Marqeta Reports 17% Revenue Growth to $175.995 Million in Q2 2026

Marqeta, Inc. reported a significant increase in its financial performance for the second quarter of 2026, with net revenue reaching $175.995 million, a 17% increase from $150.392 million in the same period of 2025. For the first half of 2026, the company generated $341.793 million in revenue, up 18% from $289.465 million year-over-year. The gross profit for the second quarter was $121.873 million, reflecting a gross margin of 69%, consistent with the previous year. The company achieved a net income of $7.567 million for the quarter, compared to a net loss of $647,000 in the prior year, marking a notable turnaround in profitability.

The company’s operational metrics also showed positive trends, with Total Processing Volume (TPV) increasing by 32% to $120.423 million in the second quarter, driven by strong performance across various sectors, particularly financial services and expense management. Marqeta's platform services revenue, which constitutes the bulk of its income, rose by 14% to $163.682 million, while other services revenue surged by 70% to $12.313 million, primarily due to increased card fulfillment activities. The growth in TPV was particularly pronounced among the company’s top five customers, which saw a 26% increase in processing volumes.

In terms of operational changes, Marqeta completed its acquisition of TransactPay in July 2025, which has contributed to its service offerings and customer base. The company has also been actively managing its expenses, with total operating expenses rising only 4% to $118.237 million in the second quarter, despite increases in technology and professional services costs. Notably, share-based compensation expenses decreased by 17%, reflecting a shift in the types of equity awards being granted.

Marqeta's balance sheet as of June 30, 2026, showed total assets of $1.392 billion, down from $1.525 billion at the end of 2025, primarily due to a reduction in cash and cash equivalents. The company reported $691.418 million in cash and cash equivalents, alongside $260.553 million in restricted cash. The total liabilities decreased to $676.669 million from $763.076 million, contributing to a stockholders' equity of $715.557 million. The company has also initiated a new share repurchase program, authorizing up to $150 million for the repurchase of its Class A common stock, indicating a commitment to returning value to shareholders.

Looking ahead, Marqeta remains optimistic about its growth trajectory, emphasizing its focus on expanding its product offerings and customer base. The company plans to leverage its strong cash position to invest in technology and infrastructure, while also navigating potential macroeconomic challenges that could impact consumer spending and transaction volumes. The management's outlook suggests a continued commitment to enhancing its platform capabilities and maintaining strong relationships with its customers and partners.