Marqeta Inc
NASDAQ:MQ
Marqeta Inc
Marqeta Inc., founded in 2010 by Jason Gardner, has carved out a significant niche in the financial technology landscape. The company specializes in providing modern card-issuing and payment solutions powered by an open API platform. Marqeta's technology empowers businesses to create configurable and scalable payment experiences tailored to their specific needs. By offering real-time data insights and analytics, businesses can track transactions and gain valuable operational intelligence. This technological prowess allows companies to issue virtual and physical cards, manage funds in real-time, and integrate with existing financial systems, thereby streamlining payment processes across various sectors like e-commerce, on-demand services, and financial services.
The revenue model of Marqeta hinges on a combination of transaction-based fees and platform services. Businesses that utilize Marqeta's platform pay per transaction, creating a steady stream of income that scales with the user base of those businesses. Additionally, Marqeta benefits from interchange fees, which are a small percentage of the transaction value that card issuers receive whenever a cardholder makes a purchase. The more transactions processed through Marqeta's system, the higher the potential earnings. Marqeta prides itself on transparency and flexibility, continually expanding its integrations and capabilities to meet the evolving demands of a rapidly digitizing payment ecosystem. As businesses increasingly move to digital-first financial operations, Marqeta's robust platform positions it strategically to capture a significant share of the burgeoning digital payments market.
Marqeta Inc., founded in 2010 by Jason Gardner, has carved out a significant niche in the financial technology landscape. The company specializes in providing modern card-issuing and payment solutions powered by an open API platform. Marqeta's technology empowers businesses to create configurable and scalable payment experiences tailored to their specific needs. By offering real-time data insights and analytics, businesses can track transactions and gain valuable operational intelligence. This technological prowess allows companies to issue virtual and physical cards, manage funds in real-time, and integrate with existing financial systems, thereby streamlining payment processes across various sectors like e-commerce, on-demand services, and financial services.
The revenue model of Marqeta hinges on a combination of transaction-based fees and platform services. Businesses that utilize Marqeta's platform pay per transaction, creating a steady stream of income that scales with the user base of those businesses. Additionally, Marqeta benefits from interchange fees, which are a small percentage of the transaction value that card issuers receive whenever a cardholder makes a purchase. The more transactions processed through Marqeta's system, the higher the potential earnings. Marqeta prides itself on transparency and flexibility, continually expanding its integrations and capabilities to meet the evolving demands of a rapidly digitizing payment ecosystem. As businesses increasingly move to digital-first financial operations, Marqeta's robust platform positions it strategically to capture a significant share of the burgeoning digital payments market.
TPV Acceleration: Total processing volume (TPV) reached $98 billion, up 33% year-over-year, marking the highest growth rate since Q1 2024 and accelerating over 3 points from last quarter.
Revenue & Profit Beat: Net revenue was $163 million, up 28% year-over-year, and gross profit reached $115 million, up 27%. Both exceeded expectations, driven by volume growth and a slightly higher take rate.
Profitability Progress: Adjusted EBITDA hit an all-time high of $30 million (19% margin), and the company is approaching GAAP net income, highlighting improved efficiency and scale.
Raised Guidance: Management raised Q4 and full-year 2025 guidance for net revenue, gross profit, and adjusted EBITDA, now expecting 22–24% net revenue growth and 17–19% gross profit growth in Q4.
TransactPay Acquisition Impact: The TransactPay deal is enabling seamless cross-Atlantic expansion and access to larger enterprise clients, driving increased customer interest and pipeline opportunities.
BNPL & Lending Momentum: Lending use cases, especially Buy Now, Pay Later and Pay Anywhere cards, showed TPV growth double the company average, and contributed significantly to overall outperformance.
International Strength: TPV in Europe grew over 100% year-over-year, outpacing the rest of the business and expected to remain a major growth engine.
Share Repurchases: Marqeta repurchased 64.6 million shares year-to-date, reducing the share count by nearly 13%.
