Currently at all-time peak NRR of 113%.
Q2 Holdings is above the Fintech SaaS Public median by +6pp (cell median: 107%)
Q2 Holdings (QTWO) is a fintech saas company at the public stage. As of its most recent disclosure (FY2025-Q4), Q2 Holdings reported a Net Revenue Retention rate of 113% - a mid-pack result for B2B SaaS at this segment.
Q2 Holdings is currently at or near its all-time NRR peak.
Within its peer set (fintech saas companies at public stage in the $100k-$500k acv band), Q2 Holdings's NRR is above the cell median of 107%. Compare against the full peer cell aggregate for distribution and top performers.
Contract shape and forward-booked revenue.
Health scores, usage, and time-to-value when disclosed.
Revenue, ARR, and team-size denominators for the productivity ratios.
CS team segments: Tier 1 · Enterprise
CSM model: account-named
Education programs: CONNECT 26
Customer Advisory Board: Yes
Top customer exec: Kirk Coleman - Chief Business Officer (since 2025)
Computed from the data above. Shows where value comes from and where leakage hides.
Named CS initiatives across recent disclosures (newest first).
An API and SDK-based open technology platform allowing customers to develop unique extensions and integrations.
"Q2 Innovation Studio... allows our financial institution customers and other partners to develop unique extensions"
A foundational component enabling faster product delivery and better engagement, included in nearly every net new deal.
"In 2025, nearly every net new digital banking deal included Innovation Studio"
Completed migration to AWS to drive long-term margin expansion and operational efficiency.
"cloud migration, which we completed in January 2026."
Internal AI assistant extension that indexes Q2 knowledge for customer self-service and faster support.
"customer-facing extension of our internal AI assistant... help our customers self-serve and get faster support"
Product embedding digital banking functionality directly into customers' ERP systems.
"At Connect, we announced a new Direct ERP integration product"
AI-assisted development capability allowing customers to build on the platform using natural language.
"The first is Q2 Code, our AI-assisted development capability which improves efficiency."
New set of AI capabilities focused on real-time account takeover prevention.
"The second is a new set of AI-driven fraud capabilities focused on account takeover."
AI-driven assistant embedded in digital banking for natural language workflows.
"We formally announced Q2 Assistant from the keynote stage... designed to embed AI directly into digital banking."
Challenges acknowledged by management. Useful peer signals - your team is probably not alone.
Risks from mergers and acquisitions in the banking sector and instability in the financial services industry.
"impact of and our ability to respond to global economic uncertainties... including as a result of mergers and acquisitions"
Acts of war or military conflict increasing risks of cyberattacks and payment delays.
"Continued heightened geopolitical instability... has created additional uncertainty in the marketplace."
Mergers and acquisitions within the banking sector impacting customer operations and purchasing decisions.
"impact of... changes in the financial services industry... including as a result of mergers and acquisitions"
Overall trend of reduction in customer demand for professional services due to economic outlook.
"We continue to observe an overall trend of reduction in customer demand for certain discretionary aspects... professional services"
Cash levels declined due to maturing debt and share repurchases.
"cash levels have declined over the past couple of quarters due to the maturing of debt"
Revenue churn increased to 5.2% due to higher M&A activity in the banking sector.
"revenue churn for 2025 was 5.2% compared to 4.4% in 2024, reflecting an increase in overall M&A activity"
Curated quotes about customer outcomes, retention, renewals.
"Our focus on customer experience seems to be a big differentiator for us."
"Our customer success team does a fantastic job of going out and making sure... they understand all that we offer."
"We believe that delivery of consistent, high-quality customer support is a significant driver of purchasing and renewal decisions."
"We're seeing the term length of expansion deals increase... a signal of our customers' long-term commitment to us."
"The churn targets that we put out at the beginning of the year still hold true."
"We view the renewal success as a strong indicator of customer satisfaction, the strength and differentiation of our platform."
Side-by-side NRR, customer cohorts, commercial structure, and CS motion.
Q2 Holdings appears on 4 of our retention leaderboards.
Free to embed on your blog or board deck. Includes a small backlink to cust.co.
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| Period | NRR | GRR | Source type | Filing |
|---|---|---|---|---|
| FY2025-Q4 | 113% | - | earnings-call-transcript | source ↗ |
| FY-2025 | 113% | - | 10-K | source ↗ |
| FY2025-Q3 | 109% | - | 10-Q-mdna | source ↗ |
| FY2024-Q4 | 109% | - | earnings-call-transcript | source ↗ |
| FY-2024 | 109% | - | 10-K | source ↗ |
| FY2023-Q4 | 108% | - | earnings-call-transcript | source ↗ |
| FY-2023 | 108% | - | 10-K | source ↗ |
| FY-2022 | 110% | - | 10-Q-mdna | source ↗ |
| FY2021-Q2 | 113% | - | 10-K | source ↗ |
Generate a live retention report against Q2 Holdings and your full peer cell. Ungated. Downloadable as PDF.