Marqeta Sinks 25%+ After-Hours on Q3 Revenue Miss and Larger-Than-Expected Loss

MQ fell 25.6% to $4.43 shortly before 4:30 p.m. ET after reporting a $0.06 loss per share – one cent worse than analysts had reportedly expected, although narrower than the $0.10 in red ink the firm saw in the same period last year.

Revenue came in at $127.97 million, slightly missing the $128.08 million that analysts had forecast, but up 18% year over year. Marqeta also said total processing volume (TPV) rose 30% y/y to $74 billion.

"In the third quarter, our true growth trajectory was back on display," CEO Simon Khalaf said in releasing the latest numbers.

MQ also guided Q4 to a 10%-12% revenue gain, 13%-15% increase in gross profits and an adjusted EBITDA margin of 5%-7%.