Q2 (QTWO) Financials

$81.42 +0.93 (+1.15%)

As of 11:24 AM Eastern

Annual Income Statements for Q2

This table shows Q2's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-25	-36	-26	-35	-71	-138	-113	-109	-65	-39
Consolidated Net Income / (Loss)	-25	-36	-26	-35	-71	-138	-113	-109	-65	-39
Net Income / (Loss) Continuing Operations	-25	-36	-26	-35	-71	-138	-113	-109	-65	-39
Total Pre-Tax Income	-25	-36	-26	-39	-83	-136	-111	-106	-62	-31
Total Operating Income	-25	-36	-27	-32	-67	-100	-78	-105	-86	-42
Total Gross Profit	50	73	94	119	153	175	225	256	303	354
Total Revenue	109	150	194	241	315	403	499	566	625	696
Operating Revenue	109	150	194	241	315	403	499	566	625	696
Total Cost of Revenue	59	77	99	122	162	228	274	309	322	342
Operating Cost of Revenue	59	77	99	122	162	228	274	309	322	342
Total Operating Expenses	75	109	121	151	220	274	303	361	389	397
Selling, General & Admin Expense	23	32	37	45	57	71	78	90	110	123
Marketing Expense	27	36	41	48	64	72	86	108	110	106
Research & Development Expense	22	32	40	51	76	97	117	130	137	143
Amortization Expense	0.58	1.47	1.48	1.84	6.34	18	18	18	21	17
Restructuring Charge	-	-	-	-	-	2.18	4.70	14	11	7.63
Total Other Income / (Expense), net	-0.00	-0.21	0.43	-7.35	-17	-36	-33	-1.31	24	11
Interest Expense	-	-	-	0.00	0.00	8.93	1.51	0.00	-20	0.00
Interest & Investment Income	0.28	0.36	0.55	2.81	3.67	1.21	1.48	5.36	10	16
Other Income / (Expense), net	-0.28	-0.57	-0.12	-10	-20	-29	-33	-6.68	-5.73	-4.94
Income Tax Expense	0.22	0.43	-0.31	-3.80	-12	1.42	1.64	2.91	3.56	7.68
Basic Earnings per Share	($0.67)	($0.92)	($0.63)	($0.83)	($1.53)	($2.65)	($2.00)	($1.90)	($1.12)	($0.64)
Weighted Average Basic Shares Outstanding	37.28M	39.65M	41.22M	42.80M	46.20M	52.02M	56.39M	57.30M	58.35M	60.11M
Diluted Earnings per Share	($0.67)	($0.92)	($0.63)	($0.83)	($1.53)	($2.65)	($2.00)	($1.90)	($1.12)	($0.64)
Weighted Average Diluted Shares Outstanding	37.28M	39.65M	41.22M	42.80M	46.20M	52.02M	56.39M	57.30M	58.35M	60.11M
Weighted Average Basic & Diluted Shares Outstanding	37.28M	39.65M	41.22M	42.80M	46.20M	52.02M	56.93M	57.74M	59.07M	60.73M

This table shows Q2's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-28	-32	-0.52	-24	-23	-18	-14	-13	-12	0.16
Consolidated Net Income / (Loss)	-28	-32	-0.52	-24	-23	-18	-14	-13	-12	0.16
Net Income / (Loss) Continuing Operations	-28	-32	-0.52	-24	-23	-18	-14	-13	-12	0.16
Total Pre-Tax Income	-27	-32	-0.50	-23	-22	-16	-12	-11	-9.54	1.94
Total Operating Income	-27	-32	-21	-24	-23	-18	-14	-14	-13	-1.58
Total Gross Profit	67	66	73	74	74	81	82	87	89	96
Total Revenue	145	147	153	155	155	162	166	173	175	183
Operating Revenue	145	147	153	155	155	162	166	173	175	183
Total Cost of Revenue	78	80	80	81	81	81	83	86	86	87
Operating Cost of Revenue	78	80	80	81	81	81	83	86	86	87
Total Operating Expenses	94	99	94	97	97	99	96	101	102	98
Selling, General & Admin Expense	23	24	25	27	28	30	30	31	31	30
Marketing Expense	28	29	28	29	26	27	25	28	26	27
Research & Development Expense	33	34	34	34	35	34	35	36	37	36
Amortization Expense	4.42	4.98	5.26	5.25	5.25	4.90	4.83	4.79	4.78	2.59
Restructuring Charge	5.85	7.47	1.97	2.32	3.31	3.40	1.13	0.97	3.13	2.41
Total Other Income / (Expense), net	-0.23	0.81	21	0.53	1.01	2.00	1.90	2.73	3.26	3.51
Interest & Investment Income	1.42	2.46	2.28	2.11	2.33	3.39	3.19	3.85	4.62	4.68
Other Income / (Expense), net	-1.65	-1.65	-1.44	-1.58	-1.32	-1.39	-1.29	-1.12	-1.35	-1.17
Income Tax Expense	0.47	0.74	0.02	0.48	1.01	2.06	1.56	2.09	2.26	1.77
Basic Earnings per Share	($0.48)	($0.57)	($0.01)	($0.41)	($0.40)	($0.30)	($0.23)	($0.22)	($0.20)	$0.01
Weighted Average Basic Shares Outstanding	57.36M	57.30M	57.89M	58.29M	58.49M	58.35M	59.45M	60.16M	60.31M	60.11M
Diluted Earnings per Share	($0.48)	($0.57)	($0.01)	($0.41)	($0.40)	($0.30)	($0.23)	($0.22)	($0.20)	$0.01
Weighted Average Diluted Shares Outstanding	57.36M	57.30M	57.89M	58.29M	58.49M	58.35M	59.45M	60.16M	60.31M	60.11M
Weighted Average Basic & Diluted Shares Outstanding	57.52M	57.74M	58.20M	58.45M	58.64M	59.07M	60.10M	60.28M	60.40M	60.73M

