Q2 (QTWO) Financials

$87.73 -0.86 (-0.97%)

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

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	4.75	0.16	-12	-13	-14	-18	-23	-24	-0.52	-32	-28
Consolidated Net Income / (Loss)	4.75	0.16	-12	-13	-14	-18	-23	-24	-0.52	-32	-28
Net Income / (Loss) Continuing Operations	4.75	0.16	-12	-13	-14	-18	-23	-24	-0.52	-32	-28
Total Pre-Tax Income	5.24	1.94	-9.54	-11	-12	-16	-22	-23	-0.50	-32	-27
Total Operating Income	2.19	-1.58	-13	-14	-14	-18	-23	-24	-21	-32	-27
Total Gross Profit	101	96	89	87	82	81	74	74	73	66	67
Total Revenue	190	183	175	173	166	162	155	155	153	147	145
Operating Revenue	190	183	175	173	166	162	155	155	153	147	145
Total Cost of Revenue	89	87	86	86	83	81	81	81	80	80	78
Operating Cost of Revenue	89	87	86	86	83	81	81	81	80	80	78
Total Operating Expenses	99	98	102	101	96	99	97	97	94	99	94
Selling, General & Admin Expense	32	30	31	31	30	30	28	27	25	24	23
Marketing Expense	27	27	26	28	25	27	26	29	28	29	28
Research & Development Expense	38	36	37	36	35	34	35	34	34	34	33
Amortization Expense	0.09	2.59	4.78	4.79	4.83	4.90	5.25	5.25	5.26	4.98	4.42
Restructuring Charge	2.01	2.41	3.13	0.97	1.13	3.40	3.31	2.32	1.97	7.47	5.85
Total Other Income / (Expense), net	3.05	3.51	3.26	2.73	1.90	2.00	1.01	0.53	21	0.81	-0.23
Interest & Investment Income	4.59	4.68	4.62	3.85	3.19	3.39	2.33	2.11	2.28	2.46	1.42
Other Income / (Expense), net	-1.54	-1.17	-1.35	-1.12	-1.29	-1.39	-1.32	-1.58	-1.44	-1.65	-1.65
Income Tax Expense	0.49	1.77	2.26	2.09	1.56	2.06	1.01	0.48	0.02	0.74	0.47
Basic Earnings per Share	$0.08	$0.01	($0.20)	($0.22)	($0.23)	($0.30)	($0.40)	($0.41)	($0.01)	($0.57)	($0.48)
Weighted Average Basic Shares Outstanding	61.22M	60.11M	60.31M	60.16M	59.45M	58.35M	58.49M	58.29M	57.89M	57.30M	57.36M
Diluted Earnings per Share	$0.07	$0.01	($0.20)	($0.22)	($0.23)	($0.30)	($0.40)	($0.41)	($0.01)	($0.57)	($0.48)
Weighted Average Diluted Shares Outstanding	64.82M	60.11M	60.31M	60.16M	59.45M	58.35M	58.49M	58.29M	57.89M	57.30M	57.36M
Weighted Average Basic & Diluted Shares Outstanding	62.30M	60.73M	60.40M	60.28M	60.10M	59.07M	58.64M	58.45M	58.20M	57.74M	57.52M

