Price to help Q2 advance its profitable growth
strategy
Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital
transformation solutions for financial services, today announced
the appointment of Jonathan A. Price as its Chief Financial Officer
to be effective November 2024.
Price brings nearly 20 years of experience in corporate finance
and operating leadership roles across investment banking, corporate
strategy and the technology and financial services software
industries. Price has significant leadership experience at Q2,
currently serving as Executive Vice President, Strategy &
Emerging Businesses, where he has been instrumental in guiding and
shaping Q2’s strategic initiatives with a view to creating
long-term value while delivering on the company’s mission. Since
joining Q2 in February 2018, Price has also led Q2’s corporate
development strategy and taken on increasing roles of
responsibility, including leading the business development function
since January 2019, and overseeing the company’s emerging
businesses operations, including Helix, Q2 Innovation Studio and
Alt-FI lending, since September 2020, with a focus on accelerating
innovation and growth across the company.
“Jonathan’s contributions to Q2 over the past six years have
been critical to our strategy and success and he is ideally suited
to help guide Q2 as CFO in its next phase of growth,” said Q2 CEO
Matt Flake. “I look forward to continuing to work closely with
Jonathan to leverage his corporate finance background, operational
experience and strategic mindset as we continue to execute against
our profitable growth plan and drive long-term shareholder
value.”
“I’m extremely honored and humbled by the opportunity to lead
such a critical function for Q2,” Price said. “During my time at
Q2, I have been privileged to work with incredibly talented,
passionate and driven teams across the company. I look forward to
helping shape the next phase of our growth and capitalizing on the
tremendous opportunities ahead of us.”
Price will succeed David Mehok who will be departing Q2 to spend
more time with family. Mehok will remain as Q2’s Chief Financial
Officer through the filing of its Quarterly Report on Form 10-Q to
facilitate a smooth transition.
“David’s many contributions to Q2 over the past four years
helped shape the company we are today and were integral to our
profitable growth achievements,” Flake said. “On behalf of Q2, I
thank him for his leadership and wish him great success in his
future endeavors.”
Responsibility of the company’s emerging businesses operations
will now be transitioned to Kirk Coleman, Q2’s President.
About Q2 Holdings, Inc.
Q2 is a leading provider of digital transformation solutions for
financial services, serving banks, credit unions, alternative
finance companies, and fintechs in the U.S. and internationally. Q2
enables its financial institutions and fintech companies to provide
comprehensive, data-driven digital engagement solutions for
consumers, small businesses and corporate clients. Headquartered in
Austin, Texas, Q2 has offices worldwide and is publicly traded on
the NYSE under the stock symbol QTWO. To learn more, please visit
Q2.com. Follow us on LinkedIn and X to stay up to date.
Forward-looking Statements
This press release contains forward-looking statements,
including statements about: Price’s experience, qualities and
abilities; Q2’s profitable growth strategy and related success and
future advancements thereof; Q2’s next phase of growth; our ability
to drive long-term stockholder value; and, opportunities ahead of
us and our ability to capitalize on them. The forward-looking
statements contained in this press release are based upon our
historical performance and its current plans, estimates, and
expectations and are not a representation that such plans,
estimates or expectations will be achieved. Factors that could
cause actual results to differ materially from those described
herein include risks related to: (a) global macroeconomic
uncertainties and challenges in the financial services industry and
credit markets, including as a result of recent bank failures,
inflation, higher interest rates and any potential additional
monetary policy measures and their potential impacts on Q2's
prospects' and customers' operations, the timing of prospect and
customer implementations and purchasing decisions, Q2's business
sales cycles and on account holder or end user, or End User, usage
of Q2's solutions; (b) the risk of increased or new competition in
Q2's existing markets and as Q2 enters new markets or new segments
of existing markets, or as Q2 offers new solutions; (c) the risks
associated with the development of Q2's solutions and changes to
the market for Q2's solutions compared to Q2's expectations; (d)
quarterly fluctuations in Q2's operating results relative to Q2's
expectations and guidance and the accuracy of Q2's forecasts; (e)
