Q2 Holdings, Inc. income statement
In fiscal 2025, Q2 Holdings, Inc. reported revenue of $795m, up 14.1% on the year before, operating income of $39.9m (a 5.0% margin) and net income of $52.0m, or $0.80 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 41 | 57 | 79 | 109 | 150 | 194 | 241 | 315 | 403 | 499 | 566 | 625 | 696 | 795 | 870 |
| Cost of revenue | 25 | 36 | 46 | 59 | 77 | 99 | 122 | 162 | 228 | 274 | 309 | 322 | 342 | 365 | 362 |
| Gross profit | 16 | 21 | 33 | 50 | 73 | 94 | 119 | 153 | 175 | 225 | 256 | 303 | 354 | 430 | 508 |
| Research and development | 5 | 9 | 12 | 22 | 32 | 40 | 51 | 76 | 97 | 117 | 130 | 137 | 143 | 154 | 165 |
| Selling and marketing | 9 | 17 | 23 | 27 | 36 | 41 | 48 | 64 | 72 | 86 | 108 | 110 | 106 | 106 | 102 |
| General and administrative | 9 | 12 | 17 | 23 | 32 | 37 | 45 | 57 | 71 | 78 | 90 | 110 | 123 | 126 | 129 |
| Operating income | −7 | −17 | −19 | −25 | −36 | −27 | −32 | −67 | −100 | −78 | −105 | −86 | −42 | 40 | 108 |
| Interest expense | — | — | — | — | — | — | — | — | — | — | — | 5 | 5 | 5 | 3 |
| Provision for credit losses | — | — | — | — | — | — | — | — | 0 | 0 | 0 | 0 | 0 | — | — |
| Income before tax | −7 | −18 | −20 | −25 | −36 | −26 | −39 | −83 | −136 | −111 | −106 | −62 | −31 | 55 | 117 |
| Income tax | 0 | 0 | 0 | 0 | 0 | −0 | −4 | −12 | 1 | 2 | 3 | 4 | 8 | 3 | 6 |
| Net income | −9 | −18 | −20 | −25 | −36 | −26 | −35 | −71 | −138 | −113 | −109 | −65 | −39 | 52 | 110 |
| Diluted EPS | −$0.77 | −$1.51 | −$0.67 | −$0.67 | −$0.92 | −$0.63 | −$0.83 | −$1.53 | −$2.65 | −$2.00 | −$1.90 | −$1.12 | −$0.64 | $0.80 | $1.74 |
| Diluted shares (average) | 11m | 12m | 29m | 37m | 40m | 41m | 43m | 46m | 52m | 56m | 57m | 58m | 60m | 65m | 63m |
| EBITDA | −5 | −14 | −15 | −18 | −24 | −12 | −15 | −38 | −48 | −23 | −43 | −14 | 27 | 93 | 157 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 183 | 190 | 195 | 202 | 208 | 217 | 220 | 226 |
| Cost of revenue | 87 | 89 | 91 | 93 | 93 | 89 | 90 | 91 |
| Gross profit | 96 | 101 | 105 | 109 | 115 | 128 | 130 | 135 |
| Research and development | 36 | 38 | 37 | 39 | 41 | 42 | 41 | 41 |
| Selling and marketing | 27 | 27 | 27 | 26 | 26 | 26 | 26 | 25 |
| General and administrative | 30 | 32 | 31 | 32 | 30 | 32 | 33 | 34 |
| Operating income | −2 | 2 | 10 | 11 | 17 | 28 | 29 | 34 |
| Interest expense | — | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Provision for credit losses | 0 | 0 | 0 | 0 | — | — | — | — |
| Income before tax | 2 | 5 | 13 | 15 | 21 | 30 | 32 | 34 |
| Income tax | 2 | 0 | 2 | 0 | 0 | 3 | 2 | 1 |
| Net income | 0 | 5 | 12 | 15 | 20 | 27 | 30 | 33 |
| Diluted EPS | $0.01 | $0.07 | $0.18 | $0.23 | $0.31 | $0.40 | $0.46 | $0.52 |
| EBITDA | 14 | 16 | 23 | 25 | 29 | 39 | 41 | 46 |
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