Marqeta Announces Visa Veteran Mike Milotich as New CFO, Raises Expectations for Fourth Quarter 2021 Financial Results|||

Post-obit 10 years at Visa, Mike Milotich will join Marqeta as Chief Financial Officer, overseeing the adjacent affiliate of Marqeta’s scale and growth

OAKLAND, Calif.–(BUSINESS WIRE)–Marqeta (NASDAQ: MQ), the global modern card issuing platform, announced the engagement of Mike Milotich equally the visitor’s new Chief Financial Officer, constructive February 22, 2022.

Milotich joins Marqeta following a decade-long tenure at Visa in various fiscal leadership positions, about recently serving as Senior Vice President of Investor Relations and Corporate Finance. He has more than than 20 years of experience in corporate finance, the majority of which falls in payments and fiscal services. He has also held leadership positions at American Express and PayPal.

Tripp Faix, the visitor’southward approachable Chief Financial Officer, has decided to step downwardly to spend more time with family after 3 and a half years in his office. Mr. Faix volition continue in an advisory role until March 31, 2022, to ensure a smooth transition of the CFO position at Marqeta and participate in Marqeta’s upcoming conference call to talk over its fourth quarter and full yr financial 2021 financial results, ready for March ix, 2022.

“Having spent the terminal ten years at Visa, I had a front row seat to the ascent of Marqeta and the innovations they’ve opened upwards globally with their modernistic carte du jour issuing platform,” said Mike Milotich. “After spending fourth dimension with Jason and the executive team, I was impressed by both how well they’d scaled to date and the massive opportunity in global money move that lies alee of them. I look forward to joining the team and helping to guide the next chapter of the company’s growth.”

“After a thorough executive search, information technology was clear that Mike’south deep payments experience makes him an excellent fit for Marqeta. He has a corking appreciation for the possibilities in front of us as a company. We look forrard to welcoming him to the Marqeta community,” said Jason Gardner, Marqeta’s Founder and CEO. “On behalf of our board, leadership team, and all Marqetans, I desire to give thanks Tripp for his tireless dedication to Marqeta and the instrumental office he had in putting a corporate foundation in place that guided u.s.a. through our IPO and two major private fundraising rounds. He will always be a friend, and nosotros wish him all the best in his future endeavors.”

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Preliminary Fourth Quarter 2021 Financial ResultsIn its third-quarter earnings release dated November 10, 2021, Marqeta provided financial guidance for cyberspace revenue and adjusted EBITDA for the fourth quarter ending December 31, 2021. In light of college-than-expected processing volumes, the Company expects to outperform the previously announced guidance for both its net revenue and adjusted EBITDA for the fourth quarter. The Visitor will release its bodily results for the fourth quarter and full year of 2021 on March 9, 2022.

The preliminary estimated financial performance for the fourth quarter ended December 31, 2021 discussed above is subject to the completion of our fiscal endmost procedures. Our management is responsible for these endmost procedures. Our independent registered public bookkeeping business firm has not audited, reviewed or performed any procedures with respect to the accompanying preliminary estimated financial performance, and accordingly does non express an opinion or any other form of assurance with respect thereto. Our estimated preliminary financial functioning could differ materially from our actual results of operations due to the completion of our financial closing procedures, last adjustments and other developments that may ascend betwixt now and the time at which we issue our audited consolidated financial statements.

About MarqetaMarqeta’due south modern card issuing platform empowers its customers to create customized and innovative payment cards. Marqeta’s platform, powered by open APIs, gives its customers the ability to build more than configurable and flexible payment experiences, accelerating product evolution and democratizing access to carte du jour issuing engineering science. Its modernistic architecture provides instant access to highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their ain card programs, issue cards and qualify and settle transactions. Marqeta is headquartered in Oakland, California and is enabled in 39 countries globally. For more information, visit www.marqeta.com, Twitter and LinkedIn.

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Forward-Looking StatementsThis press release contains “frontward-looking statements” inside the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forrad-looking statements expressed or implied in this press release include, only are non limited to, quotations and statements relating to Marqeta’due south preliminary financial results for the quarter catastrophe Dec 31, 2021, business concern opportunities and plans, business concern strategy and Marqeta’s continued success and growth. Bodily results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, just not limited to, the following: any factors creating bug with the result of uncertainties related to the global COVID-19 pandemic on U.Southward. and global economies, our business, results of operations, financial condition, demand for our platform, sales cycles and customer retention; the run a risk that Marqeta is unable to further attract, retain, diversify, and expand its customer base; the hazard that Marqeta is unable to drive increased TPV on its platform; the risk that consumers and customers will not perceive the benefits of Marqeta’s products equally Marqeta expects; the adventure that Marqeta’s technology platform, including hosted solutions, do not operate as intended resulting in organisation outages; the risk that Marqeta will not exist able to achieve the cost structure that Marqeta currently expects; the risk that Marqeta’s solution will not achieve the expected market credence; the risk that competition could reduce expected demand for Marqeta’s services; the chance that changes in the regulatory landscape adversely affects the gross interchange or other acquirement Marqeta earns or adversely affects the banking concern and network costs Marqeta incurs; and the risk that Marqeta may be field of study to boosted risks such as currency fluctuations due to its international business activities. Detailed information virtually these risks and other factors that could potentially impact Marqeta’s business, financial condition and results of operations are included in the “Take a chance Factors” disclosed in Marqeta’s Quarterly Report on Grade 10-Q for the quarterly period ended September thirty, 2021, as such hazard factors may be updated from time to time in Marqeta’due south periodic filings with the SEC, available at
world wide web.sec.gov
and Marqeta’due south website at
http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims whatsoever obligation to update any forwards-looking statements, except as required past law.

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