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Marqeta (MQ) Financials

Marqeta logo
$3.86 -0.02 (-0.52%)
Closing price 04:00 PM Eastern
Extended Trading
$3.89 +0.03 (+0.75%)
As of 07:56 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Marqeta

Annual Income Statements for Marqeta

This table shows Marqeta's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -122 -48 -164 -185 -223 27 -14
Consolidated Net Income / (Loss)		 -58 -48 -164 -185 -223 27 -14
Net Income / (Loss) Continuing Operations		 -58 -48 -164 -185 -223 27 -14
Total Pre-Tax Income 		-58 -48 -165 -185 -231 28 -13
Total Operating Income		 -59 -47 -162 -210 -283 -24 -46
Total Gross Profit		 60 118 232 320 330 352 437
Total Revenue		 143 290 517 748 676 507 625
Operating Revenue		 143 290 517 748 676 507 625
Total Cost of Revenue		 83 172 285 428 793 553 188
Operating Cost of Revenue		 83 172 285 428 793 553 188
Total Operating Expenses		 119 165 394 530 166 -21 484
Selling, General & Admin Expense		 22 155 66 102 95 97 107
Marketing Expense		 2.08 1.67 2.28 4.00 2.57 2.99 5.07
Depreciation Expense		 3.08 3.50 3.53 3.85 11 17 27
Other Operating Expenses / (Income)		 92 4.34 322 420 58 -139 344
Total Other Income / (Expense), net		 0.70 -0.52 -2.56 25 52 53 33
Other Income / (Expense), net		 0.70 -0.52 -2.56 25 52 53 33
Income Tax Expense		 0.04 0.09 -0.64 -0.10 -7.61 0.79 0.60
Weighted Average Basic Shares Outstanding		 113.85M 122.93M 362.76M 545.40M 532.54M 511.07M 462.17M
Weighted Average Diluted Shares Outstanding		 113.85M 122.93M 362.76M 545.40M 532.54M 518.85M 462.17M
Weighted Average Basic & Diluted Shares Outstanding		 - - 542.80M 538.58M 513.81M 504.32M 427.21M

Quarterly Income Statements for Marqeta

This table shows Marqeta's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -55 -40 -36 119 -29 -27 -8.26 -0.65 -3.62 -1.39 7.83
Consolidated Net Income / (Loss)		 -55 -40 -36 119 -29 -27 -8.26 -0.65 -3.62 -1.39 7.83
Net Income / (Loss) Continuing Operations		 -55 -40 -36 119 -29 -27 -8.26 -0.65 -3.62 -1.39 7.83
Total Pre-Tax Income 		-55 -41 -36 119 -29 -27 -8.03 -0.44 -3.13 -1.74 8.03
Total Operating Income		 -70 -56 -50 105 -42 -37 -19 -9.23 -10 -8.29 2.09
Total Gross Profit		 73 83 84 79 90 98 99 104 115 120 118
Total Revenue		 109 119 118 125 128 136 139 150 163 172 166
Operating Revenue		 109 119 118 125 128 136 139 150 163 172 166
Total Cost of Revenue		 36 -78 34 149 38 -66 40 46 49 52 48
Operating Cost of Revenue		 36 -78 34 149 38 -66 40 46 49 52 48
Total Operating Expenses		 142 253 134 -129 132 239 117 113 125 128 115
Selling, General & Admin Expense		 22 25 21 23 25 28 24 24 31 28 26
Marketing Expense		 0.35 1.22 0.38 0.73 0.58 1.30 0.47 0.71 0.90 3.00 1.16
Depreciation Expense		 3.11 3.16 3.54 3.96 4.45 5.52 5.33 6.65 7.02 8.16 8.85
Other Operating Expenses / (Income)		 117 224 109 -157 102 204 87 82 86 89 79
Total Other Income / (Expense), net		 15 15 14 14 14 11 11 8.79 7.24 6.56 5.93
Other Income / (Expense), net		 15 15 14 14 14 11 11 8.79 7.24 6.56 5.93
Income Tax Expense		 0.24 -1.03 0.13 0.15 0.12 0.39 0.24 0.21 0.50 -0.34 0.19
Weighted Average Basic Shares Outstanding		 529.49M 532.54M 517.99M 515.96M 507.16M 511.07M 501.22M 461.52M 448.72M 462.17M 428.60M
Weighted Average Diluted Shares Outstanding		 529.49M 532.54M 517.99M 524.40M 507.16M 518.85M 501.22M 461.52M 448.72M 462.17M 433.57M
Weighted Average Basic & Diluted Shares Outstanding		 521.85M 513.81M 518.11M 508.37M 502.39M 504.32M 468.27M 448.23M 440.10M 427.21M 424.03M

