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Integration unlocks global stablecoin balances into everyday card spending experiences July 22, 2026 07:00 ET  | Source: Zero Hash Holdings LLC

CHICAGO, July 22, 2026 (GLOBE NEWSWIRE) -- zerohash, a leading infrastructure platform powering crypto, stablecoin, and tokenized asset capabilities for financial institutions, and Marqeta, Inc. (NASDAQ: MQ), the modern card issuing platform, today announced they will collaborate to integrate zerohash’s stablecoin infrastructure into Marqeta’s flexible card issuing capabilities. The partnership will enable Marqeta customers to embed stablecoin payments directly into new and existing financial products without rebuilding core systems or taking on new regulatory burden.

The collaboration comes as stablecoin adoption accelerates across financial services. In February 2026 alone, stablecoin monthly transaction volume hit $7.2 trillion, surpassing the U.S. ACH network ($6.8 trillion) for the first time in history. On zerohash’s platform specifically, transaction volume grew 690% year-over-year in 2025, while transaction frequency was up 208%, underscoring significant growth as stablecoins become embedded in financial workflows. zerohash today supports instant global payouts for platforms including Gusto and Worldpay, as well as real-time account funding for Interactive Brokers, Kalshi, tastytrade, and more.

Marqeta has been a trusted partner for crypto-native companies, powering debit card offerings in the U.S. and Europe that enable users to spend in fiat currency based on crypto holdings and earn rewards back in crypto. The partnership will extend Marqeta’s capabilities, allowing both crypto and non-crypto companies to take advantage of the value of stablecoins through this integration. Marqeta’s platform processed nearly $400 billion of payments volume in 2025, while enabling innovative, global payment experiences across diverse use cases.

The partnership will let users spend digital dollar balances at tens of millions of merchants globally using a standard payment card. Merchants get paid in fiat currency, just as with any other card transaction. zerohash will provide the underlying infrastructure that handles custody, compliance and liquidity for onchain money custody and movement. Concurrently, Marqeta will manage card issuance, acceptance and bank and network relationships. Together, the integration will give platforms a faster, more flexible way to create spendability for stablecoins with real-time settlement and improved capital efficiency.

“Our customers are building the next generation of financial products, and that requires new ways to manage and move money,” said Anthony Peculic, Interim Chief Product Officer at Marqeta. “By integrating with zerohash, we will be able to give our customers a full solution to deliver multinational and stablecoin-backed card programs that meet the needs of their users, while also being compliant and ready for global scale.”

“Compatibility between stablecoins and traditional payment networks is a critical unlock for users’ onchain money, while also opening new opportunities for traditional businesses through stablecoin-backed cards,” said Edward Woodford, Founder & CEO of zerohash. “zerohash’s role is to abstract the complexity behind the scenes so stablecoins can be leveraged as a seamless part of everyday payments and money movement.”

About zerohash

zerohash is a leading infrastructure provider for crypto, stablecoin, and tokenized assets. Its API and embeddable dev-kit enable innovators to easily launch solutions across cross-border payments, commerce, trading, remittance, payroll, tokenization, and on/off-ramps. The company has a global regulatory footprint across the EU, Latin America, Australia, New Zealand, Bermuda, and the U.S., and operates regulated entities in 51 U.S. jurisdictions. For more information, visit zerohash.com.

Disclosures

zerohash services and product offerings may not be available in all jurisdictions. zerohash accounts are not subject to FDIC or SIPC protections, or any such equivalent protections that may exist outside of the US. zerohash's technical support and enablement of any asset is not an endorsement of such asset and is not a recommendation to buy, sell, or hold any crypto asset. zerohash is not registered with the SEC or FINRA. zerohash llc, NMLS ID #1699379, is licensed as a money transmitter, and zerohash llc and zerohash liquidity services llc are licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. For additional information please visit www.zerohash.com/disclosures.

About Marqeta, Inc.

Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing nearly $400 billion in annual payments volume in 2025. Marqeta is certified to operate in more than 40 countries worldwide and counting. Visit www.marqeta.com to learn more.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to the planned partnership between zerohash and Marqeta, including the responsibilities of each party and of third-party beneficiaries of that partnership, the benefits of that partnership for each of zerohash and Marqeta, and the benefits of that partnership for the customers of each of zerohash and Marqeta; and statements made by each of zerohash’s and Marqeta’s senior leadership. In some cases, these forward-looking statements can be identified by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to: any factors creating issues with changes in domestic and international business, market, financial, political and legal conditions; and those risks and uncertainties included in the “Risk Factors” disclosed in Marqeta's Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s quarterly and periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.

Contact: [email protected]

Contact: [email protected]

OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta, Inc. (NASDAQ: MQ), the modern card issuing platform, today announced the expansion of its collaboration with Expensify, a leading spend management software platform, into the UK and EU. Expensify has leveraged Marqeta's comprehensive platform and multinational card issuing capabilities to deliver its corporate card offering to businesses across Europe, addressing significant demand for modern and automated expense solutions in the region. “Businesses a.

Marqeta, Inc. (NASDAQ: MQ), the modern card issuing platform, today announced that it will host a conference call and webcast to discuss second quarter 2026 fi

Here's some news for those who are or might like to be invested in fintech (financial technology) company Marqeta (MQ 2.06%): It's planning a reverse stock split. These are often undertaken by struggling companies, so investors should examine the situation carefully.

The company held its last annual meeting on June 10, and among other things, proposed a 1-for-4 reverse stock split.

Image source: Getty Images.

A regular stock split increases the number of shares shareholders own, while proportionately shrinking the stock price. So before a 2-for-1 split, you might own 100 shares trading at $20 each, for a total value of $2,000. Post-split, you'd own 200 shares trading for around $10 each, for a total value of... $2,000. See? It's a nothingburger.

