Q2 Holdings, Inc. reported $2.77B of remaining performance obligations at 30 Sep 2026, up 10% from a year earlier and up 0% from the previous quarter. That is 3.2 years of trailing revenue already under contract. Book-to-bill last quarter: 1.04.
Net new backlog added in the latest quarter: $10.0M.
Over the last twelve months it turned about 33% of its opening backlog into revenue (12-month conversion).
The company reports 54% of the backlog due within the first 24 months.
Customer prepayments (contract liabilities) cover 7.1% of the backlog.
Twelve-month book-to-bill: 1.29, i.e. 1.29 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -3 points — revenue is catching up with orders.
By backlog size it ranks 157th among US filers the cockpit tracks.
Q2 Holdings, Inc. backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$2.77B
$870M
3.2 yrs
$198M
30 Jun 2026
$2.76B
$846M
3.3 yrs
$187M
31 Mar 2026
$2.74B
$822M
3.3 yrs
$197M
31 Dec 2025
$2.69B
$795M
3.4 yrs
$155M
30 Sep 2025
$2.52B
$770M
3.3 yrs
$170M
30 Jun 2025
$2.36B
$743M
3.2 yrs
$179M
31 Mar 2025
$2.30B
$721M
3.2 yrs
$174M
31 Dec 2024
$2.22B
$696M
3.2 yrs
$138M
30 Sep 2024
$2.03B
$676M
3.0 yrs
$141M
30 Jun 2024
$1.96B
$656M
3.0 yrs
$134M
31 Mar 2024
$1.92B
$637M
3.0 yrs
$132M
31 Dec 2023
$1.84B
$625M
2.9 yrs
$119M
Questions
What is Q2 Holdings, Inc.'s backlog?
Q2 Holdings, Inc. reported $2.77B of remaining performance obligations at 30 Sep 2026, up 10% from a year earlier and up 0% from the previous quarter. That is 3.2 years of trailing revenue already under contract. Book-to-bill last quarter: 1.04.
How fast does Q2 Holdings, Inc.'s backlog turn into revenue?
Over the last twelve months Q2 Holdings, Inc. recognised revenue equal to about 33% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.