Q2 Holdings, Inc. (QTWO) Financial Statements
Industry: Prepackaged Software (Services)
In fiscal 2025, Q2 reported revenue of $794.8M, up 14.1% from $696.5M the year before. Net income was $52.0M (a 6.5% net margin), or $0.80 per diluted share. Gross margin was 54.1% and operating margin was 5.0%. Operating activities generated $201.5M of cash, leaving $194.7M of free cash flow. At fiscal year end, Q2 held $1.28B in total assets against $614.5M in total liabilities, including $367.6M of cash and equivalents.
Open the full interactive Q2 financials → Quarterly statements, key ratios, valuation history and price charts.
Q2 Key Stats
| Share Price | $59.28 |
|---|---|
| Market Cap | $3.88B |
| P/E Ratio | 74.1 |
| Revenue YoY Growth | +14.1% |
| 52-Week Range | $42.09 – $75.49 |
| Shares Outstanding | 62.5 million (basic, 2026 Q2) |
Q2 Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $402.8M | $498.7M | $565.7M | $624.6M | $696.5M | $794.8M |
| Cost of Goods Sold | — | — | — | — | — | $365.1M |
| Gross Profit | $174.6M | $225.0M | $256.3M | $302.7M | $354.5M | $429.7M |
| Operating Income | -$99.8M | -$78.0M | -$104.8M | -$86.1M | -$42.3M | $39.9M |
| Pre-Tax Income | -$136.2M | -$111.1M | -$106.1M | -$61.8M | -$30.9M | $54.7M |
| Income Tax | $1.4M | $1.6M | $2.9M | $3.6M | $7.7M | $2.7M |
| Net Income | -$137.6M | -$112.7M | -$109.0M | -$65.4M | -$38.5M | $52.0M |
| Diluted EPS | -$2.65 | -$2.00 | -$1.90 | -$1.12 | -$0.64 | $0.80 |
Q2 Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $201.7M | $208.2M | $216.5M | $219.8M |
| Net Income | $15.0M | $20.4M | $26.6M | $29.9M |
| Diluted EPS | $0.23 | $0.31 | $0.40 | $0.46 |
Q2 Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $407.7M | $322.8M | $199.6M | $229.7M | $358.6M | $367.6M |
| Current Assets | $616.2M | $522.5M | $531.1M | $428.0M | $558.7M | $556.1M |
| Total Assets | $1.42B | $1.39B | $1.35B | $1.20B | $1.29B | $1.28B |
| Current Liabilities | $145.8M | $168.4M | $192.0M | $191.6M | $398.9M | $544.1M |
| Total Long-Term Debt | $557.5M | $551.6M | $668.7M | $490.5M | $492.4M | — |
| Total Liabilities | $773.3M | $814.7M | $930.7M | $752.9M | $777.0M | $614.5M |
| Shareholders' Equity | $643.4M | $570.3M | $419.0M | $448.5M | $517.8M | $661.8M |
Q2 Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$2.9M | $30.9M | $36.6M | $70.3M | $135.8M | $201.5M |
| Cash From Investing | -$124.2M | -$65.1M | -$165.6M | $113.3M | -$21.1M | -$4.0M |
| Cash From Financing | $434.7M | -$51.2M | $5.9M | -$152.0M | $13.3M | -$189.0M |
| Free Cash Flow | -$26.6M | $11.2M | $25.4M | $64.6M | $129.1M | $194.7M |
Figures from Q2's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Q2 financials page for every line item.
Q2 Company Profile
| Ticker | QTWO |
|---|---|
| Exchange | NYSE |
| Industry | Prepackaged Software (Services) |
| Headquarters | Austin, Texas |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001410384 |
Frequently Asked Questions
What was Q2's revenue in fiscal 2025?
Q2 (QTWO) reported revenue of $794.8M for fiscal 2025.
What is Q2's annual revenue history?
Q2's annual revenue by fiscal year: 2020: $402.8M; 2021: $498.7M; 2022: $565.7M; 2023: $624.6M; 2024: $696.5M; 2025: $794.8M.
What was Q2's net income in fiscal 2025?
Q2 reported net income of $52.0M for fiscal 2025.
What was Q2's earnings per share (EPS) in fiscal 2025?
Q2's diluted EPS was $0.80 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Q2 generate in fiscal 2025?
Q2 generated $194.7M of free cash flow in fiscal 2025.
What was Q2's revenue last quarter?
In its most recent reported quarter (2026 Q2), Q2 reported revenue of $219.8M.
How many shares of Q2 are outstanding?
Q2 reported a weighted average of 62.5 million basic shares outstanding in 2026 Q2.
What is Q2's market cap?
Based on its latest closing price, Q2 (QTWO) has a market capitalization of about $3.88B.
When does Q2's fiscal year end?
Q2's fiscal year end, as registered with the SEC, is December 31.
Where is Q2 headquartered?
Q2 lists its business address in Austin, Texas in its SEC filings.