Today's Change

(

-2.06

%) $

-0.08

Current Price

$

3.80

Reverse splits, though, reduce the number of shares while boosting the stock price. For example, Marqeta was recently trading for roughly $4 per share. If it splits 1-4, someone owning 100 shares will end up with a quarter of that -- 25 shares. If their 100 shares at $4 per share were worth $400 pre-split, they'll be 25 shares at around $16 per share (four times $4), totaling... $400.

Again, not much changed. So why do a reverse split? The company says, "The primary purpose for implementing the Reverse Stock Split is to reduce the number of outstanding shares of our Common Stock."

I think the main result of the split is more likely the main reason for it: a higher stock price that moves Marqeta out of penny-stock territory.

Should you buy into Marqeta before or after the split? Well, ignore the split and base your decision on your views of its growth prospects. Its shares have largely fallen over the past few years, making them more attractively priced than before. But it only recently turned profitable.

This is not a low-risk stock -- so proceed accordingly and maybe hold off until there's no way it would need a reverse split.

Posted by Defense World Staff on Apr 11th, 2026

Donor Advised Charitable Giving Inc. purchased a new position in shares of Marqeta, Inc. (NASDAQ:MQ – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 264,729 shares of the company’s stock, valued at approximately $1,257,000. Marqeta comprises about 0.0% of Donor Advised Charitable Giving Inc.’s holdings, making the stock its 17th largest holding. Donor Advised Charitable Giving Inc. owned 0.06% of Marqeta at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MQ. Quarry LP bought a new stake in shares of Marqeta during the third quarter worth approximately $26,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Marqeta during the third quarter worth approximately $55,000. AQR Capital Management LLC bought a new stake in Marqeta in the first quarter valued at about $57,000. Campbell & CO Investment Adviser LLC acquired a new position in Marqeta in the third quarter valued at about $60,000. Finally, Prelude Capital Management LLC acquired a new position in Marqeta in the third quarter valued at about $62,000. 78.64% of the stock is owned by institutional investors.

Analyst Ratings Changes Several equities analysts have weighed in on the company. JPMorgan Chase & Co. assumed coverage on Marqeta in a research note on Tuesday, February 17th. They issued an “overweight” rating and a $6.00 target price on the stock. Mizuho reissued a “neutral” rating and issued a $4.50 target price (down from $8.00) on shares of Marqeta in a research note on Thursday, January 8th. Wolfe Research lowered Marqeta from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. Morgan Stanley lowered their target price on shares of Marqeta from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Marqeta in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $5.14.

Check Out Our Latest Report on MQ

Insider Buying and Selling at Marqeta In related news, Director Judson C. Linville purchased 25,570 shares of Marqeta stock in a transaction dated Friday, February 27th. The stock was bought at an average price of $3.93 per share, for a total transaction of $100,490.10. Following the completion of the acquisition, the director directly owned 104,220 shares of the company’s stock, valued at $409,584.60. This represents a 32.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.61% of the stock is owned by company insiders.

Marqeta Stock Down 3.3% Shares of MQ stock opened at $3.85 on Friday. Marqeta, Inc. has a 12-month low of $3.70 and a 12-month high of $7.04. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -128.33 and a beta of 1.39. The firm has a fifty day moving average of $4.05 and a 200-day moving average of $4.52.

Marqeta (NASDAQ:MQ – Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.01. Marqeta had a negative net margin of 2.23% and a negative return on equity of 1.62%. The company had revenue of $172.11 million during the quarter, compared to analyst estimates of $167.05 million. During the same quarter in the previous year, the business earned ($0.05) EPS. The firm’s revenue was up 26.7% on a year-over-year basis. Research analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Marqeta Company Profile (Free Report)

Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta’s infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.

Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.

Read More Five stocks we like better than Marqeta Want to see what other hedge funds are holding MQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marqeta, Inc. (NASDAQ:MQ – Free Report).

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New York, New York--(Newsfile Corp. - April 23, 2026) - Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Marqeta, Inc. (NASDAQ: MQ) breached their fiduciary duties to shareholders.

According to a federal securities lawsuit, Insiders at Marqeta caused the company to misrepresent or fail to disclose that: (1) Marqeta understated the regulatory challenges affecting its business outlook; (2) as a result, Marqeta would have to cut its guidance for the fourth quarter of 2024; and (3) as a result, public statements were materially false and/or misleading at relevant times.

If you currently own MQ and purchased prior to February 28, 2024 please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.

Why Your Participation Matters:

As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™

For additional information, please visit Shareholder Derivative Litigation - Kuehn Law.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts:
Kuehn Law, PLLC
Justin Kuehn, Esq.
53 Hill Street, Suite 605
Southampton, NY 11968
[email protected]
(833) 672-0814

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294054

Source: Kuehn Law, PLLC

, /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Marqeta, Inc. (NASDAQ: MQ) breached their fiduciary duties to shareholders. 

According to a federal securities lawsuit, Insiders at Marqeta caused the company to misrepresent or fail to disclose that: (1) Marqeta understated the regulatory challenges affecting its business outlook; (2) as a result, Marqeta would have to cut its guidance for the fourth quarter of 2024; and (3) as a result, public statements were materially false and/or misleading at relevant times.

If you currently own MQ and purchased prior to February 28, 2024  please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814.  Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights. 

Why Your Participation Matters:

As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™ 

For additional information, please visit Shareholder Derivative Litigation - Kuehn Law.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts:
Kuehn Law, PLLC
Justin Kuehn, Esq.
53 Hill Street, Suite 605
Southampton, NY 11968
[email protected]
(833) 672-0814

SOURCE Kuehn Law, PLLC

The global modern card issuer reported Total Processing Volume growth of 33% and Gross Profit growth of 19% in the first quarter of 2026.

OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta, Inc. (NASDAQ: MQ), the global modern card issuing platform, today reported financial results for the first quarter ended March 31, 2026.

The Company reported Total Processing Volume (TPV) of $112 billion, representing a year-over-year increase of 33%. Marqeta reported Net Revenue of $166 million and Gross Profit of $118 million, both growing 19% year-over-year. GAAP Net Income for the quarter was $8 million and Adjusted EBITDA was $33 million.

“Our first quarter results demonstrate the power of our platform at scale as we delivered on our promise of achieving GAAP Net Income profitability, a testament to our strong growth and disciplined execution,” said Mike Milotich, CEO of Marqeta. “As a modern card issuer capable of delivering a continuum of products and innovative solutions across multiple use cases and geographies, Marqeta is uniquely positioned to enable growth and engagement for our customers.”

Marqeta highlighted several recent business updates that demonstrate its current business momentum, including:

Long-standing expense management customer Ramp is utilizing Marqeta’s platform to expand its corporate solution into Australia, Japan, Singapore, Brazil and Mexico, with further geographic expansion planned for later in the year. Marqeta is enabling this rapid expansion through a single integration, allowing Ramp to issue virtual and physical cards with customized spend limits globally without the complexity of multiple localized systems. Marqeta enabled Sezzle's expansion of its offering by launching a virtual card in Canada. This expansion allows Sezzle’s Canadian consumers to access the same flexibility and smooth checkout experience available in the U.S. at any Canadian retailer accepting contactless payments. Marqeta signed a new customer that provides an automated financial assistant to help consumers manage their financial lives. This customer selected Marqeta to migrate its existing U.S. secured credit card portfolio, wanting a partner who is at the forefront of enabling innovation and could support its global expansion plans. This solution will be one of the early adopters of the issuer-managed Mastercard One Credential, allowing consumers to toggle between secured credit and installments on a single card for greater flexibility. Marqeta deepened its relationship with a rapidly growing embedded finance brand by launching a new credit builder card alongside their established debit program on Marqeta’s platform. This product is designed to help consumers establish and strengthen their credit profiles through daily spending, highlighting the option value for our customers delivering multiple products from a single platform. Operating Highlights

In thousands, except percentages and per share data, unless otherwise noted. % change is calculated over the comparable prior-year period (unaudited)

Three Months Ended March 31,

%

Change

2026

2025

Financial metrics:

Net Revenue

$

165,798

$

139,073

19%

Gross Profit

$

117,592

$

98,679

19%

Gross Margin

71

%

71

%

—%

Total Operating Expenses

$

115,498

$

117,217

(1%)

Net Income (Loss)

$

7,834

$

(8,260

)

nm

Net Income (Loss) Margin

5

%

(6

%)

11 ppts

Net Income (Loss) Per Share - Basic

$

0.02

$

(0.02

)

nm

Net Income (Loss) Per Share - Diluted

$

0.02

$

(0.02

)

nm

Key operating metric and Non-GAAP financial measures:

Total Processing Volume (TPV)

(in millions) 1

$

112,360

$

84,472

33%

Adjusted EBITDA 2

$

33,338

$

20,081

66%

Adjusted EBITDA Margin 2

20

%

14

%

6 ppts

Adjusted Operating Expenses 2

$

84,254

$

78,598

7%

1 TPV represents the total dollar amount of payments processed through our platform, net of returns and chargebacks. We believe that TPV is a key indicator of the market adoption of our platform, growth of our brand, growth of our customers' businesses and scale of our business.

2 See "Information Regarding Non-GAAP Measures" for definitions of Adjusted EBITDA, Adjusted EBITDA margin, and Adjusted operating expenses and the reconciliations of the net income (loss) to Adjusted EBITDA, and of the total operating expenses to Adjusted operating expenses.

nm - Not meaningful

First Quarter 2026 Financial Results:

Total Processing Volume increased by 33% year-over-year, from $84 billion in the first quarter of 2025 to $112 billion for the quarter ended March 31, 2026.

Net Revenue of $166 million increased by $27 million, or 19%, year-over-year, primarily driven by higher volumes, partially offset by unfavorable mix due to faster growth of card programs where we provide processing services with minimal or no program management.

Gross Profit increased by 19% year-over-year to $118 million from $99 million in the first quarter of 2025. The increase in Gross Profit was largely driven by our TPV growth, net of 1.5 percentage points of headwind due to the revised accounting policy for estimating and recognizing Card Network Incentives. Gross Margin was 71% in the first quarter of 2026.

Net Income of $8 million in the quarter, compared to a Net Loss of $8 million in the same period in the prior year, resulted in a year-over-year improvement of $16 million. Net income margin was 5% in the quarter, an increase of 11 percentage points versus last year.

Adjusted EBITDA was $33 million in the first quarter of 2026, an increase of $13 million year-over-year. Adjusted EBITDA margin was 20% in the first quarter of 2026, an increase of 6 percentage points versus last year.

Financial Guidance

The following summarizes Marqeta's guidance for the second quarter of 2026 and full year of 2026:

Second Quarter 2026

Fiscal Year 2026

Net Revenue Growth

14 - 16%

12 - 14%

Gross Profit Growth

14 - 16%

10 - 12%

Adjusted EBITDA Growth (1)

10 - 12%

Mid-to-high 20s

(1) Adjusted EBITDA Growth represents the year-over-year percentage change in Adjusted EBITDA. See "Information Regarding Non-GAAP Measures" for the definition of Adjusted EBITDA Margin and for information regarding non-availability of a forward reconciliation.

