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Marblegate Capital (MGTE) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · Marblegate Capital (MGTE) Q2 2026 earnings results →
Q2 2026 Revenue down 6% year over year to $16.7M · 29¢ of every $1 of revenue lost · operating margin -25.8%
Marblegate Capital made $16.7M in Q2 2026 (-6% Y/Y). Operating margin -25.8%, net loss $4.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $16.7M in Q2 2026, down 6% year over year and up 18% from the previous quarter.
Operating costs exceeded revenue by $4.3M, an operating margin of -25.8%. Total costs grew 48% against a revenue fall of 6%. The fastest-growing cost line was Other operating costs (+64%). The quarter ended with a net loss of $4.8M, wider than the previous quarter's $1.5M loss. Minority interests bore $512K of it: to shareholders the quarter was a loss of $4.3M.
Operating cash flow was −$5.2M. Non-cash charges added back $2.3M of depreciation. Working capital and other items used $2.7M. Capital expenditures of $42K exceeded it, leaving free cash flow of −$5.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $16.7M | -6% | -25.8% | −$4.8M | −$5.2M |
| Q1 2026 | 10-Q | May 14, 2026 | $14.1M | +208% | -24.6% | −$1.5M | −$6.8M |
| Q4 2025 | 10-K | Mar 26, 2026 | $14.2M | +184% | -4.3% | $8.3M | $2.3M |
| Q3 2025 | 10-Q | Nov 13, 2025 | $12.0M | +120% | -10.4% | −$1.3M | $1.7M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $17.8M | +246% | 20.0% | −$47.3M | −$2.9M |
| Q1 2025 | 10-Q | May 15, 2025 | $4.6M | — | -2.0% | −$3.7M | $0 |
| Q4 2024 | 10-K | Apr 7, 2025 | $5.0M | — | 21.8% | −$4.2M | $400K |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
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About Marblegate Capital
We are a Delaware corporation, formed by MAC on February 2, 2023 (inception). We were formed to be the surviving company in connection with the Business Combination among MAC, MAM, DePalma I, and DePalma II. We have no prior operating activities. MAC was formed on December 10, 2020 as a blank check company formed under the laws of the State of Delaware for the purpose of effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses. MAC completed an initial public offering (the “ IPO ”) on October 5, 2021, following which the management of MAC commenced an active search for businesses or assets to acquire for the purpose of consummating an initial business combination with a high-quality business that had recently undergone a restructuring.
In its own words, from its 10-K, filed Apr 7, 2025.
Marblegate Capital against its Finance Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -6% against the peers' median +17%. Operating margin: -25.8% against the peers' median 5.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MGTE Marblegate Capital | Q2 2026 | $16.7M | -6% | -25.8% |
| AXP American Express | Q3 2026 | $20.1B | +9% | 22.6% |
| BTGO Bitgo Holdings | Q2 FY27 | $4.3B | +80% | -0.4% |
| General Motors Financial Company | Q3 2026 | $4.3B | -0.6% | 15.3% |
| SOFI SoFi Technologies | Q3 2026 | $1.4B | +44% | 22.9% |
| COIN Coinbase Global | Q3 2026 | $1.2B | -35% | 5.1% |
| CRCL Circle Internet Group | Q3 2026 | $865M | +17% | 24.1% |
| CHYM Chime Financial | Q3 2026 | $718M | +32% | 4.8% |
| GDOT Green DOT | Q2 2026 | $596M | +18% | -0.1% |
Source: Marblegate Capital 10-Q on SEC EDGAR · CIK 1965052 · Finance Services
More on MGTE
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results