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Stocks · Technology · Services-Prepackaged Software

Q2 Holdings, Inc.

QTWO Clue Score62
United States Fiscal year ends December CIK 0001410384
$58.60 -0.15% Close, 9 Oct 2026
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Price $58.60 −20.60% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue150.2Operating income−35.7Net income−36.4Fiscal year 2017Revenue194.0 +29.1%Operating income−26.9Net income−26.2Fiscal year 2018Revenue241.1 +24.3%Operating income−31.9Net income−35.4Fiscal year 2019Revenue315.5 +30.9%Operating income−66.7Net income−70.9EPS, diluted−1.53Fiscal year 2020Revenue402.8 +27.7%Operating income−99.8Net income−137.6EPS, diluted−2.65Fiscal year 2021Revenue498.7 +23.8%Operating income−78.0Net income−112.7EPS, diluted−2.00Fiscal year 2022Revenue565.7 +13.4%Operating income−104.8Net income−109.0EPS, diluted−1.90Fiscal year 2023Revenue624.6 +10.4%Operating income−86.1Net income−65.4EPS, diluted−1.12Fiscal year 2024Revenue696.5 +11.5%Operating income−42.3Net income−38.5EPS, diluted−0.64Fiscal year 2025Revenue794.8 +14.1%Operating income39.9Net income52.0EPS, diluted0.80
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 150.2 194.0 241.1 315.5 402.8 498.7 565.7 624.6 696.5 794.8
Growth +29.1% +24.3% +30.9% +27.7% +23.8% +13.4% +10.4% +11.5% +14.1%
Operating income −35.7 −26.9 −31.9 −66.7 −99.8 −78.0 −104.8 −86.1 −42.3 39.9
Net income −36.4 −26.2 −35.4 −70.9 −137.6 −112.7 −109.0 −65.4 −38.5 52.0
Growth
EPS, diluted n/a n/a n/a −1.53 −2.65 −2.00 −1.90 −1.12 −0.64 0.80
Growth

