Q2 Holdings Q1 revenue $153.0M (+14% YoY), adjusted EBITDA $16.5M; raises FY23 EBITDA guidance

Q2 Holdings is providing updated guidance for the full-year 2023 as follows: • Total non-GAAP revenue of $618.0 million to $630.0 million, which would represent year-over-year growth of 9 percent to 11 percent. • Adjusted EBITDA of $67.0 million to $71.0 million, representing 11 percent of non-GAAP revenue for the year.

Q2 Holdings is providing guidance for its second quarter of 2023 as follows: • Total non-GAAP revenue of $153.1 million to $155.1 million, which would represent year-over-year growth of 9 percent to 10 percent. • Adjusted EBITDA of $14.0 million to $16.0 million, representing 9 to 10 percent of non-GAAP revenue for the quarter.

GAAP Results for the First Quarter 2023 • Revenue for the first quarter of $153.0 million, up 14 percent year-over-year and up 4 percent from the fourth quarter of 2022. • GAAP gross margin for the first quarter of 47.9 percent, up from 45.1 percent in the prior-year quarter and 45.2 percent in the fourth quarter of 2022. • GAAP net loss for the first quarter of $0.5 million which included a one-time gain of $19.9 million from partial repurchase of convertible senior notes, compared to GAAP net losses of $23.6 million for the prior-year quarter and $32.4 million for the fourth quarter of 2022.