Q1 25 EPS
$-0.02
BEAT +58.33%
Est. $-0.05
Q1 25 Revenue
$139.1M
BEAT +2.79%
Est. $135.3M
vs S&P Since Q1 25
+243.8%
BEATING MARKET
MQ +276.9% vs S&P +33.1%
Market Reaction
Did MQ Beat Earnings? Q1 2025 Results
Marqeta posted a notably improved first quarter for 2025, with net revenue climbing 18% year-over-year to $139.07 million and a GAAP loss of just $0.02 per share, as the card-issuing platform showed meaningful progress on profitability. The clearest … Read more Marqeta posted a notably improved first quarter for 2025, with net revenue climbing 18% year-over-year to $139.07 million and a GAAP loss of just $0.02 per share, as the card-issuing platform showed meaningful progress on profitability. The clearest driver of that improvement was cost discipline: total operating expenses fell 13% to $117.22 million, aided by the absence of a $13.12 million Executive Chairman Long-Term Performance Award that weighed on the prior-year period, helping narrow the GAAP net loss to $8.26 million from $36.06 million a year ago. Total Processing Volume rose 27% to $84.47 billion, reflecting continued platform adoption, while Adjusted EBITDA more than doubled to $20.08 million, expanding margin by 6 percentage points to 14%. Operating cash flow turned solidly positive at $9.99 million. Looking ahead, Marqeta guided Q2 net revenue growth of 11-13% and full-year 2025 net revenue growth of 13-15%, though the company flagged that a renegotiated platform partner agreement will affect net revenue presentation without impacting gross profit, a nuance investors will need to monitor closely.
Key Takeaways
- • Total Processing Volume growth of 27% year-over-year to $84 billion
- • Increased transaction volumes driving net revenue growth of 18%
- • 13% reduction in total operating expenses year-over-year
- • Elimination of Executive Chairman Long-Term Performance Award expense
- • Gross margin maintained at 71%
MQ YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
“Our Q1 results demonstrate our ability to execute our growth plans while simultaneously increasing our level of profitability.”
— Mike Milotich, Q1 2025 Earnings Press Release
MQ Earnings Trends
MQ vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MQ EPS Trend
Earnings per share: estimate vs actual
MQ Revenue Trend
Quarterly revenue: estimate vs actual
MQ Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.01 | $0.02 | +300.00% | $165.8M | +1.00% |
| Q4 25 BEAT FY | $-0.02 | $0.00 | +100.00% | $172.1M | +2.97% |
| FY Full Year | — | $-0.03 | — | $624.9M | — |
| Q3 25 BEAT | $-0.02 | $-0.01 | +43.18% | $163.3M | +10.04% |
| Q2 25 BEAT | $-0.03 | $0.00 | +100.00% | $150.4M | +7.23% |
| Q1 25 BEAT | $-0.05 | $-0.02 | +58.33% | $139.1M | +2.79% |