Marqeta, Inc.(MQ)Earnings, Financials & Key Ratios

MQ•NASDAQ

$4.14

$1.76B mkt cap·Price updated May 6, 2026

SectorTechnology IndustryInfrastructure Software Sub-IndustryPayments and fintech infrastructure

AboutMarqeta, Inc. operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions. As of December 31, 2021, the company had approximately 200 customers. Marqeta, Inc. was incorporated in 2010 and is headquartered in Oakland, California.Show more

Revenue$625M+23.3%
EBITDA-$2M+71.6%
Net Income-$14M-151.0%
EPS (Diluted)-0.03-157.0%
Gross Margin11.15%-83.9%
EBITDA Margin-0.32%+77.0%
Operating Margin-4.67%+3.3%
Net Margin-2.23%-141.4%
ROE-1.51%-164.3%
Debt/Equity0.03+135.0%

Technical→

MQ Key Insights

Marqeta, Inc. (MQ) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y profit CAGR of 21.8%
✓FCF machine: 25.7% free cash flow margin
✓Strong 5Y sales CAGR of 16.6%
✓Share count reduced 10.9% through buybacks

✗Weaknesses

✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

MQ Price & Volume

Marqeta, Inc. (MQ) stock price & volume — 10-year historical chart

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MQ Growth Metrics

Marqeta, Inc. (MQ) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years16.57%

3 Years-5.83%

TTM23.39%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM-96.06%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM-92.92%

Return on Capital

10 Years-16.19%

5 Years-11.29%

3 Years-8.62%

Last Year-3.12%

MQ Recent Earnings

Marqeta, Inc. (MQ) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 10/12 qtrs (83%)●Beat Revenue 9/12 qtrs (75%)

Q2 2026Latest

May 5, 2026

EPS

$0.02

Est $0.00

+688.2%

Revenue

$166M

Est $164M

+0.9%

Q1 2026

Feb 24, 2026

EPS

$0.00

Est $0.01

+68.0%

Revenue

$172M

Est $168M

+2.7%

Q4 2025

Nov 5, 2025

EPS

$0.01

Est $0.01

+0.0%

Revenue

$163M

Est $167M

-2.2%

Q3 2025

Aug 6, 2025

EPS

$0.00

Est $0.03

+95.3%

Revenue

$150M

Est $146M

+3.2%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	May 5, 2026	$0.02vs $0.00+688.2%	$166Mvs $164M+0.9%
Q1 2026	Feb 24, 2026	$0.00vs $0.01+68.0%	$172Mvs $168M+2.7%
Q4 2025	Nov 5, 2025	$0.01vs $0.01+0.0%	$163Mvs $167M-2.2%
Q3 2025	Aug 6, 2025	$0.00vs $0.03+95.3%	$150Mvs $146M+3.2%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
PAYOPayoneer Global Inc.Direct Competitor	1.68B	4.86	25.58	7.68%	6.95%	9.84%	0.10
FLYWFlywire CorporationDirect Competitor	2.09B	17.51	159.18	26.59%	6.65%	5.87%
RELYRemitly Global, Inc.Direct Competitor	5B	23.73	76.55	29.37%	6.12%	12.66%	0.25
PRTHPriority Technology Holdings, Inc.Direct Competitor	430.83M	5.26	7.74	8.33%	5.84%
RPAYRepay Holdings CorporationDirect Competitor	303.9M	3.45	-1.15	-1.21%	-82.73%	-46.64%	0.91
EVTCEVERTEC, Inc.Direct Competitor	1.74B	28.16	12.80	10.21%	9.6%	11.07%	1.58
FISFidelity National Information Services, Inc.Product Competitor	23.81B	45.97	61.29	5.43%	3.51%	2.75%	0.29
FISVFiserv, Inc.Product Competitor	30.01B	56.11	8.85	3.6%	15.17%	12.43%	1.13

Compare MQ vs Peers

Marqeta, Inc. (MQ) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs PAYO

Most directly comparable listed peer for MQ.

Scale Benchmark

vs V

Larger-name benchmark to compare MQ against a more recognizable public peer.