Annual Cash Flow Statements for Marqeta

This table details how cash moves in and out of Marqeta's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 23 160 1,027 -64 -202 -58 86
Net Cash From Operating Activities		 -15 50 57 -13 21 58 163
Net Cash From Continuing Operating Activities		 -15 50 57 -13 21 58 163
Net Income / (Loss) Continuing Operations		 -58 -48 -164 -185 -223 27 -14
Consolidated Net Income / (Loss)		 -58 -48 -164 -185 -223 27 -14
Depreciation Expense		 3.08 3.50 3.53 3.85 11 17 27
Amortization Expense		 -0.50 0.54 1.16 0.28 -4.50 -3.23 -0.76
Non-Cash Adjustments To Reconcile Net Income		 39 78 192 172 236 29 137
Changes in Operating Assets and Liabilities, net		 0.95 16 24 -3.97 1.83 -12 13
Net Cash From Investing Activities		 -100 -58 -329 29 39 71 271
Net Cash From Continuing Investing Activities		 -100 -58 -329 29 39 71 271
Purchase of Property, Plant & Equipment		 -4.91 -2.38 -2.74 -2.32 -13 -21 -30
Acquisitions		 -0.75 0.00 -20 -1.60 -136 0.00 -46
Purchase of Investments		 -528 -216 -455 -70 -892 0.00 -3.50
Sale and/or Maturity of Investments		 434 161 149 77 1,079 92 121
Other Investing Activities, net		 - - - 0.00 -0.09 0.00 230
Net Cash From Financing Activities		 139 167 1,299 -79 -262 -187 -347
Net Cash From Continuing Financing Activities		 139 167 1,299 -79 -262 -187 -347
Repurchase of Common Equity		 0.00 -2.71 -4.76 -78 -190 -154 -391
Issuance of Common Equity		 0.00 0.00 1,323 4.76 3.07 2.72 2.10
Other Financing Activities, net		 1.06 3.14 -19 -6.11 -74 -35 42
Cash Income Taxes Paid		 - - 0.20 0.08 0.43 0.40 0.60

Quarterly Cash Flow Statements for Marqeta

This table details how cash moves in and out of Marqeta's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -3.98 34 -11 -46 -38 37 -92 -98 241 35 -62
Net Cash From Operating Activities		 41 17 0.43 26 7.28 25 9.99 13 87 53 -3.37
Net Cash From Continuing Operating Activities		 41 17 0.43 26 7.28 25 9.99 13 87 53 -3.37
Net Income / (Loss) Continuing Operations		 -55 -40 -36 119 -29 -27 -8.26 -0.65 -3.62 -1.39 7.83
Consolidated Net Income / (Loss)		 -55 -40 -36 119 -29 -27 -8.26 -0.65 -3.62 -1.39 7.83
Depreciation Expense		 3.11 3.16 3.54 3.96 4.45 5.52 5.33 6.65 7.02 8.16 8.85
Amortization Expense		 -3.21 1.03 -0.98 -0.85 -0.83 -0.58 -0.40 -0.22 -0.08 -0.06 -0.03
Non-Cash Adjustments To Reconcile Net Income		 58 62 55 -127 43 57 45 18 36 39 41
Changes in Operating Assets and Liabilities, net		 38 -9.39 -21 30 -11 -10 -31 -11 48 7.66 -61
Net Cash From Investing Activities		 79 82 34 -6.17 9.71 34 15 61 183 13 16
Net Cash From Continuing Investing Activities		 79 82 34 -6.17 9.71 34 15 61 183 13 16
Purchase of Property, Plant & Equipment		 -3.15 -2.44 -6.50 -6.17 -4.30 -4.25 -7.33 -7.87 -8.26 -6.80 -9.08
Sale and/or Maturity of Investments		 779 4.52 40 - 14 38 22 69 9.24 21 25
Net Cash From Financing Activities		 -124 -65 -45 -65 -55 -22 -117 -172 -28 -31 -75
Net Cash From Continuing Financing Activities		 -124 -65 -45 -65 -55 -22 -117 -172 -28 -31 -75
Repurchase of Common Equity		 -64 -59 -34 -57 -47 -17 -111 -164 -20 -97 -39
Other Financing Activities, net		 -60 -6.90 -11 -9.31 -8.74 -6.28 -5.66 -8.65 -8.29 65 -35

