск того, что конкуренция может снизить ожидаемый спрос на Marqeta услуг; данный риск связан с изменением нормативно-правового регулирования отрицательно сказывается на валовом обмена или иного дохода Marqeta зарабатывает или отрицательно влияет на банк и сеть стоит Marqeta берет; риск того, что Marqeta может быть не в состоянии поддерживать отношения с банками-эмитентами карт и сетей; прямое и косвенное воздействие значительных военных действий против Украины, начатой Россией на США и мировую экономику, наш бизнес, результаты деятельности, финансовое состояние, и спрос на нашу платформу; и риск того, что Marqeta могут быть предметом дополнительных рисков, таких как инфляция или колебания курсов валют из-за своей международной деятельности. Подробная информация об этих рисках и других факторах, которые потенциально могут повлиять на бизнес, финансовое состояние и результаты деятельности Marqeta, включена в раздел “Факторы риска”, раскрытый в Годовом отчете Marqeta по форме 10-K за год, закончившийся 31 декабря 2021 года, поскольку такие факторы риска могут время от времени обновляться время в периодических заявках Marqeta в SEC, доступных по адресу www.sec.gov и веб-сайт Marqeta по адресу http://investors.marqeta.com .
Прогнозные заявления в этом пресс-релизе основаны на информации, доступной Marqeta на дату настоящего документа. Marqeta отказывается от каких-либо обязательств по обновлению любых прогнозных заявлений, за исключением случаев, предусмотренных законом.
Раскрытие Информации
Инвесторы и другие лица должны отметить, что Marqeta объявляет существенную финансовую информацию своим инвесторам, используя свой веб-сайт по связям с инвесторами, заявки SEC, пресс-релизы, открытые телефонные конференции и веб-трансляции. Marqeta также использует социальные сети для общения со своими клиентами и общественностью о Marqeta, ее продуктах и услугах, а также по другим вопросам, касающимся ее бизнеса и рынка. Вполне возможно, что информация, которую Маркета публикует в социальных сетях, может считаться существенной информацией. Поэтому Marqeta призывает инвесторов, средства массовой информации и других лиц, заинтересованных в Marqeta, просматривать информацию, которую мы размещаем в социальных сетях, включая канал Marqeta в Twitter (@Marqeta), страницу Marqeta в Instagram (@lifeatmarqeta), страницу Marqeta в Facebook и страницу Marqeta в LinkedIn. Эти каналы социальных сетей могут время от времени обновляться.
Использование финансовых показателей, не относящихся к ОПБУ
Сверки финансовых показателей, не относящихся к GAAP, с наиболее непосредственно сопоставимыми финансовыми результатами, определенными в соответствии с GAAP, включены в конце этого пресс-релиза после прилагаемых финансовых данных. Описание этих финансовых показателей, не относящихся к GAAP, включая причины, по которым руководство использует каждую меру, см. в разделе таблиц, озаглавленном "Информация о финансовых показателях, не относящихся к GAAP".
О компании Marqeta, Inc.
Современная платформа выпуска карт Marqeta позволяет своим клиентам создавать индивидуальные и инновационные платежные карты. Современная архитектура Marqeta дает своим клиентам возможность создавать более настраиваемые и гибкие способы оплаты, ускоряя время выхода на рынок и демократизируя доступ к технологии выпуска карт. Открытые API-интерфейсы Marqeta обеспечивают мгновенный доступ к масштабируемой облачной платежной инфраструктуре, которая позволяет клиентам запускать собственные карточные программы и управлять ими, выпускать карты, а также разрешать и осуществлять платежные транзакции. Штаб-квартира Marqeta находится в Окленде, штат Калифорния, и сертифицирована для работы в 39 странах мира.
Marqeta® является зарегистрированной торговой маркой Marqeta, Inc.
