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HubSpot (HUBS) Financials

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$220.43 +4.52 (+2.09%)
Closing price 03:59 PM Eastern
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$221.10 +0.67 (+0.30%)
As of 05:25 PM Eastern
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Annual Income Statements for HubSpot

Annual Income Statements for HubSpot

This table shows HubSpot's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -46 -46 -40 -64 -54 -85 -78 -107 -165 4.63 46
Consolidated Net Income / (Loss)		 -46 -46 -40 -64 -54 -85 -78 -107 -165 4.63 46
Net Income / (Loss) Continuing Operations		 -46 -46 -40 -64 -54 -85 -78 -107 -165 4.63 46
Total Pre-Tax Income 		-46 -45 -50 -62 -51 -81 -74 -98 -151 29 69
Total Operating Income		 -46 -45 -40 -48 -47 -51 -55 -103 -201 -68 7.38
Total Gross Profit		 134 209 300 413 545 716 1,042 1,423 1,832 2,234 2,623
Total Revenue		 182 271 376 513 675 883 1,301 1,731 2,170 2,628 3,131
Operating Revenue		 182 271 376 513 675 883 1,301 1,731 2,170 2,628 3,131
Total Cost of Revenue		 48 62 76 100 130 167 259 308 338 393 508
Operating Cost of Revenue		 48 62 76 100 130 167 259 308 338 393 508
Total Operating Expenses		 180 254 340 461 592 767 1,097 1,526 2,033 2,302 2,615
Selling, General & Admin Expense		 35 45 57 76 93 109 145 198 250 300 326
Marketing Expense		 113 163 213 267 341 452 650 886 1,069 1,219 1,379
Research & Development Expense		 32 46 70 118 158 206 302 442 618 779 906
Restructuring Charge		 - - - - - - 0.00 0.00 97 3.99 4.04
Total Other Income / (Expense), net		 0.83 -0.37 -9.90 -14 -3.78 -30 -19 4.41 50 96 62
Interest Expense		 0.19 0.27 13 21 23 37 30 3.76 3.80 3.72 0.88
Interest & Investment Income		 0.39 0.85 3.84 9.18 19 7.77 1.17 15 59 83 66
Other Income / (Expense), net		 0.63 -0.96 -0.56 -1.49 -0.39 -0.71 10 -6.83 -4.67 17 -3.26
Income Tax Expense		 0.41 0.53 -10 1.87 2.97 4.22 4.02 8.89 14 24 24
Basic Earnings per Share		 ($1.39) ($1.29) ($1.08) ($1.66) ($1.28) ($1.90) ($1.66) ($2.23) ($3.30) $0.09 $0.88
Weighted Average Basic Shares Outstanding		 33.22M 35.20M 36.83M 38.53M 42.03M 44.76M 46.89M 48.07M 49.88M 51.18M 52.46M
Diluted Earnings per Share		 ($1.39) ($1.29) ($1.08) ($1.66) ($1.28) ($1.90) ($1.66) ($2.23) ($3.30) $0.09 $0.86
Weighted Average Diluted Shares Outstanding		 33.22M 35.20M 36.83M 38.53M 42.03M 44.76M 46.89M 48.07M 49.88M 51.82M 53.19M
Weighted Average Basic & Diluted Shares Outstanding		 33.22M 35.20M 36.83M 38.53M 42.03M 44.76M 46.89M 49.39M 50.67M 52.15M 52.74M