This table details how cash moves in and out of Q2's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-0.93	-12	4.09	50	-6.59	308	-85	-124	32	127
Net Cash From Operating Activities	5.40	3.39	9.47	4.60	0.57	-2.94	31	37	70	136
Net Cash From Continuing Operating Activities	5.40	3.39	9.47	4.60	0.57	-2.94	31	37	70	136
Net Income / (Loss) Continuing Operations	-25	-36	-26	-35	-71	-138	-113	-109	-65	-39
Consolidated Net Income / (Loss)	-25	-36	-26	-35	-71	-138	-113	-109	-65	-39
Depreciation Expense	6.85	12	15	17	28	52	55	62	72	69
Amortization Expense	5.42	7.30	7.80	17	30	47	53	26	25	28
Non-Cash Adjustments To Reconcile Net Income	7.40	13	21	24	36	59	56	76	68	94
Changes in Operating Assets and Liabilities, net	11	7.36	-8.08	-18	-24	-22	-20	-18	-29	-17
Net Cash From Investing Activities	-58	-17	-17	-171	-483	-124	-65	-166	113	-21
Net Cash From Continuing Investing Activities	-58	-17	-17	-171	-483	-124	-65	-166	113	-21
Purchase of Property, Plant & Equipment	-7.13	-15	-12	-13	-14	-24	-26	-30	-31	-29
Acquisitions	-28	-2.79	-4.79	-131	-506	-0.95	-65	-5.04	0.00	0.00
Purchase of Investments	-44	-40	-28	-76	-27	-131	-124	-293	-77	-96
Sale and/or Maturity of Investments	21	41	28	48	64	32	149	163	221	104
Net Cash From Financing Activities	52	0.94	12	217	476	435	-51	5.88	-152	13
Net Cash From Continuing Financing Activities	52	0.94	12	217	476	434	-51	5.88	-152	13
Repayment of Debt	-4.66	-5.05	-	-	0.00	0.00	-64	0.00	-161	-0.94
Other Financing Activities, net	4.17	6.00	12	-29	-26	127	32	5.88	8.54	14
Effect of Exchange Rate Changes	-	-	-	-	-	0.05	-0.17	-0.80	0.18	-0.83
Cash Interest Paid	0.21	0.22	0.07	0.81	2.85	4.10	3.10	2.89	2.65	2.68
Cash Income Taxes Paid	0.06	0.12	0.13	0.25	0.32	0.57	1.03	0.88	2.62	5.88

This table details how cash moves in and out of Q2's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-19	6.60	-78	-3.00	38	76	45	28	16	39
Net Cash From Operating Activities	6.51	44	3.89	13	17	37	13	36	43	43
Net Cash From Continuing Operating Activities	6.51	44	3.89	13	17	37	13	36	43	43
Net Income / (Loss) Continuing Operations	-28	-32	-0.52	-24	-23	-18	-14	-13	-12	0.16
Consolidated Net Income / (Loss)	-28	-32	-0.52	-24	-23	-18	-14	-13	-12	0.16
Depreciation Expense	15	16	18	18	18	18	18	18	18	16
Amortization Expense	6.55	6.11	5.59	6.19	6.22	6.76	6.54	7.13	6.85	7.31
Non-Cash Adjustments To Reconcile Net Income	22	23	0.97	23	25	20	22	25	28	20
Changes in Operating Assets and Liabilities, net	-9.92	31	-20	-10	-9.10	10	-19	-0.37	2.77	-0.06
Net Cash From Investing Activities	-25	-40	78	-20	21	35	23	-11	-27	-6.45
Net Cash From Continuing Investing Activities	-25	-40	78	-20	21	35	23	-11	-27	-6.45
Purchase of Property, Plant & Equipment	-10	-5.46	-7.08	-9.34	-7.47	-6.75	-7.42	-7.28	-8.15	-6.19
Purchase of Investments	-72	-79	-43	-27	-7.44	-0.05	-0.08	-33	-34	-28
Sale and/or Maturity of Investments	57	49	128	16	36	41	31	29	15	28
Net Cash From Financing Activities	0.45	2.63	-160	3.84	0.39	4.08	8.40	3.04	-0.94	2.81
Net Cash From Continuing Financing Activities	0.45	2.63	-160	3.84	0.39	4.08	8.40	3.04	-0.94	2.81
Other Financing Activities, net	0.45	2.63	0.23	3.84	0.39	4.08	8.40	3.04	-	2.81
Effect of Exchange Rate Changes	-0.36	0.14	0.06	0.22	-0.41	0.32	-0.19	-0.07	0.19	-0.76

