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Qualys vs Marqeta: QLYS and MQ compared
Qualys is the larger company: $182M of revenue in its latest quarter (Q2 2026) against $176M for Marqeta (Q3 2026). Qualys is growing faster (+11% against +8% a year earlier). Qualys is more profitable, with an operating margin of 34.0% against 3.6%.
Where the money goes: QLYS and MQ
Qualys (QLYS) · Q2 2026
Qualys, Q2 2026: revenue $182M (+11% year over year), operating margin 34.0%, net earnings $52.4M, operating cash flow $59.6M. The chart follows the revenue to costs, profit and cash.
Marqeta (MQ) · Q3 2026
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.
| Qualys (QLYS) | Marqeta (MQ) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $182M | $176M |
| Revenue growth, Y/Y | +11% | +8% |
| Gross margin | 83.4% | 69.3% |
| Operating margin | 34.0% | 3.6% |
| Net earnings | $52.4M | $115M |
| Net margin | 28.8% | 65.5% |
| Operating cash flow | $59.6M | $26.3M |
| Free cash flow | $55.9M | $26.0M |
| Market value | $6.9B | — |
| P/E | 33.4× | — |
| Analysts’ mean target | $187.59 | — |
Where the revenue comes from
Marqeta
- Platform services revenue, net: $166M (94%)
- Other services revenue: $10.4M (6%)
Questions
Which is bigger, Qualys or Marqeta?
Qualys is the larger company: $182M of revenue in its latest quarter (Q2 2026) against $176M for Marqeta (Q3 2026).
Is Qualys or Marqeta growing faster?
Qualys is growing faster (+11% against +8% a year earlier).
Which is more profitable, Qualys or Marqeta?
Qualys is more profitable, with an operating margin of 34.0% against 3.6%.
More: Qualys earnings · how Qualys makes money · Marqeta earnings · how Marqeta makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 4, 2026; 10-Q filed Nov 3, 2026). Fiscal quarters can end on different dates. Not investment advice.