QTWOHIGH SIGNALFINANCIAL10-K

QTWO delivered exceptional financial turnaround with revenue surging 287% and swinging from $38.5M net loss to $52.0M profit while expanding solution portfolio to include risk and fraud capabilities.

This represents a dramatic operational transformation suggesting successful execution of growth strategy and achievement of operational leverage at scale. The company appears to have reached an inflection point where revenue growth is translating directly into profitability, indicating strong unit economics and market traction.

Comparing 2026-02-11 vs 2025-02-12View on EDGAR →
FINANCIAL ANALYSIS

QTWO demonstrated remarkable financial performance with revenue exploding 287% to $194M while achieving profitability turnaround from -$38.5M to +$52M net income and positive $39.9M operating income. Operating cash flow grew a solid 48% to $201.5M, stockholders equity increased 27.8% to $661.8M, and total liabilities decreased 20.9% despite higher current liabilities, indicating improved capital structure. The financial metrics collectively signal successful scaling of the business model with strong operational leverage and cash generation capability.

FINANCIAL STATEMENT CHANGES
Revenue
P&L
+287.1%
$50.1M$194.0M

Strong top-line growth of 287.1% — accelerating demand or successful expansion into new markets.

Net Income
P&L
+235%
-$38.5M$52.0M

Net income grew 235% — bottom-line growth signals improving overall business health.

Operating Income
P&L
+194.4%
-$42.3M$39.9M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Operating Cash Flow
Cash Flow
+48.4%
$135.8M$201.5M

Operating cash flow surged 48.4% — exceptional cash generation, highest quality earnings signal.

Current Liabilities
Balance Sheet
+36.4%
$398.9M$544.1M

Current liabilities surged 36.4% — significant near-term obligations; verify ability to meet short-term debt.

Stockholders Equity
Balance Sheet
+27.8%
$517.8M$661.8M

Equity base grew 27.8% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Accounts Receivable
Balance Sheet
+22.9%
$42.1M$51.7M

Receivables grew 22.9% — monitor days sales outstanding for collection efficiency.

Gross Profit
P&L
+21.2%
$354.5M$429.7M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Total Liabilities
Balance Sheet
-20.9%
$777.0M$614.5M

Liabilities reduced 20.9% — deleveraging improves balance sheet strength and financial flexibility.

LANGUAGE CHANGES
NEW — 2026-02-11
PRIOR — 2025-02-12
ADDED
There were 62,404,372 shares of the registrant's common stock outstanding as of January 31, 2026.
Our solutions transform the ways in which financial institutions and other financial services providers engage with account holders and retail and commercial End Users.
Digital financial services are highly regulated, subject to extensive and evolving supervisory, consumer protection, privacy and third party risk management requirements, and security is paramount, as providers must protect sensitive financial data and funds and defend against continually evolving cyber threats and fraud.
Providers must also manage significant technical and operational complexity to deliver consistent, compliant experiences across channels, devices and third party integrations while integrating with core systems, legacy infrastructure and multiple third party service providers, all while maintaining high availability and resiliency.
We deliver these solutions through a unified, cloud-based software platform purpose-built for the complex, regulated financial services industry, enabling scalable and highly configurable digital financial experiences.
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REMOVED
There were 60,727,986 shares of the registrant's common stock outstanding as of January 31, 2025.
Our solutions transform the ways in which financial institutions and other financial services providers engage with account holders and end users, or End Users.
Our solutions comprise a broad and deep portfolio of digital banking solutions, digital lending and relationship pricing solutions, Q2 Innovation Studio, and Helix.
Q2 Innovation Studio leverages Q2's open technology platform to enable a partnership ecosystem, allowing the design, development, and distribution of innovative products, services, features, and integrations on Q2's digital banking platform.
Helix serves as a cloud-native core and banking as a service, or BaaS, solution.
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