Peer Set

Compare Top 5

vs PAYO, FLYW, RELY, PRTH

MQ Income Statement

Marqeta, Inc. (MQ) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Sales/Revenue	143.27M	290.29M	517.17M	748.21M	676.17M	507M	624.88M	651.61M
Revenue Growth %	-	102.62%	78.16%	44.67%	-9.63%	-25.02%	23.25%	23.39%
Cost of Goods Sold	82.81M	172.38M	285.47M	428.2M	346.66M	155.15M	555.19M	195.42M
COGS % of Revenue	57.8%	59.38%	55.2%	57.23%	51.27%	30.6%	88.85%	-
Gross Profit	60.45M▲ 0%	117.91M▲ 95.0%	231.71M▲ 96.5%	320M▲ 38.1%	329.51M▲ 3.0%	351.85M▲ 6.8%	69.69M▼ 80.2%	456.19M▲ 0%
Gross Margin %	42.2%	40.62%	44.8%	42.77%	48.73%	69.4%	11.15%	70.01%
Gross Profit Growth %	-	95.04%	96.52%	38.11%	2.97%	6.78%	-80.19%	-
Operating Expenses	119.32M	164.99M	393.71M	529.81M	612.53M	376.31M	98.84M	433.78M
OpEx % of Revenue	83.28%	56.84%	76.13%	70.81%	90.59%	74.22%	15.82%	-
Selling, General & Admin	101.32M	143M	343.02M	447.08M	528.2M	282.02M	98.84M	269.1M
SG&A % of Revenue	70.72%	49.26%	66.33%	59.75%	78.12%	55.63%	15.82%	-
Research & Development	0	0	0	0	0	0	0	16.94M
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	17.99M	22M	50.69M	82.73M	84.33M	94.3M	0	2M
Operating Income	-58.86M▲ 0%	-47.09M▲ 20.0%	-162.01M▼ 244.1%	-209.81M▼ 29.5%	-283.01M▼ 34.9%	-24.47M▲ 91.4%	-29.15M▼ 19.2%	-25.8M▲ 0%
Operating Margin %	-41.09%	-16.22%	-31.33%	-28.04%	-41.86%	-4.83%	-4.67%	-3.96%
Operating Income Growth %	-	20.01%	-244.06%	-29.51%	-34.89%	91.36%	-19.16%	-
EBITDA	-55.78M	-43.59M	-158.47M	-205.96M	-272.27M	-7.01M	-1.99M	4.89M
EBITDA Margin %	-38.94%	-15.02%	-30.64%	-27.53%	-40.27%	-1.38%	-0.32%	0.75%
EBITDA Growth %	-	21.86%	-263.56%	-29.96%	-32.2%	97.43%	71.6%	-81.27%
D&A (Non-Cash Add-back)	3.08M	3.5M	3.53M	3.85M	10.74M	17.46M	27.16M	30.69M
EBIT	-58.86M	-47.09M	-162.01M	-209.81M	-283.01M	-24.47M	-13.33M	-14.09M
Net Interest Income	0	0	0	0	0	0	0	0
Interest Income	0	0	0	0	0	0	0	0
Interest Expense	0	0	0	0	0	0	0	0
Other Income/Expense	698K	-521K	-2.56M	24.93M	52.44M	52.55M	15.82M	28.52M
Pretax Income	-58.16M▲ 0%	-47.61M▲ 18.2%	-164.57M▼ 245.7%	-184.88M▼ 12.3%	-230.57M▼ 24.7%	28.08M▲ 112.2%	-13.33M▼ 147.5%	2.72M▲ 0%
Pretax Margin %	-40.6%	-16.4%	-31.82%	-24.71%	-34.1%	5.54%	-2.13%	0.42%
Income Tax	35K	87K	-640K	-102K	-7.61M	793K	596K	554K
Effective Tax Rate %	-0.06%	-0.18%	0.39%	0.06%	3.3%	2.82%	-4.47%	20.35%
Net Income	-58.2M▲ 0%	-47.7M▲ 18.0%	-163.93M▼ 243.7%	-184.78M▼ 12.7%	-222.96M▼ 20.7%	27.29M▲ 112.2%	-13.93M▼ 151.0%	2.17M▲ 0%
Net Margin %	-40.62%	-16.43%	-31.7%	-24.7%	-32.97%	5.38%	-2.23%	0.33%
Net Income Growth %	-	18.05%	-243.7%	-12.72%	-20.66%	112.24%	-151.03%	-96.06%
Net Income (Continuing)	-58.2M	-47.7M	-163.93M	-184.78M	-222.96M	27.29M	-13.93M	2.17M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)	-0.11▲ 0%	-0.09▲ 19.3%	-0.30▼ 237.8%	-0.34▼ 13.3%	-0.42▼ 23.5%	0.05▲ 112.5%	-0.03▼ 157.0%	0.01▲ 0%
EPS Growth %	-	19.27%	-237.84%	-13.33%	-23.53%	112.52%	-157.03%	-92.92%
EPS (Basic)	-0.11	-0.09	-0.30	-0.34	-0.42	0.05	-0.03	-
Diluted Shares Outstanding	537.06M	537.06M	541.38M	545.4M	532.54M	518.85M	462.17M	433.57M
Basic Shares Outstanding	537.06M	537.06M	541.38M	545.4M	532.54M	511.06M	462.17M	428.6M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

