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Jun 30, 2023
Q2 Q2 2023 Earnings Report
Announced results for its second quarter ending June 30, 2023.
Key Takeaways
Q2 Holdings, Inc. reported revenue of $154.5 million, a 10% increase year-over-year. The company's adjusted EBITDA exceeded the high end of its guidance, driven by ongoing demand for higher margin subscription businesses and successful cost initiatives.
Signed two Tier 1 digital banking contracts.
Signed two Tier 1 digital lending contracts.
Signed a contract with one of the largest insurance companies in the nation to utilize our Helix platform.
Exited the second quarter with approximately 21.7 million registered users on the Q2 digital banking platform, representing 8 percent year-over-year growth and 1 percent sequential growth.
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Q2
Forward Guidance
Q2 Holdings is providing guidance for its third quarter of 2023 and updated guidance for its full-year 2023.
Positive Outlook
- Total non-GAAP revenue of $153.5 million to $156.5 million, which would represent year-over-year growth of 6 percent to 8 percent.
- Adjusted EBITDA of $17.0 million to $19.0 million, representing 11 to 12 percent of non-GAAP revenue for the quarter.
- Total non-GAAP revenue of $620.0 million to $628.0 million, which would represent year-over-year growth of 9 percent to 11 percent.
- Adjusted EBITDA of $71.0 million to $75.0 million, representing 11 to 12 percent of non-GAAP revenue for the year.