Financials Q2 Holdings, Inc.

Equities

QTWO

US74736L1098

Software

Market Closed - Nyse Other stock markets 04:00:02 2025-07-16 pm EDT			5-day change	1st Jan Change
90.41 ^USD	+1.66%		-4.80%	-10.17%

Jun. 11	Q2 Holdings Insider Sold Shares Worth $323,626, According to a Recent SEC Filing	MT
May. 19	Koxa Treasury Gateway Platform Provides ERP Connectivity to Second Quarter Digital Banking Platform Customers	CI

Projected Income Statement: Q2 Holdings, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	402.8	498.7	565.7	624.6	696.5	781	864.2	960.3
Change	-	23.83%	13.42%	10.42%	11.5%	12.14%	10.65%	11.13%
EBITDA ¹	22.22	37.88	36.89	76.94	125.3	173.2	203	249.5
Change	-	70.46%	-2.6%	108.56%	62.9%	38.15%	17.26%	22.87%
EBIT ¹	9.868	23.44	16.4	49.66	95.46	138.5	167.4	207.1
Change	-	137.59%	-30.06%	202.86%	92.24%	45.09%	20.85%	23.72%
Interest Paid	-27.44	-31.6	-1.314	-	-	-	-	-
Earnings before Tax (EBT) ¹	-136.2	-111.1	-106.1	-61.82	-30.86	35.78	63.17	102.9
Change	-	18.43%	4.53%	41.72%	50.08%	215.95%	76.55%	62.88%
Net income ¹	-137.6	-112.7	-109	-65.38	-38.54	30.75	53.41	74.29
Change	-	18.07%	3.34%	40.01%	41.06%	179.81%	73.67%	39.09%
Announcement Date	2/17/21	2/15/22	2/21/23	2/21/24	2/12/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	97.58	103.8	109	116.5	123.6	126.7	131.9	134.1	140.3	144.8	146.5	153	154.5	155	162.1	165.5	172.9	175	183	189.7	193.6	194.8	202.9	209.5	214.1	216	225.2
Change	-	6.38%	4.99%	6.91%	6.05%	2.56%	4.07%	1.65%	4.65%	3.17%	1.24%	4.41%	1%	0.28%	4.61%	2.09%	4.46%	1.23%	4.58%	3.65%	2.02%	0.63%	4.16%	3.24%	2.21%	0.91%	4.21%
EBITDA ¹	8.084	8.135	6.108	9.888	9.866	7.304	10.82	8.058	9.663	10.82	8.35	16.47	17.63	19.66	23.18	25.23	29.87	32.61	37.62	40.71	42.67	43.28	46.53	47.79	49.83	50.6	54.79
Change	-	0.63%	-24.92%	61.89%	-0.22%	-25.97%	48.11%	-25.51%	19.92%	11.97%	-22.83%	97.27%	7.01%	11.52%	17.95%	8.83%	18.38%	9.17%	15.38%	8.2%	4.82%	1.43%	7.51%	2.71%	4.27%	1.54%	8.27%
EBIT ¹	5.013	4.956	2.865	6.652	6.552	3.563	6.678	3.299	4.583	5.648	2.867	10.12	10.92	12.59	16.03	18.08	22.48	25.32	29.58	32.7	33.41	34.7	37.79	38.64	39.04	40.96	44.8
Change	-	-1.14%	-42.19%	132.18%	-1.5%	-45.62%	87.43%	-50.6%	38.92%	23.24%	-49.24%	252.91%	7.96%	15.22%	27.39%	12.77%	24.3%	12.68%	16.82%	10.52%	2.17%	3.87%	8.92%	2.23%	1.04%	4.93%	9.38%
Charge d'intérêts	-6.599	-6.757	-7.618	-8.007	-10.01	-8.015	-7.08	-0.796	-1.098	-0.231	0.811	-1.321	0.526	1.011	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	-38.91	-26.6	-37.03	-25.52	-29.95	-30.99	-24.65	-22.2	-24.88	-27.32	-31.68	-0.498	-23.14	-22.16	-16.02	-12.29	-10.97	-9.537	1.936	5.24	7.545	7.825	13.67	14.24	13.15	14.59	21.19
Change	-	31.62%	-39.17%	31.08%	-17.36%	-3.47%	20.46%	9.95%	-12.11%	-9.81%	-15.94%	98.43%	-4,547.19%	4.24%	27.71%	23.3%	10.72%	13.07%	120.3%	170.66%	43.99%	3.71%	74.68%	4.18%	-7.64%	10.92%	45.23%