Conference Call

Marqeta will host a live conference call today at 1:30 p.m. Pacific time (4:30 p.m. Eastern time). To join the call, please dial-in 10 minutes in advance: toll-free at 1-877-407-4018 or direct at 1-201-689-8471. The conference call will also be available live via webcast online at http://investors.marqeta.com.

The telephone replay dial-in numbers are 1-844-512-2921 and 1-412-317-6671 and will be available until May 19, 2026, 8:59 p.m. Pacific time (11:59 p.m. Eastern time). The confirmation code for the replay is 13759382.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements relating to Marqeta’s quarterly and annual guidance; statements regarding Marqeta’s profitability; statements regarding Marqeta’s customers, their growth, and their plans to onboard Marqeta's offerings; statements regarding Marqeta's new product introductions and product capabilities; statements regarding Marqeta's ability to enable growth for its customers; and statements made by Marqeta’s Chief Executive Officer. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: the risk that Marqeta is unable to maintain profitability; the risk that Marqeta is unable to further attract, retain, diversify, and expand its customer base; the risk that Marqeta is unable to drive increased profitable transactions on its platform; the risk that consumers and customers will not perceive the benefits of Marqeta’s products, including credit card issuing; the risk that Marqeta's platform does not operate as intended resulting in system outages; the risk that Marqeta will not be able to achieve the cost structure that Marqeta currently expects; the risk that Marqeta’s solutions will not achieve the expected market acceptance; the risk that competition could reduce expected demand for Marqeta’s services, including credit card issuing; the risk that changes in the regulatory landscape could adversely affect Marqeta's operations and revenues; the risk that Marqeta may be unable to maintain relationships with Issuing Banks and Card Networks; the risk that Marqeta is not able to identify, close and recognize the anticipated benefits of any acquisition; the risk that Marqeta is unable to successfully integrate any acquisition, to businesses and related operations; the risk of general economic conditions in either domestic or international markets, including inflation and recessionary fears, conditions resulting from geopolitical uncertainty and instability or war; and the risk that Marqeta may be subject to additional risks due to its international business activities. Detailed information about these risks and other factors that could potentially affect Marqeta’s business, financial condition, and results of operations are included in the “Risk Factors” disclosed in Marqeta's Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent Quarterly Reports, as such risk factors may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com.

The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.

Disclosure Information

Investors and others should note that Marqeta announces material financial information to its investors using its investor relations website, SEC filings, press releases, public conference calls and webcasts. Marqeta also uses social media to communicate with its customers and the public about Marqeta, its products and services, and other matters relating to its business and market. It is possible that the information Marqeta posts on social media could be deemed to be material information. Therefore, Marqeta encourages investors, the media, and others interested in Marqeta to review the information we post on social media channels including the Marqeta X feed (@Marqeta), the Marqeta Instagram page (@lifeatmarqeta), the Marqeta Facebook page, and the Marqeta LinkedIn page. These social media channels may be updated from time to time.

Use of Non-GAAP Financial Measures

Reconciliations of non-GAAP financial measures to the most directly comparable financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. For a description of these non-GAAP financial measures, including the reasons management uses each measure, please see the section of the tables titled "Information Regarding Non-GAAP Financial Measures".

About Marqeta, Inc.

Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing nearly $400 billion in annual payments volume in 2025. Marqeta is certified to operate in more than 40 countries worldwide and counting. Visit www.marqeta.com to learn more.

Marqeta® is a registered trademark of Marqeta, Inc.

Marqeta, Inc.

Condensed Consolidated Statements of Operations

(in thousands, except per share amounts)

(unaudited)

Three Months Ended March 31,

2026

2025

Net Revenue

$

165,798

$

139,073

Costs of Revenue

48,206

40,394

Gross Profit

117,592

98,679

Operating Expenses:

Compensation and benefits

78,018

86,050

Technology

18,090

14,811

Depreciation and amortization

8,854

5,331

Professional services

4,631

5,695

Occupancy

1,179

917

Marketing and advertising

1,160

469

Other operating expenses

3,566

3,944

Total Operating Expenses

115,498

117,217

Income (Loss) from operations

2,094

(18,538

)

Other income, net

5,933

10,513

Income (Loss) before income tax expense

8,027

(8,025

)

Income tax expense

193

235

Net Income (Loss)

$

7,834

$

(8,260

)

Net income (loss) per share attributable to Class A and Class B common stockholders

Basic

$

0.02

$

(0.02

)

Diluted

$

0.02

$

(0.02

)

Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders

Basic

428,602

501,222

Diluted

433,571

501,222

Marqeta, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

  March 31,
2026

December 31,
2025

(unaudited)

Assets

Current assets:

Cash and cash equivalents

$

674,790

$

709,443

Restricted cash

280,398

307,593

Short-term investments

37,267

62,483

Accounts receivable, net

45,893

41,422

Network incentives receivable

79,869

61,059

Settlements receivable, net

32,455

18,037

Prepaid expenses and other current assets

37,746

35,278

Total current assets

1,188,418

1,235,315

Property and equipment, net

63,919

59,910

Operating lease right-of-use assets, net

7,506

8,275

Intangible assets, net

48,406

51,388

Goodwill

153,962

154,706

Other assets

14,502

15,439

Total assets

$

1,476,713

$

1,525,033

Liabilities and stockholders' equity

Current liabilities:

Accounts payable

$

789

$

1,847

Revenue share payable

260,144

224,526

Funds payable and amounts due to customers

280,298

306,891

Accrued expenses and other current liabilities

179,905

215,793

Total current liabilities

721,136

749,057

Operating lease liabilities, net of current portion

4,803

5,535

Other liabilities

8,492

8,484

Total liabilities

734,431

763,076

Stockholders' equity:

