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        <filerInfo>
            <filer>
                <filerCredentials>
                    <cik>0001597592</cik>
                    <ccc>XXXXXXXX</ccc>
                </filerCredentials>
            </filer>
            <liveTestFlag>LIVE</liveTestFlag>



        </filerInfo>
    </headerData>
    <formData>
        <issuerInfo>
            <issuerCik>0001410384</issuerCik>
            <issuerName>Q2 HOLDINGS, INC.</issuerName>
            <secFileNumber>001-36350</secFileNumber>
            <issuerAddress>
                <ns2:street1>10355 Pecan Park Boulevard</ns2:street1>
                <ns2:city>Austin</ns2:city>
                <ns2:stateOrCountry>TX</ns2:stateOrCountry>
                <ns2:zipCode>78729</ns2:zipCode>
            </issuerAddress>
            <issuerContactPhone>(833) 444-3469</issuerContactPhone>
            <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>MATTHEW P FLAKE</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <relationshipsToIssuer>
                <relationshipToIssuer>Officer</relationshipToIssuer>
                <relationshipToIssuer>Director</relationshipToIssuer>
            </relationshipsToIssuer>
        </issuerInfo>
        <securitiesInformation>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <brokerOrMarketmakerDetails>
                <name>Morgan Stanley Smith Barney LLC Executive Financial Services</name>
                <address>
                    <ns2:street1>1 New York Plaza</ns2:street1>
                    <ns2:street2>38th Floor</ns2:street2>
                    <ns2:city>New York</ns2:city>
                    <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                    <ns2:zipCode>10004</ns2:zipCode>
                </address>
            </brokerOrMarketmakerDetails>
            <noOfUnitsSold>45000</noOfUnitsSold>
            <aggregateMarketValue>1848906.00</aggregateMarketValue>
            <noOfUnitsOutstanding>58635005</noOfUnitsOutstanding>
            <approxSaleDate>02/05/2024</approxSaleDate>
            <securitiesExchangeName>NYSE</securitiesExchangeName>
        </securitiesInformation>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>02/05/2024</acquiredDate>
            <natureOfAcquisitionTransaction>Stock Option Exercise</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>45000</amountOfSecuritiesAcquired>
            <paymentDate>02/05/2024</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>MATTHEW P FLAKE</name>
                <address>
                    <ns2:street1>10355 Pecan Park Boulevard</ns2:street1>
                    <ns2:city>Austin</ns2:city>
                    <ns2:stateOrCountry>TX</ns2:stateOrCountry>
                    <ns2:zipCode>78729</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>02/02/2024</saleDate>
            <amountOfSecuritiesSold>46937</amountOfSecuritiesSold>
            <grossProceeds>1980924.45</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>MATTHEW P FLAKE</name>
                <address>
                    <ns2:street1>10355 Pecan Park Boulevard</ns2:street1>
                    <ns2:city>Austin</ns2:city>
                    <ns2:stateOrCountry>TX</ns2:stateOrCountry>
                    <ns2:zipCode>78729</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>01/23/2024</saleDate>
            <amountOfSecuritiesSold>6352</amountOfSecuritiesSold>
            <grossProceeds>285840.00</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>MATTHEW P FLAKE</name>
                <address>
                    <ns2:street1>10355 Pecan Park Boulevard</ns2:street1>
                    <ns2:city>Austin</ns2:city>
                    <ns2:stateOrCountry>TX</ns2:stateOrCountry>
                    <ns2:zipCode>78729</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>01/22/2024</saleDate>
            <amountOfSecuritiesSold>7674</amountOfSecuritiesSold>
            <grossProceeds>345330.00</grossProceeds>
        </securitiesSoldInPast3Months>
        <noticeSignature>
            <noticeDate>02/05/2024</noticeDate>
            <planAdoptionDates>
                <planAdoptionDate>06/16/2023</planAdoptionDate>
            </planAdoptionDates>
            <signature>/s/ Matthew P Flake</signature>
        </noticeSignature>
    </formData>
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144
0001597592
XXXXXXXX
LIVE
0001410384
Q2 HOLDINGS, INC.
001-36350
10355 Pecan Park Boulevard
Austin
TX
78729
(833) 444-3469
MATTHEW P FLAKE
Officer
Director
Common
Morgan Stanley Smith Barney LLC Executive Financial Services
1 New York Plaza
38th Floor
New York
NY
10004
45000
1848906.00
58635005
02/05/2024
NYSE
COMMON
02/05/2024
Stock Option Exercise
ISSUER
N
45000
02/05/2024
Cash
N
MATTHEW P FLAKE
10355 Pecan Park Boulevard
Austin
TX
78729
Common
02/02/2024
46937
1980924.45
MATTHEW P FLAKE
10355 Pecan Park Boulevard
Austin
TX
78729
Common
01/23/2024
6352
285840.00
MATTHEW P FLAKE
10355 Pecan Park Boulevard
Austin
TX
78729
Common
01/22/2024
7674
345330.00
02/05/2024
06/16/2023
/s/ Matthew P Flake