Quarterly Income Statements for HubSpot

This table shows HubSpot's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -12 5.93 -14 8.15 4.98 -22 -3.26 17 54 33 43
Consolidated Net Income / (Loss)		 -12 5.93 -14 8.15 4.98 -22 -3.26 17 54 33 43
Net Income / (Loss) Continuing Operations		 -12 5.93 -14 8.15 4.98 -22 -3.26 17 54 33 43
Total Pre-Tax Income 		-8.05 7.72 -2.68 11 13 -9.87 -5.46 23 62 39 50
Total Operating Income		 -23 -23 -24 -9.63 -11 -27 -25 11 48 28 43
Total Gross Profit		 494 522 542 570 600 599 639 676 709 735 751
Total Revenue		 582 617 637 670 703 714 761 810 847 881 912
Operating Revenue		 582 617 637 670 703 714 761 810 847 881 912
Total Cost of Revenue		 87 95 96 99 103 115 122 134 138 146 161
Operating Cost of Revenue		 87 95 96 99 103 115 122 134 138 146 161
Total Operating Expenses		 518 546 566 580 611 627 663 665 661 707 708
Selling, General & Admin Expense		 70 69 73 78 81 79 85 81 82 86 83
Marketing Expense		 281 300 294 310 315 327 340 355 358 386 398
Research & Development Expense		 163 176 198 191 214 220 237 228 221 234 226
Restructuring Charge		 3.55 0.78 1.08 0.99 1.14 1.08 1.11 1.04 0.81 1.09 1.08
Total Other Income / (Expense), net		 15 31 21 20 24 18 19 12 13 11 6.25
Interest Expense		 0.98 0.94 0.90 0.94 0.95 0.64 0.23 0.00 0.00 0.25 0.40
Interest & Investment Income		 19 19 20 22 22 21 18 14 13 13 9.41
Other Income / (Expense), net		 -2.55 13 1.78 -0.57 2.91 -2.31 1.09 -2.35 0.30 -1.29 -2.77
Income Tax Expense		 4.36 1.79 12 2.50 8.01 12 -2.20 6.60 7.23 6.74 6.23
Basic Earnings per Share		 ($0.24) $0.12 ($0.28) $0.16 $0.09 ($0.42) ($0.06) $0.31 $1.05 $0.62 $0.86
Weighted Average Basic Shares Outstanding		 49.88M 50.69M 51.01M 51.35M 51.18M 52.15M 52.70M 52.51M 52.46M 52.49M 50.57M
Diluted Earnings per Share		 ($0.24) $0.12 ($0.28) $0.16 $0.09 ($0.42) ($0.06) $0.31 $1.03 $0.62 $0.86
Weighted Average Diluted Shares Outstanding		 49.88M 51.50M 51.01M 51.78M 51.82M 52.15M 52.70M 52.67M 53.19M 52.58M 50.62M
Weighted Average Basic & Diluted Shares Outstanding		 50.67M 50.96M 51.35M 51.62M 52.15M 52.74M 52.69M 52.39M 52.74M 51.22M 49.87M

