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Marqeta celebrates its initial public offering at the Nasdaq on June 9, 2021.

Source: The Nasdaq

Marqeta shares tumbled more than 30% in extended trading on Monday after the company issued weaker-than-expected guidance for the fourth quarter.

Here’s how the company did compared with Wall Street estimates, based on a survey of analysts by LSEG:

  • Loss per share: 6 cents adjusted vs. a loss of 5 cents expected
  • Revenue: $128 million vs. $128.1 million expected

While third-quarter results showed a slight disappointment on the top and bottom lines, Marqeta’s forecast for the current period was more concerning.

The payment processing firm said revenue in the fourth quarter will increase 10% to 12% from a year earlier. Analysts were looking for growth of more than 17%, according to LSEG.

Marqeta, which primarily functions as a card-issuing platform, attributed the guidance miss to “heightened scrutiny of the banking environment and specific customer program changes.” The company has been struggling for a while, and its stock is now down more than 80% from its peak in 2021, the year it went public. The stock was down 15% for the year prior to the report.

Total processing volume of $74 billion was up more than 30% from a year earlier. Net revenue and gross profit were up 18% and 24%, respectively.

Marqeta’s digital commerce business sells payment technology designed to detect potential fraud and ensure that money is properly routed. It also issues customized physical cards that look like a credit or debit card that can be used for point-of-sale purchases.

The company has been trying to break into the buy now, pay later business with a recently launched product called Marqeta Flex. The service brings BNPL from lenders such as Affirm or Klarna to any credit card wherever Mastercard and Visa are accepted.

“It’s an orchestration layer, but it’s tied to issuing and processing and disputes and chargebacks,” CEO Simon Khalaf told CNBC at Money2020 in Las Vegas last week. “So it is not actually a Wild West in BNPL. It is actually very well established. And there is a reason why a lot of people are jumping to it.”

Don’t miss these insights from CNBC PRO

Marqeta CEO on Q2 earnings, consumer trends and the end of cash

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Cybertruck backlog runs out, Model S gets stuck, GM hits a sales milestone

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Cybertruck backlog runs out, Model S gets stuck, GM hits a sales milestone

On today’s episode of Quick Charge, Tesla’s Cybertruck is now available in Canada – and, like in the US, there’s no waiting! Plus, we’ve got an “actually” smart summon Tesla that’s actually stuck, GM reaches a sales milestone, and we get a brand-new title sponsor!

Today’s episode is the first with our new title sponsor, BLUETTI – a leading provider of portable power stations, solar generators, and energy storage systems.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonusLucid proves than an EV company can keep its promises while Xiaomi teams up with Chevrolet and Honda to prove – at least conceptually – that records are made to be broken. audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news!

Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show!

Read more: Renewables now make up 30% of US utility-scale generating capacity

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This ‘supercharger on wheels’ brings fast charging to you [update]

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This 'supercharger on wheels' brings fast charging to you [update]

Mobile car care company Yoshi Mobility launched a DC fast charging EV mobile unit that it likens to “a supercharger on wheels.”

November 4, 2024 update: Yoshi Mobility will only be charging EVs on the side of the road now – it announced today that it’s selling its fleet fueling operation to EZFill Holdings (Nasdaq: EZFL).

It was originally founded as a direct-to-consumer, mobile fueling business in 2016, but now it’s going to focus on mobile EV charging, virtual vehicle inspections for partners like Uber and Turo, and onsite preventative maintenance.

Bryan Frist, Yoshi Mobility’s CEO & cofounder, said, “By spinning off our fuel business and focusing all of our energy on solving hair-on-fire problems that fleet owners face, we are meeting the changing needs of enterprise customers while making the future of transportation safer, cleaner, and more sustainable.”


May 22, 2024: Yoshi Mobility saw that its existing customers needed mobile EV charging in places where infrastructure has yet to be installed, so the Nashville-based company decided to bring the mountain to Moses.

“We recognized a demand among our customers for convenient daily charging, reliable private charging networks, and proper charging infrastructure to support their fleet vehicles as they transition to electric,” said Dan Hunter, Yoshi Mobility’s chief EV officer and cofounder.

The company says its 240 kW mobile DC fast charger, which can turn “any EV” into a mobile charging unit, is the first fully electric mobile charger available. It can provide multiple charges in a single trip but doesn’t detail how they charge the DC fast charger or who manufactured it. (I asked for more details, and they replied that they won’t disclose client names or the manufacturer of its DC fast charger yet.)

Yoshi is launching its mobile charger on two GM BrightDrop Zevo 600s and will introduce additional vehicles throughout 2024. It aims for full commercialization by Q1 2025. (I wonder if the Zevo 600 ever charges itself? Yes, I asked that too.)

Yoshi Mobility says it’s already deployed its EV charging solutions to service “major OEMs, autonomous vehicle companies, and rideshare operators” across the US. Its initial customers are made up of large EV operators managing “hundreds” of light-duty vehicles requiring up to 1 megawatt of energy per day that don’t yet have grid-connected EV chargers. I’ve asked Yoshi for details of who it’s working with, and will update if they share that info.

The company says pricing is based on location and enterprise charging needs. Once under contract for service, the service will be deployed to US-based customers within 10 days.

To date, Yoshi Mobility has raised more than $60 million, with investments from GM Ventures, Bridgestone, ExxonMobil, and Y-Combinator in Silicon Valley.

Read more: Mercedes-Benz just opened more DC fast chargers at Buc-ee’s in Texas


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Check out Ausom’s growing lineup of all-terrain E-scooters and save during upcoming sales

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Check out Ausom's growing lineup of all-terrain E-scooters and save during upcoming sales

All-terrain E-scooter developer Ausom had a busy year, debuting several new products in the US and EU. To celebrate, it is offering sales on a majority of its lineup, but only for a limited time!

Table of contents

Introducing Ausom E-scooters

Ausom is a micro-mobility developer specializing in off-road electric scooters. The company is driven by its passion for exploration, igniting the spirit of adventure in everyone who experiences its scooters. Ausom does everything it can to ensure its products are of the utmost quality.

When it comes to off-road scooter exploration, Ausom aims to deliver nothing but the best. Each of its growing line of products is equipped with tough mechanical and reliable electrical components to deliver safer ride experiences for its community of adventure enthusiasts as they explore the most challenging terrain with ease.

That entails robust electric motors and large, removable batteries that ensure seamless power delivery, unparalleled stability, and extended range. The company’s portfolio began with two flagship E-scooters, the Leopard and the Gallop, but has since expanded to five exciting products.

Ausom Scooters

The previously mentioned Leopard and Gallop E-scooters debuted in 2023 with much success, but Ausom has been busy in 2024, launching four additional variants in the US and parts of the EU.

That includes the Leopard DT1 Pro. The DT1 Pro joined the standard DT1 E-scooter in Ausom’s lineup this year but provides riders with enhanced power and speed.

That stems from two 1,000-watt motors that can jolt the DT1 Pro to a top speed of 41 mph. The Ausom E-scooter is powered by a 946.4 Wh battery pack that enables up to 47 miles of all-electric range. The DT1 Pro features 10″x3″ pneumatic tires and an SUV-level swingarm suspension for added comfort across all terrain.

Other features include a dual brake system, NFC locking capabilities, USB ports, and a spot to mount an Apple Airtag (not included) if your Ausom scooter ever goes missing. The DT1 Pro starts at $1,199 but is on sale for $1,150 for a limited time. Better still, be sure to use the exclusive coupon codes below to get a Leopard DT1 Pro for $1,099.

The Ausom DT1 Pro

Another new E-scooter that has made its way to the States this year is the new Gallop SR1, available exclusively in the United States. This new Ausom E-Scooter is propelled by two 1,000-watt brushless motors that spin 10″x3″ all-terrain tires. The motors are powered by a 20.8Ah battery that enables the Gallop SR1 to travel up to 54 miles on a single charge and reach a blistering top speed of 41 mph.

Other features include an aluminum frame, swingarm suspension, E-ABS and hydraulic disc brakes, and ambient lighting for nighttime cruising. The Gallop SR1 also features unique NFC security that enables a rider to lock their Ausom scooter with a tap of their smartphone.

The Gallop SR1 E-scooter is usually priced at $1,399, but you can save $50 right now during Ausom’s Halloween sale. Be sure to check out all of the available deals below, including a coupon code to purchase a Gallop SR1 for $1,299.

The Gallop SR1 E-scooter / Source: Ausom

In addition to the US models mentioned above, Ausom also sells E-scooters specifically for the EU, including the GX1, available in “DE” and “EU” variants. All of Ausom’s models also come with excellent support during and after the buying process.

By providing customers with such ample support throughout the buying process, it is no wonder Ausom has gathered a loyal community of E-scooter enthusiasts in the short time it has been in business. See below:

Ausom scooters

Ausom provides extensive after-sales E-scooter support

In addition to providing rugged and dependable E-scooters to its customers, Ausom has made a conscious effort to garner trust. It does so by offering a robust customer service experience that includes free shipping on all E-scooter orders and all parts and accessories orders over $49.

With your Ausom scooter purchase, each component is covered under warranty for various timelines. For example, the E-scooter’s frame, motor, accelerator, controller, brakes, and several other components are covered under Ausom’s warranty for one year. The battery and charger are covered for six months.

Lastly, Ausom offers a return policy in case one of its E-scooters capable such high speeds may not be for you:

Ausom stands behind the quality of every product sold and delivered by our team, hoping that each and every customer expectation is met and exceeded. If for any reason you are not fully satisfied with your purchase experience within 14 days, we are happy to help with a replacement or refund (This valid purchase is only available for the Ausom website). Orders can be returned within 14 days upon receiving (subject to the last update of the logistics time)

Don’t miss out on Ausom’s upcoming sales events

If you’re interested in purchasing an all-terrain E-scooter from Ausom, you’d be wise to do so this fall, as the company has several sales. Now through October 31, you can save up to $250 off a new scooter.

You can also use promo code Electrek50 for $50 off the Leopard DT1, DT Pro, or the Gallop SR1 E-scooters from Ausom.

If you’re in the EU, be sure to use promo code Electrek110 for $110 off the GX1 E-Scooter.

After Halloween ends, keep an eye out for Ausom’s Black Friday Sale beginning in November. Check back with the Ausom Store to find the latest E-scooter deals.

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