Marqeta, Inc. (MQ) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MQ SEC filings page.
Marqeta, Inc. (MQ) reported $677.2M in revenue over the twelve months to Jun 30, 2026, up 22.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Gross-margin expansion has not translated into operating profit, while shareholder distributions coincide with a more leveraged, less liquid balance sheet.
From FY2024 to FY2025, gross margin held near70.0% while operating margin slipped from-4.8% to-7.4% ; the improved gross spread still did not absorb the operating cost base. At the same time, cash conversion diverged from earnings: operating cash flow reached$163M and free cash flow$161M despite a-$13.9M net loss.
The capital-light cash profile is visible in FY2025: capital expenditures were only
The balance sheet moved materially toward greater financial sensitivity: debt-to-equity rose from 0.3x in FY2023 to 1.0x in FY2025, while the current ratio fell from 3.4x to 1.6x. The shift coincided with
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Marqeta, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Marqeta, Inc. has an operating margin of -7.4%, meaning the company loses $7 on every $100 of revenue. This results in a profitability score of 25/100. This is down from -4.8% the prior year.
Marqeta, Inc.'s revenue surged 23.3% year-over-year to $624.9M, reflecting rapid business expansion. This strong growth earns a score of 19/100.
Marqeta, Inc. has a moderate D/E ratio of 1.00. This balance of debt and equity financing earns a leverage score of 47/100.
Marqeta, Inc.'s current ratio of 1.65 indicates adequate short-term liquidity, earning a score of 48/100. The company can meet its near-term obligations, though with limited headroom.
Marqeta, Inc. converts 25.7% of revenue into free cash flow ($160.8M). This strong cash generation earns a score of 81/100.
Marqeta, Inc. posts a -1.8% return on equity (ROE), meaning it loses $2 for every $100 of shareholders' equity. This results in a returns score of 27/100. This is down from 2.5% the prior year.
Marqeta, Inc. scores 1.27, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.7B) relative to total liabilities ($763.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Marqeta, Inc. passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Marqeta, Inc. reported a net loss of $13.9M while generating $162.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Marqeta, Inc. generated $176.0M in revenue in Q2 2026. This represents an increase of 17.0% from the same quarter a year earlier. Against the prior quarter it is up 6.2%.
Marqeta, Inc.'s EBITDA was $13.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 617.7% from the same quarter a year earlier. Against the prior quarter it is up 21.8%.
Marqeta, Inc. reported $7.6M in net income in Q2 2026. This represents an increase of 1269.6% from the same quarter a year earlier. Against the prior quarter it is down 3.4%.
Cash & Balance Sheet
Marqeta, Inc. generated $63.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 415.6% from the same quarter a year earlier. Against the prior quarter it is up 1455.3%.
Marqeta, Inc. held $691.4M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Marqeta, Inc.'s gross margin was 69.3% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.7 percentage points.
Marqeta, Inc.'s operating margin was 2.1% in Q2 2026, reflecting core business profitability. This is up 8.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.8 percentage points.
Marqeta, Inc.'s net profit margin was 4.3% in Q2 2026, showing the share of revenue converted to profit. This is up 4.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.4 percentage points.
Marqeta, Inc.'s ROE was 1.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 1.1 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.
Capital Allocation
Marqeta, Inc. spent $54.7M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 66.6% from the same quarter a year earlier. Against the prior quarter it is up 39.4%.
Marqeta, Inc. invested $211K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 37.0% from the same quarter a year earlier. Against the prior quarter it is down 83.5%.
Not reported for Q2 2026.
