Q2 Holdings, Inc. financials
Source: EDGAR filings · Built 2026-06-02T03:54:26Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 194.65M | 129.06M | 64.62M | 25.41M | 11.34M | -26.65M |
| EBITDA | 93.32M | 26.55M | -14.35M | -43.10M | -23.16M | -47.99M |
| Working Capital | 11.97M | 159.76M | 236.40M | 339.03M | 354.09M | 470.39M |
| Net Debt | -21.52M | 182.56M | 316.83M | 531.49M | 299.13M | 193.35M |
| Gross Margin | 54.06% | 50.90% | 48.45% | 45.32% | 45.12% | 43.35% |
| Operating Margin | 5.02% | -6.07% | -13.78% | -18.52% | -15.64% | -24.79% |
| Net Margin | 6.54% | -5.53% | -10.47% | -19.27% | -22.61% | -34.17% |
| Return on Equity (ROE) | 7.86% | -7.44% | -14.58% | -26.01% | -19.77% | -21.39% |
| Return on Assets (ROA) | 4.08% | -2.98% | -5.44% | -8.07% | -8.14% | -9.71% |
| Current Ratio | 1.02× | 1.40× | 2.23× | 2.77× | 3.10× | 4.23× |
| Debt-to-Equity | 0.52× | 1.04× | 1.22× | 1.74× | 1.09× | 0.93× |
| Effective Tax Rate | 4.96% | -24.87% | -5.76% | -2.74% | -1.48% | -1.04% |
| Cash Conversion Ratio | 3.87× | -3.52× | -1.08× | -0.34× | -0.28× | 0.02× |
| Accruals Ratio | -0.12× | -0.13× | -0.11× | -0.11× | -0.10× | -0.10× |
| SBC % of Revenue | 10.94% | 12.81% | 12.68% | 11.52% | 11.21% | 12.58% |
| CapEx Coverage | 29.58× | 20.29× | 12.39× | 3.28× | 1.57× | -0.12× |
| Free Cash Flow Per Share | $2.99 | $2.15 | $1.11 | $0.44 | $0.20 | $-0.51 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 90.20× | — | — | — | — | — |
| P/FCF | 24.14× | 46.88× | 39.20× | 60.59× | 395.22× | — |
| FCF Yield | 4.14% | 2.13% | 2.55% | 1.65% | 0.25% | — |
| EV / EBITDA | 48.28× | 237.13× | — | — | — | — |
| P/S | 5.70× | 8.78× | 4.10× | 2.74× | 9.07× | 17.46× |
| P/B | 6.84× | 11.80× | 5.71× | 3.70× | 7.93× | 10.93× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 794.81M | 696.46M | 624.62M | 565.67M | 498.72M | 402.75M |
| Cost of Goods and Services Sold | 365.13M | 341.98M | 321.97M | — | — | — |
| Cost of Revenue | — | 341.98M | 321.97M | 309.33M | 273.69M | 228.15M |
| Gross Profit | 429.68M | 354.48M | 302.65M | 256.35M | 225.03M | 174.60M |
| Research and Development Expense | 154.33M | 143.24M | 137.33M | 130.10M | 116.95M | 97.38M |
| Operating Expenses | 389.79M | 396.74M | 388.71M | 361.11M | 303.03M | 274.43M |
| Operating Income (Loss) | 39.90M | -42.26M | -86.06M | -104.76M | -78.00M | -99.83M |
| Income Tax Expense (Benefit) | 2.72M | 7.68M | 3.56M | 2.91M | 1.64M | 1.42M |
| Net Income (Loss) Attributable to Parent | 52.01M | -38.54M | -65.38M | -108.98M | -112.75M | -137.62M |
| Earnings Per Share, Basic | $0.84 | $-0.64 | $-1.12 | $-1.90 | $-2.00 | $-2.65 |
| Weighted Average Number of Shares Outstanding, Basic | 62.16M | 60.10M | 58.35M | 57.30M | 56.39M | 52.02M |
| Earnings Per Share, Diluted | $0.80 | $-0.64 | $-1.12 | $-1.90 | $-2.00 | $-2.65 |
| Weighted Average Number of Shares Outstanding, Diluted | 65.12M | 60.10M | 58.35M | 57.30M | 56.39M | 52.02M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 367.63M | 358.56M | 229.66M | 199.60M | 322.85M | 407.70M |
| Assets, Current | 556.05M | 558.66M | 427.96M | 531.08M | 522.45M | 616.22M |
| Assets | 1.28B | 1.29B | 1.20B | 1.35B | 1.39B | 1.42B |
| Liabilities, Current | 544.09M | 398.90M | 191.56M | 192.04M | 168.36M | 145.83M |
| Liabilities | 614.47M | 777.00M | 752.95M | 930.70M | 814.75M | 773.34M |
| Stockholders' Equity Attributable to Parent | 661.81M | 517.80M | 448.48M | 419.02M | 570.30M | 643.36M |
| Common Stock, Shares, Outstanding | 62.74M | 60.73M | 59.03M | 57.73M | 56.93M | 55.56M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 201.46M | 135.75M | 70.29M | 36.56M | 31.09M | -2.94M |
| Payments to Acquire Property, Plant, and Equipment | 6.81M | 6.69M | 5.67M | 11.14M | 19.75M | 23.71M |
| Net Cash Provided by (Used in) Investing Activities | -4.03M | -21.08M | 113.27M | -165.56M | -65.13M | -124.16M |
| Payments for Repurchase of Common Stock | 5.00M | 0 | 0 | — | — | — |
