Marqeta (MQ) investor relations material

Business overview and recent performance

• Operates a modern card issuing platform with over $450 billion annualized volume and presence in 40 countries.

• Four main use cases: Buy Now, Pay Later, expense management, on-demand delivery, and neobanks.

• Non-Block customers are growing at twice the rate of Block, which now represents 41% of net revenue.

• Six of the top 10 customers by gross profit are growing over 50% in volume.

• International growth, especially in Europe, has been significant, with 100% annual growth between 2022 and 2025.

Leadership and organizational changes

• Full leadership team now in place, including recent hires in product, people, and technology roles.

• CEO previously served as CFO and has built out the executive team.

• Current planning is focused on 2027 and beyond.

Financial guidance and structural trends

• 2026 gross profit growth guided at 11-12%, with major impacts from contract renewals and Cash App pricing changes.

• Two large contract renewals and Cash App pricing step-down account for 7-8 percentage points of growth impact.

• Excluding these, underlying growth would be in the mid to high teens.

• Gross profit take rate affected by lower-margin European processing and enterprise deals, but overall gross profit dollars are prioritized.