Marqeta Inc. Class A Common Stock Q3 2026 Earnings Recap

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.