Annual Balance Sheets for Marqeta

This table presents Marqeta's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 458 1,830 1,770 1,590 1,463 1,525
Total Current Assets		 431 1,799 1,747 1,389 1,249 1,235
Cash & Equivalents		 220 1,248 1,184 981 923 709
Restricted Cash		 7.80 7.80 7.80 8.50 8.50 308
Short-Term Investments		 150 453 441 269 179 62
Accounts Receivable		 28 44 58 73 97 102
Prepaid Expenses		 11 36 38 27 25 35
Other Current Assets		 13 11 18 30 16 18
Plant, Property, & Equipment, net		 9.48 9.69 7.44 19 38 60
Total Noncurrent Assets		 17 22 16 182 176 230
Goodwill		 - - 0.00 124 124 155
Intangible Assets		 - - 0.00 36 30 51
Other Noncurrent Operating Assets		 17 14 16 23 23 24
Total Liabilities & Shareholders' Equity		 458 1,830 1,770 1,590 1,463 1,525
Total Liabilities		 170 257 297 346 378 763
Total Current Liabilities		 141 238 283 337 371 749
Accounts Payable		 2.36 2.69 3.80 1.42 0.53 1.85
Accrued Expenses		 139 235 279 335 370 440
Other Current Liabilities		 - - - - 0.00 307
Total Noncurrent Liabilities		 28 19 15 9.72 7.20 14
Other Noncurrent Operating Liabilities		 28 19 15 9.72 7.20 14
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -214 1,573 1,473 1,243 1,085 762
Total Preferred & Common Equity		 -214 1,573 1,473 1,243 1,085 762
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -214 1,573 1,473 1,243 1,085 762
Common Stock		 40 1,993 2,082 2,068 1,883 1,572
Retained Earnings		 -254 -417 -602 -825 -798 -812
Accumulated Other Comprehensive Income / (Loss)		 0.03 -2.23 -7.24 0.76 -0.31 1.51

Quarterly Balance Sheets for Marqeta

This table presents Marqeta's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 1,774 1,774 1,704 1,603 1,558 1,488 1,436 1,350 1,215 1,488 1,477
Total Current Assets		 1,743 1,585 1,514 1,407 1,348 1,273 1,221 1,135 990 1,200 1,188
Cash & Equivalents		 1,205 1,050 950 948 970 925 886 831 733 747 675
Restricted Cash		 7.80 7.80 9.38 7.80 8.50 8.50 8.50 8.50 7.61 235 280
Short-Term Investments		 441 409 432 349 228 229 218 158 89 83 37
Accounts Receivable		 40 73 82 50 78 60 73 93 122 85 126
Prepaid Expenses		 39 34 29 33 27 23 24 30 24 35 38
Other Current Assets		 10 11 11 20 37 28 12 14 15 16 32
Plant, Property, & Equipment, net		 8.03 11 14 17 28 33 36 43 50 57 64
Total Noncurrent Assets		 23 179 176 179 182 182 179 172 174 232 224
Goodwill		 - 123 123 123 124 124 124 124 124 154 154
Intangible Assets		 - - - - 34 33 31 28 27 54 48
Other Noncurrent Operating Assets		 16 55 53 56 24 26 24 21 24 24 22
Total Liabilities & Shareholders' Equity		 1,774 1,774 1,704 1,603 1,558 1,488 1,436 1,350 1,215 1,488 1,477
Total Liabilities		 262 341 332 308 348 346 340 362 371 649 734
Total Current Liabilities		 250 326 318 297 339 338 334 357 361 637 721
Accounts Payable		 2.74 2.98 2.82 1.71 0.92 3.69 1.03 1.55 3.44 1.52 0.79
Accrued Expenses		 247 323 316 295 338 334 333 355 358 401 440
Other Current Liabilities		 - - - - - - - - - 234 280
Total Noncurrent Liabilities		 12 14 13 11 9.11 8.06 6.61 5.39 9.86 12 13
Other Noncurrent Operating Liabilities		 12 14 13 11 9.11 8.06 6.61 5.39 9.86 12 13
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,512 1,434 1,373 1,295 1,211 1,142 1,096 987 843 839 742
Total Preferred & Common Equity		 1,512 1,434 1,373 1,295 1,211 1,142 1,096 987 843 839 742
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,512 1,434 1,373 1,295 1,211 1,142 1,096 987 843 839 742
Common Stock		 2,099 2,108 2,104 2,082 2,073 1,886 1,866 1,794 1,650 1,648 1,547
Retained Earnings		 -576 -671 -730 -785 -861 -742 -771 -806 -807 -810 -804
Accumulated Other Comprehensive Income / (Loss)		 -11 -3.18 -1.48 -1.84 -0.82 -1.27 0.83 -0.28 -0.10 1.40 -0.31

