HIGHBuilt-inCustomer
financial services industry
“10-K Item 1A: 'We derive substantially all of our revenues from customers in the financial services industry, and in particular RCFIs'”
QTWO · Concentration risk · 10-K extracted
Q2 Holdings (QTWO) concentration risks
Updated
The most significant concentration Q2 Holdings discloses is financial services industry, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Q2 Holdings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH1
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is dominated by a single industry vertical: it derives substantially all of its revenues from customers in the financial services industry, and specifically from regional and community financial institutions. By disclosed size this is a high-share exposure, and its character is structural — the business was purpose-built around this vertical, so the concentration reflects the design of the go-to-market model rather than a transient dependency on a few names. Because no individual customer is named and no percentage is disclosed beyond "substantially all," the exposure is broad across the sector rather than pinpointed to a single relationship. The practical risk is macro-sectoral: a prolonged contraction in bank technology spending, consolidation among regional financial institutions, or a shift in regulatory posture that constrains bank IT budgets could weigh on demand in ways that cannot be easily offset by pivoting to other end-markets. There are no disclosed supplier, geographic, or counterparty concentrations layered on top. On balance, the profile is narrow but coherent — the high-share vertical tilt is the dominant variable to monitor, and it is well-disclosed. Investors should track conditions in the regional banking sector and the pace of core-system modernization as the primary leading indicators for demand.
For the engine’s reasoning on QTWO’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Software - Application
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ADSK | Autodesk, Inc. | 1 | 1 | 1 | 3 |
| ADEA | Adeia Inc. | 1 | 0 | 0 | 1 |
| QTWO● | Q2 Holdings, Inc. | 1 | 0 | 0 | 1 |
| AGYS | Agilysys, Inc. | 0 | 2 | 0 | 2 |
| ADBE | Adobe Inc. | 0 | 0 | 0 | 0 |
| ADP | Automatic Data Processing, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.