Q4 25 EPS
$0.00
BEAT +100.00%
Est. $-0.02
Q4 25 Revenue
$172.1M
BEAT +2.97%
Est. $167.1M
vs S&P Since Q4 25
+297.8%
BEATING MARKET
MQ +306.3% vs S&P +8.5%
Full Year 2025 Results
FY 25 EPS
$-0.03
FY 25 Revenue
$624.9M
Market Reaction
Did MQ Beat Earnings? Q4 2025 Results
Marqeta delivered a clean beat to close out fiscal 2025, with Q4 revenue of $172.11 million rising 26.8% year-over-year and clearing the $167.15 million consensus estimate by nearly 3%, while the company posted breakeven GAAP EPS of $0.00 against exp… Read more Marqeta delivered a clean beat to close out fiscal 2025, with Q4 revenue of $172.11 million rising 26.8% year-over-year and clearing the $167.15 million consensus estimate by nearly 3%, while the company posted breakeven GAAP EPS of $0.00 against expectations of a $0.02 loss. The standout driver behind the quarter's momentum was Total Processing Volume, which expanded 36% year-over-year to $109.00 billion, reflecting accelerating adoption of Marqeta's card issuing platform across both existing and new customers. Adjusted EBITDA doubled to $30.68 million, lifting the margin to 18% from 9% a year ago, as operating expenses fell 5% despite continued business expansion. The company also filed a shelf registration for employee Class A shares, signaling continued investment in workforce retention alongside its growth strategy. Looking ahead, Marqeta guided Q1 2026 net revenue growth of 17-19% and full-year 2026 net revenue growth of 12-14%, with adjusted EBITDA expanding in the mid-20s percentage range, suggesting management expects the efficiency gains of 2025 to carry forward.
Key Takeaways
- • Total Processing Volume grew 36% year-over-year to $109 billion in Q4
- • Deepening existing customer relationships through geographic, use case, and solution expansion
- • Improved operating efficiency driving 95% reduction in net loss year-over-year
- • Adjusted EBITDA margin expanded to 18% from 9% in Q4 2024
MQ YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
“In 2025, the business delivered outstanding growth and increased EBITDA by deepening existing customer relationships and developing new ones through geographic, use case, and solution expansion.”
— Mike Milotich, Q4 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% |