Annual Metrics And Ratios for Marqeta

This table displays calculated financial ratios and metrics derived from Marqeta's official financial filings.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - -
Revenue Growth		 0.00% 102.62% 78.16% 44.67% -9.63% -25.02% 23.25%
EBITDA Growth		 0.00% 21.62% -266.96% -13.06% -24.11% 118.86% -69.09%
EBIT Growth		 0.00% 18.15% -245.68% -12.34% -24.71% 112.18% -147.47%
NOPAT Growth		 0.00% 20.01% -244.06% -29.51% -34.89% 88.00% -36.70%
Net Income Growth		 0.00% 18.05% -243.70% -12.72% -20.66% 112.24% -151.03%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Growth		 0.00% 425.86% 13.33% -122.76% 262.76% 175.64% 179.57%
Free Cash Flow Firm Growth		 0.00% 0.00% -205.53% -116.97% -162.66% 96.30% 2,145.57%
Invested Capital Growth		 0.00% 0.00% -59.18% -11.41% 90.72% -75.04% -1,125.78%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 6.91% -11.17% 3.46% 6.17%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 5.95% -5.75% 57.39% 186.81%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 5.97% -7.23% 109.54% 65.21%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% -8.59% -0.72% 47.65% 38.55%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 5.37% -6.72% 94.48% 64.88%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 147.15% -146.77% 8.17% 16.49% 21.31%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -2.00% 67.05% 66.09%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -6.87% -50.10% -53.95% -40.67%
Profitability Metrics		 - - - - - - -
Gross Margin		 42.20% 40.62% 44.80% 42.77% 48.73% 69.40% 69.98%
EBITDA Margin		 -38.80% -15.01% -30.91% -24.16% -33.18% 8.34% 2.09%
Operating Margin		 -41.09% -16.22% -31.33% -28.04% -41.86% -4.83% -7.43%
EBIT Margin		 -40.60% -16.40% -31.82% -24.71% -34.10% 5.54% -2.13%
Profit (Net Income) Margin		 -40.62% -16.43% -31.70% -24.70% -32.97% 5.38% -2.23%
Tax Burden Percent		 100.06% 100.18% 99.61% 99.94% 96.70% 97.18% 104.47%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 2.82% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% -16.55% -17.61% -12.13% -16.42% 2.34% -1.51%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% -10.40% -14.39% -10.27% -13.72% 1.84% -0.89%
Return on Assets (ROA)		 0.00% -10.42% -14.33% -10.26% -13.27% 1.79% -0.93%
Return on Common Equity (ROCE)		 0.00% 12.28% -12.86% -12.13% -16.42% 2.34% -1.51%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 22.32% -10.42% -12.54% -17.93% 2.51% 0.00%
Net Operating Profit after Tax (NOPAT)		 -41 -33 -113 -147 -198 -24 -33
NOPAT Margin		 -28.76% -11.35% -21.93% -19.63% -29.30% -4.69% -5.20%
Net Nonoperating Expense Percent (NNEP)		 0.00% -7.79% -4.82% -2.26% -1.72% 4.31% 1.70%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -9.97% -15.93% -2.19% -4.27%
Cost of Revenue to Revenue		 57.80% 59.38% 55.20% 57.23% 51.27% 30.60% 30.02%
SG&A Expenses to Revenue		 15.40% 53.56% 12.68% 13.68% 14.09% 19.11% 17.17%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 83.28% 56.84% 76.13% 70.81% 90.59% 74.22% 77.41%
Earnings before Interest and Taxes (EBIT)		 -58 -48 -165 -185 -231 28 -13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -56 -44 -160 -181 -224 42 13
Valuation Ratios		 - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 5.89 2.26 2.93 1.75 2.74
Price to Tangible Book Value (P/TBV)		 0.00 0.00 5.89 2.26 3.36 2.04 3.76
Price to Revenue (P/Rev)		 8.57 4.23 17.93 4.45 5.39 3.76 3.35
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 69.78 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 1.43% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 4.65 14.61 2.27 3.53 1.56 1.62
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 18.75 77.30