Common stock

43

43

Additional paid-in capital

1,546,548

1,572,238

Accumulated other comprehensive (loss) income

(310

)

1,509

Accumulated deficit

(803,999

)

(811,833

)

Total stockholders’ equity

742,282

761,957

Total liabilities and stockholders' equity

$

1,476,713

$

1,525,033

Marqeta, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

Three Months Ended March 31,

2026

2025

Cash flows from operating activities:

Net income (loss)

$

7,834

$

(8,260

)

Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:

Depreciation and amortization

8,854

5,331

Share-based compensation expense

20,017

25,915

Non-cash operating leases expense

769

535

Accretion of discount on short-term investments

(34

)

(396

)

Other

(671

)

364

Changes in operating assets and liabilities:

Accounts receivable

(4,631

)

1,312

Network incentives receivable

(18,810

)

1,836

Settlements receivable

(14,418

)

1,795

Prepaid expenses and other assets

(1,531

)

(2,543

)

Accounts payable

(1,058

)

1,023

Revenue share payable

35,618

16,016

Accrued expenses and other liabilities

(34,115

)

(31,837

)

Operating lease liabilities

(1,191

)

(1,104

)

Net cash (used in) provided by operating activities

(3,367

)

9,987

Cash flows from investing activities:

Maturities of short-term investments

25,134

22,186

Capitalization of internal-use software

(7,798

)

(6,059

)

Purchases of property and equipment

(1,279

)

(1,266

)

Net cash provided by investing activities

16,057

14,861

Cash flows from financing activities:

Repurchase of common stock

(39,207

)

(111,310

)

Change in funds payable and amounts due to customers

(26,593

)

—

Taxes paid related to net share settlement of restricted stock units

(8,789

)

(7,101

)

Proceeds from exercise of stock options, including early exercised stock options, net of repurchase of early exercised unvested options

51

1,444

Net cash used in financing activities

(74,538

)

(116,967

)

Net decrease in cash, cash equivalents, and restricted cash

(61,848

)

(92,119

)

Cash, cash equivalents, and restricted cash- Beginning of period

1,017,931

931,516

Cash, cash equivalents, and restricted cash - End of period

$

956,083

$

839,397

Marqeta, Inc.

Financial and Operating Highlights

(in thousands, except per share data or as noted)

(unaudited)

First Quarter 2026

Fourth Quarter 2025

Third Quarter 2025

Second Quarter 2025

First Quarter 2025

Year over Year Change Q1'26 vs Q1'25

Operating performance:

Net Revenue

$

165,798

$

172,113

$

163,306

$

150,392

$

139,073

19%

Costs of Revenue

48,206

52,138

48,749

46,331

40,394

19%

Gross Profit

117,592

119,975

114,557

104,061

98,679

19%

Gross Margin

71

%

70

%

70

%

69

%

71

%

— ppts

Operating Expenses:

Compensation and benefits

78,018

88,089

84,871

81,409

86,050

(9%)

Technology

18,090

17,150

16,942

16,102

14,811

22%

Depreciation and amortization

8,854

8,160

7,019

6,653

5,331

66%

Professional services

4,631

6,447

5,518

4,219

5,695

(19%)

Occupancy

1,179

948

1,058

843

917

29%

Marketing and advertising

1,160

2,998

895

711

469

147%

Other operating expenses

3,566

4,477

8,624

3,352

3,944

(10%)

Total Operating Expenses

115,498

128,269

124,927

113,289

117,217

(1%)

Income (loss) from Operations

2,094

(8,294

)

(10,370

)

(9,228

)

(18,538

)

111%

Other income, net

5,933

6,557

7,244

8,787

10,513

(44%)

Income (Loss) before income tax expense

8,027

(1,737

)

(3,126

)

(441

)

(8,025

)

nm

Income tax expense

193

(343

)

498

206

235

(18%)

Net Income (Loss)

$

7,834

$

(1,394

)

$

(3,624

)

$

(647

)

$

(8,260

)

nm

Income (Loss) per share - basic

$

0.02

$

0.00

$

(0.01

)

$

0.00

$

(0.02

)

nm

Income (Loss) per share - diluted

$

0.02

$

0.00

$

(0.01

)

$

0.00

$

(0.02

)

nm

TPV (in millions)

$

112,360

$

108,694

$

97,962

$

91,386

$

84,472

33%

Adjusted EBITDA

$

33,338

$

30,677

$

30,310

$

28,509

$

20,081

66%

Adjusted EBITDA margin

20

%

18

%

19

%

19

%

14

%

6 ppts

Financial condition:

Cash and cash equivalents

$

674,790

$

709,443

$

747,248

$

732,722

$

830,897

(19%)

Restricted cash (1)

$

281,292

$

308,488

$

235,413

$

8,500

$

8,500

nm

Short-term investments

$

37,267

$

62,483

$

83,212

$

88,865

$

157,540

(76%)

Total assets

$

1,476,713

$

1,525,033

$

1,488,430

$

1,214,590

$

1,349,627

9%

Total liabilities

$

734,431

$

763,076

$

649,201

$

371,157

$

362,367

103%

Stockholders' equity

$

742,282

$

761,957

$

839,229

$

843,433

$

987,260

(25%)

(1) Restricted cash as of March 31, 2026, December 31, 2025 and September 30, 2025, consists primarily of customer funds held by TransactPay in segregated accounts in connection with its program management activities for card and e-money wallet programs amounting to $280.3 million, $306.9 million and $233.9 million, respectively.

ppts = percentage points

nm - not meaningful

Information Regarding Non-GAAP Measures

In addition to the financial measures prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), this press release contains certain non-GAAP financial measures. Marqeta considers Adjusted EBITDA, Adjusted EBITDA Growth, Adjusted EBITDA Margin, Adjusted EBITDA Margin based on Gross Profit, Net Income (Loss) Margin based on Gross Profit, and Adjusted operating expenses as supplemental measures of the Company’s performance that are not required by, nor presented in accordance with GAAP.

