NYSE : QTWO
Q2 Holdings, Inc. — Financial statements
Technology · Software - Application · United States
Last price 65.28 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 4.03B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Q2 Holdings, Inc. (QTWO) reported revenue of 870.26M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 870.26M | 794.81M | 696.46M | 624.62M | 565.67M | 498.72M |
| Cost of Revenue | 362.02M | 365.13M | 341.98M | 321.97M | 309.33M | 273.69M |
| Gross Profit | 508.24M | 429.68M | 354.48M | 302.65M | 256.35M | 225.03M |
| Selling, General & Admin | 234.97M | 233.45M | 236.52M | 230.68M | 211.58M | 165.49M |
| Research & Development | 164.98M | 154.33M | 143.24M | 137.33M | 130.10M | 116.95M |
| Amortization of Goodwill & Intangibles | 93.00K | 16.98M | 20.67M | 18.25M | 17.90M | |
| Operating Expenses | 399.95M | 387.87M | 396.74M | 388.68M | 359.93M | 300.34M |
| Operating Income | 108.29M | 41.81M | -42.26M | -86.03M | -103.58M | -75.31M |
| Interest Expense | -3.04M | -4.93M | -4.74M | -4.64M | -6.68M | -31.57M |
| Interest & Investment Income | 19.14M | 19.14M | 15.07M | 6.91M | 4.36M | 676.00K |
| Other Non Operating Income (Expenses) | -8.35M | -483.00K | -199.00K | -1.10M | ||
| EBT Excluding Unusual Items | 116.03M | 55.54M | -32.13M | -84.86M | -105.90M | -106.19M |
| Merger & Restructuring Charges | -436.00K | -166.00K | -24.00K | -1.18M | -2.69M | |
| Gain (Loss) on Sale of Investments | 184.00K | 1.10M | 1.27M | 3.19M | 302.00K | -1.12M |
| Gain (Loss) on Sale of Assets | 800.00K | -389.00K | ||||
| Legal Settlements | -1.75M | |||||
| Other Unusual Items | 19.87M | 700.00K | -713.00K | |||
| Pretax Income | 116.58M | 54.73M | -30.86M | -61.82M | -106.08M | -111.10M |
| Income Tax Expense | 6.42M | 2.72M | 7.68M | 3.56M | 2.91M | 1.64M |
| Net Income | 110.16M | 52.01M | -38.54M | -65.38M | -108.98M | -112.75M |
| Net Income to Common | 110.16M | 52.01M | -38.54M | -65.38M | -108.98M | -112.75M |
| Shares Outstanding (Basic) | 62.39M | 62.16M | 60.10M | 58.35M | 57.30M | 56.39M |
| Shares Outstanding (Diluted) | 65.58M | 65.12M | 60.10M | 58.35M | 57.30M | 56.39M |
| EPS (Basic) | 1.77 | 0.84 | -0.64 | -1.12 | -1.90 | -2.00 |
| EPS (Diluted) | 1.69 | 0.80 | -0.64 | -1.12 | -1.90 | -2.00 |
| Free Cash Flow | 232.99M | 194.65M | 129.06M | 64.62M | 25.41M | 11.34M |
| Free Cash Flow Per Share | 3.55 | 2.99 | 2.15 | 1.11 | 0.44 | 0.20 |
| Gross Margin | 58.40% | 54.06% | 50.90% | 48.45% | 45.32% | 45.12% |
| Operating Margin | 12.44% | 5.26% | -6.07% | -13.77% | -18.31% | -15.10% |
| Profit Margin | 12.66% | 6.54% | -5.53% | -10.47% | -19.27% | -22.61% |
| Free Cash Flow Margin | 26.77% | 24.49% | 18.53% | 10.35% | 4.49% | 2.27% |
| EBITDA | 139.52M | 74.19M | 4.53M | -37.73M | -64.63M | -42.47M |
| EBITDA Margin | 16.03% | 9.33% | 0.65% | -6.04% | -11.43% | -8.52% |
