Marqeta (MQ) Cost of Revenue (2020 - 2026)
Marqeta (MQ) posted Cost of Revenue of $54.12 million for Q2 2026, up 16.8% from $46.33 million a year earlier and up 12.3% from the prior quarter.
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Analysis
Marqeta (MQ) Cost of Revenue (2020 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Cost of Revenue at Marqeta was $203.22 million, up 25.3% year-over-year; for FY2025, it came in at $187.61 million, up 20.9% from FY2024.
- Annual Cost of Revenue shows a five-year compound annual growth rate of 1.7% (FY2020 to FY2025).
- In prior years, Marqeta's Cost of Revenue was $155.15 million in FY2024 (-55.2%), $346.66 million in FY2023 (-19.0%), $428.21 million in FY2022 (+50.0%) and $285.47 million in FY2021 (+65.6%).
- The Q2 2026 figure stands as the highest quarterly Cost of Revenue since Q2 2023.
- On a year-over-year basis, Cost of Revenue has increased in each of the last eight quarters, with growth averaging 16.7% over the last eight quarters.
- The strongest year-over-year quarter for Cost of Revenue in the past five years was Q1 2022, with growth of 57.2%; the weakest was Q1 2024, with a decline of 73.6%.
- According to Business Quant data, Cost of Revenue for the three prior quarters was $48.21 million (Q1 2026), $52.14 million (Q4 2025) and $48.75 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 48.27 Bn | 5.08 Bn | - | - |
| 2 | PayPal Holdings | 45.51 Bn | 3.74 Bn | - | - |
| 3 | Block | 44.67 Bn | 15.93 Bn | 3.17 Bn | 3.45 Bn |
| 4 | Iren | 31.78 Bn | 19.37 Bn | 103.89 Mn | 33.34 Mn |
| 5 | Corpay | 25.91 Bn | 16.11 Bn | - | - |
| 6 | Fiserv | 23.59 Bn | 20.29 Bn | 2.90 Bn | 2.40 Bn |
| 7 | Global Payments | 20.83 Bn | -735.18 Mn | 2.03 Bn | 1.29 Bn |
| 8 | Bitmine Immersion Technologies | 15.23 Bn | 12.61 Bn | 40.81 Mn | 5.73 Mn |
| 9 | Guidewire Software | 12.47 Bn | 9.03 Bn | 269.68 Mn | 141.41 Mn |
| 10 | Marqeta | 1.72 Bn | -1.29 Bn | 121.87 Mn | 54.12 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 54.12 Mn |
| Mar 31, 2026 | 48.21 Mn |
| Dec 31, 2025 | 52.14 Mn |
| Sep 30, 2025 | 48.75 Mn |
| Jun 30, 2025 | 46.33 Mn |
| Mar 31, 2025 | 40.39 Mn |
| Dec 31, 2024 | 37.59 Mn |
| Sep 30, 2024 | 37.84 Mn |
| Jun 30, 2024 | 45.92 Mn |
| Mar 31, 2024 | 33.81 Mn |
| Dec 31, 2023 | 35.59 Mn |
| Sep 30, 2023 | 36.38 Mn |
| Jun 30, 2023 | 146.51 Mn |
| Mar 31, 2023 | 128.18 Mn |
| Dec 31, 2022 | 116.68 Mn |
| Sep 30, 2022 | 111.52 Mn |
| Jun 30, 2022 | 108.63 Mn |
| Mar 31, 2022 | 91.38 Mn |
| Dec 31, 2021 | 79.62 Mn |
| Sep 30, 2021 | 72.44 Mn |
API Access
Marqeta Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=MQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "MQ", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=MQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();