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Dec 31, 2019
Q2 Q4 2019 Earnings Report
Announced fourth quarter and full-year 2019 financial results.
Key Takeaways
Q2 Holdings reported revenue of $86.84 million, a 29% increase year-over-year. The company's non-GAAP gross margin was 56.8%, and adjusted EBITDA reached $10.6 million. They ended the year with over $1 billion in committed backlog.
Signed Two Tier 1 banks to digital banking contracts, including a Top 50 Bank in the United States.
Signed a major alternative lender in North America to a Cloud Lending contract, the largest Cloud Lending deal in company history.
Signed Two Tier 1 banks to PrecisionLender contracts, including a Top 5 Canadian Bank and a $15 billion bank in the Southeast.
Exited the fourth quarter with approximately 14.6 million registered users on the Q2 platform, representing 14 percent year-over-year and 4 percent sequential growth from the third quarter.
Q2
Q2
Forward Guidance
Q2 Holdings is providing guidance for its first quarter of 2020 and full year 2020. For the first quarter, they anticipate non-GAAP revenue between $92.0 million and $94.0 million and an adjusted EBITDA between negative $3.0 million and negative $2.0 million. For the full year, they expect non-GAAP revenue between $412.0 million and $416.0 million and adjusted EBITDA between $16.0 million and $19.0 million.
Positive Outlook
- Total Non-GAAP revenue of $92.0 million to $94.0 million, which would represent year-over-year growth of 29 percent to 32 percent.
- Adjusted EBITDA of negative $3.0 million to negative $2.0 million.
- Total Non-GAAP revenue of $412.0 million to $416.0 million, which would represent year-over-year growth of 30 percent to 31 percent.
- Adjusted EBITDA of $16.0 million to $19.0 million.