Filing Flows › Marqeta (MQ) › How it makes money
How Marqeta (MQ) makes money
Marqeta (MQ) made $176M of revenue in the third quarter 2026 (Q3 2026), +8% from a year earlier. Platform services revenue, net brought in $166M (94%); Other services revenue brought in $10.4M (6%). Of every dollar of revenue, 69¢ was left as gross profit, 4¢ was left as operating profit, 66¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Platform services revenue, net | $166M | 94.1% | +1% | +6% |
| Other services revenue | $10.4M | 5.9% | -15% | +39% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $176M | 100.0% |
| Cost of revenue | $54.1M | 30.7% |
| Gross profit | $122M | 69.3% |
| Operating expenses | $116M | 65.7% |
| Operating profit | $6.3M | 3.6% |
| Net earnings | $115M | 65.5% |
| Operating cash flow | $26.3M | 15.0% |
| Free cash flow | $26.0M | 14.8% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $176M | +8% |
| Q2 2026 | $176M | +17% |
| Q1 2026 | $166M | +19% |
| Q4 2025 | $172M | +27% |
| Q3 2025 | $163M | +28% |
| Q2 2025 | $150M | +20% |
| Q1 2025 | $139M | +18% |
From Marqeta's 10-Q filed Nov 3, 2026 (on EDGAR).
Questions
How does Marqeta make money?
Marqeta (MQ) made $176M of revenue in the third quarter 2026 (Q3 2026), +8% from a year earlier. Platform services revenue, net brought in $166M (94%); Other services revenue brought in $10.4M (6%). Of every dollar of revenue, 69¢ was left as gross profit, 4¢ was left as operating profit, 66¢ was left as net earnings.
What is Marqeta's biggest business?
Platform services revenue, net: $166M in the third quarter 2026, 94% of revenue, +6% from a year earlier.
What is Marqeta's profit margin?
Net earnings were $115M, 65.5% of revenue, in the third quarter 2026; the operating margin was 3.6%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.