Latest news with #Perpay
Yahoo
11-06-2025
- Business
- Yahoo
MQ Q1 Earnings Call: Product Migrations and Platform Expansion Offset Guidance Shortfall
Leading edge card issuer Marqeta (NASDAQ: MQ) reported Q1 CY2025 results beating Wall Street's revenue expectations , with sales up 17.9% year on year to $139.1 million. On the other hand, next quarter's revenue guidance of $140.3 million was less impressive, coming in 3.8% below analysts' estimates. Its non-GAAP loss of $0 per share was 93.1% above analysts' consensus estimates. Is now the time to buy MQ? Find out in our full research report (it's free). Revenue: $139.1 million vs analyst estimates of $135.8 million (17.9% year-on-year growth, 2.4% beat) Adjusted Operating Income: $14.75 million vs analyst estimates of -$29.34 million (10.6% margin, significant beat) Revenue Guidance for Q2 CY2025 is $140.3 million at the midpoint, below analyst estimates of $145.8 million Operating Margin: -13.3%, up from -42.3% in the same quarter last year Market Capitalization: $2.57 billion Marqeta's first quarter performance was shaped by ongoing momentum in customer migrations and platform breadth, as management highlighted. Interim CEO and CFO Mike Milotich pointed to accelerated migrations, including Klarna and Perpay, as evidence of the company's ability to win established programs seeking modern processing capabilities. The quarter also reflected progress in expanding non-block (non-Square/Block) customer volumes, with TPV (Total Processing Volume) for non-block clients growing at more than twice the company average. Milotich credited successful launches in Europe, such as with Bitpanda, and the deepening of capabilities—like the UX Toolkit—for supporting this growth. He noted, 'Perpay had already found product market fit and a significant client base. However, they were looking to switch from their processing provider to one that had more sophisticated, scalable, and responsive capabilities.' Looking ahead, Marqeta's guidance incorporates both the impact of a renegotiated platform partner agreement and continued investment in innovation and product launches. Milotich stated that while the revised agreement lowers reported revenue, it does not impact gross profit, keeping the company's underlying business trajectory intact. He emphasized ongoing expansion in Europe, the planned integration of TransactPay, and the ramp of new credit and debit programs as key growth drivers for the year. Addressing potential macroeconomic risks, Milotich cautioned, 'We are assuming consistent macroeconomic conditions for the remainder of the year, but noting the risk.' Management reiterated that gross profit projections remain steady despite uncertainties and that adjusted EBITDA margin guidance has been raised due to ongoing expense discipline and operational efficiencies. Management linked the quarter's revenue growth and margin improvements to new program wins and the company's ability to execute complex card migration projects. The renegotiation of a platform partner agreement also affected reported revenue but improved profitability. Customer migration capability: Marqeta completed notable migrations, including Klarna and Perpay, demonstrating the platform's ability to onboard existing credit and debit programs from other providers. These projects were highlighted as critical to attracting more established brands seeking advanced issuer processing. European expansion and acquisitions: The company continued to see strong TPV growth in Europe, with the Bitpanda program launching across 26 countries in 10 currencies. Management expects the pending acquisition of TransactPay to enhance its European program management offerings, facilitating seamless cross-border solutions for clients. Product innovation focus: Marqeta introduced its UX Toolkit, a set of pre-built user interface components optimized for regulatory compliance, to accelerate customer onboarding and product launches. The company also announced plans for a white-label app to further reduce time-to-market for new card programs. Diversification away from block: Non-block customer volumes and gross profit grew much faster than block-related business, driven by neobanking, lending, and expense management use cases. Management noted that TPV growth among customers outside the top five outpaced the company average, indicating broader adoption. Expense discipline and operational scale: Adjusted operating expenses grew only modestly, reflecting continued hiring discipline and geographic talent sourcing. Margin expansion was attributed to operating leverage and a favorable mix shift toward higher-margin products and customers. Marqeta expects growth to be driven by expanded platform capabilities, new customer migrations, and continued European momentum, while monitoring macroeconomic risks and customer spending trends. Platform expansion and migrations: Management believes that expertise in migrating established card programs will position the company to capture more business from traditional issuers and large brands. The planned launch of additional credit and commercial programs is expected to support volume growth in late 2025 and beyond. European market and acquisitions: The anticipated close of the TransactPay acquisition is seen as a catalyst for further European growth. Management expects that program management capabilities, now in demand from multinational clients, will increase cross-border adoption and drive new business. Macroeconomic and regulatory factors: While guidance assumes stable economic conditions, management acknowledged the risk of deterioration in customer spending or delays in program launches. Potential shifts in financial regulation or consumer behavior could impact the pace of growth, but Marqeta's exposure to less discretionary spending categories may help mitigate downside risk. Over the next few quarters, the StockStory team will be monitoring (1) the pace and success of additional program migrations, especially in credit and commercial segments, (2) progress on closing the TransactPay acquisition and scaling European program management, and (3) the rollout and adoption of new product offerings such as the white-label app and expanded risk and rewards features. The ability to sustain non-block growth and navigate macroeconomic uncertainty will also be closely watched. Marqeta currently trades at a forward price-to-sales ratio of 4.5×. At this valuation, is it a buy or sell post earnings? See for yourself in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today.


