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Q2 Holdings (QTWO) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

TECHNOLOGY · SOFTWARE - APPLICATION · DATA UPDATED 2026-08-23

Q2 Holdings (QTWO) operates in the SOFTWARE - APPLICATION industry and is headquartered in Austin, United States with about 2,548 employees. Its market capitalization is roughly $4 billion. In the fiscal year ended 2025-12-31, QTWO reported $795M in revenue and $52M in net income.

Q2 Holdings, Inc. provides digital solutions to financial institutions, financial technology companies, FinTechs, and alternative finance companies (Alt-FIs) in the United States.

Interactive charts & full statements → Open the QTWO valuation workbench →

QTWO Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31
Total Revenue	$846M	$795M	$696M	$625M	$566M	$499M	$403M	$315M	$241M	$194M	$150M	$109M	$79M	$57M	$41M	$27M
Gross Profit	$482M	$430M	$354M	$303M	$256M	$225M	$175M	$153M	$119M	$94M	$73M	$50M	$33M	$21M	$16M	$12M
Gross Margin %	57.0%	54.0%	50.9%	48.4%	45.3%	45.1%	43.4%	48.5%	49.5%	48.7%	48.5%	45.7%	41.8%	36.2%	38.8%	45.2%
Operating Income (EBIT)	$87M	$46M	($42M)	($86M)	($105M)	($78M)	($100M)	($51M)	($32M)	($27M)	($36M)	($25M)	($19M)	($17M)	($7M)	($2M)
Operating Margin %	10.3%	5.7%	-6.1%	-13.8%	-18.5%	-15.6%	-24.8%	-16.1%	-13.2%	-13.9%	-23.8%	-22.8%	-24.1%	-30.1%	-17.3%	-6.2%
Net Income	$92M	$52M	($39M)	($65M)	($109M)	($113M)	($138M)	($71M)	($35M)	($26M)	($36M)	($25M)	($20M)	($18M)	($9M)	($3M)
Net Margin %	10.9%	6.5%	-5.5%	-10.5%	-19.3%	-22.6%	-34.2%	-22.5%	-14.7%	-13.5%	-24.2%	-23.0%	-24.8%	-31.4%	-21.4%	-11.2%
EBITDA	$145M	$130M	$43M	$29M	($38M)	($23M)	($56M)	($27M)	($12M)	($11M)	($23M)	($18M)	($15M)	($14M)	($5M)	($1M)
Earnings Per Share (EPS)	$1.36	$0.80	$-0.64	$-1.12	$-1.90	$-2.00	$-2.65	$-1.53	$-0.83	$-0.63	$-0.92	$-0.67	$-0.67	$-1.37	$-0.74	$-0.26
Shares Outstanding (M)	67M	65M	60M	58M	57M	56M	52M	46M	43M	41M	40M	37M	29M	13M	12M	12M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

QTWO Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$220M	$217M	$208M	$202M	$195M	$190M	$183M	$175M
Gross Profit	$130M	$128M	$115M	$109M	$105M	$101M	$96M	$89M
Gross Margin %	59.2%	59.1%	55.4%	54.0%	53.6%	53.2%	52.6%	50.9%
Operating Income (EBIT)	$29M	$28M	$18M	$11M	$10M	$2M	$1M	($13M)
Operating Margin %	13.4%	13.0%	8.8%	5.5%	5.0%	1.1%	0.4%	-7.3%
Net Income	$30M	$27M	$20M	$15M	$12M	$5M	$0M	($12M)
Net Margin %	13.6%	12.3%	9.8%	7.5%	6.0%	2.5%	0.1%	-6.7%
EBITDA	$41M	$50M	$29M	$25M	$28M	$20M	$19M	$9M
Earnings Per Share (EPS)	$0.45	$0.39	$0.30	$0.22	$0.17	$0.07	$0.00	$-0.20
Shares Outstanding (M)	67M	68M	68M	70M	70M	65M	65M	60M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

QTWO Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31
Cash from Operations (CFO)	$226M	$201M	$136M	$70M	$37M	$31M	($3M)	$1M	$5M	$9M	$3M	$5M	($5M)	($2M)	($3M)	($1M)
Capital Expenditures (CapEx)	$24M	$7M	$7M	$31M	$30M	$26M	$25M	$14M	$13M	$13M	$17M	$7M	$5M	$11M	$2M	$1M
Free Cash Flow (FCF)	$203M	$195M	$129M	$40M	$7M	$5M	($28M)	($14M)	($9M)	($4M)	($14M)	($2M)	($10M)	($13M)	($5M)	($2M)
FCF Margin %	23.9%	24.5%	18.5%	6.3%	1.1%	1.1%	-6.8%	-4.4%	-3.6%	-2.0%	-9.3%	-1.9%	-13.0%	-22.4%	-12.7%	-9.2%
Dividends Paid	—	—	—	—	—	—	$264M	$266M	—	$0M	$6M	$0M	$0M	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

QTWO Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$61M	$56M	$64M	$46M	$49M	$44M	$43M	$43M
Capital Expenditures (CapEx)	$2M	$7M	$7M	$8M	$4M	$6M	$6M	$8M
Free Cash Flow (FCF)	$59M	$50M	$57M	$37M	$45M	$38M	$37M	$35M
FCF Margin %	26.8%	23.0%	27.2%	18.5%	23.1%	19.9%	20.1%	20.1%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

QTWO Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31
Total Assets	$968M	$1.3B	$1.3B	$1.2B	$1.4B	$1.4B	$1.4B	$1.0B	$464M	$213M	$201M	$204M	$137M	$61M	$32M	$32M
Cash & Cash Equivalents	$100M	$368M	$359M	$230M	$200M	$323M	$408M	$100M	$108M	$58M	$55M	$67M	$68M	$19M	$9M	$15M
Total Liabilities	$325M	$614M	$777M	$753M	$931M	$815M	$773M	$630M	$305M	$106M	$101M	$86M	$58M	$55M	$51M	$43M
Total Debt (Short + Long-Term)	$9M	$313M	$505M	$503M	$680M	$561M	$564M	$434M	$183M	$0M	$0M	$0M	$1M	$8M	$3M	$0M
Total Shareholders' Equity	$643M	$662M	$518M	$448M	$419M	$570M	$643M	$379M	$159M	$107M	$100M	$118M	$79M	$6M	($19M)	($11M)

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive QTWO viewer.

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CCC · CCC Intelligent Solutions Holdings Inc. — $4 billion
FSLY · Fastly, Inc. Class A Common Stock — $4 billion
SRAD · Sportradar Group AG — $4 billion
LIF · Life360, Inc. Common Stock — $3 billion
FRSH · Freshworks Inc — $3 billion
KC · Kingsoft Cloud Holdings Ltd — $3 billion

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