Q2 Holdings (QTWO) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Q2 Holdings published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Q2 Holdings reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Q2 Holdings reports one operating segment. The rows above are its revenue by major source, from the release.
• With the release, Q2 Holdings appointed CFO Jonathan Price as co-CEO alongside Matt Flake, effective October 29, 2026.

Source: Q2 Holdings Q3 2026 results, October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Q2 Holdings splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Q2 Holdings's Subscription revenue was $188 million in Q3 2026, up 14% from $165 million in Q3 2025, 83% of total revenue.
• Q2 Holdings's Transactional revenue was $18.1 million in Q3 2026, up 1% from $17.9 million in Q3 2025, 8% of total revenue.
• Q2 Holdings's Services and Other revenue was $19.6 million in Q3 2026, up 5% from $18.6 million in Q3 2025, 9% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

The first two quotes are Q2 Holdings' outlook for the fourth quarter of 2026; the last two are its updated full-year 2026 outlook. The fourth quote is copied exactly, including the release's typo.

In its Q3 2026 release, Q2 Holdings said:

“Total revenue of $226.0 million to $230.0 million, which would represent year-over-year growth of 9 to 10 percent.”

“Adjusted EBITDA of $62.4 million to $65.4 million, representing 28 percent of revenue for the quarter.”

“Total revenue of $888.0 million to $892.0 million, which would represent year-over-year growth of 12 percent.”

Source: Q2 Holdings Q3 2026 release, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the QTWO forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenues and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Q2 Holdings's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

Q2 Holdings had revenues of $225.8 million in Q3 2026, up 11.9% from $201.7 million. Subscription revenue was $188.2 million, transactional revenue from bill-pay and remote deposit products $18.1 million, and services and other $19.6 million. Subscription revenue grew 14%, and the 10-Q says the company expects it to keep rising as a percentage of total revenue. (Q2 Holdings Q3 2026 release (8-K Exhibit 99.1), Oct 28, 2026; Q2 Holdings Form 10-Q, Q3 2026, Oct 28, 2026)

Q2 Holdings sells a digital banking platform and risk and fraud solutions to banks and credit unions, mostly through direct sales, and its digital banking platform agreements have initial terms averaging over five years. It generally prices digital banking solutions by the number of solutions purchased and the number of Registered Users or commercial account holders. (Q2 Holdings Form 10-K, 2025, Feb 11, 2026)

Q2 Holdings' 10-Q attributes the revenue increase primarily to a $22.9 million rise in subscription revenue from selling additional solutions to new and existing customers and expansions, plus a $1.0 million rise in services and other revenue. Registered Users reached 28.5 million at September 30, 2026, against 27.0 million a year earlier, and no individual customer accounted for 10% or more of revenues. (Q2 Holdings Form 10-Q, Q3 2026, Oct 28, 2026)

Q2 Holdings signed seven Enterprise and Tier 1 contracts in the quarter, including a Tier 1 credit union and a Tier 1 bank for commercial digital banking. Subscription annualized recurring revenue rose 13.5% to $846.0 million, and remaining performance obligations were $2.77 billion at September 30, 2026. (Q2 Holdings Q3 2026 release (8-K Exhibit 99.1), Oct 28, 2026; Q2 Holdings Form 10-Q, Q3 2026, Oct 28, 2026)

Q2 Holdings earned GAAP net income of $33.2 million, or $0.52 per diluted share, in Q3 2026, against $15.0 million, or $0.23, a year earlier. Non-GAAP net income was $46.9 million, or $0.74 per diluted share. The adjustments add back stock-based compensation of $20.0 million, amortization of acquired technology of $4.3 million and lease and other restructuring charges of $1.4 million, less a tax adjustment of $12.1 million. (Q2 Holdings Q3 2026 release (8-K Exhibit 99.1), Oct 28, 2026)

Q2 Holdings' GAAP gross margin rose to 59.7% from 54.0%, and its GAAP operating income rose to $34.0 million from $11.0 million. Interest and other income fell to $917 thousand from $5.5 million. In the first nine months of 2026 Q2 Holdings paid $304.0 million for the maturity of its convertible notes and ended the quarter debt-free. (Q2 Holdings Q3 2026 release (8-K Exhibit 99.1), Oct 28, 2026; Q2 Holdings Form 10-Q, Q3 2026, Oct 28, 2026)

Q2 Holdings' diluted share count fell to 63,529 thousand from 69,858 thousand. It repurchased about 0.6 million shares in Q3 at an average price of about $61.27, for $38.8 million, and about 2.9 million shares for $158.9 million year to date, with about $336.1 million left under its authorization. (Q2 Holdings Q3 2026 release (8-K Exhibit 99.1), Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Q2 Holdings gives quarterly and full-year guidance in each release. For the fourth quarter of 2026 it expects total revenue of $226.0 million to $230.0 million and adjusted EBITDA of $62.4 million to $65.4 million. It raised its full-year 2026 guidance to revenue of $888.0 million to $892.0 million, about 12 percent growth, and adjusted EBITDA of $253.0 million to $256.0 million. (Q2 Holdings Q3 2026 release (8-K Exhibit 99.1), Oct 28, 2026)

Q2 Holdings does not give GAAP net income guidance or reconcile its adjusted EBITDA guidance to GAAP, because it cannot predict the excluded items with reasonable certainty. (Q2 Holdings Q3 2026 release (8-K Exhibit 99.1), Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover Q2 Holdings, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Q2 Holdings's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning QTWO is on is QTWO a buy or a sell?, what analysts expect next is on the QTWO forecast, and what the company does is on the Q2 Holdings (QTWO) stock page.

Every number on this page can be traced to a document Q2 Holdings published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.