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MARQETA MARQETA SECOND QUARTER EARNINGS REPORT SHOWS 76 PERCENT JUMP IN NET REVENUE , DRIVEN BY CUSTOMER GROWTH The global modern card issuing platform issued its first earnings report as a public company , showing net revenue of $ 122 million , up 76 percent year - over - year , with 76 percent growth in total processing volume and a 70 percent increase in gross profit . Oakland , California - August 11 , 2021 - Marqeta , Inc. ( NASDAQ : MQ ) , a leading modern card issuing platform , today reported financial results for the second quarter ended June 30 , 2021 . Marqeta reported net revenue was $ 122 million , with total processing volume ( TPV ) of $ 26.5 billion , both increases of 76 % from the same quarter of 2020. The company saw gross profit of $ 47 million during the quarter , up 70 % from the same quarter of 2020. Marqeta reported a GAAP net loss of $ 68.6 million and Adjusted EBITDA of $ ( 10.6 ) million for the quarter ended June 30 , 2021 . " Our earnings demonstrate an enormous appetite for modern card issuing , demand across diverse industries and rapid growth with our customers , " said Jason Gardner , Founder and CEO of Marqeta . Marqeta's second quarter earnings growth was underscored by several key business updates : • • Marqeta announced that it had been chosen by Google to power the launch of a digital card for Google Pay balance users . Marqeta continues to see strong growth from the Buy Now , Pay Later vertical , where it supports the majority of the leading innovators . During the quarter ended June 30 , 2021 , net revenue for this vertical increased 350 % compared to the same quarter in 2020 . In July , Marqeta extended its agreement with Affirm , a Buy Now , Pay Later category leader , through January 2024 , showing the long term commitment its customers are making to build and scale on its platform . Marqeta added two key leaders with deep experience to drive the next chapter of Marqeta's growth : Darren Mowry , formerly leading AWS's business in EMEA , joined as CRO , while Randy Kern , a technology leader with Salesforce , joined as CTO . 1