Q2 Holdings Inc. (QTWO) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
10355 PECAN PARK BOULEVARD AUSTIN, TX 78729 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 7372 - Prepackaged Software (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 324,008 | 433,353 | 427,726 | 539,055 | 132,419 | 177,320 | |||
| Cash and cash equivalents | 229,655 | 199,600 | 322,848 | 407,703 | 100,094 | 108,341 | |||
| Short-term investments | 94,353 | 233,753 | 104,878 | 131,352 | 32,325 | 68,979 | |||
| Receivables | 50,299 | 52,535 | 51,779 | 38,530 | 26,742 | 22,868 | |||
| Contract with customer, asset, after allowance for credit loss | 9,193 | 8,909 | 1,845 | 1,088 | 872 | 598 | |||
| Capitalized contract cost | 8,994 | 8,444 | 7,648 | 6,555 | 4,951 | 3,359 | |||
| Other undisclosed current assets | 35,470 | 27,835 | 33,452 | 30,988 | 21,351 | 14,167 | |||
| Total current assets: | 427,964 | 531,076 | 522,450 | 616,216 | 186,335 | 218,312 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 35,453 | 39,837 | 52,278 | 34,709 | 35,388 | ✕ | |||
| Property, plant and equipment | 41,178 | 56,695 | 66,608 | 49,558 | 39,252 | 34,994 | |||
| Long-term investments and receivables | 100 | 200 | |||||||
| Long-term investments | 100 | 200 | |||||||
| Intangible assets, net (including goodwill) | 634,441 | 658,550 | 675,330 | 647,133 | 685,884 | 171,203 | |||
| Goodwill | 512,869 | 512,869 | 512,869 | 462,274 | 462,023 | 107,907 | |||
| Intangible assets, net (excluding goodwill) | 121,572 | 145,681 | 162,461 | 184,859 | 223,861 | 63,296 | |||
| Contract with customer, asset, after allowance for credit loss | 12,210 | 16,186 | 22,103 | 18,694 | 15,189 | 10,272 | |||
| Capitalized contract cost, net | 21,614 | 20,230 | 18,541 | 21,707 | 16,756 | 10,136 | |||
| Other noncurrent assets | 2,609 | 2,259 | 2,307 | 2,426 | 2,318 | 2,230 | |||
| Other undisclosed noncurrent assets | 25,856 | 24,693 | 25,428 | 26,259 | 28,312 | 16,573 | |||
| Total noncurrent assets: | 773,461 | 818,650 | 862,595 | 800,486 | 823,099 | 245,408 | |||
| TOTAL ASSETS: | 1,201,425 | 1,349,726 | 1,385,045 | 1,416,702 | 1,009,434 | 463,720 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 35,824 | 30,803 | 28,940 | 30,331 | 27,308 | 18,498 | |||
| Accounts payable | 19,353 | 10,055 | 10,597 | 7,887 | 10,967 | 9,169 | |||
| Accrued liabilities | 16,471 | 20,748 | 18,343 | 22,444 | 16,341 | 9,329 | |||
| Deferred revenue | 118,723 | 117,468 | 98,692 | 81,935 | 57,850 | ✕ | |||
| Debt | 10,903 | 9,140 | |||||||
| Deferred compensation liability | 26,580 | 23,460 | 31,725 | 26,716 | 38,668 | 12,652 | |||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 42,531 | ||
| Other undisclosed current liabilities | 10,436 | 9,408 | 9,001 | 6,844 | |||||
| Total current liabilities: | 191,563 | 192,042 | 168,358 | 145,826 | 132,966 | 73,681 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 490,464 | 657,789 | 612,972 | 594,207 | 460,863 | 182,723 | |||
| Long-term debt, excluding current maturities | 490,464 | 657,789 | 551,598 | 557,468 | 424,784 | 182,723 | |||
| Liabilities, other than long-term debt | 70,919 | 80,871 | 33,419 | 33,305 | 36,193 | 48,416 | |||
| Deferred revenue | 17,350 | 21,691 | 29,168 | 29,203 | 32,954 | ✕ | |||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 23,063 | ||
| Deferred rent credit | 8,151 | ||||||||
| Other liabilities | 7,981 | 6,189 | 4,251 | 4,102 | 3,239 | 17,202 | |||
| Operating lease, liability | 45,588 | 52,991 | 61,374 | 36,739 | 36,079 | ✕ | |||
| Total noncurrent liabilities: | 561,383 | 738,660 | 646,391 | 627,512 | 497,056 | 231,139 | |||
| Total liabilities: | 752,946 | 930,702 | 814,749 | 773,338 | 630,022 | 304,820 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 448,479 | 419,024 | 570,296 | 643,364 | 379,412 | 158,900 | |||
| Additional paid in capital | 1,075,278 | 982,300 | 1,064,358 | 1,024,577 | 622,692 | 331,355 | |||
| Accumulated other comprehensive income (loss) | (1,111) | (2,972) | (135) | (32) | 14 | (37) | |||
| Accumulated deficit | (625,694) | (560,310) | (493,933) | (381,187) | (243,299) | (172,422) | |||
| Other undisclosed equity, attributable to parent | 6 | 6 | 6 | 6 | 5 | 4 | |||
| Total equity: | 448,479 | 419,024 | 570,296 | 643,364 | 379,412 | 158,900 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,201,425 | 1,349,726 | 1,385,045 | 1,416,702 | 1,009,434 | 463,720 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 624,624 | 565,673 | 498,720 | 402,751 | 315,484 | 241,100 | ||
| Cost of revenue | (321,973) | (309,328) | (273,685) | (228,152) | (162,485) | (121,855) | ||
| Gross profit: | 302,651 | 256,345 | 225,035 | 174,599 | 152,999 | 119,245 | ||
| Operating expenses | (388,708) | (361,106) | (303,030) | (274,432) | (219,745) | (151,095) | ||
| Operating loss: | (86,057) | (104,761) | (77,995) | (99,833) | (66,746) | (31,850) | ||
| Nonoperating income (expense) | 24,235 | (1,314) | (33,108) | (36,371) | (16,618) | (7,350) | ||
| Investment income, nonoperating | 3,192 | 302 | (1,117) | (366) | (226) | 3 | ||
| Interest and debt expense | 19,869 | (1,513) | (1,977) | (1,467) | (829) | |||
| Loss from continuing operations before equity method investments, income taxes: | (41,953) | (106,075) | (112,616) | (138,181) | (84,831) | (40,029) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (19,869) | 1,513 | 1,977 | 1,467 | 829 | |||
| Loss from continuing operations before income taxes: | (61,822) | (106,075) | (111,103) | (136,204) | (83,364) | (39,200) | ||
| Income tax expense (benefit) | (3,562) | (2,908) | (1,643) | (1,416) | 12,487 | 3,803 | ||
| Loss from continuing operations: | (65,384) | (108,983) | (112,746) | (137,620) | (70,877) | (35,397) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (112,746) | (137,620) | (70,877) | (35,397) | |
| Net loss available to common stockholders, diluted: | (65,384) | (108,983) | (112,746) | (137,620) | (70,877) | (35,397) | ||
Comprehensive Income ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (65,384) | (108,983) | (112,746) | (137,620) | (70,877) | (35,397) | ||
| Comprehensive loss: | (65,384) | (108,983) | (112,746) | (137,620) | (70,877) | (35,397) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 1,861 | (2,837) | (103) | (46) | 51 | 102 | ||
| Comprehensive loss, net of tax, attributable to parent: | (63,523) | (111,820) | (112,849) | (137,666) | (70,826) | (35,295) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.