This table presents Q2's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	204	201	213	464	1,009	1,417	1,385	1,350	1,201	1,295
Total Current Assets	133	126	131	218	186	616	522	531	428	559
Cash & Equivalents	67	55	58	108	100	408	323	200	230	359
Restricted Cash	2.12	1.32	2.32	1.82	3.47	3.48	2.97	2.30	3.98	2.23
Short-Term Investments	44	42	42	69	32	131	105	234	94	88
Accounts Receivable	9.01	12	13	20	22	36	47	47	43	42
Prepaid Expenses	3.06	3.22	3.12	3.98	6.35	8.86	11	11	12	24
Other Current Assets	8.41	12	13	16	22	28	34	38	45	44
Plant, Property, & Equipment, net	24	27	35	35	39	50	67	57	41	32
Total Noncurrent Assets	47	48	47	210	784	751	796	762	732	705
Goodwill	13	13	13	108	462	462	513	513	513	513
Intangible Assets	17	15	12	63	224	185	162	146	122	95
Other Noncurrent Operating Assets	17	20	22	39	98	104	121	103	98	97
Total Liabilities & Shareholders' Equity	204	201	213	464	1,009	1,417	1,385	1,350	1,201	1,295
Total Liabilities	86	101	106	305	630	773	815	931	753	777
Total Current Liabilities	46	59	68	74	133	146	168	192	192	399
Short-Term Debt	0.16	-	-	-	-	-	0.00	11	0.00	190
Accounts Payable	3.45	4.23	7.62	9.17	11	7.89	11	10	19	9.35
Accrued Expenses	11	8.82	11	9.33	16	22	18	21	16	18
Current Deferred Revenue	23	30	38	43	58	82	99	117	119	138
Current Employee Benefit Liabilities	7.71	16	12	13	39	27	32	23	27	33
Other Current Liabilities	-	-	-	0.00	9.14	6.84	9.00	9.41	10	10
Total Noncurrent Liabilities	41	42	38	231	497	628	646	739	561	378
Long-Term Debt	-	-	0.00	183	425	557	552	658	490	302
Noncurrent Deferred Revenue	37	41	38	31	33	29	29	22	17	27
Other Noncurrent Operating Liabilities	4.25	0.36	0.44	17	39	41	66	59	54	49
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	118	100	107	159	379	643	570	419	448	518
Total Preferred & Common Equity	118	100	107	159	379	643	570	419	448	518
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	118	100	107	159	379	643	570	419	448	518
Common Stock	208	226	260	331	623	1,025	1,064	982	1,075	1,184
Retained Earnings	-89	-126	-152	-172	-243	-381	-494	-560	-626	-664
Accumulated Other Comprehensive Income / (Loss)	-0.10	-0.05	-0.14	-0.04	0.01	-0.03	-0.14	-2.97	-1.11	-1.87

This table presents Q2's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	1,333	1,184	1,173	1,179	1,228	1,249	1,273
Total Current Assets	499	375	379	397	458	491	526
Cash & Equivalents	193	121	118	156	275	304	320
Restricted Cash	2.73	2.27	2.30	2.07	4.26	2.52	1.85
Short-Term Investments	203	150	162	135	64	68	88
Accounts Receivable	53	40	39	44	54	59	58
Prepaid Expenses	14	15	12	15	16	13	18
Other Current Assets	35	46	46	45	46	45	41
Plant, Property, & Equipment, net	59	53	48	45	38	35	34
Total Noncurrent Assets	775	756	745	738	732	722	712
Goodwill	513	513	513	513	513	513	513
Intangible Assets	146	140	135	128	115	108	101
Other Noncurrent Operating Assets	116	103	97	97	104	101	98
Total Liabilities & Shareholders' Equity	1,333	1,184	1,173	1,179	1,228	1,249	1,273
Total Liabilities	903	745	731	738	763	768	778
Total Current Liabilities	166	177	169	176	193	201	211
Accounts Payable	12	14	14	15	13	14	13
Accrued Expenses	15	20	16	18	23	20	20
Current Deferred Revenue	101	122	111	116	132	134	141
Current Employee Benefit Liabilities	18	12	18	19	14	21	26
Other Current Liabilities	9.44	9.23	9.21	9.07	11	11	11
Total Noncurrent Liabilities	737	568	562	562	571	567	567
Long-Term Debt	657	489	489	490	491	491	492
Noncurrent Deferred Revenue	21	23	20	18	27	24	25
Other Noncurrent Operating Liabilities	59	56	53	54	53	51	50
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	430	439	441	441	465	481	495
Total Preferred & Common Equity	430	439	441	441	465	481	495
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	430	439	441	441	465	481	495
Common Stock	962	1,002	1,028	1,051	1,106	1,134	1,160
Retained Earnings	-528	-561	-584	-608	-640	-653	-664
Accumulated Other Comprehensive Income / (Loss)	-3.60	-1.95	-1.95	-1.99	-1.31	-1.21	-0.59

