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Marqeta MQ Platform services revenue, net — Net revenue

Other product segments

Other services revenue
$9.57M+32.8%

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Other financials

Income statement

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Revenue$165.8M+19.2%
Gross profit$117.6M+19.2%
Operating income$2.1M+111%
Net income$7.8M+195%
EPS (diluted)$0.02+200%

Balance sheet

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Cash & equivalents$956.1M+13.9%
Total debt$7.4M+67.7%
Total equity$742.3M-24.8%
Total assets$1.5B+9.4%

Cash flow

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Operating cash flow-$3.4M-134%
CapEx$1.3M+1.0%
Free cash flow-$4.6M-153%

Valuation

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Market cap$1.62B-16.1%
Enterprise value$675.32M-36.1%
P/E748.8×
P/S2.5×-1.2×

Profitability

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Gross margin70%+0.6pp
Operating margin-4%-5.3pp
Net margin0.3%
FCF margin22.6%+10.3pp

Returns & leverage

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Return on equity0.3%
Debt / equity0.0×
Current ratio1.6×-1.5×

Where this comes from

Reported directly by Marqeta in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Marqeta’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Marqeta's platform services revenue, net — net revenue?
Marqeta (MQ) reported platform services revenue, net — net revenue of $156.23M in Q1 2026.
How has Marqeta's platform services revenue, net — net revenue changed year-over-year?
Marqeta's platform services revenue, net — net revenue increased by 18.5% year-over-year, from $131.87M to $156.23M.
What is the long-term trend for Marqeta's platform services revenue, net — net revenue?
Over 4 years (2021 to 2025), Marqeta's platform services revenue, net — net revenue has grown at a 4.3% compound annual growth rate (CAGR), from $502.3M to $594.14M.
What does platform services revenue, net — net revenue mean?
This metric represents the net revenue generated from the core card-issuing and payment processing platform services provided to clients. It captures the income derived from transaction-based fees and platform access charges, excluding any pass-through costs or adjustments. This segment serves as a primary indicator of the company's ability to monetize its underlying infrastructure and API-driven payment technology.