Marqeta (MQ) Reports Q4: Everything You Need To Know Ahead Of Earnings
Leading edge card issuer Marqeta (NASDAQ: MQ) will be announcing earnings results tomorrow after market hours. Here's what investors should know.
Last quarter Marqeta reported revenues of $108.9 million, down 43.2% year on year, beating analyst revenue expectations by 14.1%. It was an incredible quarter for the company, with a significant improvement in its gross margin and an impressive beat of analysts' revenue estimates.
Is Marqeta buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Marqeta's revenue to decline 45.9% year on year to $110.4 million, a deceleration on the 31.1% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.08 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 6%.
Looking at Marqeta's peers in the finance and HR software segment, some of them have already reported Q4 earnings results, giving us a hint what we can expect. Workday delivered top-line growth of 16.7% year on year, beating analyst estimates by 0.3% and Asure reported revenue decline of 10.3% year on year, missing analyst estimates by 0.2%. Workday traded down 5% on the results, and Asure was down 1.2%.
Read our full analysis of Workday's results here and Asure's results here.
Investors in the finance and HR software segment have had steady hands going into the earnings, with the stocks down on average 1.5% over the last month. Marqeta is up 2.7% during the same time, and is heading into the earnings with analyst price target of $7.4, compared to share price of $6.8.
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