Marqeta, Inc.MQ

Marqeta, Inc. Earnings Per Share Disclosure

10-KFiled Feb 24, 20262 min read
Net (Loss) Income Per Share Attributable to Common Stockholders
Basic net (loss) income per share is computed by dividing the net (loss) income by the weighted-average number of shares of common stock outstanding during the period. Diluted net (loss) income per share is computed by dividing net (loss) income by the weighted-average number of shares of common stock outstanding adjusted for the dilutive effect of all potential shares of common stock. In periods when the Company reported a net loss, diluted net loss per share is the same as basic net loss per share because the effects of potentially dilutive items were anti-dilutive.
The Company calculated basic and diluted net (loss) income per share attributable to common stockholders as follows:
Year Ended December 31,
202520242023
Class A
Class B
Class A
Class B
Class A
Class B
Numerator
Net (loss) income attributable to common stockholders, basic
$(12,925)$(1,000)$24,938 $2,349 $(199,108)$(23,854)
Net (loss) income attributable to common stockholders, diluted
$(12,925)$(1,000)$24,808 $2,479 $(199,108)$(23,854)
Denominator
Weighted-average shares used in computing basic Net (loss) income per share attributable to common stockholders
428,988 33,180 467,071 43,993 475,564 56,976 
Effect of dilutive potential shares of common stock
— — 4,646 3,135 — — 
Weighted-average shares used in computing diluted Net (loss) income per share attributable to common stockholders
428,988 33,180 471,717 47,128 475,564 56,976 
Net (loss) income per share attributable to common stockholders, basic
$(0.03)$(0.03)$0.05 $0.05 $(0.42)$(0.42)
Net (loss) income per share attributable to common stockholders, diluted
$(0.03)$(0.03)$0.05 $0.05 $(0.42)$(0.42)
As liquidation and dividend rights are identical for Class A common stock and Class B common stock, the undistributed earnings are allocated on a proportionate basis and the resulting income (loss) per share will, therefore, be the same for both Class A common stock and Class B common stock on an individual or combined basis.
The following potentially dilutive securities were excluded from the computation of diluted net loss per share during the years ended December 31, 2025 and 2023 because including them would have had an anti-dilutive effect as the Company was in a loss position during those periods:
Year Ended December 31,
20252023
Class AClass BClass AClass B
Warrants to purchase Class B common stock— — — 1,900 
Stock options, restricted stock, and employee stock purchase plan
33,437 3,846 46,236 28,864 
Total33,437 3,846 46,236 30,764 
Potentially dilutive securities that were excluded from the computation of diluted net income per share during the year ended December 31, 2024 because including them would have had an anti-dilutive effect were as follows:
Year Ended December 31, 2024
Class AClass B
Stock options outstanding, including early exercise of options8,136 13,880 
Unvested RSUs outstanding21,111 259 
Total29,247 14,139 

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

Income TaxesRevenueFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsCommitmentsStock CompensationNew StandardsPay vs Performance