Marqeta, Inc. |
|||||||
Condensed Consolidated Statements of Operations |
|||||||
(in thousands, except share and per share amounts) |
|||||||
(unaudited) |
|||||||
|
Three Months Ended March 31, |
||||||
|
|
2022 |
|
|
|
2021 |
|
Net revenue |
$ |
166,102 |
|
|
$ |
107,983 |
|
Costs of revenue |
|
91,376 |
|
|
|
58,126 |
|
Gross profit |
|
74,726 |
|
|
|
49,857 |
|
Operating expenses: |
|
|
|
||||
Compensation and benefits |
|
100,348 |
|
|
|
46,904 |
|
Technology |
|
11,384 |
|
|
|
5,626 |
|
Professional services |
|
4,770 |
|
|
|
4,196 |
|
Occupancy |
|
1,115 |
|
|
|
1,086 |
|
Depreciation and amortization |
|
979 |
|
|
|
907 |
|
Marketing and advertising |
|
559 |
|
|
|
495 |
|
Other operating expenses |
|
4,843 |
|
|
|
1,295 |
|
Total operating expenses |
|
123,998 |
|
|
|
60,509 |
|
Loss from operations |
|
(49,272 |
) |
|
|
(10,652 |
) |
Other income (expense), net |
|
(11,677 |
) |
|
|
(2,167 |
) |
Loss before income tax expense |
|
(60,949 |
) |
|
|
(12,819 |
) |
Income tax expense (benefit) |
|
(351 |
) |
|
|
19 |
|
Net loss |
$ |
(60,598 |
) |
|
$ |
(12,838 |
) |
Net loss per share attributable to common stockholders, basic and diluted |
$ |
(0.11 |
) |
|
$ |
(0.10 |
) |
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted |
|
542,565,992 |
|
|
|
130,841,306 |
|
Marqeta, Inc. |
|||||||
Condensed Consolidated Balance Sheets |
|||||||
(in thousands) |
|||||||
|
March 31,
|
|
December 31,
|
||||
|
(unaudited) |
|
|
||||
Assets |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
1,197,257 |
|
|
$ |
1,247,581 |
|
Restricted cash |
|
7,800 |
|
|
|
7,800 |
|
Marketable securities |
|
447,046 |
|
|
|
452,875 |
|
Accounts receivable, net |
|
9,017 |
|
|
|
13,187 |
|
Settlements receivable, net |
|
9,093 |
|
|
|
11,266 |
|
Network incentives receivable |
|
45,721 |
|
|
|
30,399 |
|
Prepaid expenses and other current assets |
|
43,789 |
|
|
|
35,617 |
|
Total current assets |
|
1,759,723 |
|
|
|
1,798,725 |
|
Property and equipment, net |
|
9,120 |
|
|
|
9,687 |
|
Operating lease right-of-use assets, net |
|
10,748 |
|
|
|
11,296 |
|
Equity method investment |
|
8,036 |
|
|
|
8,384 |
|
Other assets |
|
5,856 |
|
|
|
2,286 |
|
Total assets |
$ |
1,793,483 |
|
|
$ |
1,830,378 |
|
Liabilities and stockholders' equity |
|
|
|
||||
Current liabilities |
|
|
|
||||
Accounts payable |
$ |
1,698 |
|
|
$ |
2,693 |
|
Revenue share payable |
|
130,045 |
|
|
|
121,179 |
|
Accrued expenses and other current liabilities |
|
102,146 |
|
|
|
114,096 |
|
Total current liabilities |
|
233,889 |
|
|
|
237,968 |
|
Operating lease liabilities, net of current portion |
|
11,618 |
|
|
|
12,427 |
|
Other liabilities |
|
4,344 |
|
|
|
6,557 |
|
Total liabilities |
|
249,851 |
|
|
|
256,952 |
|
Stockholders' equity : |
|
|
|
||||
Preferred stock |
|
— |
|
|
|
— |
|
Common stock |
|
54 |
|
|
|
54 |
|
Additional paid-in capital |
|
2,029,745 |
|
|
|
1,993,055 |
|
Accumulated other comprehensive loss |
|
(8,116 |
) |
|
|
(2,230 |
) |
Accumulated deficit |
|
(478,051 |
) |
|
|
(417,453 |
) |
Total stockholders’ equity |
|
1,543,632 |
|
|
|
1,573,426 |
|
Total liabilities and stockholders' equity |
$ |
1,793,483 |
|
|
$ |
1,830,378 |
|
Marqeta, Inc. |
|||||||
Condensed Consolidated Statements of Cash Flows |
|||||||
(in thousands) |
|||||||
(unaudited) |
|||||||
|
