Matt Flake, President and CEO of Q2 Holdings Inc (QTWO) shared the company’s competitive advantages and projected continued growth at the 34th annual Canaccord Genuity Global Growth Conference held this week in Boston.
The company, which went public in 2013, offers online solutions for community banking customers. Flake says no other companies are occupying the space at Q2′s level.
“People want to bank locally,” Flake explains. “They just want their local institutions to have the technology to meet their expectations.”
FOR THE LATEST TWST BANKING REVIEW, CLICK HERE.
Flake says there are 13,500 financial institutions that don’t have the ability to develop their own online banking platforms. To date, Q2 has less than 3% market penetration with just under 350 financial institutions, which represents 3.9 million account holders logging in over 40 million times per month and conducting over $200 billion in transactions. Flake estimates 30% market growth for Q2 annually.
Jennifer Harris, Q2’s CFO, who joined Flake at the conference, reported 35% guided growth year over year since 2007, when the company published its first earnings report. She says there are three key growth drivers: continuing to acquire new customers, increase adoption of solutions within the existing customer base, and cross-selling products to existing customers.
According to Harris, Q2’s margins are just over 40% today, but the company believes that will go to 60% quickly.
FOR THE FULL PRESENTATION, CLICK HERE.
Roy Burton, CEO for Dialight Plc (LON:DIA), Presents at Canaccord Genuity Global Growth Conference
August 19, 2014
Clive Johnson, President/CEO of B2Gold Corp. (TSE:BTO), Presents at Canaccord Genuity Global Resources Conference
October 17, 2014
Yves J. Ribeill, President and CEO, Scynexis, Inc. (SCYX), Presents at Canaccord Genuity Growth Conference
August 18, 2014
Francois Nader, President and CEO of NPS Pharmaceuticals, Inc. (NPSP), Presents at Canaccord Genuity Growth Conference
August 19, 2014
Dr. Daniel Gold, President and CEO of MEI Pharma Inc (MEIP), Presents at Canaccord Genuity Growth Conference
August 19, 2014