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

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	25	39	16	28	45	76	38	-3.00	-78	6.60	-19
Net Cash From Operating Activities	44	43	43	36	13	37	17	13	3.89	44	6.51
Net Cash From Continuing Operating Activities	44	43	43	36	13	37	17	13	3.89	44	6.51
Net Income / (Loss) Continuing Operations	4.75	0.16	-12	-13	-14	-18	-23	-24	-0.52	-32	-28
Consolidated Net Income / (Loss)	4.75	0.16	-12	-13	-14	-18	-23	-24	-0.52	-32	-28
Depreciation Expense	14	16	18	18	18	18	18	18	18	16	15
Amortization Expense	7.20	7.31	6.85	7.13	6.54	6.76	6.22	6.19	5.59	6.11	6.55
Non-Cash Adjustments To Reconcile Net Income	20	20	28	25	22	20	25	23	0.97	23	22
Changes in Operating Assets and Liabilities, net	-2.16	-0.06	2.77	-0.37	-19	10	-9.10	-10	-20	31	-9.92
Net Cash From Investing Activities	-20	-6.45	-27	-11	23	35	21	-20	78	-40	-25
Net Cash From Continuing Investing Activities	-20	-6.45	-27	-11	23	35	21	-20	78	-40	-25
Purchase of Property, Plant & Equipment	-5.70	-6.19	-8.15	-7.28	-7.42	-6.75	-7.47	-9.34	-7.08	-5.46	-10
Purchase of Investments	-34	-28	-34	-33	-0.08	-0.05	-7.44	-27	-43	-79	-72
Sale and/or Maturity of Investments	20	28	15	29	31	41	36	16	128	49	57
Net Cash From Financing Activities	0.55	2.81	-0.94	3.04	8.40	4.08	0.39	3.84	-160	2.63	0.45
Net Cash From Continuing Financing Activities	0.55	2.81	-0.94	3.04	8.40	4.08	0.39	3.84	-160	2.63	0.45
Other Financing Activities, net	0.55	2.81	-	3.04	8.40	4.08	0.39	3.84	0.23	2.63	0.45
Effect of Exchange Rate Changes	0.11	-0.76	0.19	-0.07	-0.19	0.32	-0.41	0.22	0.06	0.14	-0.36

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

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	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,350	1,273	1,249	1,228	1,179	1,173	1,184	1,333
Total Current Assets	619	526	491	458	397	379	375	499
Cash & Equivalents	384	320	304	275	156	118	121	193
Restricted Cash	1.58	1.85	2.52	4.26	2.07	2.30	2.27	2.73
Short-Term Investments	102	88	68	64	135	162	150	203
Accounts Receivable	63	58	59	54	44	39	40	53
Prepaid Expenses	22	18	13	16	15	12	15	14
Other Current Assets	47	41	45	46	45	46	46	35
Plant, Property, & Equipment, net	28	34	35	38	45	48	53	59
Total Noncurrent Assets	703	712	722	732	738	745	756	775
Goodwill	513	513	513	513	513	513	513	513
Intangible Assets	91	101	108	115	128	135	140	146
Other Noncurrent Operating Assets	100	98	101	104	97	97	103	116
Total Liabilities & Shareholders' Equity	1,350	1,273	1,249	1,228	1,179	1,173	1,184	1,333
Total Liabilities	804	778	768	763	738	731	745	903
Total Current Liabilities	432	211	201	193	176	169	177	166
Short-Term Debt	191	-	-	-	0.00	0.00	0.00	11
Accounts Payable	15	13	14	13	15	14	14	12
Accrued Expenses	24	20	20	23	18	16	20	15
Current Deferred Revenue	174	141	134	132	116	111	122	101
Current Employee Benefit Liabilities	19	26	21	14	19	18	12	18
Other Current Liabilities	10	11	11	11	9.07	9.21	9.23	9.44
Total Noncurrent Liabilities	372	567	567	571	562	562	568	737
Long-Term Debt	302	492	491	491	490	489	489	657
Noncurrent Deferred Revenue	27	25	24	27	18	20	23	21
Other Noncurrent Operating Liabilities	43	50	51	53	54	53	56	59
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	545	495	481	465	441	441	439	430
Total Preferred & Common Equity	545	495	481	465	441	441	439	430
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	545	495	481	465	441	441	439	430
Common Stock	1,207	1,160	1,134	1,106	1,051	1,028	1,002	962
Retained Earnings	-659	-664	-653	-640	-608	-584	-561	-528
Accumulated Other Comprehensive Income / (Loss)	-1.72	-0.59	-1.21	-1.31	-1.99	-1.95	-1.95	-3.60

