Shares of Marqeta, Inc. (MQ) surged 5.58% in after-hours trading on Wednesday, following the release of its third-quarter 2025 financial results that significantly surpassed analysts' expectations. The modern card issuing platform demonstrated robust growth across key metrics, instilling confidence in investors about the company's trajectory.

Marqeta reported Q3 revenue of $163 million, handily beating the IBES estimate of $148.9 million. The company's adjusted EBITDA came in at $30 million, significantly outperforming the expected $18.9 million. Earnings per share (EPS) also exceeded forecasts, with a reported loss of $0.01 per share compared to the anticipated loss of $0.02 per share. These strong results were underpinned by impressive year-over-year growth, with Total Processing Volume up 33% to $98.0 billion and Net Revenue increasing 28% to $163.3 million.

The company's performance was further bolstered by strategic business developments, including signing a global Fortune 500 company for electronic supplier payments and being selected to power an embedded finance credit program for small and mid-sized companies. Marqeta also expanded its relationship with a North American expense management customer into Europe, leveraging its recent TransactPay acquisition. With a positive outlook for Q4 2025, projecting Net Revenue Growth of 22% to 24% and an Adjusted EBITDA margin of 15% to 16%, Marqeta appears well-positioned for continued growth, driving investor enthusiasm and the subsequent stock price surge.