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Marqeta cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$26.0M in Q3 2026 · $138M over twelve months

Operating cash flow$26.3M
Capital spending−$322K
Free cash flow+$26.0M
Cash / net income0.2×

Analysis

In Q3 2026, Marqeta generated $26.3M of operating cash flow and spent $322K on capital projects, leaving free cash flow of $26.0M. That is $60.4M less than in Q3 2025 ($86.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $139M; the largest uses were buybacks ($202M), taxes on employees’ shares ($32.1M), capital spending ($1.7M); besides operations, cash came from other investing ($50.8M), other financing ($28.4M); the cash balance fell by $17.7M.

Operating cash flow was $26.3M against net income of $115M — 0.2× profit, less cash than reported earnings, worth checking against working capital. The largest differences: stock-based pay +$21.5M, depreciation & amortization +$10.2M, receivables +$10.0M.

Free cash flow

Marqeta: free cash flow by quarterMarqeta: free cash flow by quarter$24.7MQ4 2024$8.7MQ1 2025$12.2MQ2 2025$86.4MQ3 2025$53.5MQ4 2025−$4.6MQ1 2026$63.0MQ2 2026$26.0MQ3 2026
Operating cash flow less capital spending.
Marqeta: operating cash flow against capital spendingMarqeta: operating cash flow against capital spendingOperating cash flowCapital spending$24.8M$36KQ4 2024$10.0M$1.3MQ1 2025$12.5M$335KQ2 2025$86.8M$391KQ3 2025$53.3M−$157KQ4 2025−$3.4M$1.3MQ1 2026$63.2M$211KQ2 2026$26.3M$322KQ3 2026
Latest (Q3 2026): Operating cash flow $26.3M, Capital spending $322K.

Capital allocation, year by year

Marqeta: where the cash came from (up) and went (down), by fiscal yearMarqeta: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $57.0MFY2021: Shares issued $1.3BFY2021: Capital spending −$2.7M$1.4BFY2021FY2022: Operating cash flow −$13.0MFY2022: Shares issued $9.2MFY2022: Capital spending −$2.3MFY2022: Buybacks −$78.1M$9.2MFY2022FY2023: Operating cash flow $21.1MFY2023: Shares issued $5.3MFY2023: Capital spending −$762KFY2023: Acquisitions −$136MFY2023: Buybacks −$190M$26.4MFY2023FY2024: Operating cash flow $58.2MFY2024: Shares issued $203KFY2024: Capital spending −$2.4MFY2024: Buybacks −$154M$58.4MFY2024FY2025: Operating cash flow $163MFY2025: Shares issued $1.7MFY2025: Capital spending −$1.8MFY2025: Acquisitions −$45.7MFY2025: Buybacks −$391M$164MFY2025
Over these 5 years operating cash flow totalled $286M; the largest uses were buybacks ($814M) and acquisitions ($181M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$698M
Debtnone
Net cash$698M

Marqeta funds itself: free cash flow was $138M over the last twelve months, with $698M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Marqeta: sources (+) and uses (−) of cash, Q3 2026Marqeta: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$26.3MBuybacks−$11.2MCash drawn (+) / kept (−)−$10.9MTaxes on employees’ shares−$6.9MOther financing$2.8MOther investing$328KCapital spending−$322KShares issued−$1K
Marqeta: sources (+) and uses (−) of cash, TTM to Q3 2026Marqeta: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$202MOperating cash flow$139MOther investing$50.8MTaxes on employees’ shares−$32.1MOther financing$28.4MCash drawn (+) / kept (−)$17.7MCapital spending−$1.7MAcquisitions−$1.1MShares issued$84K

From profit to cash

Marqeta: net income to operating cash flow, Q3 2026Marqeta: net income to operating cash flow, Q3 2026Net income$115MDepreciation & amortization$10.2MStock-based pay$21.5MOther non-cash$772KReceivables$10.0MPayables$750KAccrued liabilities−$8.9MPrepaid and other assets$8.2MOperating cash flow$26.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$26.3M−$322K—−$11.2M−$1K−$10.9M$26.0M
Q2 2026$63.2M−$211K—−$54.7M$1K$2.0M$63.0M
Q1 2026−$3.4M−$1.3M—−$39.2M$51K$61.8M−$4.6M
Q4 2025$53.3M$157K−$1.1M−$96.6M$33K−$35.3M$53.5M
Q3 2025$86.8M−$391K—−$19.6M$50K−$241M$86.4M
Q2 2025$12.5M−$335K—−$164M$136K$98.2M$12.2M
Q1 2025$10.0M−$1.3M—−$111M$1.4M$92.1M$8.7M
Q4 2024$24.8M−$36K—−$16.7M$82K−$36.6M$24.7M

Marqeta: income statement and cash flow

Marqeta, Q3 2026: revenue $176M (+8% year over year), operating margin 3.6%. The chart follows the revenue to costs, profit and cash.

Marqeta: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.