Marqeta Inc. Class A Common Stock Earnings Recaps
Q3 2026
Nov 6, 2026
Marqeta’s shares rose 4.5% after it reported 29% TPV growth and 28% adjusted EBITDA growth. Gross profit grew 7%, at the high end of expectations, though management said growth remained below recent levels because of previously discussed discrete items.
Key takeaways
- TPV reached $126 billion, up 29%; annualized TPV exceeded $500 billion for the first time.
- Gross profit grew 7%, while adjusted EBITDA grew 28%; adjusted EBITDA margin was 32% of gross profit.
- GAAP net income was $115 million, including a $107 million noncash tax benefit.
- Marqeta expanded its work with Block, including enabling the Square Credit Card on the American Express Network, and launched Google Wallet for kids and Satispay’s consumer debit card program.
- Cash App’s new issuance diversification progressed in line with expectations; the company said the dynamic applies to new issuance, while its large existing card base continues as is.
Q2 2026
Aug 7, 2026
Shares dropped 6.7% as Marqeta's cautious outlook and signs of margin pressures overshadowed solid top-line growth, raising investor concerns about sustained profitability and future momentum.
Key takeaways
- Total Payment Volume (TPV) grew 32% year-over-year to $120 billion, maintaining over 30% growth for the fourth consecutive quarter.
- Gross profit increased 17%, supported by strong volume gains but potentially signaling margin pressure amid broader business investments.
- Adjusted EBITDA rose 31%, reaching a 21% margin, though investors appear wary of margin compression risks going forward.
- The company reported $8 million in GAAP net income, marking the second consecutive quarter of profitability, yet investors remain cautious on durability.
- Management highlighted expanding multinational card issuing capabilities and new stablecoin-backed card offerings, but the cautious guidance and outlook tempered enthusiasm.
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.