Q3 25 EPS
$-0.01
BEAT +43.18%
Est. $-0.02
Q3 25 Revenue
$163.3M
BEAT +10.04%
Est. $148.4M
vs S&P Since Q3 25
+223.9%
BEATING MARKET
MQ +236.0% vs S&P +12.2%
Market Reaction
Did MQ Beat Earnings? Q3 2025 Results
Marqeta delivered a standout third quarter of 2025, beating expectations on both the top and bottom lines as accelerating transaction volumes drove results well ahead of Wall Street forecasts. Net revenue climbed 27.6% year-over-year to $163.31 milli… Read more Marqeta delivered a standout third quarter of 2025, beating expectations on both the top and bottom lines as accelerating transaction volumes drove results well ahead of Wall Street forecasts. Net revenue climbed 27.6% year-over-year to $163.31 million, ahead of the $148.41 million consensus by 10.04%, while the company posted a loss of just $0.01 per share, beating the $-0.02 estimate by 43.18%. The primary engine behind the outperformance was Total Processing Volume surging 33% to $98.00 billion, which lifted gross profit 27% to $114.56 million and pushed Adjusted EBITDA to $30.31 million, up sharply from $9.02 million a year ago, with margin expanding 12 percentage points to 19%. The GAAP net loss narrowed dramatically to $3.62 million from $28.64 million in the prior-year period, reflecting disciplined cost management, including a 16% reduction in compensation and benefits. Analysts had anticipated a more modest quarter, making the breadth of the beat notable. Looking ahead, management guided Q4 net revenue growth of 22-24% and Adjusted EBITDA margin of 15-16%, signaling continued profitability progress.
Key Takeaways
- • Total Processing Volume growth of 33% year-over-year to $98 billion
- • Increased volumes driving net revenue growth of 28%
- • Significant reduction in compensation and benefits expenses (down 16% YoY)
- • Adjusted EBITDA margin expansion of 12 percentage points to 19%
MQ YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
“Our robust Q3 financial results demonstrate our business momentum and our ability to deliver strong growth while rapidly improving our profitability.”
— Mike Milotich, Q3 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% |