| D&A For EBITDA | 31.23M | 32.38M | 46.79M | 48.30M | 38.96M | 32.83M |
| EBIT | 108.29M | 41.81M | -42.26M | -86.03M | -103.58M | -75.31M |
| EBIT Margin | 12.44% | 5.26% | -6.07% | -13.77% | -18.31% | -15.10% |
| Effective Tax Rate | 5.51% | 4.96% | ||||
| Advertising Expenses | 4.60M | 4.30M | 4.30M | 4.40M | 2.70M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 116.31M | 367.63M | 358.56M | 229.66M | 199.60M | 322.85M |
| Short-Term Investments | 6.68M | 65.06M | 88.07M | 94.35M | 233.75M | 104.88M |
| Cash & Short-Term Investments | 122.99M | 432.69M | 446.63M | 324.01M | 433.35M | 427.73M |
| Receivables | 103.51M | 60.31M | 49.97M | 52.09M | 55.64M | 48.82M |
| Prepaid Expenses | 20.01M | 28.23M | 23.51M | 11.62M | 10.83M | 10.53M |
| Restricted Cash | 1.75M | 1.67M | 2.23M | 3.98M | 2.30M | 2.97M |
| Other Current Assets | 34.44M | 33.14M | 36.32M | 36.26M | 28.95M | 32.40M |
| Total Current Assets | 282.69M | 556.05M | 558.66M | 427.96M | 531.08M | 522.45M |
| Property, Plant & Equipment | 53.14M | 54.97M | 61.93M | 76.63M | 96.53M | 118.89M |
| Goodwill | 512.87M | 512.87M | 512.87M | 512.87M | 512.87M | 512.87M |
| Other Intangible Assets | 71.46M | 78.38M | 94.63M | 121.57M | 145.68M | 162.46M |
| Long-Term Accounts Receivable | 15.95M | 14.10M | 9.48M | 12.21M | 16.19M | 22.10M |
| Long-Term Deferred Charges | 63.42M | 56.76M | 54.52M | 47.57M | 45.12M | 43.97M |
| Other Long-Term Assets | 4.53M | 3.15M | 2.70M | 2.61M | 2.26M | 2.31M |
| Total Assets | 1.00B | 1.28B | 1.29B | 1.20B | 1.35B | 1.39B |
| Accounts Payable | 21.31M | 20.47M | 9.35M | 19.35M | 10.05M | 10.60M |
| Accrued Expenses | 51.56M | 56.33M | 51.19M | 41.13M | 41.57M | 46.33M |
| Current Portion of Long-Term Debt | 303.37M | 190.33M | 10.90M | |||
| Current Portion of Leases | 8.41M | 8.91M | 10.33M | 10.44M | 9.41M | 9.00M |
| Current Unearned Revenue | 197.69M | 155.00M | 137.70M | 118.72M | 117.47M | 98.69M |
| Other Current Liabilities | 1.92M | 2.64M | 3.74M | |||
| Total Current Liabilities | 278.98M | 544.09M | 398.90M | 191.56M | 192.04M | 168.36M |
| Long-Term Debt | 302.12M | 490.46M | 657.79M | 551.60M | ||
| Long-Term Leases | 30.48M | 33.83M | 38.35M | 45.59M | 52.99M | 61.37M |
| Long-Term Unearned Revenue | 27.47M | 26.83M | 27.28M | 17.35M | 21.69M | 29.17M |
| Other Long-Term Liabilities | 9.34M | 9.72M | 10.36M | 7.98M | 6.19M | 4.25M |
| Total Liabilities | 346.27M | 614.47M | 777.00M | 752.95M | 930.70M | 814.75M |
| Common Stock | 6.00K | 6.00K | 6.00K | 6.00K | 6.00K | 6.00K |
| Additional Paid-In Capital | 1.18B | 1.28B | 1.18B | 1.08B | 982.30M | 1.06B |
| Retained Earnings | -522.50M | -612.22M | -664.23M | -625.69M | -560.31M | -493.93M |
| Comprehensive Income & Other | -2.95M | -1.95M | -1.87M | -1.11M | -2.97M | -135.00K |
| Shareholders' Equity | 657.78M | 661.81M | 517.80M | 448.48M | 419.02M | 570.30M |
