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. How we score · Editorial policy
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. People who build TrendMatrix, or entities they control, may hold positions, long or short, in securities it covers, and may trade them at any time. Positions are not disclosed individually. Verdicts are generated by an automated model applied by the same rules to every covered stock, and are not adjusted for any position held by the people who build TrendMatrix. We do not accept payment from issuers for coverage.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
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 2026-07-03The 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.