This table displays calculated financial ratios and metrics derived from Q2's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	37.58%	37.99%	29.13%	24.29%	30.85%	27.66%	23.83%	13.43%	10.42%	11.50%
EBITDA Growth	-16.89%	-30.62%	74.49%	-93.53%	-238.98%	-6.92%	90.82%	-773.50%	119.42%	956.67%
EBIT Growth	-28.00%	-44.43%	25.50%	-55.42%	-107.17%	-47.62%	13.55%	-0.33%	17.63%	48.58%
NOPAT Growth	-30.25%	-43.79%	24.67%	-18.37%	-109.56%	-49.57%	21.87%	-34.32%	17.85%	50.89%
Net Income Growth	-27.65%	-45.05%	28.03%	-35.29%	-100.23%	-94.17%	18.07%	3.34%	40.01%	41.06%
EPS Growth	0.00%	-37.31%	31.52%	-31.75%	-84.34%	-73.20%	24.53%	5.00%	41.05%	42.86%
Operating Cash Flow Growth	202.14%	-37.14%	179.08%	-51.49%	-87.66%	-618.17%	1,158.27%	17.57%	92.29%	93.12%
Free Cash Flow Firm Growth	-285.01%	35.18%	-1.35%	-730.14%	-206.76%	89.16%	-46.15%	60.91%	44.04%	204.46%
Invested Capital Growth	152.61%	-66.65%	159.23%	3,386.12%	311.30%	-1.50%	5.00%	-5.66%	-6.30%	-8.11%
Revenue Q/Q Growth	8.21%	8.48%	5.18%	6.86%	6.65%	5.82%	4.81%	2.66%	2.56%	3.10%
EBITDA Q/Q Growth	-18.92%	12.17%	29.61%	-177.97%	-9.75%	22.27%	49.58%	-155.17%	138.26%	44.64%
EBIT Q/Q Growth	-16.85%	2.38%	4.10%	-29.27%	-17.04%	0.21%	2.35%	-8.30%	13.83%	26.09%
NOPAT Q/Q Growth	-17.32%	2.67%	3.63%	-24.98%	-15.91%	1.37%	3.60%	-16.61%	14.39%	28.01%
Net Income Q/Q Growth	-17.10%	2.43%	7.07%	-21.83%	-5.67%	-19.19%	9.94%	-6.90%	17.98%	32.13%
EPS Q/Q Growth	-48.89%	4.17%	7.35%	-22.06%	-2.00%	-16.74%	10.71%	-6.74%	19.42%	32.63%
Operating Cash Flow Q/Q Growth	930.62%	-6.55%	54.62%	7.64%	-92.04%	85.37%	191.81%	13.63%	-9.39%	4.99%
Free Cash Flow Firm Q/Q Growth	-25.00%	31.53%	3.14%	-285.25%	-239.63%	89.82%	17.68%	-0.75%	-123.17%	1.53%
Invested Capital Q/Q Growth	121.89%	-77.55%	-57.10%	308.46%	312.12%	-3.08%	-5.17%	-6.84%	-4.26%	-2.77%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.69%	48.46%	48.71%	49.46%	48.50%	43.35%	45.12%	45.32%	48.45%	50.90%
EBITDA Margin	-11.81%	-11.18%	-2.21%	-3.44%	-8.91%	-7.46%	-0.55%	-4.26%	0.75%	7.10%
Operating Margin	-22.82%	-23.78%	-13.87%	-13.21%	-21.16%	-24.79%	-15.64%	-18.52%	-13.78%	-6.07%
EBIT Margin	-23.08%	-24.15%	-13.94%	-17.42%	-27.59%	-31.90%	-22.27%	-19.70%	-14.70%	-6.78%
Profit (Net Income) Margin	-23.02%	-24.20%	-13.49%	-14.68%	-22.47%	-34.17%	-22.61%	-19.27%	-10.47%	-5.53%
Tax Burden Percent	100.89%	101.19%	98.81%	90.30%	85.02%	101.04%	101.48%	102.74%	105.76%	124.87%
Interest Burden Percent	98.89%	99.01%	97.95%	93.31%	95.78%	106.01%	100.03%	95.19%	67.35%	65.38%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-695.48%	-583.21%	-26.68%	-11.25%	-10.54%	-8.09%	-10.92%	-9.54%	-5.05%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-684.72%	-575.90%	-0.04%	-27.76%	-55.12%	-93.71%	-31.06%	-12.14%	-13.74%
Return on Net Nonoperating Assets (RNNOA)	0.00%	662.16%	557.92%	0.01%	-15.09%	-16.38%	-10.49%	-11.11%	-5.54%	-2.93%
Return on Equity (ROE)	-25.46%	-33.32%	-25.30%	-26.66%	-26.33%	-26.91%	-18.58%	-22.03%	-15.07%	-7.98%
Cash Return on Invested Capital (CROIC)	-612.56%	-595.51%	-671.87%	-215.52%	-133.02%	-9.03%	-12.97%	-5.09%	-3.03%	3.41%
Operating Return on Assets (OROA)	-14.72%	-17.90%	-13.06%	-12.42%	-11.82%	-10.59%	-7.93%	-8.15%	-7.20%	-3.78%
Return on Assets (ROA)	-14.69%	-17.93%	-12.65%	-10.46%	-9.62%	-11.34%	-8.05%	-7.97%	-5.13%	-3.09%
Return on Common Equity (ROCE)	-25.46%	-33.32%	-25.30%	-26.66%	-26.33%	-26.91%	-18.58%	-22.03%	-15.07%	-7.98%
Return on Equity Simple (ROE_SIMPLE)	-21.24%	-36.27%	-24.54%	-22.28%	-18.68%	-21.39%	-19.77%	-26.01%	-14.58%	-7.44%
Net Operating Profit after Tax (NOPAT)	-17	-25	-19	-22	-47	-70	-55	-73	-60	-30
NOPAT Margin	-15.97%	-16.64%	-9.71%	-9.25%	-14.81%	-17.35%	-10.95%	-12.96%	-9.64%	-4.25%
Net Nonoperating Expense Percent (NNEP)	-7.61%	-10.76%	-7.31%	-26.64%	16.52%	44.59%	85.62%	20.15%	2.60%	8.69%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-6.74%	-6.42%	-2.93%
Cost of Revenue to Revenue	54.31%	51.54%	51.29%	50.54%	51.50%	56.65%	54.88%	54.68%	51.55%	49.10%
SG&A Expenses to Revenue	21.11%	21.27%	19.17%	18.66%	17.98%	17.61%	15.62%	15.94%	17.64%	17.65%
R&D to Revenue	19.78%	21.61%	20.80%	21.29%	24.18%	24.18%	23.45%	23.00%	21.99%	20.57%
Operating Expenses to Revenue	68.50%	72.23%	62.58%	62.67%	69.65%	68.14%	60.76%	63.84%	62.23%	56.97%
Earnings before Interest and Taxes (EBIT)	-25	-36	-27	-42	-87	-128	-111	-111	-92	-47
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-13	-17	-4.28	-8.29	-28	-30	-2.76	-24	4.68	49
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.65	11.55	14.40	13.53	10.29	10.60	7.91	3.69	5.68	11.74
Price to Tangible Book Value (P/TBV)	11.61	16.05	18.79	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	9.38	7.71	7.92	8.91	12.38	16.93	9.05	2.73	4.08	8.73
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	168.46	589.30	307.59	13.25	6.27	10.38	6.71	2.73	4.43	10.91
Enterprise Value to Revenue (EV/Rev)	8.34	7.05	7.39	8.93	13.29	16.97	9.29	3.14	4.34	8.79
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	578.84	123.87
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	168.24	312.19	151.36	468.51	7,395.70	0.00	149.06	48.65	38.52	45.10
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	306.29
