Q2 Holdings, the Austin-based digital banking software provider for banks and credit unions, reported third-quarter 2026 revenue of $225.8 million on 28 October 2026, up 12%, with a record adjusted EBITDA margin of 30%, and appointed chief financial officer Jonathan Price as co-CEO alongside Matt Flake from 29 October, according to its results release. Fintechbits checked Q2’s last fraud disclosure: its account takeover report, covered on 17 October 2026, gave shares and ratios but no signal counts, and the Q2 Holdings results again describe fraud demand only as roughly twice expectations.

What Q2 Holdings reported

Profitability was the headline. GAAP net income more than doubled to $33.2 million from $15.0 million a year earlier, adjusted EBITDA reached $67.8 million, and Q2 generated $55.0 million of free cash flow while buying back $38.8 million of shares and carrying no debt. Subscription annualized recurring revenue rose 13.5% to $846.0 million, and committed backlog stood at about $2.8 billion.

Q2 signed seven enterprise and Tier 1 contracts in the quarter, including a net new Tier 1 credit union for commercial digital banking. It raised full-year guidance and expects fourth-quarter revenue of $226.0 million to $230.0 million.

Matt Flake, chairman and chief executive, said early-adopter sign-ups for Q2’s AI-driven fraud product were “roughly twice what we initially expected”. That is a ratio with no base, and Q2’s account takeover report worked the same way. Fraud tooling is where digital banking vendors now compete, as Fintechbits’ look at AI fraud models sets out, and Q2 Holdings would make a stronger case by publishing customer counts.

Making the CFO co-CEO is a vote for the margin story, and for the person who delivered it. Price will hold both jobs until a new finance chief arrives, which stretches one executive across strategy and reporting at the same time.