Marqeta Inc-A 2025年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedMarch31, 2025 OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF For the transition period from __________ to __________ Marqeta, Inc. (State or other jurisdiction of incorporation or organization)180 Grand Avenue,6th Floor,Oakland,California (Address of principal executive offices) Non-accelerated filer☐Smaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Note About Forward-Looking StatementsPart I - Financial Information Quantitative and Qualitative Disclosures About Market Risk This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federalsecurities laws, which are statements that involve substantial risks and uncertainties. Forward-looking statementsgenerally relate to future events or our future financial or operating performance. In some cases, you can identifyforward-lookingstatements because they contain words such as“may,”“will,”“shall,”“should,” similarterms or expressions that concern our expectations,strategy,plans or intentions.Forward-lookingstatements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about:•uncertainties related to U.S. and global economies and the effect on our business, results of operations,and financial condition;•our future financial performance and any fluctuations in such performance, including our net revenue,costs of revenue, gross profit, and operating expenses, and our ability to achieve future profitability;•our ability to scale new products and services, such as our credit card platform;•our ability to effectively manage or sustain our growth and expand our operations;•our ability to enhance our platform and services and develop and expand our capabilities; 3 primarily on our current expectations and projections about future events and trends that we believe may affectour business, results of operations, financial condition, and prospects. The outcome of the events described inthese forward-looking statements is subject to risks, uncertainties, and other factors described or incorporatedby reference in the section titled “Risk Factors” and elsewhere in this Quarterly Report on Form 10-Q and inour most recently filed Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “2024 Net cash provided by investing activitiesCash flows from financing activities: Proceeds from exercise of stock options, including early exercised stock options, net ofrepurchase of early exercised unvested options1,444 Net cash used in financing activities(116,967)Net decrease in cash, cash equivalents, and restricted cash(92,119)Cash, cash equivalents, and restricted cash- Beginning of period931,516 8 Cash and cash equivalentsRestricted cash Total cash, cash equivalents, and restricted cash$839,397$Supplemental disclosures of non-cash investing and financing activities:Purchase of property and equipment accrued and not yet paid$1,142$Share-based compensation capitalized to internal-use software$2,522$ 1.Business Overview and Basis of Presentation Marqeta, Inc. (“the Company”) was incorporated in the state of Delaware in 2010 and creates digital paymenttechnology for innovation leaders. The Company's modern card issuing platform empowers its customers to with generally accepted accounting principles in the United States of America (“GAAP”) and the applicablerules and regulations of the Securities and Exchange Commission, (“SEC”), for interim reporting. Certain informationand note disclosures included in the Company’s annual financial statements prepared inaccordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The Condensed ConsolidatedBalance Sheet as of December 31,2024 has been derived from the Company’s audited ReclassificationsPrior period amounts related to our Executive Chairman Long-Term Performance Award have been reclassified toconform to the current period presentation. Use of Estimates The preparation of the financial statements in conformity with GAAP requires management to make variousestimates and assumptions relating to reported amounts of assets and liabilities, disclosure of contingentliabilities, and reported amounts of revenue and expenses. Significant estimates and assumptions include, butare not limited to, the fair value and useful lives of assets acquired and liabilities assumed through business these estimates. 10 Business Risks and Uncertainties June 30, 2024. The Company had an accumulated deficit of $806.2million as of March31, 2025. The Companyexpects to incur net losses from operations for the forese