What is Marqeta's backlog?

Marqeta reported $36.2M of remaining performance obligations at 30 Sep 2026, down 18% from a year earlier and down 12% from the previous quarter. That is 0.1 years of trailing revenue already under contract. Book-to-bill last quarter: 0.97.

Marqeta (MQ) backlog: remaining performance obligations

How much revenue Marqeta already has under contract, how fast it converts, and who it is with.

Data as of 7 Nov 2026.

Open the interactive Backlog view Marqeta competitor analysis

Marqeta reported $36.2M of remaining performance obligations at 30 Sep 2026, down 18% from a year earlier and down 12% from the previous quarter. That is 0.1 years of trailing revenue already under contract. Book-to-bill last quarter: 0.97.
Net new backlog added in the latest quarter: -$4.80M.
The company reports 79% of the backlog due within the first 24 months.
Customer prepayments (contract liabilities) cover 34.8% of the backlog.
Twelve-month book-to-bill: 0.99, i.e. 0.99 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -35 points — revenue is catching up with orders.
By backlog size it ranks 481st among US filers the cockpit tracks.

Marqeta backlog history

Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).

Amounts in USD. Source: SEC XBRL filings.
Quarter end	Backlog (RPO)	TTM revenue	Coverage	Customer prepayments
30 Sep 2026	$36.2M	$690M	0.1 yrs	$12.6M
30 Jun 2026	$41.0M	$677M	0.1 yrs	$12.6M
31 Mar 2026	$37.0M	$652M	0.1 yrs	$11.5M
31 Dec 2025	$42.2M	$625M	0.1 yrs	$14.4M
30 Sep 2025	$44.1M	$589M	0.1 yrs	$15.0M
30 Jun 2025	$45.6M	$553M	0.1 yrs	$13.1M
31 Mar 2025	$47.5M	$528M	0.1 yrs	$15.3M
31 Dec 2024	$47.9M	$507M	0.1 yrs	$18.4M
30 Sep 2024	$51.3M	$490M	0.1 yrs	$15.6M
30 Jun 2024	$53.6M	$471M	0.1 yrs	$13.4M
31 Mar 2024	$58.3M	$577M	0.1 yrs	$15.2M

Questions

What is Marqeta's backlog?: Marqeta reported $36.2M of remaining performance obligations at 30 Sep 2026, down 18% from a year earlier and down 12% from the previous quarter. That is 0.1 years of trailing revenue already under contract. Book-to-bill last quarter: 0.97.

About these numbers

Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.