Q2 Holdings Q4 revenue $183M (+13% YoY), GAAP net income turns positive; raises three-year targets

Q2 Holdings, Inc.

2024-FY EPS reported -$0.64 revenue$696,464,000

Q4 revenue $183.0M (+13% YoY); GAAP net income $0.2M vs loss of $18.1M YoY.
Adjusted EBITDA Q4 $37.6M (up from $23.2M YoY); full-year $125.3M (up from $76.9M).
Subscription ARR $682M (+15% YoY); backlog $2.2B (+21% YoY) with seven Tier 1/Enterprise deals in Q4.
Raised three-year targets: avg annual subscription revenue growth to 15%, EBITDA margin expansion 360bps, FCF conversion 85% by 2026.
Q1 2025 guidance: revenue $184-188M, adj EBITDA $36-39M; full-year 2025 revenue $772-779M.

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