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	1.15	1.12	0.87	0.97	1.60	1.09	0.95
Long-Term Debt to Equity	0.00	0.00	0.00	1.15	1.12	0.87	0.97	1.57	1.09	0.58
Financial Leverage	-1.02	-0.97	-0.97	-0.37	0.54	0.30	0.11	0.36	0.46	0.21
Leverage Ratio	1.73	1.86	2.00	2.55	2.74	2.37	2.31	2.76	2.94	2.58
Compound Leverage Factor	1.71	1.84	1.96	2.38	2.62	2.51	2.31	2.63	1.98	1.69
Debt to Total Capital	0.14%	0.00%	0.00%	53.49%	52.82%	46.42%	49.17%	61.48%	52.24%	48.75%
Short-Term Debt to Total Capital	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.00%	0.00%	18.84%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	53.49%	52.82%	46.42%	49.17%	60.47%	52.24%	29.91%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	99.86%	100.00%	100.00%	46.51%	47.18%	53.58%	50.83%	38.52%	47.76%	51.25%
Debt to EBITDA	-0.01	0.00	0.00	-22.04	-15.12	-18.56	-200.00	-27.76	104.84	9.96
Net Debt to EBITDA	8.76	0.00	0.00	-0.43	-10.28	-0.50	-43.84	-9.67	34.73	0.88
Long-Term Debt to EBITDA	0.00	0.00	0.00	-22.04	-15.12	-18.56	-200.00	-27.30	104.84	6.11
Debt to NOPAT	-0.01	0.00	0.00	-8.20	-9.09	-7.98	-10.10	-9.12	-8.14	-16.65
Net Debt to NOPAT	6.47	0.00	0.00	-0.16	-6.18	-0.21	-2.21	-3.18	-2.70	-1.47
Long-Term Debt to NOPAT	0.00	0.00	0.00	-8.20	-9.09	-7.98	-10.10	-8.97	-8.14	-10.21
Altman Z-Score	7.11	6.57	8.52	4.31	3.47	5.30	3.23	0.86	1.80	4.54
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.92	2.12	1.93	2.96	1.40	4.23	3.10	2.77	2.23	1.40
Quick Ratio	2.62	1.85	1.66	2.67	1.16	3.95	2.82	2.50	1.92	1.23
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-33	-21	-22	-180	-553	-60	-87	-34	-19	20
Operating Cash Flow to CapEx	75.74%	23.13%	76.91%	34.47%	4.01%	-12.39%	121.36%	121.64%	229.39%	467.61%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	-6.70	-57.83	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	-0.33	20.55	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-2.98	3.62	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.64	0.74	0.94	0.71	0.43	0.33	0.36	0.41	0.49	0.56
Accounts Receivable Turnover	15.53	14.14	15.25	14.67	14.98	13.68	11.96	12.07	13.94	16.39
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	5.07	5.79	6.25	6.93	8.50	9.07	8.59	9.18	12.76	19.16
Accounts Payable Turnover	21.75	20.16	16.79	14.52	16.14	24.20	29.61	29.96	21.90	23.83
Days Sales Outstanding (DSO)	23.50	25.81	23.94	24.88	24.36	26.68	30.52	30.23	26.19	22.27
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	16.78	18.10	21.74	25.15	22.62	15.08	12.33	12.18	16.67	15.32
Cash Conversion Cycle (CCC)	6.72	7.71	2.20	-0.26	1.74	11.60	18.20	18.05	9.52	6.95
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	5.39	1.80	4.66	162	668	658	691	652	611	561
Invested Capital Turnover	-44.83	41.79	60.06	2.88	0.76	0.61	0.74	0.84	0.99	1.19
Increase / (Decrease) in Invested Capital	16	-3.59	2.86	158	506	-10	33	-39	-41	-50
Enterprise Value (EV)	908	1,060	1,434	2,153	4,193	6,833	4,634	1,779	2,708	6,123
Market Capitalization	1,021	1,158	1,536	2,149	3,904	6,818	4,514	1,545	2,545	6,079
Book Value per Share	$3.05	$2.50	$2.56	$3.66	$7.88	$11.94	$10.04	$7.29	$7.65	$8.57
Tangible Book Value per Share	$2.27	$1.80	$1.96	($0.28)	($6.36)	($0.07)	($1.85)	($4.16)	($3.17)	($1.49)
Total Capital	118	100	107	342	804	1,201	1,122	1,088	939	1,010
Total Debt	0.16	0.00	0.00	183	425	557	552	669	490	492
Total Long-Term Debt	0.00	0.00	0.00	183	425	557	552	658	490	302
Net Debt	-113	-98	-102	3.59	289	15	121	233	162	44
Capital Expenditures (CapEx)	7.13	15	12	13	14	24	26	30	31	29
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-25	-32	-39	-35	-83	-72	-77	-86	-92	-99
Debt-free Net Working Capital (DFNWC)	88	66	63	145	53	470	354	350	236	350
Net Working Capital (NWC)	88	66	63	145	53	470	354	339	236	160
Net Nonoperating Expense (NNE)	7.68	11	7.33	13	24	68	58	36	5.14	8.95
Net Nonoperating Obligations (NNO)	-113	-98	-102	3.59	289	15	121	233	162	44
Total Depreciation and Amortization (D&A)	12	19	23	34	59	98	108	87	96	97
Debt-free, Cash-free Net Working Capital to Revenue	-23.02%	-21.29%	-20.08%	-14.31%	-26.16%	-17.91%	-15.36%	-15.15%	-14.66%	-14.18%
Debt-free Net Working Capital to Revenue	80.54%	44.24%	32.49%	59.99%	16.92%	116.79%	71.00%	61.86%	37.85%	50.27%
Net Working Capital to Revenue	80.40%	44.24%	32.49%	59.99%	16.92%	116.79%	71.00%	59.93%	37.85%	22.94%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	($2.00)	($1.90)	($1.12)	($0.64)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	0.00	0.00	0.00	56.39M	57.30M	58.35M	60.11M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	($2.00)	($1.90)	($1.12)	($0.64)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	0.00	56.39M	57.30M	58.35M	60.11M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	0.00	56.93M	57.74M	59.07M	60.73M
Normalized Net Operating Profit after Tax (NOPAT)	-17	-25	-19	-22	-47	-59	-51	-63	-53	-24
Normalized NOPAT Margin	-15.97%	-16.64%	-9.71%	-9.25%	-14.81%	-14.67%	-10.29%	-11.18%	-8.41%	-3.48%
Pre Tax Income Margin	-22.82%	-23.92%	-13.65%	-16.26%	-26.42%	-33.82%	-22.28%	-18.75%	-9.90%	-4.43%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	-14.38	-73.41	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	-7.82	-36.08	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-17.04	-90.34	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-10.48	-53.02	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-0.02%	0.00%	0.00%	0.00%	-99.94%	-17.43%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Q2's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.21%	11.11%	14.12%	10.14%	7.06%	10.63%	8.17%	11.88%	12.94%	12.91%
EBITDA Growth	-67.64%	-482.07%	133.09%	72.50%	100.28%	145.60%	1,651.43%	983.57%	54,373.68%	288.10%
EBIT Growth	7.65%	-33.38%	2.02%	0.77%	14.80%	43.15%	31.65%	41.30%	42.20%	85.84%
NOPAT Growth	-17.93%	-84.93%	0.93%	0.48%	14.47%	44.54%	33.09%	42.11%	44.76%	98.94%
Net Income Growth	12.01%	-27.70%	97.81%	6.34%	16.64%	44.22%	-2,582.75%	44.71%	49.08%	100.91%
EPS Growth	14.29%	-26.67%	97.56%	6.82%	16.67%	47.37%	-2,200.00%	46.34%	50.00%	103.33%
Operating Cash Flow Growth	145.24%	11.11%	186.49%	240.24%	157.22%	-16.61%	245.04%	175.71%	158.16%	17.66%
Free Cash Flow Firm Growth	115.18%	136.27%	159.65%	2,834.51%	356.59%	73.80%	13.40%	1.49%	13.71%	73.53%
Invested Capital Growth	-3.97%	-5.66%	-6.05%	-8.13%	-8.83%	-6.30%	-6.25%	-7.87%	-9.53%	-8.11%
Revenue Q/Q Growth	3.17%	1.24%	4.41%	1.00%	0.28%	4.61%	2.09%	4.46%	1.23%	4.58%
EBITDA Q/Q Growth	-68.66%	-68.15%	104.22%	-329.80%	101.69%	27,768.42%	62.08%	15.93%	4.03%	98.55%
EBIT Q/Q Growth	-12.95%	-18.78%	33.67%	-11.51%	3.01%	20.75%	20.25%	4.23%	4.51%	80.59%
NOPAT Q/Q Growth	-13.90%	-19.92%	34.75%	-11.65%	2.10%	22.25%	21.27%	3.40%	6.59%	98.51%
Net Income Q/Q Growth	-10.19%	-16.62%	98.41%	-4,477.91%	1.93%	21.96%	23.43%	5.66%	9.67%	101.39%
EPS Q/Q Growth	-9.09%	-18.75%	98.25%	-4,000.00%	2.44%	25.00%	23.33%	4.35%	9.09%	105.00%
Operating Cash Flow Q/Q Growth	169.90%	573.47%	-91.12%	235.59%	28.20%	118.33%	-63.27%	168.16%	20.04%	-0.50%
Free Cash Flow Firm Q/Q Growth	768.63%	64.24%	66.37%	49.67%	11.64%	-37.48%	8.56%	33.95%	25.09%	-4.60%
Invested Capital Q/Q Growth	-0.85%	-6.84%	0.31%	-0.84%	-1.61%	-4.26%	0.37%	-2.55%	-3.38%	-2.77%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	46.19%	45.18%	47.90%	47.78%	47.84%	50.21%	49.70%	50.22%	50.88%	52.63%
EBITDA Margin	-4.77%	-7.92%	0.32%	-0.73%	0.01%	3.27%	5.19%	5.75%	5.91%	11.23%
Operating Margin	-18.72%	-22.17%	-13.85%	-15.32%	-14.95%	-11.11%	-8.57%	-7.93%	-7.31%	-0.86%
EBIT Margin	-19.86%	-23.30%	-14.80%	-16.34%	-15.80%	-11.97%	-9.35%	-8.57%	-8.09%	-1.50%
Profit (Net Income) Margin	-19.20%	-22.12%	-0.34%	-15.29%	-14.95%	-11.15%	-8.36%	-7.55%	-6.74%	0.09%
Tax Burden Percent	101.72%	102.32%	103.61%	102.07%	104.54%	112.85%	112.65%	119.04%	123.70%	8.47%
Interest Burden Percent	95.06%	92.79%	2.20%	91.66%	90.49%	82.55%	79.40%	74.01%	67.38%	-70.45%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	91.53%
Return on Invested Capital (ROIC)	-10.10%	-13.07%	-8.40%	-9.48%	-9.53%	-7.69%	-6.03%	-5.84%	-5.69%	-0.09%
ROIC Less NNEP Spread (ROIC-NNEP)	-14.34%	-18.53%	-2.24%	-12.47%	-12.51%	-10.46%	-8.19%	-7.98%	-7.72%	0.20%
Return on Net Nonoperating Assets (RNNOA)	-5.91%	-6.63%	-1.18%	-6.67%	-6.70%	-4.77%	-3.29%	-2.80%	-2.30%	0.04%
Return on Equity (ROE)	-16.01%	-19.70%	-9.57%	-16.15%	-16.23%	-12.46%	-9.32%	-8.64%	-7.99%	-0.04%
Cash Return on Invested Capital (CROIC)	-4.75%	-5.09%	-4.60%	-2.32%	-1.28%	-3.03%	-2.28%	0.43%	3.24%	3.41%
Operating Return on Assets (OROA)	-8.07%	-9.64%	-6.79%	-7.78%	-7.66%	-5.86%	-4.94%	-4.64%	-4.46%	-0.84%
Return on Assets (ROA)	-7.80%	-9.15%	-0.15%	-7.28%	-7.25%	-5.46%	-4.42%	-4.09%	-3.71%	0.05%
Return on Common Equity (ROCE)	-16.01%	-19.70%	-9.57%	-16.15%	-16.23%	-12.46%	-9.32%	-8.64%	-7.99%	-0.04%
Return on Equity Simple (ROE_SIMPLE)	-23.69%	0.00%	-19.57%	-19.11%	-18.08%	0.00%	-16.93%	-14.18%	-11.47%	0.00%
Net Operating Profit after Tax (NOPAT)	-19	-23	-15	-17	-16	-13	-9.93	-9.59	-8.96	-0.13
NOPAT Margin	-13.10%	-15.52%	-9.70%	-10.72%	-10.47%	-7.78%	-6.00%	-5.55%	-5.12%	-0.07%
Net Nonoperating Expense Percent (NNEP)	4.24%	5.46%	-6.16%	2.99%	2.98%	2.76%	2.15%	2.14%	2.03%	-0.29%
Return On Investment Capital (ROIC_SIMPLE)	-	-2.09%	-	-	-	-1.34%	-	-	-	-0.01%
Cost of Revenue to Revenue	53.81%	54.82%	52.10%	52.22%	52.16%	49.79%	50.30%	49.78%	49.12%	47.37%
SG&A Expenses to Revenue	15.62%	16.17%	16.14%	17.55%	18.12%	18.68%	18.23%	18.09%	18.00%	16.38%
R&D to Revenue	22.87%	23.23%	22.50%	22.06%	22.29%	21.14%	21.06%	20.68%	21.08%	19.52%
Operating Expenses to Revenue	64.90%	67.35%	61.76%	63.09%	62.79%	61.32%	58.27%	58.15%	58.20%	53.49%
Earnings before Interest and Taxes (EBIT)	-29	-34	-23	-25	-24	-19	-15	-15	-14	-2.75
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-6.91	-12	0.49	-1.13	0.02	5.30	8.58	9.95	10	21
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.29	3.69	3.24	4.07	4.28	5.68	6.63	7.54	9.71	11.74
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.35	2.73	2.43	3.00	3.10	4.08	4.84	5.53	7.12	8.73
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.02	2.73	2.50	3.09	3.26	4.43	5.27	6.26	8.47	10.91
Enterprise Value to Revenue (EV/Rev)	3.84	3.14	2.80	3.35	3.42	4.34	5.07	5.71	7.24	8.79
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	578.84	252.94	156.96	143.11	123.87
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	65.74	48.65	36.41	29.78	26.85	38.52	40.46	36.41	37.83	45.10
