Q2 Q2 2022 Earnings Report
Key Takeaways
Q2 Holdings, Inc. reported Q2 2022 financial results with revenue of $140.3 million, a 14% increase year-over-year. The company highlighted key wins across its business lines, including significant digital banking and lending deals. They are reiterating their full year guidance, while monitoring the uncertain economic backdrop.
Revenue for the second quarter was $140.3 million, up 14 percent year-over-year.
GAAP gross margin for the second quarter was 44.8 percent, consistent with the prior-year quarter.
GAAP net loss for the second quarter was $25.2 million, compared to $30.1 million for the prior-year quarter.
Adjusted EBITDA for the second quarter was $9.7 million, down from $9.9 million for the prior-year quarter.
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Forward Guidance
Q2 Holdings is providing guidance for its third quarter of 2022 and full-year 2022, which represents Q2 Holdings' current estimates on Q2 Holdings' operations and financial results.
Positive Outlook
- Total non-GAAP revenue of $145.8 million to $147.8 million for Q3 2022, which would represent year-over-year growth of 15 to 16 percent.
- Adjusted EBITDA of $6.2 million to $8.2 million for Q3 2022, representing 4 to 6 percent of non-GAAP revenue for the quarter.
- Total non-GAAP revenue of $577.5 million to $581.5 million for full year 2022, which would represent year-over-year growth of 15 percent to 16 percent.
- Adjusted EBITDA of $41.4 million to $44.4 million for full year 2022, representing 7 to 8 percent of non-GAAP revenue for the year.