Loading...
•
Sep 30, 2020
Q2 Q3 2020 Earnings Report
Q2 Holdings announced third quarter results, demonstrating revenue growth and strategic expansions.
Key Takeaways
Q2 Holdings reported a solid third quarter with revenue of $103.8 million, up 30% year-over-year. The company saw growth in registered users and exceeded guidance for non-GAAP revenue and adjusted EBITDA.
Launched treasury onboarding solution and cross-sold to a top-50 enterprise bank.
Signed a loan pricing solution agreement with a Tier 1, $12 billion financial institution.
Signed an Enterprise contract with a top-10 global financial institution for the Q2 CardSwap solution.
Ended the quarter with approximately 17.1 million registered users on the Q2 Platform, a 21% year-over-year increase.
Forward Guidance
Q2 Holdings provided guidance for its fourth quarter of 2020 and revised guidance for its full-year 2020.
Positive Outlook
- Total Non-GAAP revenue of $105.0 million to $107.0 million for Q4 2020, representing year-over-year growth of 18 percent to 21 percent.
- Adjusted EBITDA of $4.9 million to $6.9 million for Q4 2020.
- Total Non-GAAP revenue of $402.5 million to $404.5 million for full year 2020, representing year-over-year growth of 27 percent.
- Adjusted EBITDA of $21.0 million to $23.0 million for full year 2020, representing 5 percent to 6 percent of non-GAAP revenue.
- Anticipated impacts of the COVID-19 pandemic on Q2 Holdings’ operations and financial results are considered in the guidance.
Challenges Ahead
- Q2 Holdings is unable to predict with reasonable certainty the ultimate outcome of the exclusions without unreasonable effort.
- Q2 Holdings has not provided guidance for GAAP net loss or a reconciliation of the foregoing forward-looking adjusted EBITDA guidance to GAAP net loss.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...