Marqeta Reports FY2025 Total Processing Volume of $383 Billion, Up 31%, as Adjusted EBITDA Reaches $110 Million

Marqeta reported full-year 2025 financial results on 24 February 2026, disclosing total processing volume of $383 billion, a 31% increase from $291 billion in 2024. Net revenue for the full year reached $625 million, representing 23% year-on-year growth, and gross profit came in at $437 million, up 24% from the prior year, the company stated in its earnings release filed with the Securities and Exchange Commission. CEO Mike Milotich attributed the growth to deepening existing customer relationships and developing new ones through geographic, use case and solution expansion.

Adjusted EBITDA improved by $80 million year-on-year to reach $110 million for the full year.

FOURTH QUARTER ACCELERATES TO 36% TPV GROWTH

In the fourth quarter of 2025, total processing volume reached $109 billion, a 36% year-on-year increase.

Marqeta's platform enables businesses to issue physical and virtual payment cards with programmable spend controls and real-time authorisation.

2026 GUIDANCE

Marqeta issued guidance for full-year 2026 net revenue growth of 12% to 14%, compared with 23% growth in 2025.