The earnings call reflects a positive outlook with significant growth in key areas such as total processing volume, adjusted EBITDA, and European expansion. The company is making progress towards profitability and is enhancing its service offerings. However, there are challenges such as dependence on major customers and regulatory hurdles. Overall, the company is on a solid trajectory for growth.

Company Guidance

During Marqeta's Second Quarter 2025 Earnings Conference Call, the company reported a 29% year-over-year increase in total processing volume (TPV) to $91 billion and a 20% rise in net revenue to $150 million. Gross profit grew by 31% to $104 million, resulting in a gross margin of 69%, while adjusted EBITDA reached a record $29 million, reflecting a 19% margin. The company highlighted strong performance in its Buy Now, Pay Later (BNPL) offerings, which significantly contributed to TPV growth alongside other financial services and expense management use cases. Marqeta also emphasized continued momentum in Europe, where TPV more than doubled, and discussed the strategic acquisition of TransactPay. The acquisition is expected to enhance Marqeta's program management capabilities across Europe, fostering deeper customer engagement and supporting larger clients. Despite some delayed investments impacting operating expenses, the company raised its full-year 2025 expectations, projecting net revenue growth between 17% and 18% and gross profit growth between 18% and 19%. The focus on expanding value-added services and leveraging new capabilities like Visa Flexible Credentials was also noted as key areas of future growth.

Significant Growth in Total Processing Volume

Total processing volume (TPV) reached $91 billion in Q2, representing a 29% increase compared to the same quarter in 2024.

Record High Adjusted EBITDA

Achieved an all-time high adjusted EBITDA of $29 million, translating into a 19% margin, showcasing significant progress towards profitability.

Expansion in Europe

European TPV continues to grow over 100% year-over-year, with successful expansion into new markets and the acquisition of TransactPay.

Strong Buy Now, Pay Later (BNPL) Performance

Continued leadership in BNPL solutions, with successful launches and expansions, including support for Klarna's launch of the KlarnaOne Card.

Increased Value-Added Services

Value-added services gross profit more than doubled year-over-year, driven by products like real-time decisioning and enhanced customer service offerings.

Share Repurchase Program

Repurchased 35.2 million shares in Q2, with a total of 61.5 million shares repurchased this year, representing a 12% reduction in outstanding shares.

Marqeta (MQ) Earnings, Revenues Date & History

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MQ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	-0.02 / -	-0.06	―	―	―
Aug 06, 2025	2025 (Q2)	-0.03 / 0.00	0.23	―
May 07, 2025	2025 (Q1)	-0.04 / -0.02	-0.07	71.43% (+0.05)
Feb 26, 2025	2024 (Q4)	-0.05 / -0.05	-0.08	37.50% (+0.03)
Nov 04, 2024	2024 (Q3)	-0.05 / -0.06	-0.1	40.00% (+0.04)
Aug 07, 2024	2024 (Q2)	0.21 / 0.23	-0.11	309.09% (+0.34)
May 07, 2024	2024 (Q1)	-0.08 / -0.07	-0.13	46.15% (+0.06)
Feb 28, 2024	2023 (Q4)	-0.08 / -0.08	-0.05	-60.00% (-0.03)
Nov 07, 2023	2023 (Q3)	-0.10 / -0.10	-0.1	0.00% (0.00)
Aug 08, 2023	2023 (Q2)	-0.10 / -0.11	-0.08	-37.50% (-0.03)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MQ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 06, 2025	$5.68	$6.83	+20.25%
May 07, 2025	$4.09	$4.49	+9.78%
Feb 26, 2025	$3.51	$4.25	+21.08%
Nov 04, 2024	$5.95	$3.42	-42.52%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.