the risks and increased costs associated with managing growth and
global operations, including hiring, training, retaining and
motivating employees to support such growth, particularly in light
of recent macroeconomic challenges, including increased competition
for talent, employee turnover, labor shortages and wage inflation;
(f) the risks associated with Q2's transactional business which are
typically driven by End-User behavior and can be influenced by
external drivers outside of Q2's control; (g) the risks associated
with effectively managing Q2's business and cost structure in an
uncertain macroeconomic environment, including as a result of
challenges in the financial services industry and the effects of
seasonality and unexpected trends; (h) the risks associated with
geopolitical uncertainties, including the heightened risk of
state-sponsored cyberattacks or cyber fraud on financial services
and other critical infrastructure, and political uncertainty or
discord, including related to the 2024 U.S. presidential election;
(i) the risks associated with accurately forecasting and managing
the impacts of any macroeconomic downturn or challenges in the
financial services industry on Q2's customers and their End Users,
including in particular the impacts of any downturn on financial
technology companies, or FinTechs, or alternative finance
companies, or Alt-FIs, and Q2's arrangements with them, which
represent a newer market opportunity for Q2, a more complex revenue
model for Q2 and which may be more vulnerable to an economic
downturn than Q2's financial institution customers; (j) the
challenges and costs associated with selling, implementing and
supporting Q2's solutions, particularly for larger customers with
more complex requirements and longer implementation processes,
including risks related to the timing and predictability of sales
of Q2's solutions and the impact that the timing of bookings may
have on Q2's revenue and financial performance in a period; (k) the
risk that errors, interruptions or delays in Q2's solutions or Web
hosting negatively impacts Q2's business and sales; (l) the risks
associated with cyberattacks, financial transaction fraud, data and
privacy breaches and breaches of security measures within Q2's
products, systems and infrastructure or the products, systems and
infrastructure of third parties upon which Q2 relies and the
resultant costs and liabilities and harm to Q2's business and
reputation and Q2's ability to sell Q2's solutions; (m) the
difficulties and risks associated with developing and selling
complex new solutions and enhancements, including those using
artificial intelligence, or AI, with the technical and regulatory
specifications and functionality required by Q2's customers and
relevant governmental authorities; (n) regulatory risks, including
risks related to evolving regulation of AI and machine learning and
the receipt, collection, storage, processing and transfer of data;
(o) the risks associated with Q2's sales and marketing
capabilities, including partner relationships and the length, cost
and unpredictability of Q2's sales cycle; (p) the risks inherent in
third-party technology and implementation partnerships that could
cause harm to Q2's business; (q) the risk that Q2 will not be able
to maintain historical contract terms such as pricing and duration;
(r) the general risks associated with the complexity of Q2's
customer arrangements and Q2's solutions; (s) the risks associated
with integrating acquired companies and successfully selling and
maintaining their solutions; (t) litigation related to intellectual
property and other matters and any related claims, negotiations and
settlements; (u) the risks associated with further consolidation in
the financial services industry; (v) the risks associated with
selling Q2's solutions internationally and with the continued
expansion of Q2's international operations; and (w) the risk that
Q2's debt repayment obligations may adversely affect Q2's financial
condition and that Q2 may not be able to obtain capital when
desired or needed on favorable terms.
Additional information relating to the uncertainty affecting the
Q2 business is contained in Q2's filings with the Securities and
Exchange Commission. These documents are available on the SEC
Filings section of the Investor Relations section of Q2's website
at http://investors.Q2.com/. These forward-looking statements
represent Q2's expectations as of the date of this press release.
Subsequent events may cause these expectations to change, and Q2
disclaims any obligations to update or alter these forward-looking
statements in the future, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240923053827/en/
MEDIA CONTACT: Jean Kondo Q2 Holdings, Inc. M:
+1-510-823-4728 jean.kondo@Q2.com
INVESTOR CONTACT: Josh Yankovich Q2 Holdings, Inc. O:
+1-512-682-4463 josh.yankovich@Q2.com
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