Marqeta (MQ) Operating Expenses (2020 - 2026)
Marqeta (MQ) posted quarterly Operating Expenses of $115.5 million for Q1 2026, down 1.47% year-over-year from $117.2 million in Q1 2025, and down 9.96% quarter-over-quarter from $128.3 million in Q4 2025.
Marqeta (MQ) Operating Expenses (2020 - 2026) Analysis & Trends
Marqeta (MQ) has reported Operating Expenses for 7 consecutive years, with $115.5 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses fell 1.47% year-over-year to $115.5 million; the TTM figure through Mar 2026 stood at $482.0 million (up 34.06% YoY), while the FY2025 annual figure was $483.7 million, up 28.54% from the prior year.
- Operating Expenses declined to $115.5 million in Q1 2026 per MQ's latest filing, from $128.3 million in the prior quarter.
- Across five years, Operating Expenses topped out at $176.6 million in Q1 2023 and bottomed at -$25.7 million in Q2 2024.
- Historically, Operating Expenses has averaged $124.6 million across 5 years, with a median of $132.4 million in 2024.
- Annual changes were most pronounced in 2024 — Operating Expenses sank 116.68% — and 2025, when it soared 541.0%.
- Marqeta's Operating Expenses stood at $141.4 million in 2022, then fell by 1.33% to $139.6 million in 2023, then retreated by 2.82% to $135.6 million in 2024, then decreased by 5.43% to $128.3 million in 2025, then decreased by 9.96% to $115.5 million in 2026.
- Business Quant data shows MQ's Operating Expenses at $115.5 million in Q1 2026, $128.3 million in Q4 2025, and $124.9 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 12.28 Bn |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 726.59 Mn |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | 13.05 Bn |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 2.21 Bn |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 953.90 Mn |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 705.21 Mn |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 1.57 Bn |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | 2.62 Bn |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 2.72 Bn |
| 10 | Marqeta | 1.63 Bn | 928.54 Mn | 121.87 Mn | 118.24 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 118.24 Mn |
| Mar 31, 2026 | 115.50 Mn |
| Dec 31, 2025 | 128.27 Mn |
| Sep 30, 2025 | 124.93 Mn |
| Jun 30, 2025 | 113.29 Mn |
| Mar 31, 2025 | 117.22 Mn |
| Dec 31, 2024 | 135.63 Mn |
| Sep 30, 2024 | 132.36 Mn |
| Jun 30, 2024 | -25.69 Mn |
| Mar 31, 2024 | 134.01 Mn |
| Dec 31, 2023 | 139.57 Mn |
| Sep 30, 2023 | 142.33 Mn |
| Jun 30, 2023 | 154.03 Mn |
| Mar 31, 2023 | 176.60 Mn |
| Dec 31, 2022 | 141.45 Mn |
| Sep 30, 2022 | 139.60 Mn |
| Jun 30, 2022 | 124.77 Mn |
| Mar 31, 2022 | 124.00 Mn |
| Dec 31, 2021 | 113.53 Mn |
| Sep 30, 2021 | 104.71 Mn |