Marqeta experiences a significant decline of over 30% following a forecast miss.

• On Monday, Marqeta's share price plummeted in extended trading after the company issued guidance that fell far below analysts' expectations.
• Despite peaking in 2021, the stock has lost more than 80% of its value and was already down 15% for the year prior to the report.
• Revenue for the third quarter came in just shy of estimates.

On Monday, the company's stock price dropped more than 30% in extended trading after it released weaker-than-anticipated fourth-quarter guidance.

Based on a survey of analysts by LSEG, here's how the company performed compared to Wall Street estimates.

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

Although the third-quarter results were slightly disappointing on both the top and bottom lines, Marqeta's forecast for the current period was even more concerning.

According to LSEG, analysts were anticipating revenue growth of more than 17% in the fourth quarter, while the payment processing firm forecasted a 10% to 12% increase from the previous year.

Marqeta, a card-issuing platform, attributed the guidance miss to increased scrutiny of the banking industry and specific customer program changes. Despite being public since 2021, the company's stock is now down more than 80% from its peak, and it was down 15% in the year prior to the report.

The total processing volume increased by more than 30% from the previous year, while net revenue and gross profit rose by 18% and 24%, respectively.

Marqeta's digital commerce business offers payment technology that detects fraud and ensures proper money routing, as well as customized physical cards that resemble credit or debit cards for point-of-sale purchases.

The company is attempting to enter the buy-now, pay-later market with its new product, Marqeta Flex, which allows users to access BNPL services from lenders such as PayPal and Klarna on any credit card that accepts Mastercard and Visa.

"CEO Simon Khalaf stated at Money2020 in Las Vegas that the orchestration layer is not a Wild West in BNPL, as it is tied to issuing, processing, disputes, and chargebacks. It is actually well established, and there is a reason why many people are jumping to it."

WATCH: Marqeta CEO on Q2 earnings