Marqeta Backs Klarna Card’s 15‑Country European Rollout as Q3 Profitability Surges

Overview

• Marqeta said it is working with Klarna to extend the Klarna Card into 15 additional European markets using Visa’s Flexible Credential to let customers choose pay now or pay later on a single debit card.
• Q3 results showed net revenues of $163 million, up 28% year over year, with net loss narrowing 87% to $3.6 million and adjusted EBITDA reaching $30 million.
• For Q4, the company guided to revenue growth of 22% to 24%, gross profit up 17% to 19%, and an adjusted EBITDA margin increase of 15% to 16%.
• Shares rose 8.93% to $4.88 after the earnings release, then declined 6.6% the next day following a UBS price target cut to $5 with a Neutral rating.
• Marqeta noted it was the first U.S. issuer processor certified for Visa Flexible Credential in July 2024, positioning its platform to help Klarna launch quickly across multiple markets.