Business Wire
07-05-2025
- Business
- Business Wire
Perpay Taps Marqeta To Power Consumer Credit Card
BUSINESS WIRE)--Marqeta, Inc. (NASDAQ: MQ), the global modern card issuing platform that enables embedded finance solutions for the world's innovators, today announced it has been selected by Perpay to power the Perpay Credit Card (issued by Celtic Bank), an unsecured credit card designed to help people build or improve their credit by automating payments directly from a paycheck. Perpay migrated to Marqeta's modern credit card platform to build a credit card experience that helps meet its goal of enabling customers to get the most out of every paycheck. The Perpay Credit Card allows users to directly link their paychecks, ensuring their card balance is paid automatically and helping them stay on top of their financial commitments and build their credit. To expand its credit card offering, Perpay needed a card issuing platform with the speed and flexibility to reach more consumers and elevate the user experience. By deploying the Marqeta platform, Perpay can scale its credit card offering while maintaining full control over the user experience and access in-depth customer insights and modern credit capabilities to drive more meaningful interactions with customers. Perpay's migration to Marqeta's platform highlights the increasing demand for modern credit solutions that offer the scalability and flexibility to truly meet the needs of end users. 'Perpay is on a mission to help people access vital spending power and build credit, and we needed an issuing partner who could keep pace,' said Chris DiMarco, CEO of Perpay. 'By migrating our credit card offering to Marqeta, we're delivering a smoother, more personalized experience that scales with our growth and gives customers the flexibility they deserve.' Marqeta's all-in-one credit platform allows Perpay to deliver a fully integrated digital-first cardholder experience that aligns with Perpay's brand. Perpay can unify and customize every touchpoint, from application to card issuance to everyday spending and account access, to foster deeper engagement and loyalty. Marqeta's platform allows Perpay to instantly issue virtual and tokenized cards for immediate use and access real-time cardholder data and spend controls that provide insights into how users are spending their money to help them stay on top of their finances. Additionally, Marqeta's flexible rewards engine allows Perpay to enhance its rewards offerings, accessing individual spend data and insights to offer personalized rewards that help users earn more to spend within Perpay's marketplace and keep customers engaged. 'The Perpay Credit Card stands out as a noteworthy example of how Marqeta makes it possible to meticulously craft a credit card to meet consumer needs,' said Todd Pollak, Chief Revenue Officer of Marqeta. 'By tapping into the full potential of our credit platform, Perpay is able to customize its credit card experience and expand its offering to deliver greater value to its customers.' About Marqeta (NASDAQ: MQ) Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta's platform has been proven at scale, processing nearly $300 billion in annual payments volume in 2024. Marqeta is certified to operate in more than 40 countries worldwide. Visit to learn more. About Perpay Perpay exists to make paychecks work harder for the people who earn them. As a mission driven company, Perpay helps working Americans with non-prime credit scores purchase what they need and build credit through automatic payments from their paycheck. Perpay's products are designed with the customer in mind, and are meant to reduce financial stress and expand economic access. 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, quotations and statements relating to changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta's business; Marqeta's products and services; and statements made by Marqeta's senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: any factors creating issues with changes in domestic and international business, market, financial, political and legal conditions; and those risks and uncertainties included in the 'Risk Factors' disclosed in Marqeta's Annual Report on Form 10-K, as may be updated from time to time in Marqeta's periodic filings with the SEC, available at and Marqeta's website at 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.