Net income ¹	-38.97	-26.72	-37.82	-25.66	-30.13	-31.58	-25.38	-23.56	-25.22	-27.79	-32.41	-0.516	-23.62	-23.17	-18.08	-13.84	-13.06	-11.8	0.164	4.753	6.382	6.567	11.59	12.34	11.24	12.4	18.22
Change	-	31.44%	-41.55%	32.17%	-17.43%	-4.83%	19.64%	7.18%	-7.06%	-10.19%	-16.62%	98.41%	-4,477.91%	1.93%	21.96%	23.43%	5.66%	9.67%	101.39%	2,798.17%	34.27%	2.9%	76.54%	6.41%	-8.85%	10.27%	46.97%
Announcement Date	8/5/20	11/4/20	2/17/21	5/5/21	8/4/21	11/3/21	2/15/22	5/2/22	8/3/22	11/7/22	2/21/23	5/9/23	8/2/23	11/1/23	2/21/24	5/1/24	7/31/24	11/6/24	2/12/25	5/7/25	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Q2 Holdings, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	14.9	121	222	162	43.6	-32.6	-235	-451
Change	-	712.08%	83.47%	-27.03%	-73.09%	-174.79%	-620.86%	-91.91%
Announcement Date	2/17/21	2/15/22	2/21/23	2/21/24	2/12/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Q2 Holdings, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	23.72	19.75	11.14	5.673	6.692	6.521	7.579	39.14
Change	-	-16.7%	-43.6%	-49.08%	17.96%	-2.55%	16.22%	416.38%
Free Cash Flow (FCF) ¹	-26.6	5.306	6.504	39.65	106.7	146.8	172.6	207.8
Change	-	119.94%	22.58%	509.61%	169.16%	37.6%	17.56%	20.35%
Announcement Date	2/17/21	2/15/22	2/21/23	2/21/24	2/12/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Q2 Holdings, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	5.52%	7.59%	6.52%	12.32%	18%	22.17%	23.5%	25.98%
EBIT Margin (%)	2.45%	4.7%	2.9%	7.95%	13.71%	17.73%	19.37%	21.56%
EBT Margin (%)	-33.82%	-22.28%	-18.75%	-9.9%	-4.43%	4.58%	7.31%	10.72%
Net margin (%)	-34.17%	-22.61%	-19.27%	-10.47%	-5.53%	3.94%	6.18%	7.74%
FCF margin (%)	-6.61%	1.06%	1.15%	6.35%	15.32%	18.8%	19.98%	21.64%
FCF / Net Income (%)	19.33%	-4.71%	-5.97%	-60.64%	-276.94%	477.48%	323.2%	279.66%
Profitability
ROA	0.36%	1.29%	-	-	-	8.16%	11.09%	12.79%
ROE	0.84%	2.98%	3.01%	11.63%	20.53%	22.49%	24.56%	22.3%
Financial Health
Leverage (Debt/EBITDA)	0.67x	3.19x	6.02x	2.11x	0.35x	-	-	-
Debt / Free cash flow	-0.56x	22.79x	34.15x	4.1x	0.41x	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	5.89%	3.96%	1.97%	0.91%	0.96%	0.83%	0.88%	4.08%
CAPEX / EBITDA (%)	106.73%	52.15%	30.2%	7.37%	5.34%	3.77%	3.73%	15.69%
CAPEX / FCF (%)	-89.14%	372.3%	171.31%	14.31%	6.27%	4.44%	4.39%	18.84%
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	11.58	10.02	7.258	7.768	8.526	10.48	14.63	19.66
Change	-	-13.48%	-27.55%	7.03%	9.76%	22.92%	39.57%	34.38%
EPS ¹	-2.65	-2	-1.9	-1.12	-0.64	0.485	0.8225	1.147
Change	-	24.53%	5%	41.05%	42.86%	175.78%	69.59%	39.41%
Nbr of stocks (in thousands)	53,883	56,817	57,517	58,635	60,401	62,304	62,304	62,304
Announcement Date	2/17/21	2/15/22	2/21/23	2/21/24	2/12/25	-	-	-