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,402.76	248.41	306.29
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.55	1.60	1.11	1.11	1.11	1.09	1.06	1.02	0.99	0.95
Long-Term Debt to Equity	1.53	1.57	1.11	1.11	1.11	1.09	1.06	1.02	0.99	0.58
Financial Leverage	0.41	0.36	0.53	0.54	0.54	0.46	0.40	0.35	0.30	0.21
Leverage Ratio	2.68	2.76	2.88	2.85	2.88	2.94	2.67	2.63	2.62	2.58
Compound Leverage Factor	2.55	2.56	0.06	2.61	2.61	2.43	2.12	1.94	1.76	-1.82
Debt to Total Capital	60.82%	61.48%	52.69%	52.58%	52.63%	52.24%	51.36%	50.56%	49.84%	48.75%
Short-Term Debt to Total Capital	0.99%	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	18.84%
Long-Term Debt to Total Capital	59.83%	60.47%	52.69%	52.58%	52.63%	52.24%	51.36%	50.56%	49.84%	29.91%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	39.18%	38.52%	47.31%	47.42%	47.37%	47.76%	48.64%	49.45%	50.16%	51.25%
Debt to EBITDA	-70.76	-27.76	-22.11	-25.56	-40.07	104.84	38.45	20.61	14.39	9.96
Net Debt to EBITDA	-28.56	-9.67	-9.72	-10.82	-16.12	34.73	11.61	4.90	2.41	0.88
Long-Term Debt to EBITDA	-69.60	-27.30	-22.11	-25.56	-40.07	104.84	38.45	20.61	14.39	6.11
Debt to NOPAT	-10.62	-9.12	-6.68	-6.69	-6.96	-8.14	-8.87	-10.16	-11.97	-16.65
Net Debt to NOPAT	-4.29	-3.18	-2.94	-2.83	-2.80	-2.70	-2.68	-2.42	-2.00	-1.47
Long-Term Debt to NOPAT	-10.45	-8.97	-6.68	-6.69	-6.96	-8.14	-8.87	-10.16	-11.97	-10.21
Altman Z-Score	1.31	1.05	1.11	1.43	1.48	2.00	2.43	2.86	3.77	4.66
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.00	2.77	2.12	2.25	2.25	2.23	2.38	2.44	2.50	1.40
Quick Ratio	2.70	2.50	1.76	1.89	1.90	1.92	2.04	2.14	2.21	1.23
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	9.98	16	27	41	46	28	31	41	52	49
Operating Cash Flow to CapEx	65.05%	803.79%	54.99%	139.91%	224.30%	541.64%	181.20%	495.19%	530.61%	695.35%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.41	0.41	0.46	0.48	0.48	0.49	0.53	0.54	0.55	0.56
Accounts Receivable Turnover	10.39	12.07	15.30	14.13	12.55	13.94	13.54	13.36	13.20	16.39
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	8.74	9.18	10.05	10.79	11.72	12.76	14.02	15.62	17.09	19.16
Accounts Payable Turnover	35.33	29.96	23.08	23.61	24.02	21.90	24.56	23.31	23.71	23.83
Days Sales Outstanding (DSO)	35.14	30.23	23.85	25.82	29.08	26.19	26.96	27.31	27.66	22.27
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	10.33	12.18	15.81	15.46	15.19	16.67	14.86	15.66	15.39	15.32
Cash Conversion Cycle (CCC)	24.81	18.05	8.04	10.37	13.89	9.52	12.10	11.66	12.26	6.95
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	700	652	654	649	638	611	613	598	577	561
Invested Capital Turnover	0.77	0.84	0.87	0.88	0.91	0.99	1.01	1.05	1.11	1.19
Increase / (Decrease) in Invested Capital	-29	-39	-42	-57	-62	-41	-41	-51	-61	-50
Enterprise Value (EV)	2,115	1,779	1,637	2,005	2,083	2,708	3,230	3,743	4,891	6,123
Market Capitalization	1,845	1,545	1,422	1,798	1,886	2,545	3,082	3,626	4,809	6,079
Book Value per Share	$7.51	$7.29	$7.60	$7.58	$7.55	$7.65	$7.82	$8.00	$8.21	$8.57
Tangible Book Value per Share	($3.99)	($4.16)	($3.70)	($3.54)	($3.43)	($3.17)	($2.74)	($2.34)	($1.97)	($1.49)
Total Capital	1,098	1,088	928	931	931	939	956	972	987	1,010
Total Debt	668	669	489	489	490	490	491	491	492	492
Total Long-Term Debt	657	658	489	489	490	490	491	491	492	302
Net Debt	270	233	215	207	197	162	148	117	82	44
Capital Expenditures (CapEx)	10	5.46	7.08	9.34	7.47	6.75	7.42	7.28	8.15	6.19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-54	-86	-76	-72	-72	-92	-77	-84	-94	-99
Debt-free Net Working Capital (DFNWC)	344	350	198	210	221	236	266	290	316	350
Net Working Capital (NWC)	333	339	198	210	221	236	266	290	316	160
Net Nonoperating Expense (NNE)	8.83	9.67	-14	7.05	6.95	5.47	3.91	3.47	2.84	-0.30
Net Nonoperating Obligations (NNO)	270	233	215	207	197	162	148	117	82	44
Total Depreciation and Amortization (D&A)	22	23	23	24	25	25	24	25	25	23
Debt-free, Cash-free Net Working Capital to Revenue	-9.89%	-15.15%	-12.96%	-12.02%	-11.86%	-14.66%	-12.07%	-12.87%	-13.94%	-14.18%
Debt-free Net Working Capital to Revenue	62.42%	61.86%	33.91%	35.12%	36.22%	37.85%	41.73%	44.27%	46.71%	50.27%
Net Working Capital to Revenue	60.45%	59.93%	33.91%	35.12%	36.22%	37.85%	41.73%	44.27%	46.71%	22.94%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.48)	($0.57)	($0.01)	($0.41)	($0.40)	($0.30)	($0.23)	($0.22)	($0.20)	$0.01
Adjusted Weighted Average Basic Shares Outstanding	57.36M	57.30M	57.89M	58.29M	58.49M	58.35M	59.45M	60.16M	60.31M	60.11M
Adjusted Diluted Earnings per Share	($0.48)	($0.57)	($0.01)	($0.41)	($0.40)	($0.30)	($0.23)	($0.22)	($0.20)	$0.01
Adjusted Weighted Average Diluted Shares Outstanding	57.36M	57.30M	57.89M	58.29M	58.49M	58.35M	59.45M	60.16M	60.31M	60.11M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	57.52M	57.74M	58.20M	58.45M	58.64M	59.07M	60.10M	60.28M	60.40M	60.73M
Normalized Net Operating Profit after Tax (NOPAT)	-15	-18	-13	-15	-14	-10	-9.14	-8.92	-6.77	0.58
Normalized NOPAT Margin	-10.27%	-11.95%	-8.80%	-9.67%	-8.97%	-6.31%	-5.52%	-5.16%	-3.87%	0.32%
Pre Tax Income Margin	-18.88%	-21.62%	-0.33%	-14.98%	-14.30%	-9.88%	-7.42%	-6.35%	-5.45%	1.06%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Q2's Financials