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

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

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.64%	12.91%	12.94%	11.88%	8.17%	10.63%	7.06%	10.14%	14.12%	11.11%	14.21%
EBITDA Growth	151.42%	288.10%	54,373.68%	983.57%	1,651.43%	145.60%	100.28%	72.50%	133.09%	-482.07%	-67.64%
EBIT Growth	104.23%	85.84%	42.20%	41.30%	31.65%	43.15%	14.80%	0.77%	2.02%	-33.38%	7.65%
NOPAT Growth	120.00%	98.94%	44.76%	42.11%	33.09%	44.54%	14.47%	0.48%	0.93%	-84.93%	-17.93%
Net Income Growth	134.34%	100.91%	49.08%	44.71%	-2,582.75%	44.22%	16.64%	6.34%	97.81%	-27.70%	12.01%
EPS Growth	130.43%	103.33%	50.00%	46.34%	-2,200.00%	47.37%	16.67%	6.82%	97.56%	-26.67%	14.29%
Operating Cash Flow Growth	223.99%	17.66%	158.16%	175.71%	245.04%	-16.61%	157.22%	240.24%	186.49%	11.11%	145.24%
Free Cash Flow Firm Growth	108.29%	73.53%	13.71%	1.49%	13.40%	73.80%	356.59%	2,834.51%	159.65%	136.27%	115.18%
Invested Capital Growth	-10.18%	-8.11%	-9.53%	-7.87%	-6.25%	-6.30%	-8.83%	-8.13%	-6.05%	-5.66%	-3.97%
Revenue Q/Q Growth	3.65%	4.58%	1.23%	4.46%	2.09%	4.61%	0.28%	1.00%	4.41%	1.24%	3.17%
EBITDA Q/Q Growth	5.00%	98.55%	4.03%	15.93%	62.08%	27,768.42%	101.69%	-329.80%	104.22%	-68.15%	-68.66%
EBIT Q/Q Growth	123.80%	80.59%	4.51%	4.23%	20.25%	20.75%	3.01%	-11.51%	33.67%	-18.78%	-12.95%
NOPAT Q/Q Growth	1,588.21%	98.51%	6.59%	3.40%	21.27%	22.25%	2.10%	-11.65%	34.75%	-19.92%	-13.90%
Net Income Q/Q Growth	2,798.17%	101.39%	9.67%	5.66%	23.43%	21.96%	1.93%	-4,477.91%	98.41%	-16.62%	-10.19%
EPS Q/Q Growth	600.00%	105.00%	9.09%	4.35%	23.33%	25.00%	2.44%	-4,000.00%	98.25%	-18.75%	-9.09%
Operating Cash Flow Q/Q Growth	1.15%	-0.50%	20.04%	168.16%	-63.27%	118.33%	28.20%	235.59%	-91.12%	573.47%	169.90%
Free Cash Flow Firm Q/Q Growth	30.30%	-4.60%	25.09%	33.95%	8.56%	-37.48%	11.64%	49.67%	66.37%	64.24%	768.63%
Invested Capital Q/Q Growth	-1.89%	-2.77%	-3.38%	-2.55%	0.37%	-4.26%	-1.61%	-0.84%	0.31%	-6.84%	-0.85%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	53.23%	52.63%	50.88%	50.22%	49.70%	50.21%	47.84%	47.78%	47.90%	45.18%	46.19%
EBITDA Margin	11.37%	11.23%	5.91%	5.75%	5.19%	3.27%	0.01%	-0.73%	0.32%	-7.92%	-4.77%
Operating Margin	1.15%	-0.86%	-7.31%	-7.93%	-8.57%	-11.11%	-14.95%	-15.32%	-13.85%	-22.17%	-18.72%
EBIT Margin	0.34%	-1.50%	-8.09%	-8.57%	-9.35%	-11.97%	-15.80%	-16.34%	-14.80%	-23.30%	-19.86%
Profit (Net Income) Margin	2.51%	0.09%	-6.74%	-7.55%	-8.36%	-11.15%	-14.95%	-15.29%	-0.34%	-22.12%	-19.20%
Tax Burden Percent	90.71%	8.47%	123.70%	119.04%	112.65%	112.85%	104.54%	102.07%	103.61%	102.32%	101.72%
Interest Burden Percent	801.22%	-70.45%	67.38%	74.01%	79.40%	82.55%	90.49%	91.66%	2.20%	92.79%	95.06%
Effective Tax Rate	9.29%	91.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	1.30%	-0.09%	-5.69%	-5.84%	-6.03%	-7.69%	-9.53%	-9.48%	-8.40%	-13.07%	-10.10%
ROIC Less NNEP Spread (ROIC-NNEP)	4.90%	0.20%	-7.72%	-7.98%	-8.19%	-10.46%	-12.51%	-12.47%	-2.24%	-18.53%	-14.34%
