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Marqeta MQ Business Segments — Costs of revenue

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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:CostOfRevenue.

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 business segments — costs of revenue?
Marqeta (MQ) reported business segments — costs of revenue of $48.21M in Q1 2026.
How has Marqeta's business segments — costs of revenue changed year-over-year?
Marqeta's business segments — costs of revenue increased by 19.3% year-over-year, from $40.39M to $48.21M.
What is the long-term trend for Marqeta's business segments — costs of revenue?
Over 3 years (2022 to 2025), Marqeta's business segments — costs of revenue has grown at a -24.0% compound annual growth rate (CAGR), from $428.21M to $187.61M.
What does business segments — costs of revenue mean?
Includes the direct costs associated with providing the card-issuing platform services, such as network fees, processing costs, and third-party infrastructure expenses. Monitoring this helps evaluate the direct cost efficiency of the segment's service delivery model.