Q2 Q3 2021 Earnings Report
Key Takeaways
Q2 Holdings, Inc. reported a 22% year-over-year increase in revenue, reaching $126.7 million for the third quarter of 2021. The company's sales performance improved, with substantial growth in net new bookings and continued strength in expansion activity. Q2 is raising its guidance for both revenue and adjusted EBITDA for the remainder of the year.
Revenue for the third quarter reached $126.7 million, a 22% increase year-over-year.
GAAP gross margin increased to 45.0%, up from 44.7% in the prior-year quarter.
The company signed multiple Tier 1 banks and credit unions to digital banking contracts.
Q2 platform has approximately 19.2 million registered users, representing 12% year-over-year growth.
Q2
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Forward Guidance
Q2 Holdings is providing guidance for its fourth quarter of 2021 and revised guidance for its full-year 2021.
Positive Outlook
- Total non-GAAP revenue of $131.3 million to $132.8 million, which would represent year-over-year growth of 20 to 21 percent.
- Adjusted EBITDA of $7.3 million to $7.9 million.
- Total non-GAAP revenue of $499.8 million to $501.3 million, which would represent year-over-year growth of 23 percent.
- Adjusted EBITDA of $34.4 million to $35.0 million, representing 7 percent of non-GAAP revenue for the year.
- Based on strong performance in the third quarter and visibility into the fourth quarter, Q2 is raising its guidance for both revenue and adjusted EBITDA for the remainder of the year.