Q2 Holdings Inc

For the period ended Dec 31, 2023. Filed Feb 21, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 21, 2024

QTWO$75.33+1.5%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Comprehensive Loss

(in thousands, except per share data)

	Year Ended December 31,
	2023	2022	2021
Revenues	$624,624	$565,673	$498,720
Cost of revenues	321,973	309,328	273,685
Gross profit	302,651	256,345	225,035
Operating expenses:
Sales and marketing	109,522	108,214	85,564
Research and development	137,334	130,103	116,952
General and administrative	110,186	90,163	77,915
Transaction-related costs	24	1,176	2,690
Amortization of acquired intangibles	20,667	18,248	17,901
Lease and other restructuring charges	10,975	13,202	2,008
Total operating expenses	388,708	361,106	303,030
Loss from operations	(86,057)	(104,761)	(77,995)
Other income (expense):
Interest and other income	10,098	5,362	1,476
Interest and other expense	(5,732)	(6,676)	(33,071)
Gain (loss) on extinguishment of debt	19,869	—	(1,513)
Total other income (expense), net	24,235	(1,314)	(33,108)
Loss before income taxes	(61,822)	(106,075)	(111,103)
Provision for income taxes	(3,562)	(2,908)	(1,643)
Net loss	(65,384)	(108,983)	(112,746)
Other comprehensive income (loss):
Unrealized gain (loss) on available-for-sale investments	1,800	(1,873)	(213)
Foreign currency translation adjustment	61	(964)	110
Comprehensive loss	$(63,523)	$(111,820)	$(112,849)
Net loss per common share, basic and diluted	$(1.12)	$(1.90)	$(2.00)
Weighted average common shares outstanding:
Basic and diluted	58,354	57,300	56,394

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.