Loading…
Marqeta, Inc. operates a cloud-based open API platform for card issuing and transaction processing services in the United States. The company's platform also provides processor services, bank and network management, program management, and value added services; card issuing, such as debit, prepaid, credit, virtual, and physical cards; UI/UX; access to a suite of bank account and money movement features, including savings accounts, demand deposit accounts, direct deposit with early pay, ACH, cash loads, and fee-free ATMs, bill pay, and instant funding capabilities; Marqeta Dashboard, a self-service portal to access and manage all aspects of card program; TransactPay; Marqeta Hub for consumers, buy now, pay later (BNPL) providers, and card issuers; and credit capabilities, as well as Portfolio Migration which simplifies upgrading existing card programs into its platform. It offers its solutions in various verticals, including financial services, on-demand services, lending, expense management, and e-commerce enablement, as well as BNPL providers. Marqeta, Inc. was incorporated in 2010 and is headquartered in Oakland, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $625M | $-19M | $-14M | $132M | -1.8% | 23.3% | -151.0% |
| 2024 | $507M | $-7M | $27M | $37M | 2.5% | -25.0% | - |
| 2023 | $676M | $-272M | $-223M | $8M | -17.9% | -9.6% | - |
| 2022 | $748M | $-206M | $-185M | $-17M | -12.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 748.21 | 676.17 | 507 | 624.88 |
| Cost Of Revenue | 428.20 | 346.66 | 155.15 | 187.61 |
| Gross Profit | 320 | 329.51 | 351.85 | 437.27 |
| Operating Expense | 529.81 | 612.53 | 376.31 | 483.70 |
| Operating Income | -209.81 | -283.01 | -24.47 | -46.43 |
| EBITDA | -205.96 | -272.27 | -7.01 | -19.27 |
| EBIT | -209.81 | -283.01 | -24.47 | -46.43 |
| Pretax Income | -184.88 | -230.57 | 28.08 | -13.33 |
| Tax Provision | -0.10 | -7.61 | 0.79 | 0.60 |
| Net Income | -184.78 | -222.96 | 27.29 | -13.93 |
| Net Income Common Stockholders | -184.78 | -222.96 | 27.29 | -13.93 |
| Total Expenses | 958.01 | 959.19 | 531.46 | 671.31 |
| Selling General And Administration | 447.08 | 528.20 | 282.02 | 371.14 |
| Normalized EBITDA | -205.96 | -272.27 | -7.01 | -19.27 |
| Normalized Income | -184.78 | -222.96 | 27.29 | -13.93 |
| Basic EPS | -0.34 | -0.42 | 0.05 | 0 |
| Diluted EPS | -0.34 | -0.42 | 0.05 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0.03 | 0.03 | 0.21 |
| Net Income From Continuing Operation Net Minority Interest | -184.78 | -222.96 | 27.29 | -13.93 |
| Reconciled Depreciation | 3.85 | 10.74 | 17.46 | 27.16 |
| Reconciled Cost Of Revenue | 428.20 | 346.66 | 155.15 | 187.61 |
| Net Income From Continuing And Discontinued Operation | -184.78 | -222.96 | 27.29 | -13.93 |
| Rent Expense Supplemental | 4.51 | 4.36 | 6 | 3.77 |
| Total Operating Income As Reported | -209.81 | -283.01 | -24.47 | -46.43 |
| Diluted Average Shares | 545.40 | 532.54 | 518.85 | 0 |
| Basic Average Shares | 545.40 | 532.54 | 511.06 | 0 |
| Diluted NI Availto Com Stockholders | -184.78 | -222.96 | 27.29 | -13.93 |
| Net Income Including Noncontrolling Interests | -184.78 | -222.96 | 27.29 | -13.93 |
| Net Income Continuous Operations | -184.78 | -222.96 | 27.29 | -13.93 |
| Other Income Expense | 24.93 | 52.44 | 52.55 | 33.10 |
| Other Non Operating Income Expenses | 24.93 | 52.44 | 52.55 | 33.10 |
| Other Operating Expenses | 78.87 | 73.59 | 76.84 | 85.40 |
| Depreciation Amortization Depletion Income Statement | 3.85 | 10.74 | 17.46 | 27.16 |
| Depreciation And Amortization In Income Statement | 3.85 | 10.74 | 17.46 | 27.16 |
| Selling And Marketing Expense | 4 | 2.57 | 2.99 | 5.07 |
| General And Administrative Expense | 443.09 | 525.63 | 279.03 | 366.06 |
| Other Gand A | 23.48 | 21.68 | 20.06 | 21.88 |
| Rent And Landing Fees | 4.51 | 4.36 | 6 | 3.77 |
| Salaries And Wages | 415.09 | 499.60 | 252.98 | 340.42 |
| Operating Revenue | 725.63 | 654.55 | 481.67 | 594.14 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Marqeta, Inc.this co. | MQ | $1.9B | - | 2.51 | -1.8% | -55.78 |
| Vertex, Inc. | VERX | $2.0B | 306.75 | 7.55 | 2.8% | 174.36 |
| BlackLine, Inc. | BL | $1.9B | 74.43 | 5.49 | 7.4% | 22.45 |
| EVERTEC, Inc. | EVTC | $1.9B | 12.84 | 2.93 | 22.8% | 7.67 |
| Intapp, Inc. | INTA | $1.9B | - | 4.54 | -3.5% |
| -100.91 |
| Agilysys, Inc. | AGYS | $1.8B | 80.80 | 7.06 | 8.7% | 52.62 |
| BigBear.ai Holdings, Inc. | BBAI | $1.8B | - | 2.73 | -48.0% | -26.00 |
| Semrush Holdings, Inc. | SEMR | $1.8B | - | 6.27 | -6.5% | -117.61 |
| Blackbaud, Inc. | BLKB | $1.8B | 13.28 | 21.13 | 135.2% | 10.69 |
| Peer Median | - | 74.43 | 5.88 | 5.1% | 9.18 | |