Return on Net Nonoperating Assets (RNNOA)	0.74%	0.04%	-2.30%	-2.80%	-3.29%	-4.77%	-6.70%	-6.67%	-1.18%	-6.63%	-5.91%
Return on Equity (ROE)	2.04%	-0.04%	-7.99%	-8.64%	-9.32%	-12.46%	-16.23%	-16.15%	-9.57%	-19.70%	-16.01%
Cash Return on Invested Capital (CROIC)	7.61%	3.41%	3.24%	0.43%	-2.28%	-3.03%	-1.28%	-2.32%	-4.60%	-5.09%	-4.75%
Operating Return on Assets (OROA)	0.19%	-0.84%	-4.46%	-4.64%	-4.94%	-5.86%	-7.66%	-7.78%	-6.79%	-9.64%	-8.07%
Return on Assets (ROA)	1.40%	0.05%	-3.71%	-4.09%	-4.42%	-5.46%	-7.25%	-7.28%	-0.15%	-9.15%	-7.80%
Return on Common Equity (ROCE)	2.04%	-0.04%	-7.99%	-8.64%	-9.32%	-12.46%	-16.23%	-16.15%	-9.57%	-19.70%	-16.01%
Return on Equity Simple (ROE_SIMPLE)	-3.66%	0.00%	-11.47%	-14.18%	-16.93%	0.00%	-18.08%	-19.11%	-19.57%	0.00%	-23.69%
Net Operating Profit after Tax (NOPAT)	1.99	-0.13	-8.96	-9.59	-9.93	-13	-16	-17	-15	-23	-19
NOPAT Margin	1.05%	-0.07%	-5.12%	-5.55%	-6.00%	-7.78%	-10.47%	-10.72%	-9.70%	-15.52%	-13.10%
Net Nonoperating Expense Percent (NNEP)	-3.60%	-0.29%	2.03%	2.14%	2.15%	2.76%	2.98%	2.99%	-6.16%	5.46%	4.24%
Return On Investment Capital (ROIC_SIMPLE)	0.19%	-0.01%	-	-	-	-1.34%	-	-	-	-2.09%	-
Cost of Revenue to Revenue	46.77%	47.37%	49.12%	49.78%	50.30%	49.79%	52.16%	52.22%	52.10%	54.82%	53.81%
SG&A Expenses to Revenue	17.04%	16.38%	18.00%	18.09%	18.23%	18.68%	18.12%	17.55%	16.14%	16.17%	15.62%
R&D to Revenue	19.95%	19.52%	21.08%	20.68%	21.06%	21.14%	22.29%	22.06%	22.50%	23.23%	22.87%
Operating Expenses to Revenue	52.07%	53.49%	58.20%	58.15%	58.27%	61.32%	62.79%	63.09%	61.76%	67.35%	64.90%
Earnings before Interest and Taxes (EBIT)	0.65	-2.75	-14	-15	-15	-19	-24	-25	-23	-34	-29
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	22	21	10	9.95	8.58	5.30	0.02	-1.13	0.49	-12	-6.91
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.91	11.74	9.71	7.54	6.63	5.68	4.28	4.07	3.24	3.69	4.29
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	0.00
Price to Revenue (P/Rev)	6.74	8.73	7.12	5.53	4.84	4.08	3.10	3.00	2.43	2.73	3.35
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	0.00
Dividend Yield	0.00%	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%	0.00%
Enterprise Value to Invested Capital (EV/IC)	8.83	10.91	8.47	6.26	5.27	4.43	3.26	3.09	2.50	2.73	3.02
Enterprise Value to Revenue (EV/Rev)	6.75	8.79	7.24	5.71	5.07	4.34	3.42	3.35	2.80	3.14	3.84
Enterprise Value to EBITDA (EV/EBITDA)	77.92	123.87	143.11	156.96	252.94	578.84	0.00	0.00	0.00	0.00	0.00
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	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	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	29.33	45.10	37.83	36.41	40.46	38.52	26.85	29.78	36.41	48.65	65.74
Enterprise Value to Free Cash Flow (EV/FCFF)	109.77	306.29	248.41	1,402.76	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.90	0.95	0.99	1.02	1.06	1.09	1.11	1.11	1.11	1.60	1.55
Long-Term Debt to Equity	0.55	0.58	0.99	1.02	1.06	1.09	1.11	1.11	1.11	1.57	1.53
Financial Leverage	0.15	0.21	0.30	0.35	0.40	0.46	0.54	0.54	0.53	0.36	0.41
Leverage Ratio	2.55	2.58	2.62	2.63	2.67	2.94	2.88	2.85	2.88	2.76	2.68