MQ Balance Sheet

Marqeta, Inc. (MQ) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Total Current Assets	197.21M	430.91M	1.8B	1.75B	1.39B	1.25B	1.24B	1.19B
Cash & Short-Term Investments	155.57M	370.34M	1.71B	1.62B	1.25B	1.1B	1.08B	712.06M
Cash Only	60.34M	220.43M	1.25B	1.18B	980.97M	923.02M	981.82M	674.79M
Short-Term Investments	95.22M	149.9M	464.49M	440.86M	268.72M	179.41M	97.7M	37.27M
Accounts Receivable	26.46M	41.43M	56.19M	80.86M	109.19M	118.59M	125.93M	45.89M
Days Sales Outstanding	67.42	52.09	39.66	39.45	58.94	85.38	73.55	57.9
Inventory	0	781K	3.94M	5.15M	4.31M	3.68M	1.95M	0
Days Inventory Outstanding	-	1.65	5.04	4.39	4.54	8.65	1.28	0.91
Other Current Assets	9.15M	10.03M	11.86M	14.67M	10.54M	11.33M	13.71M	430.47M
Total Non-Current Assets	25.99M	26.77M	31.65M	23.58M	200.99M	213.91M	289.72M	288.3M
Property, Plant & Equipment	25.77M	22.89M	20.98M	16.45M	25.25M	40.23M	68.19M	71.42M
Fixed Asset Turnover	5.56x	12.68x	24.65x	45.47x	26.78x	12.60x	9.16x	10.08x
Goodwill	0	0	0	0	123.52M	123.52M	154.71M	153.96M
Intangible Assets	0	0	0	0	35.63M	29.77M	51.39M	48.41M
Long-Term Investments	0	0	8.38M	0	0	0	7.58M	7.58M
Other Non-Current Assets	218K	3.89M	2.29M	5.92M	16.09M	19.98M	7.31M	57.26M
Total Assets	223.19M▲ 0%	457.68M▲ 105.1%	1.83B▲ 299.9%	1.77B▼ 3.3%	1.59B▼ 10.2%	1.46B▼ 8.0%	1.53B▲ 4.2%	1.48B▲ 0%
Asset Turnover	0.64x	0.63x	0.28x	0.42x	0.43x	0.35x	0.41x	0.46x
Asset Growth %	-	105.06%	299.93%	-3.28%	-10.2%	-7.96%	4.23%	-1.08%
Total Current Liabilities	64.31M	141.1M	237.97M	282.88M	336.58M	370.99M	749.06M	721.14M
Accounts Payable	32.64M	80.55M	123.87M	145.99M	175.06M	193.93M	226.37M	281.09M
Days Payables Outstanding	143.85	170.56	158.38	124.44	184.33	456.23	148.82	332.48
Short-Term Debt	0	0	0	0	7.89M	7.72M	10.74M	0
Deferred Revenue (Current)	684K	3.98M	19.06M	17.05M	11.83M	13.59M	11.76M	19.39M
Other Current Liabilities	11.39M	23.61M	36.34M	43.76M	45.85M	47.62M	443.51M	440.05M
Current Ratio	3.07x	3.05x	7.56x	6.17x	4.13x	3.37x	1.65x	1.65x
Quick Ratio	3.07x	3.05x	7.54x	6.16x	4.11x	3.36x	1.65x	1.65x
Cash Conversion Cycle	-	-116.82	-113.68	-80.61	-120.85	-362.21	-73.99	-273.67
Total Non-Current Liabilities	21.54M	28.42M	18.98M	14.51M	9.72M	7.2M	14.02M	13.29M
Long-Term Debt	0	0	0	0	0	0	5.54M	4.8M
Capital Lease Obligations	17.67M	15.45M	12.43M	9.03M	5.13M	870K	5.54M	13.35M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	947K	4.1M	450K	1.27M	520K	1.55M	309K	23.28M
Total Liabilities	85.85M	169.52M	256.95M	297.39M	346.3M	378.19M	763.08M	734.43M
Total Debt	19.73M	18.22M	15.45M	12.43M	16.93M	13.22M	21.81M	4.8M
Net Debt	-40.61M	-202.21M	-1.23B	-1.17B	-964.05M	-909.8M	-960.01M	-669.99M
Debt / Equity	0.14x	0.06x	0.01x	0.01x	0.01x	0.01x	0.03x	0.03x
Debt / EBITDA	-	-	-	-	-	-	-	0.98x
Net Debt / EBITDA	-	-	-	-	-	-	-	-137.07x
Interest Coverage	-	-	-	-	-	-	-	-
Total Equity	137.34M▲ 0%	288.16M▲ 109.8%	1.57B▲ 446.0%	1.47B▼ 6.4%	1.24B▼ 15.6%	1.09B▼ 12.7%	761.96M▼ 29.8%	742.28M▲ 0%
Equity Growth %	-	109.81%	446.02%	-6.39%	-15.59%	-12.74%	-29.77%	-104.16%
Book Value per Share	0.26	0.54	2.91	2.70	2.33	2.09	1.65	1.71
Total Shareholders' Equity	137.34M	288.16M	1.57B	1.47B	1.24B	1.09B	761.96M	742.28M
Common Stock	12K	13K	54K	53K	52K	50K	43K	43K
Retained Earnings	-205.83M	-253.52M	-417.45M	-602.23M	-825.2M	-797.91M	-811.83M	-804M
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	46K	25K	-2.23M	-7.24M	762K	-314K	1.51M	-310K
Minority Interest	0	0	0	0	0	0	0	0

