$MQ
Marqeta Inc

2023 Q2 Form 10-Q Financial Statement

#000162828023028284 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $231.1M $217.3M $203.8M
YoY Change 23.8% 30.85% 31.14%
Cost Of Revenue $146.5M $128.2M $116.7M
YoY Change 34.87% 40.28% 46.56%
Gross Profit $84.61M $89.16M $87.12M
YoY Change 8.4% 19.32% 14.94%
Gross Profit Margin 36.61% 41.02% 42.75%
Selling, General & Admin $133.3M $154.8M $120.3M
YoY Change 26.1% 44.95% 21.79%
% of Gross Profit 157.52% 173.6% 138.05%
Research & Development $13.15M $14.59M
YoY Change 0.0% 28.16%
% of Gross Profit 15.55% 16.36%
Depreciation & Amortization $2.494M $1.980M $1.019M
YoY Change 177.11% 98.0% 5.38%
% of Gross Profit 2.95% 2.22% 1.17%
Operating Expenses $154.0M $176.6M $141.4M
YoY Change 23.46% 42.42% 24.59%
Operating Profit -$69.42M -$87.43M -$54.32M
YoY Change 48.6% 77.45% 43.98%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $10.76M $11.67M $28.47M
YoY Change 497.23% -199.96% 19947.89%
Pretax Income -$58.66M -$75.76M -$25.86M
YoY Change 30.6% 24.3% -31.21%
Income Tax $100.0K -$6.960M $471.0K
% Of Pretax Income
Net Earnings -$58.80M -$68.80M -$26.33M
YoY Change 31.54% 13.54% -28.48%
Net Earnings / Revenue -25.44% -31.66% -12.92%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.11 -$0.13 -$0.05
COMMON SHARES
Basic Shares Outstanding 538.3M shares 539.7M shares
Diluted Shares Outstanding 538.3M shares 539.7M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.383B $1.459B $1.641B
YoY Change -15.95% -11.41% -3.5%
Cash & Equivalents $950.2M $1.050B $1.200B
Short-Term Investments $432.4M $408.7M $440.9M
Other Short-Term Assets $38.34M $41.23M $6.871M
YoY Change 592.66% 898.21% 54.37%
Inventory
Prepaid Expenses $9.082M
Receivables $15.39M $14.07M $15.57M
Other Receivables $77.58M $70.62M $42.66M
Total Short-Term Assets $1.514B $1.585B $1.747B
YoY Change -13.17% -9.93% -2.89%
LONG-TERM ASSETS
Property, Plant & Equipment $22.11M $19.07M $7.440M
YoY Change 155.86% 109.1% -23.2%
Goodwill $123.4M $0.00
YoY Change
Intangibles $0.00
YoY Change
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $44.77M $46.66M $7.122M
YoY Change 555.37% 696.72% 211.55%
Total Long-Term Assets $190.3M $189.2M $23.58M
YoY Change 467.57% 460.34% -25.51%
TOTAL ASSETS
Total Short-Term Assets $1.514B $1.585B $1.747B
Total Long-Term Assets $190.3M $189.2M $23.58M
Total Assets $1.704B $1.774B $1.770B
YoY Change -4.1% -1.08% -3.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.818M $2.981M $3.798M
YoY Change 212.76% 75.56% 41.03%
Accrued Expenses $176.7M $162.6M $119.8M
YoY Change 88.06% 95.17% 26.1%
Deferred Revenue $12.97M $17.05M
YoY Change -21.67% -10.56%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $318.3M $326.3M $282.9M
YoY Change 39.31% 39.51% 18.87%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.19M $14.23M $5.477M
YoY Change 327.9% 227.46% -16.47%
Total Long-Term Liabilities $13.19M $14.23M $5.477M
YoY Change 327.9% 227.46% -16.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $318.3M $326.3M $282.9M
Total Long-Term Liabilities $13.19M $14.23M $5.477M
Total Liabilities $331.5M $340.5M $297.4M
YoY Change 36.78% 36.29% 15.74%
SHAREHOLDERS EQUITY
Retained Earnings -$729.8M -$602.2M
YoY Change 39.62% 44.26%
Common Stock $52.00K $53.00K
YoY Change -3.7% -1.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.373B $1.434B $1.473B
YoY Change
Total Liabilities & Shareholders Equity $1.704B $1.774B $1.770B
YoY Change -4.1% -1.08% -3.28%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$58.80M -$68.80M -$26.33M
YoY Change 31.54% 13.54% -28.48%
Depreciation, Depletion And Amortization $2.494M $1.980M $1.019M
YoY Change 177.11% 98.0% 5.38%
Cash From Operating Activities -$25.97M -$10.55M $14.93M
YoY Change -213.84% -77.45% -73.16%
INVESTING ACTIVITIES
Capital Expenditures $3.454M $3.609M $1.619M
YoY Change -1449.22% 489.71% -429.07%
Acquisitions $131.9M
YoY Change
Other Investing Activities -$20.74M -$94.72M $29.40M
YoY Change -16962.6% 42567.12% -144.56%
Cash From Investing Activities -$24.20M -$98.33M $27.78M
YoY Change 18091.73% 11690.17% -141.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$42.19M -$20.81M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -48.51M -24.56M -63.72M
YoY Change -14668.47% 799.16% 3461.6%
NET CHANGE
Cash From Operating Activities -25.97M -10.55M 14.93M
Cash From Investing Activities -24.20M -98.33M 27.78M
Cash From Financing Activities -48.51M -24.56M -63.72M
Net Change In Cash -98.68M -133.4M -21.01M
YoY Change -528.75% 165.15% 66.24%
FREE CASH FLOW
Cash From Operating Activities -$25.97M -$10.55M $14.93M
Capital Expenditures $3.454M $3.609M $1.619M
Free Cash Flow -$29.43M -$14.16M $13.31M
YoY Change -227.55% -70.12% -76.28%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the financial statements requires management to make estimates and assumptions relating to reported amounts of assets and liabilities, disclosure of contingent liabilities, and reported amounts of revenue and expenses. Significant estimates and assumptions include, but are not limited to, the fair value and useful lives of assets acquired and liabilities assumed through business combinations, the estimation of contingent liabilities, the estimation of variable consideration in contracts with customers, and the reserve for contract contingencies and processing errors. Actual results could differ materially from these estimates.</span></div>
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CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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mq Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Number Of Tranche
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us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
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us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2023Q2 us-gaap Available For Sale Securities Debt Securities
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CY2023Q2 ecd Rule10b51 Arr Adopted Flag
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