Q2 Holdings, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $794.8M | $692.6M | $624.6M | $565.5M | $498.8M | $404.7M | $315.8M | $241.2M |
| Subscription and Services | — | $644.4M | $577.4M | $517.5M | $454.1M | $370.1M | $287.1M | $218.7M |
| Services and Other | — | $48.2M | $47.2M | $48.0M | $44.7M | $34.5M | $28.7M | $22.5M |
| Cost of Revenue | $365.1M | $342.0M | $322.0M | $309.3M | $273.7M | $228.2M | $162.5M | $121.9M |
| Gross Profit | $429.7M | $354.5M | $302.7M | $256.3M | $225.0M | $174.6M | $153.0M | $119.2M |
| Gross Margin | 54.1% | 51.2% | 48.5% | 45.3% | 45.1% | 43.1% | 48.4% | 49.4% |
| Operating Expenses | ||||||||
| Research & Development | $154.3M | $143.2M | $137.3M | $130.1M | $117.0M | $97.4M | $76.3M | $51.3M |
| SG&A Expense | $125.5M | $122.9M | $110.2M | $90.2M | $77.9M | $70.9M | $56.7M | $45.0M |
| Operating Income | $39.9M | $-42.3M | $-86.1M | $-104.8M | $-78.0M | $-99.8M | $-66.7M | $-31.9M |
| Operating Margin | 5.0% | -6.1% | -13.8% | -18.5% | -15.6% | -24.7% | -21.1% | -13.2% |
| Interest Expense | $2.8M | $2.7M | $2.5M | — | — | — | — | — |
| Pretax Income | $54.7M | $-30.9M | $-61.8M | $-106.1M | $-111.1M | $-136.2M | $-83.4M | $-39.2M |
| Income Tax Expense | $2.7M | $7.7M | $3.6M | $2.9M | $1.6M | $1.4M | $-12.5M | $-3.8M |
| Net Income | $52.0M | $-38.5M | $-65.4M | $-109.0M | $-112.7M | $-137.6M | $-70.9M | $-35.4M |
| Net Margin | 6.5% | -5.6% | -10.5% | -19.3% | -22.6% | -34.0% | -22.4% | -14.7% |
| EPS (Basic) | $0.84 | $-0.64 | $-1.12 | $-1.90 | $-2.00 | $-2.65 | $-1.53 | $-0.83 |
| EPS (Diluted) | $0.80 | $-0.64 | $-1.12 | $-1.90 | $-2.00 | $-2.65 | $-1.53 | $-0.83 |
| Shares Outstanding (Basic) | 62.2M | 60.1M | 58.4M | 57.3M | 56.4M | 52.0M | 46.2M | 43.5M |
| Shares Outstanding (Diluted) | 65.1M | 60.1M | 58.4M | 57.3M | 56.4M | 52.0M | 46.2M | 43.5M |
| Dividends Per Share | — | — | — | — | — | — | — | — |