Annual Cash Flow Statements for HubSpot

This table details how cash moves in and out of HubSpot's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -68 5.01 30 26 161 103 -1.11 -46 58 125 368
Net Cash From Operating Activities		 -0.42 19 50 85 119 89 239 273 351 599 761
Net Cash From Continuing Operating Activities		 -0.42 19 50 85 119 68 239 273 351 599 761
Net Income / (Loss) Continuing Operations		 -46 -46 -40 -64 -54 -85 -78 -107 -165 4.63 46
Consolidated Net Income / (Loss)		 -46 -46 -40 -64 -54 -85 -78 -107 -165 4.63 46
Depreciation Expense		 7.34 11 16 23 29 37 45 58 73 97 136
Amortization Expense		 0.67 0.65 11 14 7.63 21 28 2.01 1.99 2.01 0.58
Non-Cash Adjustments To Reconcile Net Income		 23 37 52 79 98 59 134 278 450 426 472
Changes in Operating Assets and Liabilities, net		 15 16 11 33 39 36 110 43 -9.45 69 106
Net Cash From Investing Activities		 -104 -23 -397 -71 -316 -216 -180 -320 -335 -516 492
Net Cash From Continuing Investing Activities		 -104 -23 -397 -71 -316 -216 -180 -320 -335 -516 492
Purchase of Property, Plant & Equipment		 -13 -22 -27 -33 -54 -59 -62 -82 -100 -128 -184
Acquisitions		 -0.60 - -9.42 0.00 -23 0.00 -20 -10 -142 -42 -88
Purchase of Investments		 -114 -52 -894 -682 -1,305 -1,520 -1,498 -1,537 -1,595 -2,009 -1,477
Sale and/or Maturity of Investments		 23 51 534 644 1,066 1,363 1,400 1,310 1,503 1,661 2,237
Other Investing Activities, net		 -0.17 - - - - - - 0.00 0.00 1.93 2.74
Net Cash From Financing Activities		 37 8.47 377 13 359 222 -51 7.43 37 53 -910
Net Cash From Continuing Financing Activities		 37 8.47 377 13 359 222 -51 7.43 37 53 -910
Repayment of Debt		 -0.21 -0.74 -1.05 -0.74 -0.62 -0.03 0.00 -1.62 -0.01 -0.06 -460
Repurchase of Common Equity		 - - - 0.00 0.00 -328 0.00 -0.03 0.00 0.00 -500
Issuance of Common Equity		 46 12 72 22 366 30 47 40 48 76 71
Other Financing Activities, net		 -8.61 -2.37 -83 -8.03 -6.25 70 -98 -31 -11 -22 -22
Effect of Exchange Rate Changes		 -0.55 - - - -0.72 6.83 -8.86 -6.81 4.65 -12 26
Cash Interest Paid		 0.19 0.17 0.76 1.04 1.01 1.51 1.84 1.75 1.72 1.72 0.42
Cash Income Taxes Paid		 0.22 0.95 0.86 1.84 3.09 2.31 6.97 4.69 13 12 19

Quarterly Cash Flow Statements for HubSpot

This table details how cash moves in and out of HubSpot's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -147 60 350 -388 103 112 -55 43 268 62 14
Net Cash From Operating Activities		 104 127 118 160 194 162 164 187 247 199 223
Net Cash From Continuing Operating Activities		 104 127 118 160 194 162 164 187 247 199 223
Net Income / (Loss) Continuing Operations		 -12 5.93 -14 8.15 4.98 -22 -3.26 17 54 33 43
Consolidated Net Income / (Loss)		 -12 5.93 -14 8.15 4.98 -22 -3.26 17 54 33 43
Depreciation Expense		 19 21 22 25 28 29 33 36 39 40 44
Amortization Expense		 31 -12 -10 -13 37 -13 -11 -8.98 33 -6.69 -3.39
Non-Cash Adjustments To Reconcile Net Income		 63 99 126 127 74 121 147 128 77 118 131
Changes in Operating Assets and Liabilities, net		 3.61 13 -5.77 12 49 47 -1.95 16 44 14 7.58
Net Cash From Investing Activities		 -266 -74 213 -569 -86 23 269 170 30 65 326
Net Cash From Continuing Investing Activities		 -266 -74 211 -569 -84 23 269 170 30 65 326
Purchase of Property, Plant & Equipment		 -26 -28 -30 -35 -36 -44 -51 -45 -44 -50 -60
Acquisitions		 -140 0.00 - - -38 -51 -19 -1.66 -16 -8.87 -19
Purchase of Investments		 -448 -399 -256 -839 -515 -685 -164 -364 -264 -364 -8.14
Sale and/or Maturity of Investments		 348 353 497 308 503 803 502 580 351 488 413
Net Cash From Financing Activities		 6.65 11 21 12 10 -80 -480 -341 -9.47 -196 -531
Net Cash From Continuing Financing Activities		 6.65 11 21 12 10 -80 -480 -341 -9.47 -196 -531
Repurchase of Common Equity		 - - - - - 0.00 - -360 -15 -207 -536
Issuance of Common Equity		 9.80 20 25 16 14 19 19 24 8.68 16 6.93
Other Financing Activities, net		 -3.14 -8.79 -4.70 -4.29 -4.17 -9.07 -4.74 -4.36 -3.40 -3.19 -2.22
Effect of Exchange Rate Changes		 8.83 -4.31 -1.51 10 -16 8.56 - - -0.48 -5.53 -3.13
Cash Interest Paid		 0.86 - 0.86 - 0.86 0.00 - - - 0.00 0.22
Cash Income Taxes Paid		 1.45 3.10 4.07 3.87 1.15 3.71 6.94 3.91 4.76 9.15 5.42