We define Adjusted EBITDA as net income (loss) adjusted, as applicable, to exclude depreciation and amortization; share-based compensation expense; payroll tax related to share-based compensation; restructuring and other one-time costs; non-recurring litigation expense; acquisition-related expenses which consist of due diligence costs, transaction costs and integration costs related to potential or successful acquisitions, and cash and non-cash postcombination compensation expenses; income tax expense (benefit); and other income (expense), net, which primarily consists of interest income from our short-term investments and cash deposits, and realized foreign currency gains and losses. We believe that Adjusted EBITDA is an important measure of operating performance because it allows management and our board of directors to evaluate and compare our core operating results, including our operating efficiencies, from period to period. Additionally, we utilize Adjusted EBITDA as an input into our calculation of our annual employee bonus plans and performance-based restricted stock units.

Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by net revenue. Adjusted EBITDA Margin based on Gross Profit is calculated as Adjusted EBITDA divided by Gross Profit, and Net Income (Loss) Margin based on Gross Profit is calculated as Net Income (Loss) divided by Gross Profit. Adjusted EBITDA growth represents the year-over-year percentage change in Adjusted EBITDA. These measures are used by management and our board of directors to evaluate our operating efficiency.

We define Adjusted operating expenses as total operating expenses adjusted, as applicable, to exclude depreciation and amortization; share-based compensation expense; payroll tax related to share-based compensation; restructuring and other one-time costs; non-recurring litigation expense; and acquisition-related expenses which consist of due diligence costs, transaction costs and integration costs related to potential or successful acquisitions, and cash and non-cash postcombination compensation expenses. We believe that Adjusted operating expenses is an important measure of operating performance because it allows management and our board of directors to evaluate and compare our core operating results, including our operating efficiencies, from period to period.

Adjusted EBITDA, Adjusted EBITDA Growth, Adjusted EBITDA Margin, Adjusted EBITDA Margin based on Gross Profit, Net Income (Loss) Margin based on Gross Profit, and Adjusted operating expenses should not be considered in isolation, or construed as an alternative to net loss, or any other performance measures derived in accordance with GAAP, or as an alternative to cash flow from operating activities or as a measure of the Company's liquidity. In addition, other companies may calculate Adjusted EBITDA differently than Marqeta does, which limits its usefulness in comparing Marqeta’s financial results with those of other companies.

The following table shows Marqeta's GAAP results reconciled to non-GAAP results included in this release:

Three Months Ended March 31,

2026

2025

GAAP Net Revenue

$

165,798

$

139,073

GAAP Gross Profit

$

117,592

$

98,679

GAAP Net Income (Loss)

$

7,834

$

(8,260

)

GAAP Net Income (Loss) Margin - % of Net Revenue

5

%

(6

)%

GAAP Net Income (Loss) Margin - % of Gross Profit

7

%

(8

)%

GAAP Total Operating Expenses

$

115,498

$

117,217

Net Income (Loss)

$

7,834

$

(8,260

)

Share-based compensation expense

20,017

25,915

Depreciation and amortization expense

8,854

5,331

Restructuring and other one-time costs(1)

841

2,358

Payroll tax expense related to share-based compensation

820

777

Acquisition-related expenses(2)

712

4,238

Other income, net

(5,933

)

(10,513

)

Income tax expense

193

235

Adjusted EBITDA

$

33,338

$

20,081

Adjusted EBITDA Margin - % of Net Revenue

20

%

14

%

Adjusted EBITDA Margin - % of Gross Profit

28

%

20

%

GAAP Total Operating Expenses

$

115,498

$

117,217

Share-based compensation expense

(20,017

)

(25,915

)

Depreciation and amortization expense

(8,854

)

(5,331

)

Restructuring and other one-time costs(1)

(841

)

(2,358

)

Payroll tax expense related to share-based compensation

(820

)

(777

)

Acquisition-related expenses(2)

(712

)

(4,238

)

Adjusted Operating Expenses

$

84,254

$

78,598

(1) Restructuring and other one-time costs include the costs related to the CEO transition and one-time retention bonuses provided to other key employees. These bonuses have service requirements and are expensed over the requisite service period.

(2) Acquisition-related expenses, including transaction costs, integration costs, and cash and non-cash postcombination compensation expenses, are excluded from Adjusted EBITDA. These expenses are specific to a discrete transaction and do not reflect our ongoing core operations or the recurring expenses required to sustain and operate our business.

A reconciliation of Adjusted EBITDA Growth to the comparable GAAP measure for the second quarter and full year of 2026 is not available due to the challenges and impracticability with estimating some of the items as such items cannot be reasonably predicted and could be significant. Because of those challenges, reconciliations of such forward-looking non-GAAP financial measures are not available without unreasonable effort.

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Highlights

Marqeta says embedded finance demand is expanding beyond debit into credit and BNPL.

Card issuing growth was tied to multinational expansion and flexible credential programs.  

Marqeta posted GAAP profit as BNPL and expense management volumes climbed.

As embedded finance providers race to move beyond standalone debit cards, Marqeta’s latest earnings on May 5 showed how card issuing platforms are being asked to support a broader mix of lending, buy now, pay later (BNPL) and credit-building products on a global scale.

CEO Mike Milotich said on the company’s earnings call that “multinational card issuers are becoming more and more common as card growth shifts from local banks to FinTechs and enterprises looking to support their customers in many geographies.”

