Marqeta (MQ) Gross Margin (2020 - 2026)
Marqeta (MQ) posted quarterly Gross Margin of 70.92% for Q1 2026, down 3.0% year-over-year from 73.12% in Q1 2025, and up 1.75% quarter-over-quarter from 69.71% in Q4 2025.
Marqeta (MQ) Gross Margin (2020 - 2026) Analysis & Trends
Marqeta (MQ) has reported Gross Margin for 7 consecutive years, with 70.92% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin fell 3.0% year-over-year to 70.92%; the TTM figure through Mar 2026 stood at 70.01% (up 63.0% YoY), while the FY2025 annual figure was 69.98%, up 58.0% from the prior year.
- Gross Margin grew to 70.92% in Q1 2026 per MQ's latest filing, from 69.71% in the prior quarter.
- Across five years, Gross Margin topped out at 72.32% in Q4 2024 and bottomed at 36.61% in Q2 2023.
- Historically, Gross Margin has averaged 59.65% across 5 years, with a median of 69.19% in 2025.
- Annual changes were most pronounced in 2022 — Gross Margin slumped 602 bps — and 2024, when it soared 3032 bps.
- Marqeta's Gross Margin stood at 42.75% in 2022, then soared by 64 bps to 70.05% in 2023, then climbed by 3 bps to 72.32% in 2024, then decreased by 4 bps to 69.71% in 2025, then gained by 2 bps to 70.92% in 2026.
- Business Quant data shows MQ's Gross Margin at 70.92% in Q1 2026, 69.71% in Q4 2025, and 70.15% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 67.20% |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 84.66% |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | - |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 67.55% |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 80.24% |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 71.76% |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 73.54% |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | 65.86% |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 47.84% |
| 10 | Marqeta | 1.63 Bn | 928.54 Mn | 121.87 Mn | 69.25% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 69.25% |
| Mar 31, 2026 | 70.92% |
| Dec 31, 2025 | 69.71% |
| Sep 30, 2025 | 70.15% |
| Jun 30, 2025 | 69.19% |
| Mar 31, 2025 | 70.95% |
| Dec 31, 2024 | 72.32% |
| Sep 30, 2024 | 70.43% |
| Jun 30, 2024 | 63.35% |
| Mar 31, 2024 | 71.34% |
| Dec 31, 2023 | 70.05% |
| Sep 30, 2023 | 66.59% |
| Jun 30, 2023 | 36.61% |
| Mar 31, 2023 | 41.02% |
| Dec 31, 2022 | 42.75% |
| Sep 30, 2022 | 41.80% |
| Jun 30, 2022 | 41.81% |
| Mar 31, 2022 | 44.99% |
| Dec 31, 2021 | 48.77% |
| Sep 30, 2021 | 44.92% |