Annual Balance Sheets for HubSpot

This table presents HubSpot's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 220 260 712 834 1,569 1,973 2,175 2,545 3,071 3,796 3,854
Total Current Assets		 146 176 603 712 1,110 1,457 1,454 1,755 1,872 2,634 2,450
Cash & Equivalents		 56 60 88 111 270 378 377 331 388 513 882
Short-Term Investments		 49 55 417 481 692 873 821 1,082 1,000 1,557 822
Accounts Receivable		 25 39 61 77 93 126 157 227 295 335 419
Prepaid Expenses		 7.95 14 19 14 24 35 38 44 89 81 101
Other Current Assets		 8.11 9.03 13 24 32 45 60 71 99 149 226
Plant, Property, & Equipment, net		 18 30 43 52 84 101 96 105 103 114 142
Total Noncurrent Assets		 56 53 66 69 376 415 625 685 1,097 1,048 1,263
Long-Term Investments		 41 36 31 11 54 31 175 113 326 154 137
Goodwill		 9.77 9.77 15 15 30 31 47 46 174 210 291
Intangible Assets		 4.76 6.54 15 18 29 35 50 81 149 192 249
Other Noncurrent Operating Assets		 1.01 1.27 4.96 25 263 318 353 445 449 492 585
Total Liabilities & Shareholders' Equity		 220 260 712 834 1,569 1,973 2,175 2,545 3,071 3,796 3,854
Total Liabilities		 99 141 502 589 919 1,211 1,301 1,553 1,737 1,888 1,788
Total Current Liabilities		 91 127 178 237 322 446 617 762 942 1,573 1,467
Short-Term Debt		 0.54 - - - 0.00 7.84 20 0.00 0.00 458 0.00
Accounts Payable		 2.59 4.35 4.66 7.81 13 14 2.77 21 9.11 3.65 25
Accrued Expenses		 12 16 20 22 29 37 74 155 172 227 299
Current Deferred Revenue		 64 95 137 183 231 313 430 540 672 784 1,005
Current Employee Benefit Liabilities		 11 11 16 24 26 44 64 10 53 67 99
Other Current Liabilities		 - - - - 24 30 26 36 35 33 40
Total Noncurrent Liabilities		 7.36 14 324 352 597 765 684 791 795 314 320
Noncurrent Deferred Revenue		 7.08 11 21 29 3.06 3.64 4.47 5.90 5.81 3.97 8.50
Other Noncurrent Operating Liabilities		 0.01 2.42 3.93 4.90 253 290 296 331 333 310 312
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 122 119 210 245 650 763 874 992 1,334 1,908 2,066
Total Preferred & Common Equity		 122 119 210 245 650 763 874 992 1,334 1,908 2,066
Total Common Equity		 122 119 210 245 650 763 874 992 1,334 1,908 2,066
Common Stock		 323 365 496 590 1,048 1,241 1,436 1,647 2,137 2,714 2,815
Retained Earnings		 -200 -246 -286 -344 -398 -483 -561 -642 -804 -800 -754
Treasury Stock		 - - - - - - - - - 0.00 -0.00
Accumulated Other Comprehensive Income / (Loss)		 -0.81 -0.86 -0.06 -0.72 -0.34 4.60 -1.34 -13 1.83 -5.65 5.24

