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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $176.00M | $165.80M | $172.11M | $163.31M | $150.39M | $139.07M | $135.79M | $127.97M |
| Cost of revenue | $54.12M | $48.21M | $52.14M | $48.75M | $46.33M | $40.39M | $37.59M | $37.84M |
| Gross profit | $121.87M | $117.59M | $119.98M | $114.56M | $104.06M | $98.68M | $98.20M | $90.13M |
| Gross margin | 69.2% | 70.9% | 69.7% | 70.1% | 69.2% | 71.0% | 72.3% | 70.4% |
| Selling, general and administrative | $104.05M | $103.08M | $115.63M | $109.28M | $103.28M | $107.94M | $124.77M | $123.80M |
| Operating expenses | $118.24M | $115.50M | $128.27M | $124.93M | $113.29M | $117.22M | $135.63M | $132.36M |
| Operating income | $3.64M | $2.09M | −$8.29M | −$10.37M | −$9.23M | −$18.54M | −$37.43M | −$42.23M |
| Operating margin | 2.1% | 1.3% | -4.8% | -6.4% | -6.1% | -13.3% | -27.6% | -33.0% |
| EBITDA | $13.33M | $10.95M | −$134.00K | −$3.35M | −$2.58M | −$13.21M | −$31.91M | −$37.78M |
| Income before taxes | $8.07M | $8.03M | −$1.74M | −$3.13M | −$441.00K | −$8.03M | −$26.72M | −$28.53M |
| Income taxes | $505.00K | $193.00K | −$343.00K | $498.00K | $206.00K | $235.00K | $394.00K | $115.00K |
| Net income | $7.57M | $7.83M | −$1.39M | −$3.62M | −$647.00K | −$8.26M | −$27.12M | −$28.64M |
| Net margin | 4.3% | 4.7% | -0.8% | -2.2% | -0.4% | -5.9% | -20.0% | -22.4% |
| EPS, basic | $0.07 | $0.08 | −$0.01 | −$0.01 | −$0.01 | −$0.08 | −$0.22 | −$0.06 |
| EPS, diluted | $0.07 | $0.08 | −$0.01 | −$0.01 | −$0.01 | −$0.08 | −$0.21 | −$0.06 |
| Diluted shares | 106.80M | 108.39M | 195.84M | 448.72M | 115.38M | 125.31M | 131.46M | 507.16M |
Figures describe Marqeta shares, not any token. As of Aug 4, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.