Marqeta, Inc.MQEarnings & Financial Report
Marqeta, Inc. operates a cloud-native open API platform for modern card issuing and digital payment processing. Its solutions empower fintech startups, large retailers, and enterprise clients to launch customized physical and virtual payment cards, as well as embedded finance products across global consumer and commercial markets.
Revenue
$139.1M
Gross Profit
$98.7M
Operating Profit
$-18.5M
Net Profit
$-8.3M
Gross Margin
71.0%
Operating Margin
-13.3%
Net Margin
-5.9%
YoY Growth
17.9%
Marqeta, Inc. Q1 FY2025 Financial Summary
Marqeta, Inc. reported revenue of $139.1M (up 17.9% YoY) for Q1 FY2025, with a net profit of $-8.3M (up 77.1% YoY) (-5.9% margin). Cost of goods sold was $40.4M, operating expenses totaled $117.2M.
Key Financial Metrics
| Total Revenue | $139.1M |
|---|---|
| Net Profit | $-8.3M |
| Gross Margin | 71.0% |
| Operating Margin | -13.3% |
| Report Period | Q1 FY2025 |
Revenue Breakdown
Marqeta, Inc. Q1 FY2025 revenue of $139.1M breaks down across 2 segments, led by Platform Service Revenue Net at $131.9M (94.8% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Platform Service Revenue Net | $131.9M | 94.8% |
| Other Services Revenue | $7.2M | 5.2% |
Marqeta, Inc. Revenue by Segment — Quarterly Trend
Marqeta, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Platform Service Revenue Net and Other Services Revenue) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Platform Service Revenue Net | — | $163.4M | $155.8M | $143.1M |
| Other Services Revenue | — | $8.8M | $7.5M | $7.3M |
Marqeta, Inc. Annual Revenue by Year
Marqeta, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $624.9M).
| Year | Annual Revenue |
|---|---|
| 2025 | $624.9M |
| 2024 | $507.0M |
| 2023 | $676.2M |
| 2022 | $748.2M |
Marqeta, Inc. Quarterly Revenue & Net Profit History
Marqeta, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $165.8M | +19.0% | $7.8M | 4.7% |
| Q4 FY2025 | $172.1M | +26.7% | N/A | N/A |
| Q3 FY2025 | $163.3M | +27.6% | $-3.6M | -2.2% |
| Q2 FY2025 | $150.4M | +20.1% | $-647.0K | -0.4% |
| Q1 FY2025 | $139.1M | +17.9% | $-8.3M | -5.9% |
| Q4 FY2024 | $135.8M | +14.3% | N/A | N/A |
| Q3 FY2024 | $128.0M | +17.5% | $-28.6M | -22.4% |
| Q2 FY2024 | $125.3M | -45.8% | $119.1M | 95.1% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $125.3M | $128.0M | $135.8M | $139.1M | $150.4M | $163.3M | $172.1M | $165.8M |
| YoY Growth | -45.8% | 17.5% | 14.3% | 17.9% | 20.1% | 27.6% | 26.7% | 19.0% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $1.49B | $1.44B | $1.46B | $1.35B | $1.21B | $1.49B | $1.53B | $1.48B |
| Liabilities | $345.9M | $340.2M | $378.2M | $362.4M | $371.2M | $649.2M | $763.1M | $734.4M |
| Equity | $1.14B | $1.10B | $1.09B | $987.3M | $843.4M | $839.2M | $762.0M | $742.3M |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $25.7M | $7.3M | $24.8M | $10.0M | $12.5M | $86.8M | $53.3M |