Filing Flows › Marblegate Capital (MGTE) › Q1 2026
Marblegate Capital (MGTE) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
Marblegate Capital (MGTE) reported revenue of $14.1M for the first quarter 2026 (Q1 2026), +208% from a year earlier and -0.7% from the quarter before. Operating margin was -24.6%, net loss $1.5M (10.5% of revenue).
Marblegate Capital, Q1 2026: revenue $14.1M (+208% year over year), operating margin -24.6%, net loss $1.5M, operating cash flow −$6.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $14.1M | -0.7% | +208% |
| Operating profit | −$3.5M | — | — |
| Net earnings | −$1.5M | -118% | — |
| Operating cash flow | −$6.8M | -394% | — |
What changed
Revenue was $14.1M in Q1 2026, up 208% year over year and down 1% from the previous quarter.
Operating costs exceeded revenue by $3.5M, an operating margin of -24.6%. Total costs grew 221% against revenue growth of 208%. The fastest-growing cost line was General & admin (+2316%). The quarter ended with a net loss of $1.5M, after a profit of $8.3M the previous quarter. Minority interests bore $320K of it: to shareholders the quarter was a loss of $1.2M. Net interest and other expense of $925K was the main reason.
Operating cash flow was −$6.8M. Non-cash charges added back $1.6M of depreciation. Working capital and other items used $6.9M. Capital expenditures of $61K exceeded it, leaving free cash flow of −$6.9M.
Questions
What was Marblegate Capital's revenue in the first quarter 2026?
Marblegate Capital (MGTE) reported revenue of $14.1M for the first quarter 2026 (Q1 2026), +208% from a year earlier and -0.7% from the quarter before.
Was Marblegate Capital profitable in the first quarter 2026?
Operating loss was $3.5M (-24.6% of revenue) and net loss $1.5M.
Source: Marblegate Capital 10-Q on SEC EDGAR.