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin48.5%Operating margin−23.8%Net margin−24.2%Free cash flow margin−7.3%Fiscal year 2017Gross margin48.7%Operating margin−13.9%Net margin−13.5%Free cash flow margin−1.5%Fiscal year 2018Gross margin49.5%Operating margin−13.2%Net margin−14.7%Free cash flow margin−3.6%Fiscal year 2019Gross margin48.5%Operating margin−21.2%Net margin−22.5%Free cash flow margin−4.2%Fiscal year 2020Gross margin43.4%Operating margin−24.8%Net margin−34.2%Free cash flow margin−6.6%Fiscal year 2021Gross margin45.1%Operating margin−15.6%Net margin−22.6%Free cash flow margin2.3%Fiscal year 2022Gross margin45.3%Operating margin−18.5%Net margin−19.3%Free cash flow margin4.5%Fiscal year 2023Gross margin48.5%Operating margin−13.8%Net margin−10.5%Free cash flow margin10.3%Fiscal year 2024Gross margin50.9%Operating margin−6.1%Net margin−5.5%Free cash flow margin18.5%Fiscal year 2025Gross margin54.1%Operating margin5.0%Net margin6.5%Free cash flow margin24.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 48.5% 48.7% 49.5% 48.5% 43.4% 45.1% 45.3% 48.5% 50.9% 54.1%
Operating margin −23.8% −13.9% −13.2% −21.2% −24.8% −15.6% −18.5% −13.8% −6.1% 5.0%
Net margin −24.2% −13.5% −14.7% −22.5% −34.2% −22.6% −19.3% −10.5% −5.5% 6.5%
Free cash flow margin −7.3% −1.5% −3.6% −4.2% −6.6% 2.3% 4.5% 10.3% 18.5% 24.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow3.4Capital expenditure−14.3Free cash flow−11.0Fiscal year 2017Operating cash flow9.5Capital expenditure−12.3Free cash flow−2.8Fiscal year 2018Operating cash flow4.6Capital expenditure−13.3Free cash flow−8.7Fiscal year 2019Operating cash flow0.6Capital expenditure−13.9Free cash flow−13.3Fiscal year 2020Operating cash flow−2.9Capital expenditure−23.7Free cash flow−26.7Fiscal year 2021Operating cash flow31.1Capital expenditure−19.8Free cash flow11.3Fiscal year 2022Operating cash flow36.6Capital expenditure−11.1Free cash flow25.4 +124.1%Fiscal year 2023Operating cash flow70.3Capital expenditure−5.7Free cash flow64.6 +154.3%Buybacks0.0Fiscal year 2024Operating cash flow135.8Capital expenditure−6.7Free cash flow129.1 +99.7%Buybacks0.0Fiscal year 2025Operating cash flow201.5Capital expenditure−6.8Free cash flow194.7 +50.8%Buybacks−5.0
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 3.4 9.5 4.6 0.6 −2.9 31.1 36.6 70.3 135.8 201.5
Capital expenditure −14.3 −12.3 −13.3 −13.9 −23.7 −19.8 −11.1 −5.7 −6.7 −6.8
Free cash flow −11.0 −2.8 −8.7 −13.3 −26.7 11.3 25.4 64.6 129.1 194.7
Growth +124.1% +154.3% +99.7% +50.8%
Buybacks n/a n/a n/a n/a n/a n/a n/a 0.0 0.0 −5.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash54.9Shareholders’ equity100.2Fiscal year 2017Cash58.0Shareholders’ equity106.6Fiscal year 2018Cash108.3Shareholders’ equity158.9Fiscal year 2019Cash100.1Shareholders’ equity379.4Fiscal year 2020Cash407.7Shareholders’ equity643.4Fiscal year 2021Cash322.8Shareholders’ equity570.3Fiscal year 2022Cash199.6Shareholders’ equity419.0Fiscal year 2023Cash229.7Shareholders’ equity448.5Fiscal year 2024Cash358.6Shareholders’ equity517.8Fiscal year 2025Cash367.6Shareholders’ equity661.8
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 54.9 58.0 108.3 100.1 407.7 322.8 199.6 229.7 358.6 367.6
Shareholders’ equity 100.2 106.6 158.9 379.4 643.4 570.3 419.0 448.5 517.8 661.8

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
48.5% 48.7% 49.5% 48.5% 43.4% 45.1% 45.3% 48.5% 50.9% 54.1%
−23.8% −13.9% −13.2% −21.2% −24.8% −15.6% −18.5% −13.8% −6.1% 5.0%
−23.9% −13.7% −16.3% −26.4% −33.8% −22.3% −18.8% −9.9% −4.4% 6.9%
−24.2% −13.5% −14.7% −22.5% −34.2% −22.6% −19.3% −10.5% −5.5% 6.5%
−7.3% −1.5% −3.6% −4.2% −6.6% 2.3% 4.5% 10.3% 18.5% 24.5%
Spending
21.6% 20.8% 21.3% 24.2% 24.2% 23.5% 23.0% 22.0% 20.6% 19.4%
21.3% 19.2% 18.7% 18.0% 17.6% 15.6% 15.9% 17.6% 17.7% 15.8%
9.6% 6.3% 5.5% 4.4% 5.9% 4.0% 2.0% 0.9% 1.0% 0.9%
n/a n/a n/a n/a n/a n/a n/a n/a n/a 5.0%
Returns
−36.3% −24.5% −22.3% −18.7% −21.4% −19.8% −26.0% −14.6% −7.4% 7.9%
−18.1% −12.3% −7.6% −7.0% −9.7% −8.1% −8.1% −5.4% −3.0% 4.1%
Balance and payout
50.1% 49.9% 65.7% 62.4% 54.6% 58.8% 69.0% 62.7% 60.0% 48.1%
n/a n/a n/a n/a n/a n/a n/a 0.0% 0.0% 2.6%