MQMarqeta, Inc.
Services-Prepackaged Software
- Revenue
- $625M
- 23% YoY
- Operating margin
- -7.4%
- 54% YoY
- EBITDA
- −$19M
- 175% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- —
Red flags 2 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired17% of revenueOver 10% of revenue
- Payouts exceed cash flowFired241% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear11% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $517M | $748M | $676M | $507M | $625M | 23% |
| Operating income | −$162M | −$210M | −$283M | −$24M | −$46M | 90% |
| Net income | −$164M | −$185M | −$223M | $27M | −$14M | 151% |
| Operating cash flow | $57M | −$13M | $21M | $58M | $163M | 180% |
| Capex | $3M | $2M | $762K | $2M | $2M | 24% |
| Stock-based comp | $143M | $108M | $128M | $137M | $105M | 23% |
| Buybacks | $0 | $78M | $190M | $154M | $391M | 153% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $55K · 3
- Net
- −$55K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 16 | 240 |
| FY2024 | — | — | 12 | 193 |
| FY2023 | — | — | 23 | 142 |
| FY2022 | — | — | 20 | 90 |
| FY2021 | — | — | 56 | 125 |