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>>> MARQETA MARQETA THIRD QUARTER EARNINGS REPORT SHOWS 56 PERCENT JUMP IN NET REVENUE YEAR OVER YEAR , HIGHLIGHTING STRONG , CONTINUED GROWTH In its third quarter earnings report , the global modern card issuing platform reported net revenue of $ 132 million , up 56 percent year - over - year , with 60 percent growth in total processing volume and a 67 percent increase in gross profit . OAKLAND , Calif . - November 10 , 2021 - Marqeta , Inc. ( NASDAQ : MQ ) , the global modern card issuing platform , today reported financial results for the third quarter ended September 30 , 2021 . Marqeta reported total processing volume ( TPV ) of $ 27.6 billion , with net revenue of $ 132 million . This represented an increase of 60 % and 56 % , respectively , from the same quarter of 2020. The company saw gross profit of $ 59 million during the quarter , up 67 % year - over - year . The company reported a gross margin of 45 % for the quarter ended September 30 , 2021 , up from 42 % in the same quarter of 2020 . Marqeta reported a gross margin for the first nine months of 2021 of 43 % , up from 40 % for the corresponding period of 2020. It also reported a GAAP net loss of $ 45.7 million and Adjusted EBITDA of $ ( 4.9 ) million for the quarter ended September 30 , 2021 . " Modern card issuing is at the heart of today's digital economy , and our third quarter results put that on display , both with the growth we're seeing , and the way our platform is bringing to life unique new payments use cases for an incredible array of innovators , " said Jason Gardner , Founder and CEO of Marqeta . Marqeta highlighted several recent key business updates that show off its momentum in the market : Marqeta announced significant new customers : Bill.com will leverage Marqeta's solution to help its financial institution partners and their customers to streamline their payment processes by using virtual cards , and Figure selected Marqeta to power its Figure Pay digital account which has built - in Buy Now , Pay Later ( BNPL ) functionality . Marqeta spotlighted the rise of a new category of card solutions allowing its customers ' cardholders to make purchases at the point of sale in fiat currency using their cryptocurrency wallets , or earn cryptocurrency rewards on their spending , with category leaders Coinbase , Fold , Shakepay and Bakkt all leveraging its modern card issuing platform . The Marqeta platform supported the launch of new card programs from existing major customers : Uber Freight launched a unique driver card for its carriers , which lets carriers get paid out for their earnings 99.7 % faster than the industry standard . Marqeta's European business continues to show strong growth . The number of transactions processed by Marqeta's European customers in the third quarter of 2021 increased by over 340 % year - over - year . Similarly , since September 30 , 2020 , Marqeta has doubled its European customer base . Marqeta continued to expand its product and partner ecosystem . After launching its first credit program in the second quarter of this year , Marqeta continued to onboard new credit card programs , with M1 Finance going live in third quarter , and Marqeta was named as a launch partner for Mastercard's Installments Program , which builds in the tech infrastructure among payment acquirers to support BNPL programs . 1