Marqeta, Inc.

Marqeta reported a net income of $7.57 million on net revenue of $176.0 million for Q2 2026, marking a significant improvement from a net loss in the prior year. The company also completed a one-for-four reverse stock split effective June 30, 2026, and settled a securities class action lawsuit for $13.0 million, largely covered by insurance.

Marqeta reported strong second-quarter 2026 financial results, with Net Revenue increasing 17% year-over-year to $176 million and Gross Profit also rising 17% to $122 million. The company achieved GAAP Net Income of $8 million and Adjusted EBITDA of $37 million, up 31%. Additionally, the Board approved a new share repurchase program authorizing up to $150 million of Class A common stock, following the completion of a previous program. Najuma Atkinson also resigned from the Board of Directors, a departure stated as not due to any disagreement.

Marqeta, Inc. stockholders approved a 1-for-4 reverse stock split at the Annual Meeting held on June 10, 2026, which the company expects to effect by June 30, 2026. Additionally, stockholders elected four Class II director nominees, ratified KPMG LLP as the independent auditor, and approved an amendment for officer exculpation. The compensation paid to named executive officers was also approved on a non-binding advisory basis.

Marqeta, Inc. announced the appointment of Lukasz Strozek as Chief Technology Officer, effective May 18, 2026. Mr. Strozek will lead the technology and engineering organization, bringing 20 years of experience from companies like LendingClub Corp. and Hippo Insurance. His compensation package includes an annual base salary of $475,000, an annual bonus target of 75% of base salary, and a $100,000 sign-on bonus. He will also receive equity grants totaling $9.5 million in RSUs and PSUs.

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.

Marqeta, Inc. reported its first quarter 2026 financial results, achieving GAAP Net Income profitability for the first time with $8 million in net income. The company demonstrated strong growth, with Total Processing Volume increasing by 33% and both Net Revenue and Gross Profit growing by 19% year-over-year. Marqeta also highlighted significant business momentum through customer expansions with Ramp and Sezzle, and new product launches, while providing positive financial guidance for the second quarter and full year 2026.