The third quarter of 2022 might have felt uneventful for Marqeta (NASDAQ: MQ): Block is still its largest client, the company’s board has not found a new CEO to replace the founder, and the company keeps reporting “due diligence costs related to potential acquisitions”, but has not pursued one. Nevertheless, the company reported a 53.9% YoY growth in Total Processing Volume, and a 45.7% YoY growth in revenue, as well as launched “Marqeta for Banking”, a portfolio of banking products that expands capabilities of the company’s card issuing platform… all while burning very little of its $1.2 billion cash and cash equivalents balance.