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 28.25 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 26.87 132.65 0.00 112.98 13.64 6.22
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 23.70 0.00 0.00 0.00 0.00 3.90
Leverage & Solvency		 - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 -1.31 -1.13 -1.10 -1.06 -1.02 -1.19
Leverage Ratio		 0.00 1.59 1.23 1.18 1.24 1.31 1.62
Compound Leverage Factor		 0.00 1.59 1.23 1.18 1.24 1.31 1.62
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 174.17% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% -74.17% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 4.62 22.35 7.31 6.33 3.39 1.66
Noncontrolling Interest Sharing Ratio		 0.00% 174.17% 26.96% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - -
Current Ratio		 0.00 3.05 7.56 6.18 4.13 3.37 1.65
Quick Ratio		 0.00 2.83 7.33 5.95 3.93 3.23 1.17
Cash Flow Metrics		 - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 57 -60 -131 -343 -13 259
Operating Cash Flow to CapEx		 -314.34% 2,116.76% 2,077.00% -559.12% 166.82% 274.23% 537.42%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - -
Asset Turnover		 0.00 0.63 0.45 0.42 0.40 0.33 0.42
Accounts Receivable Turnover		 0.00 10.21 14.36 14.70 10.28 5.96 6.27
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 30.63 53.97 87.37 51.61 18.01 12.83
Accounts Payable Turnover		 0.00 72.98 112.95 131.94 132.87 159.37 158.06
Days Sales Outstanding (DSO)		 0.00 35.76 25.42 24.83 35.51 61.23 58.19
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 5.00 3.23 2.77 2.75 2.29 2.31
Cash Conversion Cycle (CCC)		 0.00 30.76 22.19 22.07 32.77 58.94 55.88
Capital & Investment Metrics		 - - - - - - -
Invested Capital		 0.00 -90 -143 -160 -15 -26 -318
Invested Capital Turnover		 0.00 -6.45 -4.44 -4.94 -7.76 -24.91 -3.64
Increase / (Decrease) in Invested Capital		 0.00 -90 -53 -16 145 -11 -292
Enterprise Value (EV)		 0.00 1,351 7,558 1,698 2,384 793 1,011
Market Capitalization		 1,227 1,227 9,274 3,331 3,643 1,904 2,090
Book Value per Share		 $0.00 ($1.74) $2.91 $2.70 $2.38 $2.16 $1.73
Tangible Book Value per Share		 $0.00 ($1.74) $2.91 $2.70 $2.08 $1.85 $1.26
Total Capital		 0.00 288 1,573 1,473 1,243 1,085 762
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 0.00 -378 -1,717 -1,633 -1,258 -1,111 -1,080
Capital Expenditures (CapEx)		 4.91 2.38 2.74 2.32 13 21 30
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -88 -147 -169 -206 -233 -593
Debt-free Net Working Capital (DFNWC)		 0.00 290 1,561 1,464 1,052 878 486
Net Working Capital (NWC)		 0.00 290 1,561 1,464 1,052 878 486
Net Nonoperating Expense (NNE)		 17 15 51 38 25 -51 -19
Net Nonoperating Obligations (NNO)		 0.00 -378 -1,717 -1,633 -1,258 -1,111 -1,080
Total Depreciation and Amortization (D&A)		 2.58 4.04 4.70 4.13 6.25 14 26
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -30.43% -28.52% -22.54% -30.48% -45.88% -94.94%
Debt-free Net Working Capital to Revenue		 0.00% 99.83% 301.79% 195.65% 155.60% 173.24% 77.82%
Net Working Capital to Revenue		 0.00% 99.83% 301.79% 195.65% 155.60% 173.24% 77.82%
Earnings Adjustments		 - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($0.45) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 362.76M 545.40M 532.54M 511.07M 462.17M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 362.76M 545.40M 532.54M 518.85M 462.17M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 542.80M 538.58M 513.81M 504.32M 427.21M
Normalized Net Operating Profit after Tax (NOPAT)		 -41 -33 -113 -147 -198 -24 -33
Normalized NOPAT Margin		 -28.76% -11.35% -21.93% -19.63% -29.30% -4.69% -5.20%
Pre Tax Income Margin		 -40.60% -16.40% -31.82% -24.71% -34.10% 5.54% -2.13%
Debt Service Ratios		 - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% -5.68% -2.90% -42.29% -85.40% 565.93% -2,810.53%

