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Q2 Holdings Inc. (QTWO-2.33%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $696.5 million for the year, an increase from $624.6 million in the previous year. The growth was primarily driven by an increase in subscription revenue and transactional revenue.
Cost of revenues for the year was $342.0 million, up from $322.0 million in the prior year, due to increased personnel costs and infrastructure expenses to support customer growth.
Operating expenses totaled $396.7 million, a slight increase from $388.7 million in 2023, with research and development expenses rising to support product enhancements.
The company reported a net loss of $38.5 million for the year, an improvement from the $65.4 million loss in 2023, attributed to higher revenues and controlled operating expenses.
Q2 Holdings ended the year with $446.6 million in cash, cash equivalents, and investments, providing liquidity to support ongoing operations.
The company continues to focus on expanding its customer base and enhancing its digital banking platform, with plans to invest in sales, marketing, and research and development.
Q2 Holdings did not declare or pay any cash dividends on its common stock, as it continues to reinvest in business growth.
The company acknowledges risks related to cybersecurity, economic conditions, and competition, which could impact future performance.
Q2 Holdings' management believes that its financial position and strategic investments will support future growth and operational efficiency.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Q2 Holdings Inc. annual 10-K report dated February 12, 2025. To report an error, please email earnings@qz.com.