Three Months Ended March 31, |
||||||
|
|
2022 |
|
|
|
2021 |
|
Cash flows from operating activities: |
|
|
|
||||
Net loss |
$ |
(60,598 |
) |
|
$ |
(12,838 |
) |
Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
||||
Depreciation and amortization |
|
979 |
|
|
|
907 |
|
Share-based compensation expense |
|
37,005 |
|
|
|
11,392 |
|
Non-cash operating leases expense |
|
548 |
|
|
|
522 |
|
Amortization of premium on marketable securities |
|
184 |
|
|
|
360 |
|
Impairment of other financial instruments |
|
11,616 |
|
|
|
— |
|
Other |
|
282 |
|
|
|
2,324 |
|
Changes in operating assets and liabilities: |
|
|
|
||||
Accounts receivable |
|
4,223 |
|
|
|
5,032 |
|
Settlements receivable |
|
2,173 |
|
|
|
1,509 |
|
Network incentives receivable |
|
(15,322 |
) |
|
|
(12,055 |
) |
Prepaid expenses and other assets |
|
(21,256 |
) |
|
|
(426 |
) |
Accounts payable |
|
(801 |
) |
|
|
(43 |
) |
Revenue share payable |
|
8,866 |
|
|
|
14,122 |
|
Accrued expenses and other liabilities |
|
(13,937 |
) |
|
|
7,750 |
|
Operating lease liabilities |
|
(721 |
) |
|
|
(686 |
) |
Net cash (used in) provided by operating activities |
|
(46,759 |
) |
|
|
17,870 |
|
Cash flows from investing activities: |
|
|
|
||||
Purchases of property and equipment |
|
(612 |
) |
|
|
(604 |
) |
Purchases of marketable securities |
|
(10,022 |
) |
|
|
(7,002 |
) |
Maturities of marketable securities |
|
9,800 |
|
|
|
16,366 |
|
Net cash (used in) provided by investing activities |
|
(834 |
) |
|
|
8,760 |
|
Cash flows from financing activities: |
|
|
|
||||
Proceeds from exercise of stock options, including early exercised stock options |
|
1,971 |
|
|
|
1,711 |
|
Taxes paid related to net share settlement of restricted stock units |
|
(4,702 |
) |
|
|
— |
|
Payment of deferred offering costs |
|
— |
|
|
|
(1,144 |
) |
Net cash (used in) provided by financing activities |
|
(2,731 |
) |
|
|
567 |
|
Net (decrease) increase in cash, cash equivalents, and restricted cash |
|
(50,324 |
) |
|
|
27,197 |
|
Cash, cash equivalents, and restricted cash- Beginning of period |
|
1,255,381 |
|
|
|
228,233 |
|
Cash, cash equivalents, and restricted cash - End of period |
$ |
1,205,057 |
|
|
$ |
255,430 |
|
Marqeta, Inc. |
|||||||||||||||||||||||
Financial and Operating Highlights |
|||||||||||||||||||||||
(in thousands, except per share data or as noted) |
|||||||||||||||||||||||
|
|
2022 |
|
2021 |
|
Year over
|
|||||||||||||||||
|
|
First Quarter |
|
Fourth
|
|
Third
|
|
Second
|
|
First Quarter |
|
||||||||||||
Operating performance: |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net revenue |
|
$ |
166,102 |
|
|
$ |
155,414 |
|
|
$ |
131,511 |
|
|
$ |
122,266 |
|
|
$ |
107,983 |
|
|
54 |
% |
Costs of revenue |
|
|
91,376 |
|
|
|
79,615 |
|
|
|
72,438 |
|
|
|
75,291 |
|
|
|
58,126 |
|
|
57 |
% |
Gross profit |
|
|
74,726 |
|
|
|
75,799 |
|
|
|
59,073 |
|
|
|
46,975 |
|
|
|
49,857 |
|
|
50 |
% |
Gross margin |
|
|
45 |
% |
|
|
49 |
% |
|
|
45 |
% |
|
|
38 |
% |
|
|
46 |
% |
|
(1) pps |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Compensation and benefits |
|
|
100,348 |
|
|
|
88,995 |
|
|
|
84,462 |
|
|
|
97,755 |
|
|
|
46,904 |
|
|
114 |
% |
Technology |
|
|
11,384 |
|
|
|
11,143 |
|
|
|
9,299 |
|
|
|
7,569 |
|
|
|
5,626 |
|
|
102 |
% |
Professional services |
|
|
