Q2 Holdings, Inc. Announces Fourth Quarter and Full-Year 2019 Financial Results
Summary
AUSTIN, Texas--(BUSINESS WIRE)--Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital transformation solutions for banking and lending, today announced results for its fourth quarter ending Dec. 31, 2019. As we look to 2020, I’m confident that our performance and broad solutions portfolio position us as a leader in digital transformation for global financial services.” “ We finished the year with solid execution and successfully closed on the acquisition of PrecisionLender," said Jennifer Harris, CFO of Q2. Adjusted EBITDA differs from GAAP net loss in that it excludes items such as depreciation and amortization, stock-based compensation, acquisition-related costs, interest, income taxes, unoccupied lease charges and the impact to deferred revenue from purchase accounting. Our bank and credit union customers, along with emerging financial services providers, also benefit from actionable data analytics and access to open technology tools. This press release contains forward-looking statements, including statements about positive sales and bookings momentum, the benefits of the PrecisionLender acquisition and its ability to drive growth and increase Q2’s total addressable market, Q2’s committed backlog, investments in innovation and integration, expectations regarding increased operating leverage and a return to positive Adjusted EBITDA in the second half of 2020 and Q2’s quarterly and annual financial guidance.