Quarterly ResultMay 5, 2026, 04:57 PM
Marqeta Q1 Net Income $7.8M, Revenue +19.2%
AI Summary
Marqeta, Inc. reported a significant financial turnaround for the first quarter of 2026, achieving a net income of $7.8 million, a substantial improvement from a net loss in the prior year. This was driven by a 19.2% increase in net revenue to $165.8 million and a reduction in operating expenses. The company also disclosed a $13.0 million settlement liability for securities class actions, largely covered by insurance, and continued its share repurchase program.
Key Highlights
- Net income for Q1 2026 was $7.8 million, a significant improvement from a net loss of $8.3 million in Q1 2025.
- Net revenue increased by 19.2% to $165.8 million for Q1 2026, up from $139.1 million in Q1 2025.
- Gross profit rose to $117.6 million in Q1 2026 compared to $98.7 million in Q1 2025.
- Operating expenses decreased to $115.5 million in Q1 2026 from $117.2 million in Q1 2025.
- The company recorded a $13.0 million settlement liability for securities class actions, with $9.4 million expected insurance recovery.
- Cash and cash equivalents stood at $674.8 million as of March 31, 2026.
- Total stockholders' equity was $742.3 million as of March 31, 2026.
- The company has an authorized share repurchase program of up to $200 million.
Price Impact
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