4,770 |
|
|
|
5,712 |
|
|
|
4,703 |
|
|
|
3,831 |
|
|
|
4,196 |
|
|
14 |
% |
Occupancy and equipment |
|
|
1,115 |
|
|
|
1,097 |
|
|
|
1,091 |
|
|
|
907 |
|
|
|
1,086 |
|
|
3 |
% |
Depreciation and amortization |
|
|
979 |
|
|
|
967 |
|
|
|
786 |
|
|
|
874 |
|
|
|
907 |
|
|
8 |
% |
Marketing and advertising |
|
|
559 |
|
|
|
804 |
|
|
|
490 |
|
|
|
495 |
|
|
|
495 |
|
|
13 |
% |
Other operating expenses |
|
|
4,843 |
|
|
|
4,811 |
|
|
|
3,880 |
|
|
|
3,530 |
|
|
|
1,295 |
|
|
274 |
% |
Total operating expenses |
|
|
123,998 |
|
|
|
113,529 |
|
|
|
104,711 |
|
|
|
114,961 |
|
|
|
60,509 |
|
|
105 |
% |
Loss from operations |
|
|
(49,272 |
) |
|
|
(37,730 |
) |
|
|
(45,638 |
) |
|
|
(67,986 |
) |
|
|
(10,652 |
) |
|
363 |
% |
Other income (expense), net |
|
|
(11,677 |
) |
|
|
142 |
|
|
|
(57 |
) |
|
|
(481 |
) |
|
|
(2,167 |
) |
|
439 |
% |
Loss before income tax expense |
|
|
(60,949 |
) |
|
|
(37,588 |
) |
|
|
(45,695 |
) |
|
|
(68,467 |
) |
|
|
(12,819 |
) |
|
375 |
% |
Income tax expense (benefit) |
|
|
(351 |
) |
|
|
(781 |
) |
|
|
35 |
|
|
|
87 |
|
|
|
19 |
|
|
(1947 |
) % |
Net loss |
|
$ |
(60,598 |
) |
|
$ |
(36,807 |
) |
|
$ |
(45,730 |
) |
|
$ |
(68,554 |
) |
|
$ |
(12,838 |
) |
|
372 |
% |
Loss per share - basic and diluted |
|
$ |
(0.11 |
) |
|
$ |
(0.07 |
) |
|
$ |
(0.08 |
) |
|
$ |
(0.29 |
) |
|
$ |
(0.10 |
) |
|
10 |
% |
TPV (in millions) |
|
$ |
36,626 |
|
|
$ |
33,046 |
|
|
$ |
27,569 |
|
|
$ |
26,520 |
|
|
$ |
23,998 |
|
|
53 |
% |
Adjusted EBITDA |
|
$ |
(10,453 |
) |
|
$ |
1,162 |
|
|
$ |
(4,939 |
) |
|
$ |
(10,637 |
) |
|
$ |
1,647 |
|
|
(735 |
) % |
Adjusted EBITDA margin |
|
|
(6 |
) % |
|
|
1 |
% |
|
|
(4 |
) % |
|
|
(9 |
) % |
|
|
2 |
% |
|
(8) pps |
|
Financial condition: |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Cash and cash equivalents |
|
$ |
1,197,257 |
|
|
$ |
1,247,581 |
|
|
$ |
1,260,220 |
|
|
$ |
1,579,287 |
|
|
$ |
247,630 |
|
|
383 |
% |
Restricted cash |
|
$ |
7,800 |
|
|
$ |
7,800 |
|
|
$ |
7,800 |
|
|
$ |
7,800 |
|
|
$ |
7,800 |
|
|
— |
% |
Marketable securities |
|
$ |
447,046 |
|
|
$ |
452,875 |
|
|
$ |
408,954 |
|
|
$ |
105,053 |
|
|
$ |
140,145 |
|
|
219 |
% |
Total assets |
|
$ |
1,793,483 |
|
|
$ |
1,830,378 |
|
|
$ |
1,783,142 |
|
|
$ |
1,780,324 |
|
|
$ |
481,803 |
|
|
272 |
% |
Total liabilities |
|
$ |
249,851 |
|
|
$ |
256,952 |
|
|
$ |
209,802 |
|
|
$ |
194,338 |
|
|
$ |
193,497 |
|
|
29 |
% |
Redeemable preferred stock |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
501,881 |
|
|
(100 |
) % |
Stockholders' equity (deficit) |
|
$ |
1,543,632 |
|
|
$ |
1,573,426 |
|
|
$ |
1,573,340 |
|
|
$ |
1,585,986 |
|
|
$ |
(213,575 |
) |
|
(823 |
) % |
pps = percentage points |
|||||||||||||||||||||||
Маркета, Инк. Сверка показателей GAAP с показателями, НЕ относящимися к GAAP (в тысячах) (неаудировано)
Информация О Мерах, Не Относящихся К GAAP
В дополнение к финансовым показателям, подготовленным в соответствии с общепринятыми принципами бухгалтерского учета в Соединенных Штатах (“GAAP”), настоящий пресс-релиз содержит некоторые финансовые показатели, не относящиеся к GAAP. Marqeta рассматривает Скорректированную EBITDA и Скорректированную рентабельность по EBITDA в качестве дополнительных показателей деятельности компании, которые не требуются и не представлены в соответствии с GAAP.
Мы определяем скорректированную EBITDA как чистую прибыль (убыток), скорректированную с учетом износа и амортизации; расходы на компенсацию на основе акций; налог на заработную плату, связанный с компенсацией на основе акций; расходы на юридическую, финансовую и налоговую экспертизу, связанные с потенциальными приобретениями; расходы (льготы) по налогу на прибыль; и прочие расходы (доходы) нетто, который состоит из изменений справедливой стоимости подлежащих погашению конвертируемых обязательств по гарантиям на привилегированные акции (за периоды, предшествующие IPO), реализованных прибылей и убытков в иностранной валюте, процентных доходов по нашим рыночным ценным бумагам, нашей доли в прибыли или убытке от инвестиций по методу долевого участия и обесценения инвестиций по методу долевого участия или других финансовых инструментов. Мы считаем, что скорректированный показатель EBITDA является важным показателем операционной эффективности, поскольку он позволяет руководству и нашему совету директоров оценивать и сравнивать наши основные операционные результаты, включая нашу операционную эффективность, от периода к периоду. Кроме того, мы используем скорректированную EBITDA в качестве входных данных при расчете определенных ежегодных планов премирования сотрудников.
Скорректированная рентабельность по EBITDA рассчитывается как скорректированная EBITDA, деленная на чистую выручку. Этот показатель используется руководством и нашим советом директоров для оценки нашей операционной эффективности.
Скорректированный показатель EBITDA и Скорректированная рентабельность по EBITDA не должны рассматриваться изолированно или истолковываться как альтернатива чистому убытку или любым другим показателям эффективности, полученным в соответствии с GAAP, или как альтернатива денежному потоку от операционной деятельности, или как показатель ликвидности компании. Кроме того, другие компании могут рассчитывать скорректированную EBITDA иначе, чем Marqeta, что ограничивает ее полезность при сравнении финансовых результатов Marqeta с результатами других компаний.
В следующей таблице приведены результаты Marqeta по GAAP, сверенные с результатами, не относящимися к GAAP, включенными в этот выпуск:
|
Three Months Ended March 31, |
||||||
|
2022 |
|
2021 |
||||
GAAP net revenue |
$ |
166,102 |
|
|
$ |
107,983 |
|
GAAP net loss |
$ |
(60,598 |
) |
|
$ |
(12,838 |
) |
GAAP net loss margin |
|
(36 |
) % |
|
|
(12 |
) % |
|
|
|
|
||||
GAAP net loss |
$ |
(60,598 |
) |
|
$ |
(12,838 |
) |
Depreciation and amortization expense |
|
979 |
|
|
|
907 |
|
Share-based compensation expense |
|
37,005 |
|
|
|
11,392 |
|
Payroll tax expense related to share-based compensation |
|
835 |
|
|
|
— |
|
Other expense (income), net |
|
11,677 |
|
|
|
2,167 |
|
Income tax expense (benefit) |
|
(351 |
) |
|
|
19 |
|
Adjusted EBITDA |
$ |
(10,453 |
) |
|
$ |
1,647 |
|
Adjusted EBITDA Margin |
|
(6 |
) % |
|
|
2 |
% |
Сверка скорректированной EBITDA с сопоставимым показателем GAAP за второй квартал 2022 года недоступна из-за трудностей и невозможности оценки некоторых статей, поскольку такие статьи не могут быть разумно предсказаны и могут быть значительными. Из-за этих проблем выверка таких прогнозных финансовых показателей, не относящихся к GAAP, невозможна без необоснованных усилий.
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