Quarterly Metrics And Ratios for Marqeta

This table displays calculated financial ratios and metrics derived from Marqeta's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 427,211,892.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 427,211,892.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.02
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -43.17% -41.70% -45.72% -45.80% 17.52% 14.28% 17.89% 20.05% 27.62% 26.75% 19.22%
EBITDA Growth		 -5.26% -48.81% 55.37% 312.81% 54.60% 41.45% 90.74% -95.10% 115.31% 129.19% 645.21%
EBIT Growth		 -2.99% -60.14% 52.58% 303.31% 47.90% 35.45% 77.66% -100.37% 89.04% 93.50% 200.02%
NOPAT Growth		 -17.36% -3.70% 42.98% 315.89% 39.52% 33.57% 62.81% -106.16% 75.44% 77.84% 115.75%
Net Income Growth		 -3.43% -53.36% 47.59% 302.58% 47.91% 32.83% 77.09% -100.54% 87.35% 94.86% 194.84%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Growth		 1,140.29% 10.68% 104.04% 198.98% -82.29% 49.83% 2,244.37% -51.19% 1,091.69% 115.40% -133.71%
Free Cash Flow Firm Growth		 -4,792.76% -749.07% 50.43% 159.99% 88.00% 91.81% 100.26% -138.35% 992.52% 1,994.11% 131,429.10%
Invested Capital Growth		 93.39% 90.72% 110.48% -2.16% -70.65% -75.04% -377.76% 172.33% -1,241.51% -1,125.78% -2,485.23%
Revenue Q/Q Growth		 -52.88% 9.12% -0.72% 6.19% 2.15% 6.11% 2.42% 8.14% 8.59% 5.39% -3.67%
EBITDA Q/Q Growth		 4.60% 32.16% 10.34% 466.74% -120.35% 12.53% 85.82% 294.05% -36.39% 66.73% 164.93%
EBIT Q/Q Growth		 6.66% 24.38% 13.23% 431.95% -123.92% 6.32% 69.97% 94.50% -608.84% 44.43% 562.12%
NOPAT Q/Q Growth		 -0.58% 19.32% 11.51% 400.63% -128.18% 11.38% 50.47% 50.22% -12.38% 20.02% 135.20%
Net Income Q/Q Growth		 6.47% 26.58% 10.69% 430.31% -124.05% 5.32% 69.54% 92.17% -460.12% 61.53% 661.98%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 258.24% -59.80% -97.42% 5,934.74% -71.68% 239.99% -59.66% 25.63% 591.54% -38.55% -106.31%
Free Cash Flow Firm Q/Q Growth		 -7.25% 2.19% 61.11% 247.06% -121.45% 33.21% 101.22% -22,002.17% 599.32% 41.75% -15.15%
Invested Capital Q/Q Growth		 48.83% -50.10% 123.54% -665.10% 14.53% -53.95% 62.65% 247.15% -1,685.32% -40.67% 21.22%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 66.59% 70.05% 71.34% 63.35% 70.43% 72.32% 70.95% 69.19% 70.15% 69.71% 70.92%
EBITDA Margin		 -50.38% -31.32% -28.28% 97.68% -19.46% -16.04% -2.22% 3.99% 2.34% 3.69% 10.16%
Operating Margin		 -64.12% -47.41% -42.26% 83.85% -33.00% -27.56% -13.33% -6.14% -6.35% -4.82% 1.26%
EBIT Margin		 -50.28% -34.84% -30.45% 95.20% -22.29% -19.68% -5.77% -0.29% -1.91% -1.01% 4.84%
Profit (Net Income) Margin		 -50.50% -33.98% -30.57% 95.08% -22.38% -19.97% -5.94% -0.43% -2.22% -0.81% 4.73%
Tax Burden Percent		 100.43% 97.51% 100.37% 99.87% 100.40% 101.47% 102.93% 146.71% 115.93% 80.25% 97.60%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.13% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.40%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -14.88% -16.42% -14.39% -0.98% 1.17% 2.34% 5.01% -6.51% -4.10% -1.51% 0.25%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -5,985.27% 0.00% 0.00% 0.00% 0.00% -766.32% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -22.66% -14.02% -10.54% 28.09% -7.19% -6.54% -2.10% -0.12% -0.77% -0.42% 2.23%
Return on Assets (ROA)		 -22.76% -13.68% -10.58% 28.05% -7.22% -6.63% -2.16% -0.18% -0.89% -0.34% 2.18%
Return on Common Equity (ROCE)		 -14.88% -16.42% -14.39% -0.98% 1.17% 2.34% 5.01% -6.51% -4.10% -1.51% 0.25%
Return on Equity Simple (ROE_SIMPLE)		 -16.13% 0.00% -15.71% -1.08% 1.28% 0.00% 5.58% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -49 -39 -35 105 -30 -26 -13 -6.46 -7.26 -5.81 2.04
NOPAT Margin		 -44.89% -33.19% -29.58% 83.75% -23.10% -19.29% -9.33% -4.30% -4.45% -3.37% 1.23%
Net Nonoperating Expense Percent (NNEP)		 -0.41% -0.07% -0.09% 1.11% 0.08% -0.08% 0.43% 0.58% 0.33% 0.40% 0.58%
Return On Investment Capital (ROIC_SIMPLE)		 - -3.17% - - - -2.41% -1.31% -0.77% -0.87% -0.76% 0.28%
Cost of Revenue to Revenue		 33.41% -65.59% 28.66% 119.01% 29.57% -48.29% 29.05% 30.81% 29.85% 30.29% 29.08%
SG&A Expenses to Revenue		 20.17% 20.97% 17.71% 18.36% 19.69% 20.49% 17.58% 15.74% 19.03% 16.31% 15.85%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 130.71% 213.00% 113.60% -102.86% 103.44% 175.86% 84.28% 75.33% 76.50% 74.53% 69.66%
Earnings before Interest and Taxes (EBIT)		 -55 -41 -36 119 -29 -27 -8.03 -0.44 -3.13 -1.74 8.03
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -55 -37 -33 122 -25 -22 -3.09 6.00 3.81 6.36 17
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.45 2.93 2.53 2.49 2.28 1.75 2.10 3.24 2.82 2.74 2.35
Price to Tangible Book Value (P/TBV)		 2.71 3.36 2.91 2.88 2.66 2.04 2.49 3.94 3.75 3.76 3.23
Price to Revenue (P/Rev)		 4.17 5.39 5.31 6.03 5.10 3.76 3.93 4.93 4.02 3.35 2.68
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 178.26 69.78 37.72 0.00 0.00 0.00 803.61