Technical.ly
06-05-2025
- Business
- Technical.ly
This Week in Jobs: The mother of all career roundups with 26 tech opportunities
Mother's Day is this coming Sunday — and this year happens to be the 100th anniversary of a notable Mother's Day in history. Often considered a commercial 'Hallmark holiday,' Mother's Day was not, in fact, invented by the greeting card company, or the floral industry that does about a quarter of its business for the year on the day. It was first started in the US by a woman named Julia Ward Howe, whose precursor to modern Mother's Day, 'Mothers' Peace Day,' was created in the 1870s as an anti-war holiday. In 1908, a woman's activist named Anna Jarvis held the first organized Mother's Day celebration in honor of her own late mother, also an activist, in Philadelphia in 1908. It became a national holiday in 1914. Jarvis was far from a greedy company profiting from Mother's Day — in fact, by 1922, she was boycotting floral companies for raising the price of carnations in May. Then, on Mother's Day 1925, Jarvis crashed a convention of the American War Mothers, protesting what she saw as exploitation of the holiday to make money. Needless to say, Jarvis lost the war against commercializing the holiday. Whether it's a holiday you observe or not, it's a good day to remember that not everything is as it seems. In the meantime, check out this week's job listings below. The News If you want to make connections in your local tech community, you'll want to know these folks — 2025 RealLIST Connectors for Philly, DC, Baltimore and Pittsburgh are out now. Philly Tech Week is here! But that's not the only community event this month — check out this roundup of virtual and in-person gatherings across the mid-Atlantic and keep busy all May. Speaking of Philly Tech Week, here are some of the fantastic folks you can expect to meet at the Builders Conference on May 8-9. Learn how AI is both wiping out and creating jobs in Pittsburgh. Don't park in the bus lane: SEPTA and the Philadelphia Parking Authority are adopting AI to enforce parking regulations in the city. Immigrant entrepreneurs and workers in the mid-Atlantic discuss how things are going for them in 2025. Join the University of Pennsylvania tomorrow, Wednesday May 7, for a panel discussion exploring the balance between AI advancements and responsible development. Client Spotlight Step into Perpay's Center City Philadelphia office and experience a space designed for comfort and collaboration. With floor-to-ceiling windows, cozy meeting rooms, and a chef's kitchen stocked with daily breakfasts and weekly catered lunches, Perpay makes it easy to spend your day there. Learn more about Perpay's culture and explore career opportunities. The Jobs Greater Philly Vanguard has several new listings: Machine Learning Engineer Public Relations Consultant, Senior Specialist Senior Data Analyst – Python, SQL & Tableau Lead Data Analyst – Python, SQL & Tableau Senior Front-End Developer – GenAI Brooksource needs a Junior Data Engineer and a Business Analyst. Comcast is seeking a Full Stack Developer (React/Django). Forbes Advisor is looking for an SEO Director. The City of Philadelphia is hiring a Help Desk Analyst. DC + Baltimore PRS Guitars is looking for a Creative Project Coordinator. T-Mobile needs a Graphic Designer. Environmental Working Group has a listing for a Digital Marketing Copywriter. IKEA needs a Local Marketing Specialist in Baltimore. Under Armor is hiring a hybrid Presentation Designer. Pittsburgh Grey Swan AI wants a new Operations Manager. PNC needs a Software Engineer. Oculus VR is seeking a Unity Software Engineer iHeartMedia has an opening for a Regional Engineer. Aurora is hiring a Software Engineer II. Remote The End Till next time, may your job hunt be a success.