Filing Flows › Marqeta (MQ) › Q2 2026
Marqeta (MQ) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 4, 2026
Marqeta (MQ) reported revenue of $176M for the second quarter 2026 (Q2 2026), +17% from a year earlier and +6% from the quarter before. Operating margin was 2.1%, net earnings $7.6M (4.3% of revenue).
Marqeta, Q2 2026: revenue $176M (+17% year over year), operating margin 2.1%, net earnings $7.6M, operating cash flow $63.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $176M | +6% | +17% |
| Gross profit | $122M | +4% | +17% |
| Operating profit | $3.6M | +74% | — |
| Net earnings | $7.6M | -3% | — |
| Operating cash flow | $63.2M | — | +404% |
| Free cash flow | $63.0M | — | +416% |
What changed
Revenue was $176.0M in Q2 2026, up 17% year over year and up 6% from the previous quarter. Platform services revenue, net was the largest line at 93% of revenue. Platform services revenue, net added $20.5M year over year (up 14%), 80% of the total change.
Gross margin was 69.2%, up 0.1 points from Q2 2025. Operating profit was $3.6M, a 2.1% margin (up 8.2 points year over year). Operating expenses grew 4% against revenue growth of 17%. The fastest-growing cost line was Sales & marketing (+73%). Net earnings were $7.6M. The effective tax rate was 6.3%. Non-operating items added $4.4M, 55% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $63.2M (up 404% year over year), 835% of net earnings. Non-cash charges added back $9.7M of depreciation and amortization and $22.4M of share-based compensation. Working capital and other items added $23.6M. Capital expenditures of $211K left free cash flow of $63.0M.
Questions
What was Marqeta's revenue in the second quarter 2026?
Marqeta (MQ) reported revenue of $176M for the second quarter 2026 (Q2 2026), +17% from a year earlier and +6% from the quarter before.
Was Marqeta profitable in the second quarter 2026?
Operating profit was $3.6M (2.1% of revenue) and net earnings $7.6M.
Source: Marqeta 10-Q on SEC EDGAR.