MQ Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $176.0M+17.0% | $165.8M+19.2% | $172.1M+26.7% | $163.3M+27.6% | $150.4M+20.1% | $139.1M+17.9% | $135.8M+14.3% | $128.0M+17.5% |
| Cost of Revenue | $54.1M+16.8% | $48.2M+19.3% | $52.1M+38.7% | $48.7M+28.8% | $46.3M+0.9% | $40.4M+19.5% | $37.6M+5.6% | $37.8M+4.0% |
| Gross Profit | $121.9M+17.1% | $117.6M+19.2% | $120.0M+22.2% | $114.6M+27.1% | $104.1M+31.1% | $98.7M+17.3% | $98.2M+18.0% | $90.1M+24.3% |
| SG&A Expenses | $78.3M-3.9% | $78.0M-9.3% | $88.1M-10.5% | $84.9M-15.9% | $81.4M-21.1% | $86.0M-9.4% | $98.5M+19.1% | $101.0M-1.4% |
| Operating Income | $3.6M+139.4% | $2.1M+111.3% | -$8.3M+77.8% | -$10.4M+75.4% | -$9.2M-108.8% | -$18.5M+62.8% | -$37.4M+33.6% | -$42.2M+39.5% |
| EBITDA | $13.3M+617.7% | $10.9M+182.9% | -$134K+99.6% | -$3.4M+91.1% | -$2.6M-102.4% | -$13.2M+71.5% | -$31.9M+40.0% | -$37.8M+43.4% |
| Income Tax | $505K+145.1% | $193K-17.9% | -$343K-187.1% | $498K+333.0% | $206K+37.3% | $235K+75.4% | $394K+138.3% | $115K-51.7% |
| Net Income | $7.6M+1269.6% | $7.8M+194.8% | -$1.4M+94.9% | -$3.6M+87.3% | -$647K-100.5% | -$8.3M+77.1% | -$27.1M+32.8% | -$28.6M+47.9% |
| EPS (Basic) | $0.07+800.0% | $0.02+200.0% | $0.00+100.0% | -$0.01+83.3% | -$0.01-104.3% | -$0.02+71.4% | -$0.06+25.0% | -$0.06+40.0% |
| EPS (Diluted) | $0.07 | $0.02+200.0% | $0.00+100.0% | -$0.01+83.3% | -$0.01 | -$0.02+71.4% | -$0.05+37.5% | -$0.06+40.0% |
| Diluted Shares (Avg) | 107M | 434M-13.5% | N/A | 449M-11.5% | 115M | 501M-3.2% | N/A | 507M-4.2% |
Not reported in any period shown, so not listed: R&D Expenses, Interest Expense.
MQ Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4B+14.6% | $1.5B+9.4% | $1.5B+4.2% | $1.5B+3.7% | $1.2B-18.4% | $1.3B-13.4% | $1.5B-8.0% | $1.4B-10.4% |
| Current Assets | $1.1B+11.3% | $1.2B+4.7% | $1.2B-1.1% | $1.2B-1.7% | $990.2M-22.2% | $1.1B-15.8% | $1.2B-10.0% | $1.2B-13.2% |
| Cash & Equivalents | $691.4M-5.6% | $674.8M-18.8% | $709.4M-23.1% | $747.2M-15.7% | $732.7M-20.8% | $830.9M-14.4% | $923.0M-5.9% | $886.4M-6.5% |
| Short-Term Investments | $9.5M-89.3% | $37.3M-76.3% | $62.5M-65.2% | $83.2M-61.8% | $88.9M-61.2% | $157.5M-31.0% | $179.4M-33.2% | $217.6M-37.7% |
| Accounts Receivable | $51.0M+37.0% | $45.9M+61.4% | $41.4M+38.1% | $36.1M+37.0% | $37.2M+43.3% | $28.4M+21.4% | $30.0M+53.5% | $26.4M+68.5% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $153.8M+24.5% | $154.0M+24.6% | $154.7M+25.2% | $154.5M+25.1% | $123.5M0.0% | $123.5M0.0% | $123.5M0.0% | $123.5M+0.4% |
| Total Liabilities | $676.7M+82.3% | $734.4M+102.7% | $763.1M+101.8% | $649.2M+90.8% | $371.2M+7.3% | $362.4M+4.2% | $378.2M+9.2% | $340.2M+10.4% |
| Current Liabilities | $662.3M+83.3% | $721.1M+102.0% | $749.1M+101.9% | $636.8M+90.9% | $361.3M+6.9% | $357.0M+5.4% | $371.0M+10.2% | $333.6M+12.4% |
| Non-Current Liabilities | $14.4M+45.7% | $13.3M+146.5% | $14.0M+94.7% | $12.4M+88.2% | $9.9M+22.3% | $5.4M-40.8% | $7.2M-25.9% | $6.6M-41.5% |
| Total Equity | $715.6M-15.2% | $742.3M-24.8% | $762.0M-29.8% | $839.2M-23.4% | $843.4M-26.2% | $987.3M-18.5% | $1.1B-12.7% | $1.1B-15.4% |