Quarterly Balance Sheets for HubSpot

This table presents HubSpot's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 2,644 2,729 2,816 3,193 3,356 3,557 3,896 3,684 3,502 3,829 3,504
Total Current Assets		 1,822 1,908 1,975 1,985 2,236 2,439 2,614 2,310 2,114 2,442 2,127
Cash & Equivalents		 325 457 536 448 798 410 625 601 614 944 958
Short-Term Investments		 1,160 1,072 1,062 1,071 938 1,528 1,418 1,068 872 747 380
Accounts Receivable		 198 207 212 267 270 279 295 321 315 355 378
Prepaid Expenses		 63 90 79 92 111 87 109 130 110 156 162
Other Current Assets		 76 82 87 107 120 135 168 189 204 239 249
Plant, Property, & Equipment, net		 107 104 105 103 106 111 124 132 137 150 157
Total Noncurrent Assets		 715 717 736 1,104 1,014 1,007 1,159 1,242 1,251 1,238 1,220
Long-Term Investments		 122 146 151 312 210 166 177 191 172 88 45
Goodwill		 46 46 46 174 174 174 255 275 275 300 319
Intangible Assets		 90 102 110 159 169 180 211 231 244 254 262
Other Noncurrent Operating Assets		 457 422 429 460 461 488 516 545 560 596 593
Total Liabilities & Shareholders' Equity		 2,644 2,729 2,816 3,193 3,356 3,557 3,896 3,684 3,502 3,829 3,504
Total Liabilities		 1,597 1,647 1,629 1,744 1,755 1,805 1,892 1,619 1,647 1,832 1,848
Total Current Liabilities		 810 847 839 960 1,437 1,489 1,577 1,287 1,316 1,518 1,544
Short-Term Debt		 0.00 0.00 0.00 0.00 457 458 369 0.00 0.00 0.00 0.00
Accounts Payable		 2.96 3.13 17 7.93 4.12 5.27 22 13 25 53 26
Accrued Expenses		 131 157 135 153 174 188 227 252 264 282 317
Current Deferred Revenue		 572 586 578 697 708 720 836 888 882 1,038 1,056
Current Employee Benefit Liabilities		 71 70 79 69 61 84 86 97 107 108 106
Other Current Liabilities		 34 31 30 33 33 35 37 38 39 37 38
Total Noncurrent Liabilities		 787 799 790 784 318 317 315 332 331 315 304
Noncurrent Deferred Revenue		 5.47 4.57 4.21 4.92 4.61 4.23 4.58 5.99 6.67 7.11 6.38
Other Noncurrent Operating Liabilities		 327 339 330 323 313 312 310 326 324 308 298
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,046 1,082 1,186 1,449 1,601 1,752 2,005 2,065 1,856 1,997 1,657
Total Preferred & Common Equity		 1,046 1,082 1,186 1,449 1,601 1,752 2,005 2,065 1,856 1,997 1,657
Total Common Equity		 1,046 1,082 1,186 1,449 1,601 1,752 2,005 2,065 1,856 1,997 1,657
Common Stock		 1,735 1,890 2,001 2,251 2,419 2,551 2,829 2,884 2,658 2,716 2,335
Retained Earnings		 -681 -800 -805 -799 -813 -805 -822 -825 -808 -721 -678
Treasury Stock		 - - - - - - - -0.00 -0.00 -0.00 -0.01
Accumulated Other Comprehensive Income / (Loss)		 -7.76 -8.39 -9.38 -2.98 -4.82 5.65 -2.66 5.43 5.81 1.79 0.17

