Marqeta Reports Q3 2026 Results with Record Processing Volume and Increased EBITDA Guidance
Marqeta (MQ) reported strong third-quarter financial results, highlighted by Total Processing Volume (TPV) reaching $126 billion—a 29% year-over-year increase. This milestone pushed the company's annualized run rate above $500 billion for the first time. Net revenue rose 8% to $176 million, while Adjusted EBITDA grew 28% to $39 million, achieving a record margin of 32% as a percentage of gross profit due to disciplined expense management. The company's transition to GAAP profitability was significantly bolstered by a $107 million noncash income tax benefit from the release of tax valuation allowances. While revenue growth faced some headwinds from unfavorable program mix and contract renewals, Marqeta successfully diversified its client base; Non-Block TPV grew more than twice as fast as Block TPV. Management raised full-year Adjusted EBITDA guidance to the low-to-mid 30% range.
Topics: Adjusted EBITDA BNPL growth GAAP Net Income Net Revenue Total Processing Volume