| Retained Earnings | -$796.4M+1.3% | -$804.0M+0.3% | -$811.8M-1.7% | -$810.4M-5.1% | -$806.8M-8.7% | -$806.2M+6.4% | -$797.9M+3.3% | -$770.8M+1.8% |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
MQ Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $63.2M+403.5% | -$3.4M-133.7% | $53.3M+115.4% | $86.8M+1091.7% | $12.5M-51.2% | $10.0M+2244.4% | $24.8M+49.8% | $7.3M-82.3% |
| Depreciation & Amortization | $9.7M+45.7% | $8.9M+66.1% | $8.2M+47.9% | $7.0M+57.8% | $6.7M+68.2% | $5.3M+50.7% | $5.5M+74.7% | $4.4M+43.1% |
| Stock-Based Compensation | $22.4M-17.4% | $20.0M-22.8% | N/A | $25.7M-27.9% | $27.1M-25.4% | $25.9M-17.2% | N/A | $35.7M+11.0% |
| Capital Expenditures | $211K-37.0% | $1.3M+1.0% | -$157K+336.1% | $391K+106.9% | $335K-66.6% | $1.3M+6.3% | $36K-10.0% | $189K+250.0% |
| Free Cash Flow | $63.0M+415.6% | -$4.6M-153.3% | $53.2M+115.1% | $86.4M+1117.9% | $12.2M-50.6% | $8.7M+1240.0% | $24.7M+50.0% | $7.1M-82.7% |
| Investing Cash Flow | $19.2M-68.5% | $16.1M+8.0% | $12.9M-61.9% | $182.5M+1780.7% | $60.9M+1087.0% | $14.9M-55.6% | $33.7M-58.8% | $9.7M-87.7% |
| Financing Cash Flow | -$84.4M+50.8% | -$74.5M+36.3% | -$30.9M-41.2% | -$27.8M+49.6% | -$171.6M-163.3% | -$117.0M-162.6% | -$21.9M+66.0% | -$55.3M+55.5% |
| Share Buybacks | $54.7M-66.6% | $39.2M-64.8% | $96.6M+478.1% | $19.6M-58.0% | $163.9M+185.1% | $111.3M+230.5% | $16.7M-71.6% | $46.6M-27.8% |
Not reported in any period shown, so not listed: Dividends Paid.
MQ Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.3%+0.1pp | 70.9%0.0pp | 69.7%-2.6pp | 70.2%-0.3pp | 69.2%+5.8pp | 71.0%-0.4pp | 72.3%+2.3pp | 70.4%+3.8pp |
| Operating Margin | 2.1%+8.2pp | 1.3%+14.6pp | -4.8%+22.7pp | -6.3%+26.7pp | -6.1%-90.0pp | -13.3%+28.9pp | -27.6%+19.9pp | -33.0%+31.1pp |
| Net Margin | 4.3%+4.7pp | 4.7%+10.7pp | -0.8%+19.2pp | -2.2%+20.2pp | -0.4%-95.5pp | -5.9%+24.6pp | -20.0%+14.0pp | -22.4%+28.1pp |
| Return on Equity | 1.1%+1.1pp | 1.1%+1.9pp | -0.2%+2.3pp | -0.4%+2.2pp | -0.1%-10.5pp | -0.8%+2.1pp | -2.5%+0.7pp | -2.6%+1.6pp |
| Return on Assets | 0.5%+0.6pp | 0.5%+1.1pp | -0.1%+1.8pp | -0.2%+1.8pp | -0.1%-8.1pp | -0.6%+1.7pp | -1.8%+0.7pp | -2.0%+1.4pp |
| Current Ratio | 1.66-1.1x | 1.65-1.5x | 1.65-1.7x | 1.88-1.8x | 2.74-1.0x | 3.18-0.8x | 3.37-0.8x | 3.66-1.1x |
| Debt-to-Equity | 0.95+0.5x | 0.99+0.6x | 1.00+0.7x | 0.77+0.5x | 0.44+0.1x | 0.37+0.1x | 0.35+0.1x | 0.31+0.1x |
| Asset Turnover | 0.130.0x | 0.110.0x | 0.110.0x | 0.110.0x | 0.120.0x | 0.100.0x | 0.090.0x | 0.090.0x |
| FCF Margin | 35.8%+27.7pp | -2.8%-9.1pp | 30.9%+12.7pp | 52.9%+47.4pp | 8.1%-11.6pp | 6.3%+6.9pp | 18.2%+4.3pp | 5.5%-32.2pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Marqeta, Inc. MQ | FY2025 | $624.9M | -$13.9M | -2.2% | $1.7B | 41/100 |
| Pagaya Technologies Ltd. PGY | FY2025 | $1.3B | $81.4M | 6.3% | $1.7B | 57/100 |
| Payoneer Global Inc. PAYO | FY2025 | $1.1B | $73.2M | 7.0% | $2.4B | 51/100 |
| Appian APPN | FY2025 | $726.9M | $1.2M | 0.2% | $2.9B | 32/100 |
| Digitalocean Hldgs Inc DOCN | FY2025 | $901.4M | $259.3M | 28.8% | $12.8B | 50/100 |
Where Marqeta, Inc. Ranks
