Marqeta Reports Third Quarter 2026 Financial Results
Q3 2026 TPV $126B up 29% y/y, gross profit $122M up 7%, adj. EBITDA $39M up 28%, GAAP net income $115M incl. $107M tax benefit.
What this release says
Marqeta reported third quarter 2026 results with TPV of $126 billion, up 29% year over year, and gross profit of $122 million, up 7%. GAAP net income of $115 million was driven largely by a $107 million one-time, non-cash tax benefit, so the headline profit figure overstates day-to-day earnings. Adjusted EBITDA rose 28% to $39 million, which is the cleaner measure of operating performance in the release.
Key figures
- Total Processing Volume
- $126 billion
- Net Revenue
- $176 million
- Gross Profit
- $122 million
- GAAP Net Income
- $115 million
- Discrete tax benefit
- $107 million
- Adjusted EBITDA
- $39 million
Positive for shareholders
- Total Processing Volume grew 29% year over year and surpassed a $500 billion annualized run rate for the first time.
- Adjusted EBITDA grew 28% and its margin rose 3 percentage points to 22%.
- The company reported its third consecutive quarter of GAAP profitability.
Negative for shareholders
- Gross profit growth of 7% trailed the 29% growth in processing volume.
- GAAP net income depended on a $107 million non-cash tax benefit that will not recur as an operating gain.
- Net revenue growth of 8% was modest relative to the volume increase.
Written by Quantisnow AI from this release. Not financial advice.
Key terms
- Total Processing Volume (TPV):
- The total dollar value of card transactions that flow through the company's platform in a period.
- Adjusted EBITDA:
- A non-GAAP profit measure that excludes interest, taxes, depreciation, amortization and certain other items, used by management to gauge operating efficiency.
- Valuation allowance:
- A reserve against deferred tax assets that a company releases when it expects to use those tax benefits to reduce future taxes.
FAQ
How much of Marqeta's third quarter net income came from its core operations?
The release says net income of $115 million includes a $107 million discrete non-cash tax benefit, leaving the remainder as the operating contribution. Adjusted EBITDA of $39 million is the company's preferred measure of operating results.
What programs did Marqeta highlight this quarter?
Marqeta cited the Square Credit Card on the American Express Network, a Google Wallet offering for kids, a consumer debit card program for Satispay, and a partnership with Coinbase for fiat and digital asset payments.
Historical context for MQ
Across the 22 sessions after earlier MQ headlines, the stock closed higher 7 times and lower 11 times, with a median move of 1.6% in either direction. This shows timing only: many things move a stock in a session, and these figures do not show that any headline caused a move.
| Session | Earlier headline | MQ | SPY |
|---|---|---|---|
| Oct 19, 2026 | Block Selects Marqeta to Enable Square Credit Card on the American Express® Network | +0.0% | +0.4% |
| Sep 25, 2026 | Marqeta to Announce Third Quarter 2026 Results on November 3, 2026 | +3.2% | +0.5% |
| Sep 9, 2026 | BVNK and Marqeta Partner to Power Stablecoin-Card Infrastructure | -2.2% | -0.5% |
| Aug 27, 2026 | Marqeta to Participate in Upcoming Investor Conferences | +0.8% | +0.7% |
| Aug 25, 2026 | Marqeta Announces Appointment of Eugenia Gibbons as Chief Product Officer | +0.0% | +0.3% |
| Aug 6, 2026 | Marqeta Expands Collaboration with Google to Launch New Offering in Wallet for Kids | +0.2% | -0.2% |
- Market cap
- 30-day
- Sector
- Technology
- Industry
- Computer Software: Prepackaged Software
- Listed since
- 2021
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