Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $150M | $194M | $241M | $315M | $403M | $499M | $566M | $625M | $696M | $795M |
| Revenue growth | — | 29.1% | 24.3% | 30.9% | 27.7% | 23.8% | 13.4% | 10.4% | 11.5% | 14.1% |
| Gross profit | $72.8M | $94.5M | $119M | $153M | $175M | $225M | $256M | $303M | $354M | $430M |
| Gross margin | 48.5% | 48.7% | 49.5% | 48.5% | 43.4% | 45.1% | 45.3% | 48.5% | 50.9% | 54.1% |
| Operating income | -$35.7M | -$26.9M | -$31.9M | -$66.7M | -$99.8M | -$78.0M | -$105M | -$86.1M | -$42.3M | $39.9M |
| Operating margin | -23.8% | -13.9% | -13.2% | -21.2% | -24.8% | -15.6% | -18.5% | -13.8% | -6.1% | 5.0% |
| Net income | -$36.4M | -$26.2M | -$35.4M | -$70.9M | -$138M | -$113M | -$109M | -$65.4M | -$38.5M | $52.0M |
| Net margin | -24.2% | -13.5% | -14.7% | -22.5% | -34.2% | -22.6% | -19.3% | -10.5% | -5.5% | 6.5% |
| EPS (diluted) | -$0.92 | -$0.63 | -$0.83 | -$1.53 | -$2.65 | -$2.00 | -$1.90 | -$1.12 | -$0.64 | $0.80 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.39M | $9.47M | $4.59M | $567K | -$2.94M | $31.1M | $36.6M | $70.3M | $136M | $201M |
| Capital expenditures | $14.3M | $12.3M | $13.3M | $13.9M | $23.7M | $19.8M | $11.1M | $5.67M | $6.69M | $6.81M |
| Free cash flow | -$11.0M | -$2.84M | -$8.69M | -$13.3M | -$26.7M | $11.3M | $25.4M | $64.6M | $129M | $195M |
| Share buybacks | — | — | — | — | — | — | — | $0.00 | $0.00 | $5.00M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $54.9M | $58.0M | $108M | $100M | $408M | $323M | $200M | $230M | $359M | $368M |
| Total assets | $201M | $213M | $464M | $1.01B | $1.42B | $1.39B | $1.35B | $1.20B | $1.29B | $1.28B |
| Total liabilities | $101M | $106M | $305M | $630M | $773M | $815M | $931M | $753M | $777M | $614M |
| Shareholders' equity | $100M | $107M | $159M | $379M | $643M | $570M | $419M | $448M | $518M | $662M |
| Retained earnings | -$126M | -$152M | -$172M | -$243M | -$381M | -$494M | -$560M | -$626M | -$664M | -$612M |
| Shares (wtd avg diluted) | 40.4M | 42.0M | 43.5M | 46.2M | 52.0M | 56.4M | 57.3M | 58.4M | 60.1M | 65.1M |
Every figure is extracted from Q2 Holdings, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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