Marqeta Tops $500B Annualized TPV Run Rate; Q4 Revenue Growth Guide Slows to 3-5%
MQ sits 20% above its 52-week low of $14.8.
Summary
Marqeta delivered Q3 2026 TPV of $126 billion, up 29% year-over-year, pushing the platform past a $500 billion annualized run rate for the first time. Net revenue rose 8% to $176 million and gross profit grew 7% to $122 million, while Adjusted EBITDA climbed 28% to $39 million — a 22% margin, the highest on record. GAAP net income of $115 million is flattered by a $107 million non-cash tax benefit from releasing deferred tax asset valuation allowances; strip that out and the operating picture is roughly $6 million of income from operations. The real story is the guidance: Q4 net revenue growth is guided to just 3-5% and gross profit growth to 5-7%, a sharp deceleration from the 8% and 7% just posted, while full-year revenue growth is pegged at 11-12%. That slowdown, likely tied to mix shift toward lower-take-rate processing-only programs, is what traders will focus on against the headline beat. New program wins — Square's credit card on the American Express network, Satispay's Italian debit launch, and the Coinbase stablecoin card expansion — extend the customer diversification story that followed the August Google Wallet for kids partnership and October Coinbase announcement. The company also repurchased $105 million of stock through the first nine months against its $150 million authorization.
At the time of this announcement, MQ was trading at $17.80 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $14.80 to $22.28. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.