Q2 Holdings Inc (QTWO) financials
Q2 revenue and earnings by year
Q2's revenue was $795 million in the fiscal year to December 31, 2025, up 14.1% from the year before. Net income was $52.0 million, 6.5% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 20.3% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 795 | 696 | 625 | 566 | 499 | 403 | 315 | 241 | 194 | 150 |
| Revenue growth | 14.1% | 11.5% | 10.4% | 13.4% | 23.8% | 27.7% | 30.9% | 24.3% | 29.1% | — |
| Gross profit | 430 | 354 | 303 | 256 | 225 | 175 | 153 | 119 | 94 | 73 |
| Gross margin | 54.1% | 50.9% | 48.5% | 45.3% | 45.1% | 43.4% | 48.5% | 49.5% | 48.7% | 48.5% |
| Operating income | 40 | -42 | -86 | -105 | -78 | -100 | -67 | -32 | -27 | -36 |
| Operating margin | 5.0% | -6.1% | -13.8% | -18.5% | -15.6% | -24.8% | -21.2% | -13.2% | -13.9% | -23.8% |
| Net income | 52 | -39 | -65 | -109 | -113 | -138 | -71 | -35 | -26 | -36 |
| Net margin | 6.5% | -5.5% | -10.5% | -19.3% | -22.6% | -34.2% | -22.5% | -14.7% | -13.5% | -24.2% |
| Diluted EPS | $0.80 | -$0.64 | -$1.12 | -$1.90 | -$2.00 | -$2.66 | -$1.54 | -$0.83 | -$0.63 | -$0.93 |
| Free cash flow | 173 | 107 | 40 | 7 | 5 | -28 | -13 | -9 | -4 | -14 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open QTWO in Markets.
How Q2 makes money
Revenue by segment in the quarter to September 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Subscriptions | $188M | 83.3% |
| Product & Service Other | $19.6M | 8.7% |
| Transactional Services | $18.1M | 8.0% |
See also: QTWO valuation and P/E history · QTWO returns
No forecast, no recommendation. This page describes Q2 Holdings Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.