Annual Metrics And Ratios for HubSpot

This table displays calculated financial ratios and metrics derived from HubSpot's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 57.02% 48.93% 38.62% 36.57% 31.56% 30.85% 47.30% 33.08% 25.38% 21.07% 19.17%
EBITDA Growth		 10.63% 10.67% 58.22% 9.53% 14.19% 161.62% 318.00% -275.43% -164.38% 137.06% 190.52%
EBIT Growth		 4.58% 0.50% 10.79% -22.25% 4.76% -8.77% 13.25% -145.34% -87.44% 75.53% 108.19%
NOPAT Growth		 4.39% 3.90% 10.13% -20.24% 2.63% -8.17% -7.81% -87.71% -95.34% 92.24% 144.70%
Net Income Growth		 4.51% 1.07% 12.84% -60.72% 15.80% -58.21% 8.46% -37.91% -53.25% 102.81% 892.03%
EPS Growth		 66.90% 7.19% 16.28% -53.70% 22.89% -48.44% 12.63% -34.34% -47.98% 102.73% 855.56%
Operating Cash Flow Growth		 96.61% 4,678.25% 156.19% 71.02% 40.21% -25.27% 168.50% 14.43% 28.48% 70.56% 27.08%
Free Cash Flow Firm Growth		 16.62% -0.16% -23.14% 28.36% -167.73% 62.61% 188.24% -605.24% -231.72% 73.99% -1.42%
Invested Capital Growth		 -75.57% -37.36% -0.50% -43.44% 45.53% -62.78% -139.05% 17.97% 196.96% 86.33% 58.16%
Revenue Q/Q Growth		 11.64% 9.42% 8.71% 7.88% 6.66% 8.06% 9.91% 6.15% 5.45% 4.84% 4.81%
EBITDA Q/Q Growth		 22.79% -7.81% 40.39% 17.11% -1,857.32% 158.29% -0.25% -8.02% 20.49% 238.62% 80.40%
EBIT Q/Q Growth		 17.25% -8.74% 9.22% 2.93% 0.96% 1.11% -4.71% -4.06% -2.99% 33.14% 107.88%
NOPAT Q/Q Growth		 16.99% -8.16% 9.85% 3.21% -0.70% 1.01% -1.10% 0.96% -5.06% -100.26% -44.40%
Net Income Q/Q Growth		 17.01% -8.52% 5.46% 0.07% 2.17% -6.40% -1.24% 5.41% 1.92% 118.85% 1,399.86%
EPS Q/Q Growth		 -414.81% -5.74% 6.09% 1.19% 3.03% -4.40% -0.61% 5.91% 2.37% 119.15% 1,175.00%
Operating Cash Flow Q/Q Growth		 78.43% -1.86% 30.93% 29.08% 14.19% 17.18% 16.76% -1.87% 4.26% 17.66% 7.53%
Free Cash Flow Firm Q/Q Growth		 0.00% 4.70% 19.25% 15.23% -191.58% 69.56% 408.33% -80.84% -183.13% -101.93% 5.86%
Invested Capital Q/Q Growth		 3.46% -9.20% -24.54% -23.73% 51.47% -90.57% -80.56% -3.08% 172.35% 34.75% 14.19%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 73.66% 77.17% 79.84% 80.44% 80.74% 81.09% 80.10% 82.21% 84.41% 85.03% 83.76%
EBITDA Margin		 -20.79% -12.47% -3.76% -2.49% -1.62% 0.76% 2.17% -2.86% -6.03% 1.85% 4.50%
Operating Margin		 -25.54% -16.48% -10.69% -9.41% -6.96% -5.76% -4.21% -5.94% -9.26% -2.57% 0.24%
EBIT Margin		 -25.20% -16.84% -10.83% -9.70% -7.02% -5.84% -3.44% -6.34% -9.47% -1.91% 0.13%
Profit (Net Income) Margin		 -25.31% -16.81% -10.57% -12.44% -7.96% -9.63% -5.98% -6.20% -7.58% 0.18% 1.47%
Tax Burden Percent		 100.90% 101.18% 79.37% 103.01% 105.86% 105.22% 105.44% 109.03% 109.25% 16.14% 66.09%
Interest Burden Percent		 99.55% 98.71% 122.96% 124.54% 107.15% 156.80% 165.11% 89.75% 73.24% -57.00% 1,685.59%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 83.86% 33.91%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -9.95% 2.65%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -10.97% 0.37%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10.23% -0.34%
