The news: Marqeta’s shares tumbled 30% after the company released weak Q3 earnings.
- Marqeta’s net loss increased 48% YoY, totaling $28.64 million.
- Net revenues increased 18% YoY in Q3. But it lowered its revenue forecast for Q4 to 10%-12% YoY from 16%-18% YoY.
The company’s stock is now more than 80% below its peak in 2021.