When does Q2's fiscal year end?

According to the most recent income statement we have on file, Q2's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Q2's net income changed over the last 9 years?

Q2's net income appears to be on an upward trend, with a most recent value of -$38.54 million in 2024, rising from -$25.06 million in 2015. The previous period was -$65.38 million in 2023. Find out what analysts predict for Q2 in the coming months.

What is Q2's operating income?

Q2's total operating income in 2024 was -$42.26 million, based on the following breakdown:

Total Gross Profit: $354.48 million
Total Operating Expenses: $396.74 million

How has Q2 revenue changed over the last 9 years?

Over the last 9 years, Q2's total revenue changed from $108.87 million in 2015 to $696.46 million in 2024, a change of 539.7%.

How much debt does Q2 have?

Q2's total liabilities were at $777.00 million at the end of 2024, a 3.2% increase from 2023, and a 798.3% increase since 2015.

How much cash does Q2 have?

In the past 9 years, Q2's cash and equivalents has ranged from $54.87 million in 2016 to $407.70 million in 2020, and is currently $358.56 million as of their latest financial filing in 2024.

How has Q2's book value per share changed over the last 9 years?

Over the last 9 years, Q2's book value per share changed from 3.05 in 2015 to 8.57 in 2024, a change of 181.3%.

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This page (NYSE:QTWO) was last updated on 5/5/2025 by MarketBeat.com Staff

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Q2 (QTWO) Financials

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Q2 (QTWO) Financials

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