Milotich added that embedded finance providers are looking for “an integrated continuum of products that span debit and credit,” allowing them to serve consumers and small businesses through different stages of their financial lives.

The comments came as Marqeta reported first-quarter total processing volume (TPV) growth of 33% year over year to $112 billion, with lending and BNPL activity remaining among the company’s fastest-growing categories.

Milotich repeatedly emphasized during the call that the market for card issuing is changing from a world centered on either debit or revolving credit into one where issuers want programmable combinations of debit, BNPL, secured credit and installments tied together under a single credential.

“There’s really this continuum where you could start with someone in debit, and then you could start to give them some transaction-based lending,” Milotich said during the analyst Q&A. “With the Flexible Credential, now you could do that on the same card.”

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Card Programs Expand Executives pointed to multinational expansion as another major driver of growth for card issuing programs.

Milotich said 12 of Marqeta’s top 15 customers now use its platform in more than one country, while six customers operate across at least five countries.

Analysts pressed management on whether demand for secured credit and flexible credential programs is broadening across the industry.

“We’re seeing more and more demand,” Milotich said. “If you’re a FinTech or you’re an embedded finance company, you want to be able to serve the entire spectrum of your customer base.”

The company also discussed emerging stablecoin-linked card programs, which management said could allow consumers to spend local fiat currencies from stablecoin balances through traditional card credentials. Larger financial institutions are beginning to explore modernization efforts using virtual card and embedded lending capabilities without fully replacing existing infrastructure.

Profitability Milestone CFO Patti Kangwankij said the company’s financial results reflected both continued growth in lending programs and tighter operational discipline.

“Most notably, we achieved GAAP profitability in the quarter with net income of $8 million,” she said.

Kangwankij said lending, including BNPL, continued growing at “nearly 60%” year over year, while expense management volumes remained above 40% growth.

Executives also said non-Block processing volumes continue to grow more than twice as fast as Block-related volumes, helping diversify Marqeta’s customer concentration.

Despite concerns about consumer spending and macroeconomic conditions, management said it has not yet seen major changes.

“We are not currently seeing any notable shift in spend or consumer behavior,” Kangwankij said while reiterating the company’s full-year revenue and gross profit guidance. Shares were down 3% in after hours trading on Tuesday.

-

OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta, Inc. (NASDAQ: MQ), the modern card issuing platform, today announced the appointment of Lukasz Strozek as the Company’s Chief Technology Officer, effective May 18, 2026. Mr. Strozek will lead the company’s global technology and engineering functions.

Mr. Strozek is a technology executive with 20 years of experience leading engineering organizations across early-stage, growth, and public companies in regulated financial services. He will join Marqeta from LendingClub Corp., where he served as CTO responsible for the engineering, product, and data organizations. Prior to that, Mr. Strozek was CTO of Hippo Insurance, where he led the software engineering, data engineering, and product management teams across multiple business lines. Earlier he held engineering and product leadership roles at Bridgewater Associates, Bolt Financial, and at SoFi following its 2018 acquisition of Clara Lending, a digital mortgage platform he co-founded.

“Lukasz brings deep technical expertise and a proven track record of scaling products and building high-performing engineering organizations, and we are thrilled to welcome him to the team,” said Mike Milotich, CEO of Marqeta. “His leadership will be instrumental in advancing our global technology roadmap and accelerating innovation to deliver solutions that expand payment possibilities for our customers.”

“With a clear focus on enabling payments innovation, Marqeta has built a strong technology foundation and a modern card issuing platform designed for scale,” said Mr. Strozek. “I’m excited to work with this talented team to deliver next-generation capabilities that help customers solve complex challenges and advance meaningful business outcomes. I look forward to driving continued success and helping build the company’s next chapter.”

About Marqeta

Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing nearly $400 billion in annual payments volume in 2025. Marqeta is certified to operate in more than 40 countries worldwide. Visit www.marqeta.com to learn more.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to our CTO search process, growth, value creation, technology, business and strategy. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: challenges with our CTO search process; any factors creating issues with changes in domestic and international business, technology, market, financial, political and legal conditions; and those risks and uncertainties included in the “Risk Factors” disclosed in Marqeta’s Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.

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Card-issuing platform Marqeta is teaming up with Banking Circle to expand in Europe, according to a Tuesday (May 26) press release.

The collaboration is designed to bring Marqeta’s account and money movement tools to 30 new European countries, the release said.

“Europe represents one of our most important growth markets, and bringing these tools to multinational and regional businesses enables them to build the innovative payment experiences that are crucial to their success,” Interim Chief Product Officer Anthony Peculic said in the release. “By providing a single platform for card issuing, account and money movement, and program management, we’re enabling our customers to launch and scale the card programs their customers rely on with greater simplicity, flexibility and efficiency.”

The expanded offering is designed to help European businesses enhance their card programs through embedded virtual accounts and multi-rail payment capabilities to create more personalized experiences and greater customer engagement, according to the release.

The expansion comes as the company sees “strong momentum” in Europe, highlighted by an eight-fold growth in total processing volume (TPV) for its European card programs from 2022 to 2025, along with its acquisition of TransactPay last year, the release said.

The company earlier this month reported earnings that showed first-quarter TPV growth of 33% year over year to $112 billion, with lending and buy now, pay later activity remaining among Marqeta’s fastest-growing categories.

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Meanwhile, the PYMNTS Intelligence data brief “FinTechs Tap Embedded Payments to Deepen Customer Relationships,” a collaboration with Marqeta, found that FinTechs are increasingly offering at least one embedded finance feature.

