What does Marqeta do and what are its main business segments?

What is Marqeta's latest dividend and current dividend yield?

What is Marqeta's gross profit margin?

What guidance did Marqeta's management provide for the next earnings period?

What is the market's earnings forecast for Marqeta next quarter?

What factors drove the changes in Marqeta's revenue and profit?

What were the key takeaways from Marqeta's earnings call?

What were the key takeaways from Marqeta’s earnings call?

- **Record Financials**: Q3 2025 TPV ($98B, +33% YoY), net revenue ($163M, +28% YoY), and adjusted EBITDA ($30M, 19% margin) reflect strong execution and scale. 
- **Europe Dominance**: European TPV growth >100% YoY, driven by TransactPay acquisition and 15 new markets with Klarna. 
- **Strategic Wins**: Cross River Bank partnership, Pay Anywhere card adoption, and 2024+ cohorts contributing $40M+ in 2025 revenue. 
- **Risk Management**: Q4 gross profit growth expected to slow (-2 points) due to renewals and accounting changes, but 2025 EBITDA guidance raised to $100M+.

**【CEO/CFO Opening Remarks】**
- Q3 2025 highlights: TPV of $98 billion (+33% YoY), net revenue $163 million (+28% YoY), gross profit $115 million (+27% YoY), adjusted EBITDA $30 million (19% margin). 
- Accelerating growth driven by lending (Buy Now, Pay Later) and on-demand delivery, with TPV growth rates exceeding 100% in Europe. 
- Strategic initiatives: acquisition of TransactPay to expand European capabilities, partnerships with Cross River Bank and Coastal Community Bank, and expansion into 15 new markets with Klarna. 

**【Financial Results Summary】**
- **Revenue Performance**: Net revenue growth of 28% YoY, with 2.5 points contributed by TransactPay. Gross profit growth of 27% YoY, outperforming expectations due to higher take rates and unusual recoveries. 
- **Profitability**: Adjusted EBITDA margin of 19%, up from 17% in Q2, driven by expense discipline and scale benefits. GAAP net loss of $3.6 million due to one-time litigation expense. 
- **Liquidity**: $830 million in cash, with $88 million remaining on buyback authorization. 

**【Strategic Initiatives and Expansion】**
- **Europe Expansion**: TransactPay enables seamless program management and EMI licensing, with TPV growth >100% YoY. New programs with top 5 expense management customers and a Fortune 500 SMB payments platform. 
- **Bank Partnerships**: Onboarding Cross River Bank (Q4 2025) and Coastal Community Bank (2026), reducing integration time by 50% via a business integration platform. 
- **Innovation**: Pay Anywhere cards and Visa flexible credentials drive BNPL adoption, with Klarna expanding into 15 new markets. 

**【Q&A Highlights】**
- **Pipeline Strength**: New programs from existing customers (e.g., Klarna's 15-market expansion) and 2024+ cohorts expected to contribute $40 million in 2025 revenue. 
- **Renewal Impact**: One large customer renewal in Q4 (-2% gross profit growth), second in Q1 2026. 
- **Europe Sustainability**: TPV growth >100% YoY, with potential reacceleration as TransactPay integrates. 
- **Value-Added Services**: Tokenization, risk products, and white-label apps growing quickly, targeting embedded finance opportunities.

Marqeta, Inc. (MQ) Q3 2025 Earnings Call Transcript

Platform Services

Other Services

MQ

MQ fundamentals

You can ask Aime