Compound Leverage Factor	20.44	-1.82	1.76	1.94	2.12	2.43	2.61	2.61	0.06	2.56	2.55
Debt to Total Capital	47.47%	48.75%	49.84%	50.56%	51.36%	52.24%	52.63%	52.58%	52.69%	61.48%	60.82%
Short-Term Debt to Total Capital	18.35%	18.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.00%	0.99%
Long-Term Debt to Total Capital	29.12%	29.91%	49.84%	50.56%	51.36%	52.24%	52.63%	52.58%	52.69%	60.47%	59.83%
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%	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%	0.00%
Common Equity to Total Capital	52.53%	51.25%	50.16%	49.45%	48.64%	47.76%	47.37%	47.42%	47.31%	38.52%	39.18%
Debt to EBITDA	7.90	9.96	14.39	20.61	38.45	104.84	-40.07	-25.56	-22.11	-27.76	-70.76
Net Debt to EBITDA	0.09	0.88	2.41	4.90	11.61	34.73	-16.12	-10.82	-9.72	-9.67	-28.56
Long-Term Debt to EBITDA	4.84	6.11	14.39	20.61	38.45	104.84	-40.07	-25.56	-22.11	-27.30	-69.60
Debt to NOPAT	-27.20	-16.65	-11.97	-10.16	-8.87	-8.14	-6.96	-6.69	-6.68	-9.12	-10.62
Net Debt to NOPAT	-0.29	-1.47	-2.00	-2.42	-2.68	-2.70	-2.80	-2.83	-2.94	-3.18	-4.29
Long-Term Debt to NOPAT	-16.69	-10.21	-11.97	-10.16	-8.87	-8.14	-6.96	-6.69	-6.68	-8.97	-10.45
Altman Z-Score	3.64	4.66	3.77	2.86	2.43	2.00	1.48	1.43	1.11	1.05	1.31
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.43	1.40	2.50	2.44	2.38	2.23	2.25	2.25	2.12	2.77	3.00
Quick Ratio	1.27	1.23	2.21	2.14	2.04	1.92	1.90	1.89	1.76	2.50	2.70
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	64	49	52	41	31	28	46	41	27	16	9.98
Operating Cash Flow to CapEx	763.84%	695.35%	530.61%	495.19%	181.20%	541.64%	224.30%	139.91%	54.99%	803.79%	65.05%
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	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	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	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.56	0.56	0.55	0.54	0.53	0.49	0.48	0.48	0.46	0.41	0.41
Accounts Receivable Turnover	12.33	16.39	13.20	13.36	13.54	13.94	12.55	14.13	15.30	12.07	10.39
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	21.87	19.16	17.09	15.62	14.02	12.76	11.72	10.79	10.05	9.18	8.74
Accounts Payable Turnover	25.57	23.83	23.71	23.31	24.56	21.90	24.02	23.61	23.08	29.96	35.33
Days Sales Outstanding (DSO)	29.60	22.27	27.66	27.31	26.96	26.19	29.08	25.82	23.85	30.23	35.14
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	14.28	15.32	15.39	15.66	14.86	16.67	15.19	15.46	15.81	12.18	10.33
Cash Conversion Cycle (CCC)	15.32	6.95	12.26	11.66	12.10	9.52	13.89	10.37	8.04	18.05	24.81
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	551	561	577	598	613	611	638	649	654	652	700
Invested Capital Turnover	1.24	1.19	1.11	1.05	1.01	0.99	0.91	0.88	0.87	0.84	0.77
Increase / (Decrease) in Invested Capital	-62	-50	-61	-51	-41	-41	-62	-57	-42	-39	-29
Enterprise Value (EV)	4,864	6,123	4,891	3,743	3,230	2,708	2,083	2,005	1,637	1,779	2,115
Market Capitalization	4,859	6,079	4,809	3,626	3,082	2,545	1,886	1,798	1,422	1,545	1,845
Book Value per Share	$8.98	$8.57	$8.21	$8.00	$7.82	$7.65	$7.55	$7.58	$7.60	$7.29	$7.51
