Key Highlights

  • Net Revenue was USD 176,179 thousand versus 163,306 thousand, and Gross Profit was USD 122,100 thousand versus 114,557 thousand.
  • Operating expenses were USD 115,825 thousand versus 124,927 thousand; Operating Income was USD 6,275 thousand versus 10,370 thousand loss.
  • Income tax benefit was USD 104,393 thousand; Net Income was USD 115,442 thousand versus a loss of 3,624 thousand.
  • Diluted EPS was USD 1.09 versus a loss of USD 0.03, and cash was USD 697,464 thousand.

Revenue and Gross Profit

Marqeta, Inc. (NASDAQ:MQ), a card issuing and payments platform, filed its Quarterly Report for the period ended September 30, 2026. Net revenue was USD 176,179 thousand, compared with USD 163,306 thousand in the third quarter of 2025. Costs of revenue were USD 54,079 thousand versus USD 48,749 thousand, and gross profit was USD 122,100 thousand versus USD 114,557 thousand.

For the nine months ended September 30, 2026, net revenue was USD 517,972 thousand versus USD 452,771 thousand, and gross profit was USD 361,565 thousand versus USD 317,297 thousand.

Analyst estimates were EPS of USD 0.06 against reported EPS of USD 1.09, and revenue of USD 175.4 million against reported revenue of USD 176.2 million.

Operating Expenses

Compensation and benefits were USD 77,316 thousand versus USD 84,871 thousand. Technology expenses were USD 18,028 thousand versus USD 16,942 thousand, and Depreciation and amortization was USD 10,247 thousand versus USD 7,019 thousand. Professional services were USD 4,124 thousand versus USD 5,518 thousand, and Marketing and Advertising was USD 972 thousand versus USD 895 thousand. Other operating expenses were USD 4,042 thousand versus USD 8,624 thousand.

Total operating expenses were USD 115,825 thousand versus USD 124,927 thousand. Income from operations was USD 6,275 thousand, compared with a loss from operations of USD 10,370 thousand. For the nine months, income from operations was USD 12,005 thousand versus a loss of USD 38,136 thousand.

Net Income and Earnings per Share

Other income, net, was USD 4,774 thousand versus USD 7,244 thousand. Income before income tax was USD 11,049 thousand versus a loss of USD 3,126 thousand. The income tax benefit was USD 104,393 thousand, compared with an expense of USD 498 thousand.

Net income was USD 115,442 thousand versus a net loss of USD 3,624 thousand. Basic Earnings Per Share were USD 1.11 versus a loss of USD 0.03, and Diluted Earnings per Share were USD 1.09 versus a loss of USD 0.03. For the nine months, net income was USD 130,843 thousand versus a net loss of USD 12,531 thousand, and diluted earnings per share were USD 1.22 versus a loss of USD 0.11.

Comprehensive income was USD 114,995 thousand versus a comprehensive loss of USD 2,125 thousand.

Items to Follow

Investors can follow cash and cash flow. Cash and cash equivalents were USD 697,464 thousand at September 30, 2026, versus USD 709,443 thousand at December 31, 2025, and restricted cash was USD 265,445 thousand versus USD 307,593 thousand.

Net cash provided by Operating Activities for the nine months was USD 86,156 thousand versus USD 109,301 thousand. Capitalization of internal-use software was USD 24,586 thousand versus USD 21,470 thousand, and maturities of short-term investments were USD 61,656 thousand versus USD 100,160 thousand.