EarningsQ2 2026 Earnings Report
MX:MQ Q2 2026 EPS Results
Actual EPS$1.28
Consensus EPS$0.18
Beat/MissBeat by +$1.10
One Year Ago EPS$0.00
MX:MQ Q2 2026 Revenue Results
Actual Revenue$3.22B
Expected Revenue$3.17B
Beat/MissBeat by +$49.83M
YoY Revenue Growth+17.02%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeAfter Close
Conference CallTuesday, August 4, 2026
MX:MQ Upcoming Earnings
Marqeta's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:MQ Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a largely positive operational and financial picture: continued strong TPV growth (+32% YoY), expanding international mix (+40% YoY outside the U.S.), product innovation (stablecoin cards, multi-rail money movement, enhanced fraud), larger enterprise deal sizes (+90% average deal size), improved margins (adjusted EBITDA +31%) and consecutive GAAP profitability (~$8M). Offsetting these positives are near-term headwinds: a planned step-down in second-half growth, Cash App new issuance diversification (initial ~10% decline in new issuance), BNPL single-use virtual card load balancing, a small decline in take rate, and renewal/lapping effects that reduce near-term growth. Overall, the company demonstrates solid underlying momentum and profitability, but near-term growth moderation and customer-specific dynamics introduce caution for the second half and potentially early 2027.Company Guidance
TPV Growth and Scale
Total Payment Volume (TPV) reached $120 billion, up 32% year-over-year — the fourth consecutive quarter with growth above 30%, and the third consecutive quarter with TPV above $100 billion.
Revenue and Gross Profit Growth
Net revenue was $176 million, growing 17% year-over-year. Gross profit was $122 million, up 17% year-over-year and above the high end of expectations.
Strong Profitability and Margin Expansion
Adjusted EBITDA was $37 million, up 31% year-over-year, representing a 21% margin on net revenue and 31% on gross profit. GAAP net income was approximately $8 million — the second consecutive quarter of GAAP profitability — and GAAP EPS was $0.07.
Enterprise Momentum and Larger Deal Sizes
Average deal size in Q2 was up over 90% year-over-year, driven by expansion into larger enterprise and embedded finance customers, including additional programs with Fortune 500 customers and migrations from competitors.
International Expansion Milestone
Volume outside the U.S. grew over 40% year-over-year and now represents 20% of total TPV. Strategic moves include the TransactPay acquisition and a Banking Circle partnership to expand European bank, account, and money movement capabilities into ~30 additional countries.
Product and Payments Innovation
New product initiatives include stablecoin-backed card solutions via partnerships with zerohash and BVNK and participation in Open USD; expansion of money-movement rails beyond card (ACH, RTP, push-to-card, wires); and an enhanced fraud real-time decisioning product that delivered over 80% gross profit growth in H1 through partnerships with Adyen, Riskified, and Signifyd.
High-Growth Use Cases
Key verticals showed strong growth: lending (including BNPL) grew over 40% year-over-year; expense management TPV grew over 50% year-over-year; on-demand delivery remained double-digit growth.
Capital Allocation and Cash Position
Active share repurchases (3.2 million shares in Q2 at an average post-split price of $15.90) and Board approval of an additional $150 million repurchase authorization. Ended the quarter with $700 million in cash and short-term investments.
MX:MQ Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed