Market ConcentrationThe outlook is mixed for consumer fintech, where the U.S. market is already highly concentrated with the highest market share held by MQ's largest partner, Block Inc.
Revenue GrowthSeveral headwinds are expected to impact revenue growth in 2H24, including the faster growth of the 'Powered By' business compared to the 'Managed By' business, which has higher gross take rates.
Stock PerformanceShare performance has been disappointing due to broader weakness in FinTech and specific obstacles such as the Cash App renewal headwind.