Return on Equity (ROE)		 -39.63% -37.90% -24.14% -28.06% -12.02% -12.04% -9.51% -11.51% -14.14% 0.29% 2.31%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -386.71% -70.25% -42.41%
Operating Return on Assets (OROA)		 -23.20% -19.00% -8.37% -6.44% -3.94% -2.91% -2.16% -4.65% -7.32% -1.47% 0.11%
Return on Assets (ROA)		 -23.30% -18.98% -8.17% -8.26% -4.47% -4.80% -3.75% -4.55% -5.86% 0.13% 1.20%
Return on Common Equity (ROCE)		 -39.63% -37.90% -24.14% -28.06% -12.02% -12.04% -9.51% -11.51% -14.14% 0.29% 2.31%
Return on Equity Simple (ROE_SIMPLE)		 -37.84% -38.38% -18.88% -26.09% -8.27% -11.15% -8.91% -10.82% -12.33% 0.24% 0.00%
Net Operating Profit after Tax (NOPAT)		 -33 -31 -28 -34 -33 -36 -38 -72 -141 -11 4.88
NOPAT Margin		 -17.88% -11.54% -7.48% -6.59% -4.87% -4.03% -2.95% -4.16% -6.48% -0.42% 0.16%
Net Nonoperating Expense Percent (NNEP)		 -10.07% -9.70% -5.92% -11.29% -4.32% -6.69% -4.45% -3.46% -2.05% 1.03% 2.28%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -4.98% -7.86% -0.46% 0.24%
Cost of Revenue to Revenue		 26.34% 22.83% 20.16% 19.56% 19.26% 18.91% 19.90% 17.79% 15.59% 14.97% 16.24%
SG&A Expenses to Revenue		 19.46% 16.65% 15.12% 14.78% 13.78% 12.37% 11.14% 11.42% 11.50% 11.43% 10.41%
R&D to Revenue		 17.84% 16.98% 18.74% 22.93% 23.45% 23.28% 23.22% 25.54% 28.46% 29.64% 28.93%
Operating Expenses to Revenue		 99.20% 93.65% 90.52% 89.84% 87.71% 86.85% 84.31% 88.15% 93.67% 87.61% 83.53%
Earnings before Interest and Taxes (EBIT)		 -46 -46 -41 -50 -47 -52 -45 -110 -206 -50 4.12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -38 -34 -14 -13 -11 6.75 28 -50 -131 49 141
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 15.78 14.10 15.70 20.16 10.44 23.85 35.64 14.15 21.90 18.85 10.17
Price to Tangible Book Value (P/TBV)		 17.91 16.35 18.32 23.26 11.48 26.13 40.12 16.24 28.87 23.87 13.78
Price to Revenue (P/Rev)		 10.55 6.18 8.80 9.62 10.06 20.60 23.95 8.11 13.46 13.69 6.71
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7,772.20 457.89
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.22%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 364.94 239.59 84.96
Enterprise Value to Revenue (EV/Rev)		 9.76 5.62 8.15 9.05 9.06 19.69 23.20 7.50 12.88 13.02 6.13
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 2,574.58 1,068.81 0.00 0.00 704.78 136.05
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,654.66
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,933.06
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 78.66 61.71 54.71 51.38 195.57 126.40 47.49 79.67 57.14 25.22