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.56% 1.43% 2.65% 0.00% 0.00% 0.00% 0.12%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 532.47 0.00 0.00 0.00 0.00 133.48 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 2.45 3.53 3.22 3.56 2.83 1.56 2.05 3.44 2.21 1.62 1.15
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 51.66 18.75 14.89 0.00 0.00 77.30 22.73
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 103.63 28.25 19.31 0.00 0.00 0.00 275.64
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 160.40 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 95.75 112.98 57.84 20.02 27.81 13.64 15.96 34.83 9.71 6.22 5.03
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 54.32 0.00 8.34 3.90 3.41
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.06 -1.06 -1.01 -1.02 -1.01 -1.02 -1.00 -1.00 -1.13 -1.19 -1.15
Leverage Ratio		 1.20 1.24 1.26 1.27 1.27 1.31 1.32 1.36 1.51 1.62 1.63
Compound Leverage Factor		 1.20 1.24 1.26 1.27 1.27 1.31 1.32 1.36 1.51 1.62 1.63
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 6.69 6.72 5.58 5.56 4.68 3.26 3.67 4.56 2.27 1.69 1.50
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 4.74 4.13 3.98 3.77 3.66 3.37 3.18 2.74 1.88 1.65 1.65
Quick Ratio		 4.54 3.93 3.77 3.59 3.53 3.23 3.03 2.61 1.44 1.17 1.16
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -188 -184 -72 105 -23 -15 0.18 -40 202 286 243
Operating Cash Flow to CapEx		 1,306.07% 676.85% 6.56% 416.93% 169.52% 582.06% 136.34% 159.35% 1,050.07% 784.38% -37.09%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.45 0.40 0.35 0.30 0.32 0.33 0.36 0.41 0.40 0.42 0.46
Accounts Receivable Turnover		 16.90 10.28 7.64 6.61 7.95 5.96 6.18 6.07 7.45 6.27 5.95
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 60.77 51.61 29.73 19.90 18.56 18.01 14.94 13.29 12.75 12.83 12.24
Accounts Payable Turnover		 243.38 132.87 129.48 43.47 104.50 159.37 131.17 16.56 54.91 158.06 167.10
Days Sales Outstanding (DSO)		 21.60 35.51 47.76 55.20 45.91 61.23 59.10 60.17 48.97 58.19 61.37
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 1.50 2.75 2.82 8.40 3.49 2.29 2.78 22.05 6.65 2.31 2.18
Cash Conversion Cycle (CCC)		 20.10 32.77 44.94 46.80 42.42 58.94 56.32 38.12 42.32 55.88 59.19
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -9.86 -15 3.48 -20 -17 -26 -9.68 14 -226 -318 -250
Invested Capital Turnover		 -9.56 -7.76 -38.77 -24.18 -36.72 -24.91 -170.55 -203.09 -4.85 -3.64 -5.02
Increase / (Decrease) in Invested Capital		 139 145 37 -0.42 -6.97 -11 -13 34 -209 -292 -240
Enterprise Value (EV)		 1,868 2,384 1,855 1,677 1,389 793 1,081 1,901 1,302 1,011 751
Market Capitalization		 3,173 3,643 3,062 2,839 2,501 1,904 2,078 2,730 2,367 2,090 1,743
Book Value per Share		 $2.44 $2.38 $2.36 $2.20 $2.16 $2.16 $1.96 $1.80 $1.87 $1.73 $1.74
Tangible Book Value per Share		 $2.21 $2.08 $2.05 $1.90 $1.85 $1.85 $1.66 $1.48 $1.41 $1.26 $1.26
Total Capital		 1,295 1,243 1,211 1,142 1,096 1,085 987 843 839 762 742
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -1,305 -1,258 -1,207 -1,162 -1,112 -1,111 -997 -829 -1,065 -1,080 -992
Capital Expenditures (CapEx)		 3.15 2.44 6.50 6.17 4.30 4.25 7.33 7.87 8.26 6.80 9.08
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -195 -206 -198 -227 -225 -233 -219 -200 -502 -593 -525
Debt-free Net Working Capital (DFNWC)		 1,110 1,052 1,010 935 888 878 778 629 563 486 467
Net Working Capital (NWC)		 1,110 1,052 1,010 935 888 878 778 629 563 486 467
Net Nonoperating Expense (NNE)		 6.11 0.94 1.16 -14 -0.92 0.92 -4.72 -5.81 -3.64 -4.41 -5.79
Net Nonoperating Obligations (NNO)		 -1,305 -1,258 -1,207 -1,162 -1,112 -1,111 -997 -829 -1,065 -1,080 -992
Total Depreciation and Amortization (D&A)		 -0.11 4.19 2.56 3.11 3.62 4.94 4.94 6.44 6.94 8.10 8.82
Debt-free, Cash-free Net Working Capital to Revenue		 -25.57% -30.48% -34.26% -48.20% -45.89% -45.88% -41.52% -36.20% -85.25% -94.94% -80.60%
Debt-free Net Working Capital to Revenue		 145.88% 155.60% 175.03% 198.55% 181.13% 173.24% 147.26% 113.69% 95.70% 77.82% 71.71%
Net Working Capital to Revenue		 145.88% 155.60% 175.03% 198.55% 181.13% 173.24% 147.26% 113.69% 95.70% 77.82% 71.71%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 529.49M 532.54M 517.99M 515.96M 507.16M 511.07M 501.22M 461.52M 448.72M 462.17M 428.60M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 529.49M 532.54M 517.99M 524.40M 507.16M 518.85M 501.22M 461.52M 448.72M 462.17M 433.57M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 521.85M 513.81M 518.11M 508.37M 502.39M 504.32M 468.27M 448.23M 440.10M 427.21M 424.03M
Normalized Net Operating Profit after Tax (NOPAT)		 -49 -39 -35 105 -30 -26 -13 -6.46 -7.26 -5.81 2.04
Normalized NOPAT Margin		 -44.89% -33.19% -29.58% 83.75% -23.10% -19.29% -9.33% -4.30% -4.45% -3.37% 1.23%
Pre Tax Income Margin		 -50.28% -34.84% -30.45% 95.20% -22.29% -19.68% -5.77% -0.29% -1.91% -1.01% 4.84%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -94.27% -85.40% -106.33% -1,741.71% 1,401.32% 565.93% 421.26% -523.44% -785.63% -2,810.53% 14,719.36%

