Leading edge card issuer Marqeta (NASDAQ: MQ) will be announcing earnings results tomorrow afternoon. Here's what investors should know.

Marqeta beat analysts' revenue expectations by 7.7% last quarter, reporting revenues of $118.8 million, down 41.7% year on year. It was an impressive quarter for the company, with a significant improvement in its gross margin and a decent beat of analysts' total payment volume estimates.

Is Marqeta a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Marqeta's revenue to decline 46.2% year on year to $116.9 million, a reversal from the 30.8% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.09 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Marqeta has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 5.4% on average.

Looking at Marqeta's peers in the finance and HR software segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Workiva delivered year-on-year revenue growth of 17%, meeting analysts' expectations, and Paycom reported revenues up 10.7%, in line with consensus estimates. Workiva traded up 2.1% following the results while Paycom was down 10.4%.

Read our full analysis of Workiva's results here and Paycom's results here.

Growth stocks have seen elevated volatility as investors debate the Fed's monetary policy, and while some of the finance and HR software stocks have fared somewhat better, they have not been spared, with share prices down 3.1% on average over the last month. Marqeta is down 5% during the same time and is heading into earnings with an average analyst price target of $7.6 (compared to the current share price of $5.68).

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