Marqeta, Inc.
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 24, 2026
MQ$18.34-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net (loss) income | $(13,925) | $27,287 | $(222,962) |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||
| Share-based compensation expense | 104,788 | 136,562 | 127,525 |
| Depreciation and amortization | 27,163 | 17,460 | 10,741 |
| Non-cash operating leases expense | 2,266 | 1,756 | 2,527 |
| Amortization of premium on short-term investments | (755) | (3,232) | (4,495) |
| Executive chairman long-term performance award | — | (144,617) | 53,214 |
| Non-cash postcombination compensation expense | — | — | 32,430 |
| Other | 558 | 1,669 | 736 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (8,864) | (11,202) | (4,556) |
| Settlements receivable | (1,834) | 13,719 | (11,894) |
| Network incentives receivable | 5,717 | (12,969) | (11,146) |
| Prepaid expenses and other assets | (2,092) | 462 | 7,900 |
| Accounts payable | (81) | (350) | (1,956) |
| Revenue share payable | 31,127 | 19,754 | 31,451 |
| Accrued expenses and other liabilities | 22,710 | 15,112 | 14,983 |
| Operating lease liabilities | (4,155) | (3,241) | (3,394) |
| Net cash provided by operating activities | 162,623 | 58,170 | 21,104 |
| Cash flows from investing activities: | |||
| Restricted cash acquired in business combination | 229,650 | — | — |
| Maturities of short-term investments | 120,885 | 92,000 | 501,534 |
| Cash paid for business acquisition, net of cash acquired | (45,663) | — | (135,777) |
| Capitalization of internal-use software | (28,425) | (18,794) | (11,889) |
| Purchases of short-term investments | (3,501) | — | (892,430) |
| Purchases of property and equipment | (1,835) | (2,418) | (762) |
| Sales of short-term investments | — | — | 577,934 |
| Realized loss on investments | — | — | (94) |
| Net cash provided by investing activities | 271,111 | 70,788 | 38,516 |
| Cash flows from financing activities: | |||
| Repurchase of common stock | (391,366) | (154,425) | (190,420) |
| Taxes paid related to net share settlement of restricted stock units | (36,973) | (35,407) | (26,662) |
| Change in funds payable and amounts due to customers | 77,256 | — | — |
| Proceeds from shares issued in connection with employee stock purchase plan | 2,101 | 2,715 | 3,066 |
| Proceeds from exercise of stock options, including early exercised stock options, net of repurchase of early exercised unvested options | 1,663 | 203 | 5,289 |
| Payment of acquisition-related contingent consideration | — | — | (53,067) |
| Net cash used in financing activities | (347,319) | (186,914) | (261,794) |
| Increase (decrease) in cash, cash equivalents, and restricted cash | 86,415 | (57,956) | (202,174) |
| Cash, cash equivalents, and restricted cash - Beginning of period | 931,516 | 989,472 | 1,191,646 |
| Cash, cash equivalents, and restricted cash - End of period | $1,017,931 | $931,516 | $989,472 |
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Reconciliation of cash, cash equivalents, and restricted cash | |||
| Cash and cash equivalents | $709,443 | $923,016 | $980,972 |
| Restricted cash | 307,593 | 8,500 | 8,500 |
| Restricted cash, included in Other assets | 895 | — | — |
| Total cash, cash equivalents, and restricted cash | $1,017,931 | $931,516 | $989,472 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for operating lease liabilities | $4,995 | $4,581 | $4,239 |
| Cash paid for income taxes | $595 | $396 | $430 |
| Supplemental disclosures of non-cash investing and financing activities: | |||
| Share-based compensation capitalized to internal-use software | $11,176 | $7,059 | $4,492 |
| Contingent and holdback considerations, not yet paid | $6,030 | $— | $— |
| Operating lease right-of-use assets in exchange for lease liabilities | $5,345 | $577 | $— |
| Repurchase of common stock, including excise tax, accrued and not yet paid | $3,506 | $906 | $991 |
| Purchase of property and equipment accrued and not yet paid | $1,192 | $2,129 | $113 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.