End of Quarter balance of cash, cash equivalents + investments3
$40.7M
$2.3B
Subscription Annualized
Recurring Revenue1
$189.7M 1
21%
Adjusted EBITDA1
Ending backlog as of March 31, 2025
5
Enterprise & Tier 1 Digital Banking and Relationship Pricing Wins2
REVENUE
Adjusted EBITDA margin1
1 For the first quarter ended March 31, 2025. 2 Number of contracts signed with customers above $5 billion in assets (Tier 1) and $50B in assets (Enterprise) collectively, to utilize our digital banking or relationship pricing platforms,
respectively, throughout the first quarter 2025. 3 As of March 31, 2025, excluding restricted cash from the calculation. 3
1st Quarter 2025 Results
1Q25
1Q24
Totals
Y/Y Change
Totals
Revenue
$189.7
15%
$165.5
Gross Profit
$101.0
23%
$82.3
Net Income
(Loss)
$4.8
NM
($13.8)
Gross Profit
$109.9
21%
$90.9
Adj EBITDA
$40.7
61%
$25.2
We delivered strong results to start the year with solid performance across the business.
GAAP
Our first quarter bookings performance was marked by significant renewals and expansion activity, demonstrating the enduring value of our solutions to our customers.
Non-GAAP
We believe the criticality of our technology, the breadth of our customer base, and our resilient business model-combined with a robust pipeline and strong renewal opportunity ahead - position us well to navigate and execute in the current market environment.
$ in millions
Matt Flake
4
Chairman & CEO
1st Quarter 2025 Highlights
New Customer Wins & Expansion Opportunities
Subscription ARR
Backlog
5 Tier 1 & Enterprise Wins in the Quarter
$702 million
Subscription Annualized
Recurring Revenue
$2.3 billion
Total Committed Backlog
Signed five Tier 1 and Enterprise contracts in the quarter highlighted by:
An expansion agreement with an existing Enterprise customer, a Top 50 US bank, utilizing our risk and fraud solutions.
A relationship pricing contract with a new Tier 1 customer.
+14% Y/Y
From $615 million in 1Q24
+20% Y/Y
Compared to 1Q24
Subscription Annualized Recurring Revenue increased to $702 million, up 14 percent year-over-year from
$615 million at the end of the first quarter of 2024.
Remaining Performance Obligation total, or Backlog, increased by $74 million sequentially, resulting in total committed Backlog of approximately
$2.3 billion at quarter-end, representing 3 percent sequential growth and 20 percent year-over-year growth.
See the "Customer Tiering" and Subscription Annualized Recurring Revenue (Subscription ARR) definitions in the Appendix to this presentation.
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Q2 Holdings Inc. published this content on May 07, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 07, 2025 at 22:18 UTC.
Q2 Holdings, Inc. is a provider of digital banking and lending solutions to financial institutions, financial technology companies, and alternative finance companies, and other companies or brands. The Companyâs portfolio of digital solutions includes Digital Banking Platform, Q2 Innovation Studio, Lending and Relationship Pricing, and Helix. Its end-to-end digital banking platform supports its financial institution customers in their delivery of retail, small to medium business and commercial functionalities across digital channels through a single technology platform. Q2 Innovation Studio is an application program interface based and software development kit based open technology platform. Its end-to-end digital lending portfolio allows its FinTech and Alt-FI customers to simplify the end-user experiences of borrowers, accelerate loan decisioning, and reduce operational inefficiencies. Helix is a cloud-native, real-time core processing platform.
