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NYSE · Technology

Q2 Holdings, Inc. (QTWO)

As-reported financials and SEC filings for Q2 Holdings, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Q2 Holdings, Inc.

Q2 Holdings, Inc. provides digital banking and financial technology solutions to financial institutions, FinTech companies, and alternative finance firms. Its cloud-based software platform offers services including digital banking, digital lending, risk and fraud management, and relationship pricing, serving retail, small to medium business, and commercial account holders. The company supports over 1,200 financial institution customers, including major U.S. banks and credit unions, facilitating digital financial transactions and customer engagement.

Snapshot

Revenue
$794.8M
Revenue growth (YoY)
14.1%
Net income
$52.0M
Diluted EPS
$0.80
Gross margin
54.1%
Operating margin
5.0%
Net margin
6.5%
FCF margin
24.5%
ROE
7.9%
net income / fiscal-year-end equity
P/E
45.9×
trailing when available, otherwise FY EPS
Market cap
$4.06B
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Q2 Holdings

  • Revenue grew 14.1% to $795M in FY2025, faster than the 11.5% the year before.
  • Operating margin turned positive at 5.0% in FY2025, from a 15.6% operating loss in FY2021.
  • Most recent quarter Q2 FY2026: revenue $220M, up 12.6% from Q2 FY2025.
  • Free cash flow was $195M in FY2025, 24.5% of revenue.
  • Net income turned positive at $52M in FY2025, from a $39M loss in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Q2 Holdings’s fundamentals sit among the 332 software companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin54.1%
32nd percentile of 264
Operating margin5.0%
60th percentile of 303
Net margin6.5%
61st percentile of 307
FCF margin24.5%
76th percentile of 285
Revenue growth (YoY)+14.1%
58th percentile of 325
ROE7.9%
60th percentile of 285
P/E45.9×
73rd percentile of 169
Short interest6.06d
80th percentile of 330

No reported insider purchases (code P) in the last 90 days; 3 insider sales totaling $5.9M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 5 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
2
+5 quant / multi-strat
Initiated / added
4
0 new, 4 added
Reduced / exited
5
3 trimmed, 2 exited
Combined position
$197.5M
reported long value
InvestorAs ofPosition valueSharesChange
Millennium ManagementquantQ2 2026$86.9M1.8MAdded
Two Sigma InvestmentsquantQ2 2026$57.9M1.2MAdded
D. E. ShawquantQ2 2026$21.6M449.7KReduced
AQR Capital ManagementquantQ2 2026$18.3M380.7KReduced
Renaissance TechnologiesquantQ2 2026$7.0M146.2KReduced
Gotham Asset ManagementQ2 2026$3.7M76.7KAdded
Bridgewater AssociatesQ2 2026$2.1M43.0KAdded

No longer held by: Citadel Advisors (as of Q2 2026), Point72 Asset Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
3
$5.9M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-13
filed 2026-08-14
Price JonathanChief Financial OfficerSell77.2K$65.71$5.1M
2026-08-10
filed 2026-08-12
Rutledge Kimberly AnneChief People OfficerSell10.0K$63.07$631K
2026-06-10
filed 2026-06-12
Coleman Kirk LChief Business OfficerSell3.6K$43.48$157K
2026-06-01
filed 2026-06-03
Coleman Kirk LChief Business OfficerSell20.9K$49.50$1.0M
2026-05-14
Kerr Michael SGeneral CounselSell397$44.98$18K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
4.7M
settled 2026-08-14
Change vs prior
+4.9%
vs previous settlement
Days to cover
6.06
at avg daily volume
Avg daily volume
783.6K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-144.7M+4.9%6.06
2026-07-314.5M+5.9%3.87
2026-07-154.3M-10.4%6.13
2026-06-304.8M+20.3%5.21
2026-06-154.0M+28.2%5.73
2026-05-293.1M+5.0%4.16
2026-05-152.9M+3.4%3.24
2026-04-302.8M+18.3%2.44

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$794.8M$696.5M$624.6M$565.7M$498.7M
Gross profit$429.7M$354.5M$302.7M$256.3M$225.0M
Operating income$39.9M$-42.3M$-86.1M$-104.8M$-78.0M
Net income$52.0M$-38.5M$-65.4M$-109.0M$-112.7M
Diluted EPS$0.80$-0.64$-1.12$-1.90$-2.00

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$367.6M$358.6M$229.7M$199.6M$322.8M
Current assets$556.1M$558.7M$428.0M$531.1M$522.5M
Total assets$1.28B$1.29B$1.20B$1.35B$1.39B
Current liabilities$544.1M$398.9M$191.6M$192.0M$168.4M
Long-term debt
Total liabilities$614.5M$777.0M$752.9M$930.7M$814.7M
Total equity$661.8M$517.8M$448.5M$419.0M$570.3M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$201.5M$135.8M$70.3M$36.6M$31.1M
Capital expenditure$6.8M$6.7M$5.7M$11.1M$19.8M
Free cash flow$194.7M$129.1M$64.6M$25.4M$11.3M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$219.8M12.6%$29.9M$0.46
Q1 FY2026$216.5M14.1%$26.6M$0.40
Q4 FY2025$208.2M13.8%$20.4M$0.31
Q3 FY2025$201.7M15.2%$15.0M$0.23
Q2 FY2025$195.1M12.9%$11.8M$0.18
Q1 FY2025$189.7M14.6%$4.8M$0.07
Q4 FY2024$183.0M12.9%$164,000$0.00
Q3 FY2024$175.0M12.9%$-11.8M$-0.20

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorTechnology
SIC industryServices-Prepackaged Software
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2018
SEC CIK1410384

Selected SEC filings

10-Q2026-07-29
View on EDGAR →
10-Q2026-04-29
View on EDGAR →
8-K2026-07-29
View on EDGAR →
8-K2026-06-12
View on EDGAR →
8-K2026-04-29
View on EDGAR →

Largest software peers

All software stocksAll Technology companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.