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Marqeta , Inc. (NASDAQ:MQ), a leading company in the prepackaged software industry with a market capitalization of $2 billion and a robust gross margin of 69.4%, has announced the departure of two board members and the appointment of two new ones, according to a recent SEC filing. According to InvestingPro analysis, the company appears slightly undervalued at its current price of $3.92. Godfrey Sullivan and Helen Riley have both notified the Board of their intentions to resign, effective at the Annual Meeting of Shareholders on June 12, 2025. Their resignations are not due to any disagreements regarding the company’s operations, policies, or practices.
Sullivan, who has served for four years, and Riley, who has been on the board for five years, are both members of the Board’s Audit Committee. The company expressed gratitude for their service and dedication. With a healthy current ratio of 3.37 and minimal debt-to-equity ratio of 0.01, the company maintains strong financial fundamentals under their oversight.
In anticipation of these departures, the Board has appointed Wendy Thomas as a Class I member and Elaine Paul as a Class III member, with both starting their terms on April 18, 2025. In addition to their roles on the Audit Committee, Paul will join the Nomination and Governance Committee, and Thomas will be part of the Payments Innovation Committee.
The company clarified that there are no arrangements or understandings between the newly appointed members and any other persons that influenced their selection. Furthermore, there are no family relationships between the new appointees and any directors or executive officers of the company, nor have there been any transactions requiring disclosure under SEC regulations.
Both Thomas and Paul will receive compensation as non-employee directors according to the company’s amended policy, which is detailed in the annual report filed on February 26, 2025. They will also enter into standard indemnification agreements with Marqeta, as is customary for the company’s directors.
The information provided in this article is based on a press release statement. For deeper insights into Marqeta’s governance structure and comprehensive financial analysis, including 10 additional ProTips and detailed metrics, visit InvestingPro, where you’ll find expert research reports covering 1,400+ top US stocks.
In other recent news, Marqeta Inc. reported its fourth-quarter 2024 earnings, revealing a revenue of $136 million, which surpassed the forecasted $132.31 million. The company met its earnings per share (EPS) estimate of -$0.05, showcasing robust performance in total processed volume, which grew 29% year-over-year. Marqeta’s gross profit stood at $98 million, marking an 18% increase from the previous year, with a gross margin of 72%. The company highlighted strategic initiatives, including a new partnership with American Express (NYSE:AXP) and the acquisition of TransactPay, as part of its growth strategy.
Analysts at Mizuho (NYSE:MFG) have raised the price target for Marqeta’s shares to $6.00 from the previous $5.00, maintaining an Outperform rating. This adjustment is attributed to Marqeta’s stronger-than-expected performance in the fourth quarter, which saw a significant improvement in gross profit. The analysts noted that Marqeta is addressing regulatory challenges effectively and introducing new programs, which contributed to the positive outlook. The company’s focus on innovation and expansion, particularly in Europe, has strengthened its position in the embedded finance market.
Looking ahead, Marqeta aims for net revenue growth of 16-18% in 2025 and targets GAAP profitability by the end of 2026. The company expects to benefit from its strategic moves and partnerships, with anticipated revenue contributions exceeding $40 million from new programs. These developments indicate a positive trajectory for Marqeta, as it continues to enhance its offerings and expand its market presence.
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