Q2 Holdings, Inc. is a provider of secure, cloud-based digital banking solutions for regional and community financial institutions, credit unions, and fintechs. Headquartered in Austin, Texas, the company offers a comprehensive software platform that enables clients to deliver online and mobile banking, account opening, and lending services. Its single-codebase architecture allows financial institutions to unify retail, small business, and commercial banking experiences.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
794,809
696,464
624,624
565,673
Cost of Sales
365,126
341,983
321,973
309,328
Gross Profit
429,683
354,481
302,651
256,345
Selling, General & Administrative Expenses
231,371
228,893
219,708
198,377
Depreciation & Amortization Expenses
16,979
20,667
19,675
18,248
Research & Development Expenses
154,330
143,244
137,334
130,103
Other Operating Expenses
3,992
7,652
11,068
14,378
Operating Profit
39,897
(42,263)
(86,057)
(104,761)
Interest and Investment Income
20,237
16,342
10,098
5,362
Interest Expense
(5,409)
(4,939)
(5,732)
(6,676)
Non-Operating Income
—
—
19,869
—
Total Non-Operating Income
14,828
11,403
24,235
(1,314)
Income Before Provision for Income Taxes
54,725
(30,860)
(61,822)
(106,075)
Provision for Income Taxes
2,717
7,676
3,562
(2,908)
Consolidated Net Income
52,008
(38,536)
(65,384)
(103,167)
Net Income Attributable to Common Shareholders
52,008
(38,536)
(65,384)
(108,983)
Basic EPS
0.84
-0.64
-1.12
-1.90
Diluted EPS
0.80
-0.64
-1.12
-1.90
Basic Weighted Average Shares Outstanding
62,156
60,105
58,354
57,300
Diluted Weighted Average Shares Outstanding
65,118
60,105
58,354
57,300
Shares Outstanding
62,741
60,728
59,031
57,735
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
367,631
358,560
229,655
199,600
Total Cash and Cash Equivalents
367,631
358,560
229,655
199,600
Accounts Receivable
51,716
42,084
42,899
46,735
Other Receivables
8,596
7,888
9,193
8,909
Total Trade Receivables
60,312
49,972
52,092
55,644
Other Current Assets
128,109
150,128
146,217
275,832
Total Current Assets
556,052
558,660
427,964
531,076
Net Property, Plant & Equipment
54,971
61,930
76,631
96,532
Net Intangible Assets
78,377
94,633
121,572
145,681
Goodwill
512,869
512,869
512,869
512,869
Other Long-Term Assets
74,008
66,703
62,389
63,568
Total Assets
1,276,277
1,294,795
1,201,425
1,349,726
Accounts Payable
20,473
9,354
19,353
10,055
Accrued Expenses
56,326
51,188
43,051
44,208
Current Portion of Long-Term Debt
303,368
—
—
10,903
Current Portion of Leases
8,915
137,700
10,436
9,408
Unearned Revenue
155,003
190,331
118,723
117,468
Total Current Liabilities
544,085
10,327
191,563
192,042
Long-Term Debt
—
398,900
490,464
657,789
Leases
33,832
27,281
45,588
52,991
Other Long-Term Liabilities
36,549
340,461
25,331
27,880
Total Long-Term Liabilities
70,381
766,642
561,383
738,660
Total Liabilities
614,466
10,357
752,946
930,702
Common Stock
6
6
6
6
Additional Paid-in Capital
1,275,980
1,183,893
1,075,278
982,300
Accumulated Other Comprehensive Income
(1,953)
(1,873)
(1,111)
(2,972)
Retained Earnings
(612,222)
(664,230)
(625,694)
(560,310)
Total Common Shareholders' Equity
661,811
517,796
448,479
419,024
Total Shareholders' Equity
661,811
517,796
448,479
419,024
Total Liabilities and Shareholders' Equity
1,276,277
1,294,795
1,201,425
1,349,726
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
52,008
(38,536)
(65,384)
(108,983)
Depreciation & Amortization
57,124
94,657
125,131
84,929
Share-Based Compensation Expense
86,949
89,215
79,188
65,157
Other Adjustments
2,988
4,071
(15,378)
15,947
Changes in Trade Receivables
(9,936)
906
4,090
286
Changes in Accounts Payable
8,581
(9,788)
9,353
(548)
Changes in Accrued Expenses
1,851
5,968
(492)
(9,845)
Changes in Unearned Revenue
16,840
28,918
(3,092)
10,212
Changes in Other Operating Activities
(41,244)
(40,850)
(35,548)
(20,599)
Cash from Operating Activities
201,461
135,751
70,292
36,556
Capital Expenditure
(6,810)
(6,692)
(5,673)
(11,142)
Purchases of Intangible Assets
(21,283)
(22,339)
(24,970)
(18,910)
Purchases of Investments
(94,103)
(95,788)
(76,865)
(292,984)
Proceeds from Sale of Investments
118,168
103,739
220,776
162,521
Payments for Business Acquisitions
—
—
—
(5,040)
Cash from Investing Activities
(4,028)
(21,080)
113,268
(165,555)
Repayments of Long-Term Debt
(191,000)
(10,908)
(149,640)
—
Net Issuance / (Repayments) of Long-Term Debt
(191,000)
(10,908)
(149,640)
—
Issuance of Common Shares
7,028
14,259
8,397
5,882
Repurchases of Common Shares
(5,000)
—
—
—
Net Issuance / (Repurchases) of Common Shares
2,028
14,259
8,397
5,882
Other Financing Activities
(803)
—
—
—
Cash from Financing Activities
(188,972)
13,317
(152,012)
5,882
Effect of Exchange Rate Changes on Cash and Cash Equivalents
49
(827)
182
(802)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash