---
schema_version: "secwatch.filing_event.v1"
accession: "0001410384-23-000066"
form_type: "8-K"
ticker: "QTWO"
cik: "0001410384"
company_name: "Q2 Holdings, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T08:42:32.191567+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- GAAP net loss of $0.5M vs -$23.6M YoY; includes $19.9M gain from partial debt repurchase.
- Non-GAAP revenue $153.1M, up 14% YoY; adjusted EBITDA $16.5M, double $8.1M YoY.
- Signed three Tier 1 digital banking contracts; record digital banking bookings in quarter.
- Repurchased $171.3M of convertible notes due 2025/2026 for $149.1M cash.
- Q2 non-GAAP revenue guidance $153.1-155.1M; full-year revenue $618-630M; EBITDA guidance raised to $67-71M.

## SEC filing metadata
- accession: 0001410384-23-000066
- form_type: 8-K
- ticker: QTWO
- cik: 0001410384
- company_name: Q2 Holdings, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1410384/000141038423000066/0001410384-23-000066-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1410384/000141038423000066/qtwo-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001410384-23-000066
- JSON: https://secwatch.observer/filing/0001410384-23-000066.json
- Plain text: https://secwatch.observer/filing/0001410384-23-000066.txt

## Key facts
- Earnings Releases
  Q2 Holdings, Inc. reported full-year 2023 results: revenue $618.0 million to $630.0 million. Guidance raised.
  - Period: full-year 2023
  - Revenue: $618.0 million to $630.0 million
  - Guidance: raised
  - Result: guidance update
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1410384/000141038423000066/0001410384-23-000066-index.htm
- Earnings Releases
  Q2 Holdings, Inc. reported second quarter of 2023 results: revenue $153.1 million to $155.1 million. Guidance initiated.
  - Period: second quarter of 2023
  - Revenue: $153.1 million to $155.1 million
  - Guidance: initiated
  - Result: guidance update
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1410384/000141038423000066/0001410384-23-000066-index.htm
- Earnings Releases
  Q2 Holdings, Inc. reported first quarter ended March 31, 2023 results: revenue $153.0 million, net income $0.5 million.
  - Period: first quarter ended March 31, 2023
  - Revenue: $153.0 million
  - Net income: $0.5 million
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1410384/000141038423000066/0001410384-23-000066-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.