Tangible Book Value per Share	($0.95)	($1.49)	($1.97)	($2.34)	($2.74)	($3.17)	($3.43)	($3.54)	($3.70)	($4.16)	($3.99)
Total Capital	1,038	1,010	987	972	956	939	931	931	928	1,088	1,098
Total Debt	493	492	492	491	491	490	490	489	489	669	668
Total Long-Term Debt	302	302	492	491	491	490	490	489	489	658	657
Net Debt	5.32	44	82	117	148	162	197	207	215	233	270
Capital Expenditures (CapEx)	5.70	6.19	8.15	7.28	7.42	6.75	7.47	9.34	7.08	5.46	10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-110	-99	-94	-84	-77	-92	-72	-72	-76	-86	-54
Debt-free Net Working Capital (DFNWC)	377	350	316	290	266	236	221	210	198	350	344
Net Working Capital (NWC)	187	160	316	290	266	236	221	210	198	339	333
Net Nonoperating Expense (NNE)	-2.77	-0.30	2.84	3.47	3.91	5.47	6.95	7.05	-14	9.67	8.83
Net Nonoperating Obligations (NNO)	5.32	44	82	117	148	162	197	207	215	233	270
Total Depreciation and Amortization (D&A)	21	23	25	25	24	25	25	24	23	23	22
Debt-free, Cash-free Net Working Capital to Revenue	-15.33%	-14.18%	-13.94%	-12.87%	-12.07%	-14.66%	-11.86%	-12.02%	-12.96%	-15.15%	-9.89%
Debt-free Net Working Capital to Revenue	52.33%	50.27%	46.71%	44.27%	41.73%	37.85%	36.22%	35.12%	33.91%	61.86%	62.42%
Net Working Capital to Revenue	25.89%	22.94%	46.71%	44.27%	41.73%	37.85%	36.22%	35.12%	33.91%	59.93%	60.45%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.08	$0.01	($0.20)	($0.22)	($0.23)	($0.30)	($0.40)	($0.41)	($0.01)	($0.57)	($0.48)
Adjusted Weighted Average Basic Shares Outstanding	61.22M	60.11M	60.31M	60.16M	59.45M	58.35M	58.49M	58.29M	57.89M	57.30M	57.36M
Adjusted Diluted Earnings per Share	$0.07	$0.01	($0.20)	($0.22)	($0.23)	($0.30)	($0.40)	($0.41)	($0.01)	($0.57)	($0.48)
Adjusted Weighted Average Diluted Shares Outstanding	64.82M	60.11M	60.31M	60.16M	59.45M	58.35M	58.49M	58.29M	57.89M	57.30M	57.36M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	62.30M	60.73M	60.40M	60.28M	60.10M	59.07M	58.64M	58.45M	58.20M	57.74M	57.52M
Normalized Net Operating Profit after Tax (NOPAT)	3.81	0.58	-6.77	-8.92	-9.14	-10	-14	-15	-13	-18	-15
Normalized NOPAT Margin	2.01%	0.32%	-3.87%	-5.16%	-5.52%	-6.31%	-8.97%	-9.67%	-8.80%	-11.95%	-10.27%
Pre Tax Income Margin	2.76%	1.06%	-5.45%	-6.35%	-7.42%	-9.88%	-14.30%	-14.98%	-0.33%	-21.62%	-18.88%
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	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	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	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	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%	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%	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. View Q2's forecast to see where analysts expect Q2 to go next.

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 5/28/2025 by MarketBeat.com Staff

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Q2 (QTWO) Financials

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Q2 (QTWO) Financials

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