MQ Cash Flow Statement

Marqeta, Inc. (MQ) cash flow — operating, investing & free cash flow history

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	-15.43M	50.27M	56.97M	-12.97M	21.1M	58.17M	162.62M	162.62M
Operating CF Margin %	-10.77%	17.32%	11.02%	-1.73%	3.12%	11.47%	26.02%	-
Operating CF Growth %	-	425.86%	13.33%	-122.76%	262.76%	175.64%	179.57%	1022.18%
Net Income	-58.2M	-47.7M	-163.93M	-184.78M	-222.96M	27.29M	-13.93M	2.17M
Depreciation & Amortization	3.08M	3.5M	3.53M	3.85M	10.74M	17.46M	26.41M	29.93M
Stock-Based Compensation	21.76M	28.21M	142.66M	107.53M	180.74M	-8.05M	104.79M	98.89M
Deferred Taxes	0	0	0	0	0	0	0	0
Other Non-Cash Items	2.36M	4.5M	6.39M	50.15M	31.2M	193K	2.82M	-37.75M
Working Capital Changes	15.58M	61.76M	68.32M	10.28M	21.39M	21.29M	42.53M	56.03M
Change in Receivables	-15.06M	-16.85M	-13.72M	-21.6M	-27.6M	-11.2M	-4.98M	-14.55M
Change in Inventory	0	0	0	0	0	0	0	0
Change in Payables	1.61M	-839K	190K	254K	29.5M	-350K	31.05M	22.72M
Cash from Investing	-100.32M	-57.56M	-329.12M	28.72M	38.52M	70.79M	271.11M	272.31M
Capital Expenditures	-4.91M	-2.38M	-2.74M	-2.32M	-762K	-2.42M	-1.83M	-9.72M
CapEx % of Revenue	3.43%	0.82%	0.53%	0.31%	0.11%	0.48%	0.29%	-
Acquisitions	-750K	0	-20M	25.73M	-135.78M	0	-45.66M	-45.66M
Investments	-	-	-	-	-	-	-	-
Other Investing	0	0	0	-1.6M	-11.89M	-18.79M	201.22M	-22.29M
Cash from Financing	139.05M	167.38M	1.3B	-79.49M	-261.79M	-186.91M	-347.32M	-304.89M
Debt Issued (Net)	-5M	0	0	0	0	0	0	0
Equity Issued (Net)	142.99M	166.94M	1.32B	-78.14M	-190.42M	-154.43M	-387.6M	-278.87M
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	-78.14M	-190.42M	-154.43M	-391.37M	-319.26M
Other Financing	1.06M	436K	-20.51M	-1.35M	-71.37M	-32.49M	40.28M	-26.02M
Net Change in Cash	23.3M▲ 0%	160.09M▲ 587.0%	1.03B▲ 541.6%	-63.73M▼ 106.2%	-202.17M▼ 217.2%	-57.96M▲ 71.3%	86.42M▲ 249.1%	135.77M▲ 0%
Free Cash Flow	-20.34M▲ 0%	47.9M▲ 335.5%	54.23M▲ 13.2%	-16.89M▼ 131.1%	8.45M▲ 150.1%	55.75M▲ 559.6%	160.79M▲ 188.4%	112.35M▲ 0%
FCF Margin %	-14.19%	16.5%	10.49%	-2.26%	1.25%	11%	25.73%	17.24%
FCF Growth %	-	335.53%	13.22%	-131.14%	150.06%	559.55%	188.4%	145.89%
FCF per Share	-0.04	0.09	0.10	-0.03	0.02	0.11	0.35	0.35
FCF Conversion (FCF/Net Income)	0.27x	-1.05x	-0.35x	0.07x	-0.09x	2.13x	-11.68x	51.80x
Interest Paid	317K	0	0	0	0	0	0	0
Taxes Paid	1K	109K	201K	84K	430K	396K	0	0

MQ Key Ratios

Marqeta, Inc. (MQ) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2020	2021	2022	2023	2024	2025	TTM
Return on Equity (ROE)	-22.42%	-17.61%	-12.13%	-16.42%	2.34%	-1.51%	0.27%
Return on Invested Capital (ROIC)	-38.66%	-56.88%	-48.96%	-73.08%	-8.07%	-	-77.94%
Gross Margin	40.62%	44.8%	42.77%	48.73%	69.4%	11.15%	70.01%
Net Margin	-16.43%	-31.7%	-24.7%	-32.97%	5.38%	-2.23%	0.33%
Debt / Equity	0.06x	0.01x	0.01x	0.01x	0.01x	0.03x	0.03x
FCF Conversion	-1.05x	-0.35x	0.07x	-0.09x	2.13x	-11.68x	51.80x
Revenue Growth	102.62%	78.16%	44.67%	-9.63%	-25.02%	23.25%	23.39%

MQ SEC Filings & Documents

Marqeta, Inc. (MQ) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

May 5, 2026·SEC

Material company update

Feb 24, 2026·SEC

Material company update

Jan 7, 2026·SEC

10-K Annual Reports

FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 26, 2025·SEC

FY 2024

Feb 28, 2024·SEC

10-Q Quarterly Reports

FY 2026

May 5, 2026·SEC

FY 2025

Nov 5, 2025·SEC

FY 2025

Aug 6, 2025·SEC

MQ Frequently Asked Questions

Marqeta, Inc. (MQ) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Marqeta, Inc. (MQ) reported $651.6M in revenue for fiscal year 2025. This represents a 355% increase from $143.3M in 2019.

Marqeta, Inc. (MQ) grew revenue by 23.3% over the past year. This is strong growth.

Yes, Marqeta, Inc. (MQ) is profitable, generating $2.2M in net income for fiscal year 2025 (-2.2% net margin).

Dividend & Returns

Marqeta, Inc. (MQ) has a return on equity (ROE) of -1.5%. Negative ROE indicates the company is unprofitable.

Marqeta, Inc. (MQ) generated $112.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Marqeta, Inc. (MQ) financial analysis — history, returns, DCA and operating performance tools

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Marqeta, Inc.(MQ)Earnings, Financials & Key Ratios

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