| Net Cash Provided by (Used in) Financing Activities | -188.97M | 13.32M | -152.01M | 5.88M | -51.16M | 434.68M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 49.72M | 61.70M | 132.95M | 90.08M | 42.75M | 41.60M |
| EBITDA | 39.43M | 29.40M | — | — | 15.91M | 14.41M |
| Working Capital | -37.91M | 11.97M | -24.38M | -72.53M | 186.62M | 159.76M |
| Net Debt | 1.57M | -21.52M | 66.69M | 125.05M | 155.14M | 182.56M |
| Gross Margin | 59.08% | 55.37% | 53.96% | 53.58% | 53.23% | 52.63% |
| Operating Margin | 12.79% | 8.10% | 5.46% | 5.04% | 1.15% | -0.86% |
| Net Margin | 12.30% | 9.82% | 7.46% | 6.03% | 2.51% | 0.09% |
| Return on Equity (ROE) | 4.36% | 3.09% | 2.42% | 2.01% | 0.87% | 0.03% |
| Return on Assets (ROA) | 2.14% | 1.60% | 1.05% | 0.85% | 0.35% | 0.01% |
| Current Ratio | 0.93× | 1.02× | 0.97× | 0.90× | 1.43× | 1.40× |
| Debt-to-Equity | 0.56× | 0.52× | 0.87× | 0.92× | 0.99× | 1.04× |
| Effective Tax Rate | 10.47% | 1.62% | 1.05% | 12.84% | 9.29% | 91.53% |
| Cash Conversion Ratio | 2.11× | 3.12× | 9.15× | 7.84× | 9.16× | 262.41× |
| Accruals Ratio | -0.02× | -0.03× | -0.09× | -0.06× | -0.03× | -0.03× |
| SBC % of Revenue | 9.36% | 9.69% | 33.10% | 22.30% | 11.07% | 10.79% |
| CapEx Coverage | 8.54× | 31.88× | 28.63× | 44.00× | 55.45× | 29.91× |
| Free Cash Flow Per Share | $0.74 | $0.95 | $1.90 | $1.29 | $0.66 | $0.69 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 42.23× | 91.34× | 147.73× | 1559.83× | — | — |
| P/S | 3.61× | 5.70× | 5.88× | 7.87× | 6.92× | 8.78× |
| P/B | 4.85× | 6.84× | 7.26× | 10.00× | 9.14× | 11.80× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 216.51M | 208.22M | 201.70M | 195.15M | 189.74M | 183.04M |
| Cost of Goods and Services Sold | 88.59M | 92.94M | 92.86M | 90.58M | 88.75M | 86.70M |
| Cost of Revenue | — | — | — | — | — | 86.70M |
| Gross Profit | 127.91M | 115.28M | 108.84M | 104.56M | 100.99M | 96.34M |
| Research and Development Expense | 41.88M | 40.63M | 38.93M | 36.91M | 37.85M | 35.72M |
| Operating Expenses | 100.22M | 98.42M | 97.84M | 94.72M | 98.80M | 97.92M |
| Operating Income (Loss) | 27.69M | 16.86M | 11.00M | 9.84M | 2.19M | -1.57M |
| Income Tax Expense (Benefit) | 3.11M | 337.00K | 160.00K | 1.73M | 487.00K | 1.77M |
| Net Income (Loss) Attributable to Parent | 26.64M | 20.44M | 15.05M | 11.76M | 4.75M | 164.00K |
| Earnings Per Share, Basic | $0.43 | $0.33 | $0.24 | $0.19 | $0.08 | $0.01 |
| Weighted Average Number of Shares Outstanding, Basic | 62.34M | 62.16M | 62.46M | 62.35M | 61.22M | 60.10M |
| Earnings Per Share, Diluted | $0.40 | $0.31 | $0.23 | $0.18 | $0.07 | $0.01 |
| Weighted Average Number of Shares Outstanding, Diluted | 67.65M | 65.12M | 69.86M | 69.64M | 64.82M | 60.10M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 342.33M | 367.63M | 472.39M | 414.27M | 383.90M | 358.56M |
| Assets, Current | 524.57M | 556.05M | 707.27M | 659.75M | 618.77M | 558.66M |
| Assets | 1.25B | 1.28B | 1.43B | 1.39B | 1.35B | 1.29B |
| Liabilities, Current | 562.49M | 544.09M | 731.65M | 732.28M | 432.16M | 398.90M |
| Liabilities | 634.67M | 614.47M | 803.82M | 801.08M | 804.40M | 777.00M |
| Stockholders' Equity Attributable to Parent | 611.68M | 661.81M | 622.88M | 584.34M | 545.46M | 517.80M |
| Common Stock, Shares, Outstanding | 62.66M | 62.74M | 62.51M | 62.44M | 62.30M | 60.73M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 56.32M | 63.70M | 137.76M | 92.17M | 43.53M | 43.03M |
| Payments to Acquire Property, Plant, and Equipment | 6.60M | 2.00M | 4.81M | 2.10M | 785.00K | 1.44M |
| Net Cash Provided by (Used in) Investing Activities | 16.38M | 24.31M | -28.34M | -41.62M | -19.50M | -6.45M |
| Payments for Repurchase of Common Stock | 97.15M | — | — | — | 0 | — |
| Net Cash Provided by (Used in) Financing Activities | -97.15M | -193.19M | 4.22M | 4.22M | 547.00K | 2.81M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (QTWO CIK 0001410384),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.