Widespread adoption reflects confidence in the model, but it also exposes companies to a new set of operational and risk-related pressures that become more pronounced as capabilities multiply.

“Nearly 9 in 10 FinTechs use embedded finance to improve customer experiences, while 60% say it enhances trust with users,” PYMNTS reported March 3, based on the brief.

More than half reported reduced churn or higher revenues, and a similar share cited operational efficiencies.

“Embedded payments often serve as an entry point, anchoring broader financial relationships that include lending, payouts and wallets,” the report said. “In that role, embedded finance can act as a stabilizing force for customers, supporting continued spending and access to credit within familiar digital environments.”

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OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta, Inc. (NASDAQ: MQ), the modern card issuing platform, today released its 2026 State of Credit Report. Based on a survey of 4,000 consumers and 1,000 small and medium-sized businesses (SMBs) in the US and UK, the report reveals that static, single-product credit programs no longer match how consumers and businesses actually manage their finances, creating a significant opportunity for providers who build for the full credit journey.

A Patchwork of Credit Providers

Consumers and SMBs are using multiple products across different providers, and switching between them based on specific needs for each purchase rather than dissatisfaction with the product itself.

66% of consumers surveyed own a credit card, and 57% of those carry more than one, a figure that rises to 64% among US consumers and 50% among UK consumers surveyed. 85% of consumers surveyed consider multiple factors before deciding which payment method to use for a given transaction, and 59% have used both debit and credit within the past 90 days, switching based on purchase type, current financial situation, or preference. 96% of SMBs are intentional about which payment method they use for a given transaction, switching between them three to 10 times per month. BNPL and Flexible Credentials Gain Momentum

BNPL is complementing credit, not replacing it. 79% of BNPL users continue to use it even when they have credit card access, and among consumers without a credit card, 23% turn to BNPL when they can't pay in full, using it to finance purchases without taking on revolving debt. The demand for flexibility is also showing up in the appetite for flexible credentials: single cards that can switch between debit, credit, and BNPL at the point of purchase.

48% of consumers aged 18-44 surveyed express interest in flexible credentials, rising to 71% among consumers who already carry multiple cards. Among consumers interested in flexible credentials, 67% of respondents say it would replace their current debit card and 71% their current credit card, suggesting consumers see it as a replacement for the cards they already carry, not just another product to add to their wallet. Among SMBs surveyed that are planning to apply for a credit card in the next 12 months, 82% are interested in flexible credentials and 89% cite interest in flexible repayment terms. “Credit is no longer a single product consumers and SMBs either have or don’t have. It’s become a portfolio of tools they are assembling themselves, often from multiple providers, because most providers don’t offer the full range of products they need,” said Todd Pollak, Chief Revenue Officer, Marqeta. “Marqeta enables our customers to meet this challenge head-on, offering credit, debit, and flexible credentials from a single platform – reducing friction, protecting the brand experience, and serving consumers and SMBs throughout their credit journey.”

Keeping Customers Through Credit Transitions

Customers move between credit products for many reasons: a denied application, an improved credit score, a business crossing a revenue threshold, a change in life circumstances. The report finds that most providers aren't prepared to keep customers during these transitions, but there are new flexible product offerings that can help keep customers when their credit needs change.

63% of denied credit card applicants surveyed were never offered an alternative product, even though 60% would have been interested in a product that helps them build credit. 76% of denied credit card applicants surveyed would undergo a credit check to upgrade to revolving credit when their profile is ready. Additionally, co-brand debit with BNPL serves a second underserved group: consumers who want a branded product but can’t or don’t want to engage with traditional revolving credit.

33% of consumers surveyed express interest in co-brand debit cards, rising to 41% among consumers aged 18-44. When BNPL is paired with the right incentive package, 65% of previously neutral and 35% of previously uninterested consumers move into consideration. Non-Bank Providers Have an Opening

The report shows growing comfort and trust in non-bank providers, clearing the way for them to compete directly for credit customers.

53% of consumers surveyed trust established fintechs for financial services, 47% trust large retailers, 45% trust BNPL providers, and 33% trust technology platforms. 66% of SMBs surveyed are comfortable using financial services from non-banks, rising to 83% among SMBs planning to apply for a credit card in the next 12 months. Consumers interested in flexible credentials are more comfortable with non-banks (52%) than those who aren’t interested (25%), demonstrating the highest-demand segment is also the most open to alternative providers. “The biggest gap in SMB financial services isn't product availability. It's that most products don't evolve as the business does,” continued Pollak. “SMBs outgrow their first credit card as their business evolves and expands, meaning suddenly the tools they have don't fit anymore. That's the problem Marqeta is focused on solving. We give platforms the infrastructure to meet SMBs where they are, and grow with them from there."

Marqeta's platform powers credit, debit and flexible credentials from a single instance, enabling real-time underwriting decisions designed to help reduce unnecessary declines and protect brand relationships. From co-brand programs and credit builder products to the graduation paths between them, Marqeta is designed to give issuers the tools to grow with customers as their credit needs evolve.

About the research

Marqeta’s 2026 State of Credit Report was conducted on behalf of Marqeta in Q1 2026. Marqeta surveyed 4,000 consumers and 1,000 small and medium-sized businesses across the United States and United Kingdom. The report also covers graduation path design, alternative underwriting data, the personal-business credit blur among SMBs, and what the research ultimately means for providers launching new credit programs. Download the full report here.

About Marqeta

Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing nearly $400 billion in annual payments volume in 2025. Marqeta is certified to operate in more than 40 countries worldwide. Visit www.marqeta.com to learn more.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta’s business; Marqeta’s products and services; and statements made by Marqeta’s senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including those risks and uncertainties included in the “Risk Factors” disclosed in Marqeta’s Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.

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