Q2 Holdings, Inc. provides digital solutions to financial institutions, financial technology companies, FinTechs, and alternative finance companies (Alt-FIs) in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform that supports its financial institution customers in their delivery of retail, SMB, and commercial functionalities across digital channels; and risk and fraud solutions that are designed to support financial institutions' efforts to protect end users, comply with regulatory requirements and manage fraud risk efficiently. It also provides Q2 Innovation Studio, an application program interface and software development kit based open technology platform that allows financial institution customers, FinTechs, and other partners to deploy customized experiences and financial services to end users; and Helix, a cloud-native, real-time core processing platform that combines the services and functionality for companies and financial institutions. In addition, the company offers digital lending and relationship pricing solutions that support financial institutions, FinTechs and Alt-FIs in managing lending workflows, pricing strategies and customer relationships across commercial and consumer use cases, as well as offers loans, deposits and fee-based products. The company was formerly known as CBG Holdings, Inc. and changed its name to Q2 Holdings, Inc. in March 2013. Q2 Holdings, Inc. was founded in 2004 and is headquartered in Austin, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $795M | $114M | $52M | $173M | 7.9% | 14.1% | -235.0% |
| 2024 | $696M | $43M | $-39M | $107M | -7.4% | 11.5% | -41.1% |
| 2023 | $625M | $16M | $-65M | $40M | -14.6% | 10.4% | -40.0% |
| 2022 | $566M | $-38M | $-109M | $7M | -26.0% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 565.67 | 624.62 | 696.46 | 794.81 |
| Cost Of Revenue | - | 309.33 | 321.97 | 341.98 | 365.13 |
| Gross Profit | - | 256.35 | 302.65 | 354.48 | 429.68 |
| Operating Expense | - | 346.73 | 377.71 | 389.12 | 385.79 |
| Operating Income | - | -90.38 | -75.06 | -34.64 | 43.89 |
| EBITDA | - | -37.74 | 15.62 | 42.89 | 113.56 |
| EBIT | - | -99.40 | -56.09 | -25.92 | 60.13 |
| Pretax Income | - | -106.08 | -61.82 | -30.86 | 54.72 |
| Tax Provision | - | 2.91 | 3.56 | 7.68 | 2.72 |
| Net Income | - | -108.98 | -65.38 | -38.54 | 52.01 |
| Net Income Common Stockholders | - | -108.98 | -65.38 | -38.54 | 52.01 |
| Total Expenses | - | 656.06 | 699.68 | 731.10 | 750.92 |
| Interest Expense | - | 6.68 | 5.73 | 4.94 | 5.41 |
| Interest Income | - | 5.36 | 10.10 | 16.34 | 20.24 |
| Research And Development | - | 130.10 | 137.33 | 143.24 | 154.33 |
| Selling General And Administration | - | 198.38 | 219.71 | 228.89 | 231.37 |
| Normalized EBITDA | - | -23.36 | 6.75 | 50.52 | 117.55 |
| Normalized Income | - | -97.62 | -72.39 | -32.51 | 55.80 |
| Market Cap | 3,086.52 | 3,086.52 | 3,086.52 | 3,086.52 | 3,086.52 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Q2 Holdings, Inc.this co. | QTWO | $3.1B | 59.35β premium | 4.66 | 7.9% | 27.00 |
| Adeia Inc. | ADEA | $3.3B | 30.21 | 6.98 | 23.1% | 15.47 |
| NCR Atleos Corporation | NATL | $3.3B | 20.28 | 8.15 | 40.2% | 7.78 |
| Diebold Nixdorf, Incorporated | DBD | $3.2B | 31.51 | 2.71 | 8.6% | 10.50 |
| Photronics, Inc. | PLAB | $3.1B | 22.60 |
| - |
| - |
| - |
| - |
| - |
| 2.63 |
| 11.6% |
| 8.67 |
| Veeco Instruments Inc. | VECO | $3.1B | 88.28 | 3.53 | 4.0% | 47.02 |
| Sunrun Inc. | RUN | $2.9B | 6.67 | 0.96 | 14.4% | 31.05 |
| Calix, Inc. | CALX | $2.9B | 154.71 | 3.22 | 2.1% | 68.20 |
| Knowles Corporation | KN | $2.7B | 59.25 | 3.38 | 5.7% | 23.84 |
| Peer Median | - | 30.86 | 3.30 | 10.1% | 19.65 | |