Financials Breakdown Chart

Key Financial Trends

Marqeta (MQ) has shown a mix of improving cash generation and ongoing profitability challenges across its latest four years of quarterly results. The bullets below highlight the most material trends observed in the data you provided.

  • Revenue recovery in 2025: Operating revenue rose each quarter in 2025, reaching 172,113,000 in Q4 2025, up from 139,073,000 in Q1 2025 and 150,392,000 in Q2 2025, indicating a year-over-year and intra-year rebound.
  • Gross margins remain solid and stable: Total gross profit trends with quarterly revenue suggest gross margins around 69–71% in 2025 (for example, Q4 2025 gross profit 119,975,000 on 172,113,000 revenue), indicating consistent profitability at the gross level.
  • Operating cash flow turning positive in 2025: Net cash from continuing operating activities was strong in 2025, with 86,767,000 in Q3 2025 and 53,322,000 in Q4 2025, signaling growing cash generation from core operations despite ongoing losses.
  • Liquidity remains substantial in mid-2025: As of Q3 2025, cash & equivalents were 747,248,000 and restricted cash 234,519,000, totaling about 981,767,000 in readily available liquidity to fund operations and investments.
  • Shareholder capital actions indicate capital discipline: The company engaged in meaningful share repurchases in 2025 (for example, 163,923,000 in Q2 2025 and 96,578,000 in Q4 2025), which reduce cash in the near term but may reflect confidence in long-term value.
  • Net income remains negative but shows improvement within 2025: Net income attributable to common shareholders was negative in all 2025 quarters but improved by Q4 2025 to -1,394,000 from larger losses in earlier quarters (e.g., Q1 2025 and Q3 2025).
  • Investing activity is volatile but impactful: Net cash from investing activities varied by quarter (e.g., substantial outflow in Q3 2025 around 128,720,000 versus more modest outlays later), reflecting timing of investments and maturities that swing cash flow.
  • Persistent losses and negative operating income: Total operating income remained negative across recent quarters (for example, -8,294,000 in Q4 2025 and -10,373,000 in Q3 2025), underscoring ongoing profitability challenges.
  • Non-cash and one-time expenses weigh on results: Other operating expenses / (income) and large non-cash adjustments contributed sizable drag in multiple quarters (e.g., 89,037,000 in Q4 2025 and 85,929,000 in Q3 2025), affecting reported profitability.
  • Accumulated losses reflected in retained earnings: Retained earnings sit negative (e.g., -810,439,000 in Q3 2025 and similar levels in adjacent periods), indicating substantial cumulative losses over the years and ongoing impact on shareholder equity.
05/14/26 06:41 PM ETAI Generated. May Contain Errors.

Marqeta Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Marqeta's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Marqeta's net income appears to be on a downward trend, with a most recent value of -$13.93 million in 2025, falling from -$58.20 million in 2019. The previous period was $27.29 million in 2024. See where experts think Marqeta is headed by visiting Marqeta's forecast page.

Marqeta's total operating income in 2025 was -$46.43 million, based on the following breakdown:
  • Total Gross Profit: $437.27 million
  • Total Operating Expenses: $483.70 million

Over the last 6 years, Marqeta's total revenue changed from $143.27 million in 2019 to $624.88 million in 2025, a change of 336.2%.

Marqeta's total liabilities were at $763.08 million at the end of 2025, a 101.8% increase from 2024, and a 350.1% increase since 2020.

In the past 5 years, Marqeta's cash and equivalents has ranged from $220.43 million in 2020 to $1.25 billion in 2021, and is currently $709.44 million as of their latest financial filing in 2025.

Over the last 6 years, Marqeta's book value per share changed from 0.00 in 2019 to 1.73 in 2025, a change of 173.1%.


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Financial statements for NASDAQ:MQ last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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