Filing Flows › Marqeta (MQ) › Q3 2026
Marqeta (MQ) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 3, 2026
Marqeta (MQ) reported revenue of $176M for the third quarter 2026 (Q3 2026), +8% from a year earlier and +0.1% from the quarter before. Operating margin was 3.6%, net earnings $115M (65.5% of revenue).
Marqeta, Q3 2026: revenue $176M (+8% year over year), operating margin 3.6%, net earnings $115M, operating cash flow $26.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $176M | +0.1% | +8% |
| Gross profit | $122M | +0.2% | +7% |
| Operating profit | $6.3M | +73% | — |
| Net earnings | $115M | 15× | — |
| Operating cash flow | $26.3M | -58% | -70% |
| Free cash flow | $26.0M | -59% | -70% |
What changed
Revenue was $176.2M in Q3 2026, up 8% year over year and roughly flat from the previous quarter. Platform services revenue, net was the largest line at 94% of revenue. Platform services revenue, net added $10.0M year over year (up 6%), 77% of the total change.
Gross margin was 69.3%, down 0.8 points from Q3 2025. Operating profit was $6.3M, a 3.6% margin (up 9.9 points year over year). Operating expenses fell 7% while revenue rose 8%. Net earnings were $115.4M. The tax line was a benefit of $104.4M on pre-tax earnings of $11.0M. Non-operating items added $4.8M, 43% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $26.3M (down 70% year over year), 23% of net earnings. Non-cash charges added back $10.2M of depreciation and amortization and $21.5M of share-based compensation. Working capital and other items used $120.8M. Capital expenditures of $322K left free cash flow of $26.0M.
Questions
What was Marqeta's revenue in the third quarter 2026?
Marqeta (MQ) reported revenue of $176M for the third quarter 2026 (Q3 2026), +8% from a year earlier and +0.1% from the quarter before.
Was Marqeta profitable in the third quarter 2026?
Operating profit was $6.3M (3.6% of revenue) and net earnings $115M.
Source: Marqeta 10-Q on SEC EDGAR.