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Q2 Holdings ups FY’16 outlook, issues Q2 guidance

Q2 Holdings Inc.has boosted its outlookfor the full year and provided guidance for the second quarter.

The company now expects total revenue of $146.0 million to $148.4million for 2016, and adjusted EBITDA to be negative $3.2 million to negative $4.2million. It previously expected total revenue of $144.5 million to $146.5 millionand adjusted EBITDA of negative $3.5 million to negative $5 million.

For the second quarter, the company anticipates total revenueof $35.3 million to $35.7 million and adjusted EBITDA of negative $2.5 million tonegative $2.9 million.

For the first quarter, the company reported a GAAP net loss of$9.7 million, or 25 cents per share, compared with a net loss of $4.6 million, or13 cents per share, in the prior-year period. On a non-GAAP basis, the company recordeda net loss of $4.4 million, or 11 cents per share, versus a net loss of $3.3 million,or 9 cents per share, a year earlier.