| Total Liabilities & Equity | 1.00B | 1.28B | 1.29B | 1.20B | 1.35B | 1.39B |
| Total Debt | 38.89M | 346.12M | 541.12M | 546.49M | 731.09M | 621.97M |
| Net Cash (Debt) | 84.10M | 86.58M | -94.49M | -222.48M | -297.74M | -194.25M |
| Net Cash Per Share | 1.28 | 1.33 | -1.57 | -3.81 | -5.20 | -3.44 |
| Filing Date Shares Outstanding | 61.78M | 62.40M | 60.73M | 59.07M | 57.74M | 56.93M |
| Total Common Shares Outstanding | 61.78M | 62.74M | 60.73M | 59.03M | 57.73M | 56.93M |
| Working Capital | 3.72M | 11.97M | 159.76M | 236.40M | 339.03M | 354.09M |
| Book Value Per Share | 10.65 | 10.55 | 8.53 | 7.60 | 7.26 | 10.02 |
| Tangible Book Value | 73.46M | 70.56M | -89.71M | -185.96M | -239.53M | -105.03M |
| Tangible Book Value Per Share | 1.19 | 1.12 | -1.48 | -3.15 | -4.15 | -1.85 |
| Machinery | 81.03M | 80.58M | 77.94M | 75.79M | 68.80M | |
| Leasehold Improvements | 36.87M | 30.50M | 28.22M | 26.55M | 26.17M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 110.16M | 52.01M | -38.54M | -65.38M | -108.98M | -112.75M |
| Depreciation & Amortization | 31.23M | 32.38M | 46.79M | 48.30M | 38.96M | 32.83M |
| Other Amortization | 49.48M | 53.25M | 51.11M | 51.35M | 48.69M | 74.36M |
| Loss (Gain) From Sale of Assets | 389.00K | |||||
| Asset Writedown & Restructuring Costs | -43.00K | -43.00K | 1.67M | 4.08M | 11.67M | 2.01M |
| Loss (Gain) From Sale of Investments | -184.00K | -1.10M | -1.27M | -3.19M | -302.00K | 1.12M |
| Stock-Based Compensation | 80.99M | 86.95M | 89.22M | 79.19M | 65.16M | 55.90M |
| Provision & Write-off of Bad Debts | 14.00K | |||||
| Other Operating Activities | 726.00K | 1.93M | 1.62M | -18.36M | 1.86M | 1.69M |
| Change in Accounts Receivable | -30.82M | -15.26M | 4.94M | 7.78M | -815.00K | -14.24M |
| Change in Accounts Payable | 14.01M | 8.58M | -9.79M | 9.35M | -548.00K | 1.76M |
| Change in Unearned Revenue | 26.23M | 16.84M | 28.92M | -3.09M | 10.21M | 15.74M |
| Change in Other Net Operating Assets | -36.42M | -34.07M | -38.91M | -39.73M | -29.34M | -27.74M |
| Operating Cash Flow | 245.35M | 201.46M | 135.75M | 70.29M | 36.56M | 31.09M |
| Capital Expenditures | -12.36M | -6.81M | -6.69M | -5.67M | -11.14M | -19.75M |
| Cash Acquisitions | -5.04M | -64.65M | ||||
| Sale (Purchase) of Intangibles | -26.23M | -21.28M | -22.34M | -24.97M | -18.91M | -5.87M |
| Investment in Securities | 89.94M | 24.07M | 7.95M | 143.91M | -130.46M | 25.14M |
| Investing Cash Flow | 51.34M | -4.03M | -21.08M | 113.27M | -165.56M | -65.13M |
| Long-Term Debt Repaid | -191.00M | -160.55M | -63.69M | |||
| Net Debt Issued (Repaid) | -495.00M | -191.00M | -160.55M | -63.69M | ||
| Issuance of Common Stock | 6.43M | 7.03M | 14.26M | 8.40M | 5.88M | 5.89M |
| Repurchase of Common Stock | -163.88M | -5.00M | ||||
| Other Financing Activities | -942.00K | 139.00K | 6.64M | |||
