Q2 25 EPS
$0.00
BEAT +100.00%
Est. $-0.03
Q2 25 Revenue
$150.4M
BEAT +7.23%
Est. $140.2M
vs S&P Since Q2 25
+117.9%
BEATING MARKET
MQ +136.9% vs S&P +18.9%
Market Reaction
Did MQ Beat Earnings? Q2 2025 Results
Marqeta posted a strong second quarter, beating Wall Street estimates on both the top and bottom lines as accelerating platform adoption and an accounting policy change drove results well above expectations. The card issuing platform reported Q2 2025… Read more Marqeta posted a strong second quarter, beating Wall Street estimates on both the top and bottom lines as accelerating platform adoption and an accounting policy change drove results well above expectations. The card issuing platform reported Q2 2025 revenue of $150.39 million, up 20.1% year over year and ahead of the $140.25 million consensus, while EPS came in at $0.00, clearing the estimated loss of $0.03 by 100%. A revised accounting policy for estimating Card Network Incentives, effective this quarter, contributed 8.6 percentage points to gross profit growth, helping lift gross margin to 69% from 63% a year ago. Adjusted EBITDA swung to $28.51 million from negative $1.82 million in the prior-year period, reflecting both the accounting benefit and a 7% decline in adjusted operating expenses. Total Processing Volume grew 29% to roughly $91 billion. Looking ahead, management guided for Q3 revenue growth of 15% to 17% and full-year growth of 17% to 18%, with the near-term deceleration reflecting the one-time accounting tailwind that amplified this quarter's results.
Key Takeaways
- • Total Processing Volume growth of 29% year-over-year to $91 billion
- • Revised accounting policy for Card Network Incentives contributed 8.6 percentage points to gross profit growth
- • Increased volumes driving net revenue growth, partially offset by unfavorable mix from faster growth of processing-only programs
- • Adjusted operating expenses declined 7% year-over-year
MQ YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
“Our Q2 results demonstrate our ability to deliver strong growth while also making great progress towards our profitability objectives.”
— Mike Milotich, Q2 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% |