QTWOMEDIUM SIGNALFINANCIAL10-K

Q2 Holdings delivered strong financial performance with meaningful revenue growth and substantially improved operating cash flow generation.

The company demonstrated robust operational execution with revenue growing 29% while maintaining healthy gross profit margins above 21%. The nearly 50% improvement in operating cash flow suggests improving working capital management and cash conversion efficiency, which should support future growth investments and capital allocation flexibility.

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

Q2 Holdings showed broad-based financial strength with revenue advancing 29% to $194M and gross profit expanding 21% to $430M. Operating cash flow grew notably to $202M, representing a meaningful improvement in cash generation. The balance sheet reflects mixed dynamics with stockholders' equity increasing 28% while total liabilities declined 21%, though current liabilities rose 36%, likely reflecting business growth and timing of working capital items.

FINANCIAL STATEMENT CHANGES
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.

Revenue
P&L
+29.1%
$150.2M$194.0M

Revenue growing 29.1% — solid top-line momentum, watch margins for quality of growth.

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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