Frequently Asked Questions
What is Marqeta, Inc.'s annual revenue?
Marqeta, Inc. (MQ) reported $624.9M in total revenue for fiscal year 2025. This represents a 23.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Marqeta, Inc.'s revenue growing?
Marqeta, Inc. (MQ) revenue grew by 23.3% year-over-year, from $507.0M to $624.9M in fiscal year 2025.
Is Marqeta, Inc. profitable?
No, Marqeta, Inc. (MQ) reported a net income of -$13.9M in fiscal year 2025, with a net profit margin of -2.2%.
What is Marqeta, Inc.'s EBITDA?
Marqeta, Inc. (MQ) had EBITDA of -$19.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Marqeta, Inc.'s gross margin?
Marqeta, Inc. (MQ) had a gross margin of 70.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Marqeta, Inc.'s operating margin?
Marqeta, Inc. (MQ) had an operating margin of -7.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Marqeta, Inc.'s net profit margin?
Marqeta, Inc. (MQ) had a net profit margin of -2.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Marqeta, Inc.'s return on equity (ROE)?
Marqeta, Inc. (MQ) has a return on equity of -1.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Marqeta, Inc.'s free cash flow?
Marqeta, Inc. (MQ) generated $160.8M in free cash flow during fiscal year 2025. This represents a 188.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Marqeta, Inc.'s operating cash flow?
Marqeta, Inc. (MQ) generated $162.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Marqeta, Inc.'s total assets?
Marqeta, Inc. (MQ) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Marqeta, Inc.'s capital expenditures?
Marqeta, Inc. (MQ) invested $1.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Marqeta, Inc.'s current ratio?
Marqeta, Inc. (MQ) had a current ratio of 1.65 as of fiscal year 2025, which is generally considered healthy.
What is Marqeta, Inc.'s debt-to-equity ratio?
Marqeta, Inc. (MQ) had a debt-to-equity ratio of 1.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Marqeta, Inc.'s return on assets (ROA)?
Marqeta, Inc. (MQ) had a return on assets of -0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Marqeta, Inc.'s P/E ratio?
Marqeta, Inc. (MQ) trades at 162x earnings, its market capitalization divided by net income of $10.4M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.7B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Marqeta, Inc.'s price-to-sales ratio?
Marqeta, Inc. (MQ) trades at 2.5x sales, its market capitalization divided by revenue of $677.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.7B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Marqeta, Inc.'s Altman Z-Score?
Marqeta, Inc. (MQ) has an Altman Z-Score of 1.27, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Marqeta, Inc.'s Piotroski F-Score?
Marqeta, Inc. (MQ) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Marqeta, Inc.'s earnings high quality?
Marqeta, Inc. (MQ) reported a net loss of $13.9M while generating $162.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Marqeta, Inc.?
Marqeta, Inc. (MQ) scores 41 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.