| Financing Cash Flow | -652.45M | -188.97M | 13.32M | -152.01M | 5.88M | -51.16M |
| Foreign Exchange Rate Adjustments | -721.00K | 49.00K | -827.00K | 182.00K | -802.00K | -167.00K |
| Net Cash Flow | -356.47M | 8.51M | 127.16M | 31.73M | -123.92M | -85.36M |
| Free Cash Flow | 232.99M | 194.65M | 129.06M | 64.62M | 25.41M | 11.34M |
| Free Cash Flow Margin | 26.77% | 24.49% | 18.53% | 10.35% | 4.49% | 2.27% |
| Free Cash Flow Per Share | 3.55 | 2.99 | 2.15 | 1.11 | 0.44 | 0.20 |
| Levered Free Cash Flow | 209.66M | 189.77M | 137.75M | 94.70M | 63.21M | 71.92M |
| Unlevered Free Cash Flow | 210.31M | 190.74M | 138.65M | 95.49M | 64.67M | 63.79M |
| Cash Interest Paid | 2.85M | 2.85M | 2.68M | 2.65M | 2.89M | |
| Cash Income Tax Paid | 3.84M | 3.84M | 5.88M | 2.62M | 875.00K | |
| Change in Working Capital | -27.01M | -23.91M | -14.85M | -25.69M | -20.49M | -24.48M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.14B | 4.51B | 6.08B | 2.55B | 1.55B | 4.51B |
| Enterprise Value | 4.06B | 4.48B | 6.21B | 2.80B | 1.88B | 4.74B |
| Last Close Price | 67.08 | 72.16 | 100.65 | 43.41 | 26.87 | 79.44 |
| PE Ratio | 39.59 | 86.76 | ||||
| Forward PE | 20.71 | 27.40 | 50.48 | 38.23 | 55.60 | 248.64 |
| PS Ratio | 4.76 | 5.68 | 8.73 | 4.08 | 2.73 | 9.05 |
| PB Ratio | 6.30 | 6.82 | 11.74 | 5.68 | 3.69 | 7.91 |
| P/TBV Ratio | 56.42 | 63.94 | ||||
| P/FCF Ratio | 17.79 | 23.18 | 47.10 | 39.39 | 60.81 | 398.09 |
| P/OCF Ratio | 16.89 | 22.40 | 44.78 | 36.21 | 42.28 | 145.17 |
| PEG Ratio | 1.75 | 1.75 | 1.75 | 1.75 | 1.75 | |
| EV/Sales Ratio | 4.67 | 5.64 | 8.92 | 4.48 | 3.33 | 9.50 |
| EV/EBITDA Ratio | 29.10 | 60.42 | 1,371.66 | |||
| EV/EBIT Ratio | 37.49 | 107.20 | ||||
| EV/FCF Ratio | 17.43 | 23.03 | 48.15 | 43.34 | 74.08 | 418.01 |
| Debt / Equity Ratio | 0.06 | 0.52 | 1.04 | 1.22 | 1.75 | 1.09 |
| Debt / EBITDA Ratio | 0.26 | 4.22 | 41.81 | |||
| Debt / FCF Ratio | 0.17 | 1.78 | 4.19 | 8.46 | 28.77 | 54.86 |
| Net Debt / Equity Ratio | -0.13 | -0.13 | 0.18 | 0.50 | 0.71 | 0.34 |
| Net Debt / EBITDA Ratio | -0.60 | -1.17 | 20.86 | -5.90 | -4.61 | -4.57 |
| Net Debt / FCF Ratio | -0.36 | -0.45 | 0.73 | 3.44 | 11.72 | 17.13 |
| Asset Turnover | 0.72 | 0.62 | 0.56 | 0.49 | 0.41 | 0.36 |
| Quick Ratio | 0.81 | 0.91 | 1.25 | 1.96 | 2.55 | 2.83 |
| Current Ratio | 1.01 | 1.02 | 1.40 | 2.23 | 2.77 | 3.10 |
| Return on Equity (ROE) | 17.20% | 8.82% | -7.98% | -15.07% | -22.03% | -18.58% |
| Return on Assets (ROA) | 5.57% | 2.03% | -2.12% | -4.21% | -4.74% | -3.36% |
| Return on Invested Capital (ROIC) | 17.77% | 6.69% | -6.59% | -12.40% | -13.99% | -10.25% |
| Return on Capital Employed (ROCE) | 14.90% | 5.70% | -4.70% | -8.50% | -8.90% | -6.20% |
| Earnings Yield | 2.53% | 1.15% | -0.63% | -2.57% | -7.05% | -2.50% |
| FCF Yield | 5.62% | 4.31% | 2.12% | 2.54% | 1.64% | 0.25% |
| Buyback Yield / Dilution | -2.58% | -8.34% | -3.00% | -1.84% | -1.61% | -8.41% |