Marqeta Inc. Class A Common Stock Earnings Recaps
Q3 2025
Nov 6, 2025
Marqeta delivered impressive Q3 2025 results with total processing volume (TPV) reaching $98 billion, up 33% year-over-year, highlighting robust growth and improved profitability metrics.
Key takeaways
- TPV accelerated for the second consecutive quarter, a notable 33% increase year-over-year, marking the highest growth rate since Q1 2024.
- Net revenue rose 28% to $163 million, with gross profit increasing in line at $115 million, demonstrating operational efficiency.
- Adjusted EBITDA reached $30 million, representing a 19% margin, as the company maintains cost discipline while investing in future growth.
- Strong demand in lending solutions, especially 'Buy Now, Pay Later' use cases, contributed to accelerated TPV growth in commercial programs and partnerships.
- Expansion of bank partnerships, including Cross River Bank and new integrations in Europe, enhances Marqeta's capabilities and market reach.