Q2 Holdings, Inc. (QTWO) Stock Analysis
Technology · Software - Application · NYSE
Q2 Holdings, Inc. (QTWO) posted $794.81M in revenue for fiscal 2025 (up 14.1% year over year), at a 6.5% net margin, and has compounded revenue about 14.6%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Q2 Holdings, Inc.
Q2 Holdings, Inc. has grown revenue from $150.22M to $794.81M over the last 10 fiscal years, compounding about 14.6% a year. The most recent year was up 14.1%, roughly in line with its longer-run pace.
Net margin sits at 6.5%, up 12 points year over year on a 54.1% gross margin.
At today's valuation the market is pricing in roughly 3% annual free-cash-flow growth. The one thing worth a second look in the filings is share count rising (dilution).
Synthesised from Q2 Holdings, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Q2 Holdings, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $150.22M | $193.98M | $241.10M | $315.48M | $402.75M | $498.72M | $565.67M | $624.62M | $696.46M | $794.81M |
| Gross profit | $72.80M | $94.49M | $119.25M | $153.00M | $174.60M | $225.03M | $256.35M | $302.65M | $354.48M | $429.68M |
| Net income | $-36.35M | $-26.16M | $-35.40M | $-70.88M | $-137.62M | $-112.75M | $-108.98M | $-65.38M | $-38.54M | $52.01M |
| Net margin | -24.2% | -13.5% | -14.7% | -22.5% | -34.2% | -22.6% | -19.3% | -10.5% | -5.5% | 6.5% |
Source: Q2 Holdings, Inc. SEC filings (10-K). 14 years of history available in the interactive view.
Q2 Holdings, Inc.: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Share count rising (dilution)Shares outstanding grew 10.2% over 4 years (56.9M → 62.7M) — existing holders' stakes are being diluted.
What growth is priced into QTWO stock?
At today's market cap of $2.76B, Q2 Holdings, Inc. is priced for free-cash-flow growth of about 3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $194.65M from the FY ending 2025-12-31). For comparison, revenue 14.6%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 14 years of Q2 Holdings, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Q2 Holdings, Inc. financial history by metric
Compare Q2 Holdings, Inc. with peers
About Q2 Holdings, Inc.
Q2 Holdings, Inc. provides digital solutions to financial institutions, financial technology companies, FinTechs, and alternative finance companies (Alt-FIs) in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform that supports its financial institution customers in their delivery of retail, SMB, and commercial functionalities across digital channels; and risk and fraud solutions that are designed to support financial institutions' efforts to protect end users, comply with regulatory requirements and manage fraud risk efficiently. It also provides Q2 Innovation Studio, an application program interface and software development kit based open technology platform that allows financial institution customers, FinTechs, and other partners to deploy customized experiences and financial services to end users; and Helix, a cloud-native, real-time core processing platform that combines the services and functionality for companies and financial institutions. In addition, the company offers digital lending and relationship pricing solutions that support financial institutions, FinTechs and Alt-FIs in managing lending workflows, pricing strategies and customer relationships across commercial and consumer use cases, as well as offers loans, deposits and fee-based products. The company was formerly known as CBG Holdings, Inc. and changed its name to Q2 Holdings, Inc. in March 2013. Q2 Holdings, Inc. was founded in 2004 and is headquartered in Austin, Texas.
Q2 Holdings, Inc. — frequently asked questions
What is Q2 Holdings, Inc.'s revenue?
Q2 Holdings, Inc. (QTWO) reported revenue of $794.81M for fiscal year 2025, up 14.1% from the prior year, according to its SEC filings.
Is Q2 Holdings, Inc. profitable?
Yes. QTWO earned net income of $52.01M in fiscal 2025, a net margin of 6.5%.
What is QTWO's P/E ratio?
Q2 Holdings, Inc. trades at a price-to-earnings ratio of about 39.1 based on the latest data in our nightly-refreshed cache.
How fast is Q2 Holdings, Inc. growing?
QTWO's revenue grew at roughly 14.6% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Q2 Holdings, Inc. have?
As of fiscal year 2025, QTWO carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Q2 Holdings, Inc.'s gross margin?
QTWO's gross margin was 54.1% in fiscal 2025 — gross profit of $429.68M on revenue of $794.81M.
What is Q2 Holdings, Inc.'s market cap?
Q2 Holdings, Inc. (QTWO) has a market capitalization of about $2.76B, based on the latest data in our nightly-refreshed cache.
When does Q2 Holdings, Inc.'s fiscal year end?
QTWO's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into QTWO stock?
At today's market cap of $2.76B, Q2 Holdings, Inc. is priced for free-cash-flow growth of about 3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $194.65M from the FY ending 2025-12-31). For comparison, revenue 14.6%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Q2 Holdings, Inc.'s official SEC filings (10-K and 10-Q), covering 14 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.