Q2 Holdings (QTWO) Gross Margin (2013 - 2026)
Q2 Holdings' Gross Margin was 59.25% in Q2 2026, up 5.66 percentage points from 53.58% a year earlier and up 0.16 percentage points from the prior quarter.
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Analysis
Q2 Holdings (QTWO) Gross Margin (2013 - 2026) Analysis & Trends
On a trailing twelve-month basis, Q2 Holdings' Gross Margin was 56.99% through Jun 30, 2026, up 4.37 percentage points year-over-year; for FY2025, it came in at 54.06%, up 3.16 percentage points from FY2024.
- Gross Margin has now increased for five consecutive years, with a five-year change of +10.71 percentage points (FY2020 to FY2025).
- In earlier years, Gross Margin was 50.90% in FY2024 (+2.44 pp), 48.45% in FY2023 (+3.14 pp), 45.32% in FY2022 (+0.19 pp) and 45.12% in FY2021 (+1.77 pp).
- The Q2 2026 figure marks the highest quarterly Gross Margin in data going back to Q1 2013.
- Compared with a year earlier, Gross Margin has increased for 17 straight quarters, with an average year-over-year change of +3.71 percentage points over the last eight quarters.
- The best year-over-year quarter for Gross Margin over five years was Q1 2026 (a gain of 5.85 percentage points); the worst was Q1 2022 (a drop of 0.61 percentage points).
- Per Business Quant data, QTWO's Gross Margin in the three quarters before Q2 2026 was 59.08% (Q1 2026), 55.37% (Q4 2025) and 53.96% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 50.59 Bn | 7.40 Bn | - | - |
| 2 | PayPal Holdings | 46.79 Bn | 5.01 Bn | - | - |
| 3 | Block | 44.05 Bn | 15.31 Bn | 3.17 Bn | 47.84% |
| 4 | Iren | 31.74 Bn | 19.34 Bn | 103.89 Mn | 75.71% |
| 5 | Corpay | 26.01 Bn | 16.21 Bn | - | - |
| 6 | Fiserv | 24.47 Bn | 21.17 Bn | 2.90 Bn | 54.74% |
| 7 | Global Payments | 22.51 Bn | 952.73 Mn | 2.03 Bn | 61.04% |
| 8 | Bitmine Immersion Technologies | 15.56 Bn | 12.94 Bn | 40.81 Mn | 87.70% |
| 9 | Guidewire Software | 11.90 Bn | 8.47 Bn | 269.68 Mn | 65.60% |
| 10 | Q2 Holdings | 3.44 Bn | 1.95 Bn | 130.20 Mn | 59.25% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 59.25% |
| Mar 31, 2026 | 59.08% |
| Dec 31, 2025 | 55.37% |
| Sep 30, 2025 | 53.96% |
| Jun 30, 2025 | 53.58% |
| Mar 31, 2025 | 53.23% |
| Dec 31, 2024 | 52.63% |
| Sep 30, 2024 | 50.88% |
| Jun 30, 2024 | 50.22% |
| Mar 31, 2024 | 49.70% |
| Dec 31, 2023 | 50.21% |
| Sep 30, 2023 | 47.84% |
| Jun 30, 2023 | 47.78% |
| Mar 31, 2023 | 47.90% |
| Dec 31, 2022 | 45.18% |
| Sep 30, 2022 | 46.19% |
| Jun 30, 2022 | 44.82% |
| Mar 31, 2022 | 45.05% |
| Dec 31, 2021 | 45.10% |
| Sep 30, 2021 | 44.98% |
API Access
Q2 Holdings Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=QTWO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "QTWO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=QTWO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();