Companies /Technology

Marqeta Inc - Class A

NASDAQ: MQ Software - Infrastructure
$16.21
â–² $0.13 (+0.81%) today
Markets closed · 12:30am ET

Q4 2025 Earnings

Reported Feb 24, 2026, 4:08pm ET · SEC source
$0.00
Beat +100.00%
EPS · est. $-0.02
$172.1M
Beat +2.97%
Revenue · est. $167.1M
+11.9%
Beating market
MQ vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−8%−4%0Feb 24Feb 25report 4:08pm ETearnings+0.7%+2.7%
−8%−4%0Feb 24Feb 25earnings+0.7%+2.7%
MQ +2.7%S&P 500 +0.7%
−8%−4%0Feb 24Feb 25report 4:08pm ETearnings+1.2%+2.7%
−8%−4%0Feb 24Feb 25earnings+1.2%+2.7%
MQ +2.7%NASDAQ +1.2%
0+4%+8%Feb 23Mar 4report 4:08pm ETearnings−0.3%+3.6%
0+4%+8%Feb 23Mar 4earnings−0.3%+3.6%
MQ +3.6%S&P 500 −0.3%
0+4%+8%Feb 23Mar 4report 4:08pm ETearnings+0.5%+3.6%
0+4%+8%Feb 23Mar 4earnings+0.5%+3.6%
MQ +3.6%NASDAQ +0.5%
−7.21%
Day of report
+1.55%
Next session
+4.15%
One week
+3.37%
30 days

S&P 500 over the same 30 days: −8.52%.

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 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

“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.”

Marqeta CEO, on the earnings call

Forward Guidance & Outlook

For Q1 2026, Marqeta guides net revenue growth of 17-19%, gross profit growth of 17-19%, and adjusted EBITDA growth of 45-50%. For full year 2026, the company expects net revenue growth of 12-14%, gross profit growth of 10-12%, and adjusted EBITDA growth in the mid-20s percentage range.

MQ YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$50.0M$100.0M$150.0M$135.8M$172.1MRevenue$98.2M$120.0MGross Profit$-4,663,743$-8,294,000Operating Income$-715,385$-1,394,000Net Income
$0$50.0M$100.0M$150.0MRevenueGross ProfitOperating IncomeNet Income

Figures from SEC filings and company reports. Not investment advice.