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 1,706.84 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.01 0.00 1.42 1.30 0.52 0.63 0.46 0.46 0.34 0.24 0.00
Long-Term Debt to Equity		 0.00 0.00 1.42 1.30 0.52 0.62 0.44 0.46 0.34 0.00 0.00
Financial Leverage		 -1.16 -1.23 -1.19 -1.17 -1.08 -1.05 -1.08 -1.09 -1.00 -0.93 -0.91
Leverage Ratio		 1.70 2.00 2.95 3.40 2.69 2.51 2.53 2.53 2.41 2.12 1.92
Compound Leverage Factor		 1.69 1.97 3.63 4.23 2.88 3.93 4.19 2.27 1.77 -1.21 32.44
Debt to Total Capital		 0.67% 0.00% 58.66% 56.58% 34.38% 38.57% 31.55% 31.40% 25.48% 19.36% 0.00%
Short-Term Debt to Total Capital		 0.44% 0.00% 0.00% 0.00% 0.00% 0.63% 1.54% 0.00% 0.00% 19.36% 0.00%
Long-Term Debt to Total Capital		 0.23% 0.00% 58.66% 56.58% 34.38% 37.94% 30.01% 31.40% 25.48% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 99.33% 100.00% 41.34% 43.42% 65.62% 61.43% 68.45% 68.60% 74.52% 80.64% 100.00%
Debt to EBITDA		 -0.02 0.00 -21.14 -24.96 -31.07 70.91 14.27 -9.17 -3.48 9.44 0.00
Net Debt to EBITDA		 3.82 0.00 17.14 22.71 61.56 -118.89 -34.36 21.63 9.61 -36.38 0.00
Long-Term Debt to EBITDA		 -0.01 0.00 -21.14 -24.96 -31.07 69.75 13.57 -9.17 -3.48 0.00 0.00
Debt to NOPAT		 -0.03 0.00 -10.62 -9.44 -10.35 -13.46 -10.50 -6.31 -3.24 -42.00 0.00
Net Debt to NOPAT		 4.45 0.00 8.62 8.59 20.51 22.57 25.29 14.88 8.94 161.83 0.00
Long-Term Debt to NOPAT		 -0.01 0.00 -10.62 -9.44 -10.35 -13.24 -9.99 -6.31 -3.24 0.00 0.00
Altman Z-Score		 10.84 6.48 4.44 5.55 5.01 9.65 14.99 6.08 10.57 12.12 7.90
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.60 1.38 3.38 3.01 3.44 3.27 2.35 2.30 1.99 1.67 1.67
Quick Ratio		 1.42 1.20 3.17 2.82 3.27 3.09 2.20 2.15 1.79 1.53 1.45
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -23 -23 -28 -20 -54 -20 18 -89 -296 -77 -78
Operating Cash Flow to CapEx		 -3.32% 89.92% 181.42% 253.49% 220.95% 151.03% 385.89% 334.07% 350.66% 469.21% 413.91%
Free Cash Flow to Firm to Interest Expense		 -122.44 -85.61 -2.12 -0.94 -2.35 -0.54 0.58 -23.74 -77.95 -20.71 -89.21
Operating Cash Flow to Interest Expense		 -2.29 73.08 3.76 3.97 5.21 2.40 7.88 72.61 92.34 160.87 868.40
Operating Cash Flow Less CapEx to Interest Expense		 -71.16 -8.20 1.69 2.40 2.85 0.81 5.84 50.88 66.00 126.59 658.59
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.92 1.13 0.77 0.66 0.56 0.50 0.63 0.73 0.77 0.77 0.82
Accounts Receivable Turnover		 9.23 8.45 7.54 7.45 7.96 8.07 9.17 9.01 8.31 8.34 8.31
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 12.32 11.21 10.22 10.71 9.92 9.56 13.19 17.19 20.81 24.16 24.46
Accounts Payable Turnover		 17.79 17.83 16.82 16.10 12.59 12.66 31.74 26.04 22.57 61.66 35.79
Days Sales Outstanding (DSO)		 39.53 43.19 48.42 49.02 45.87 45.25 39.82 40.51 43.91 43.77 43.94
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 20.52 20.47 21.71 22.67 29.00 28.84 11.50 14.02 16.18 5.92 10.20
Cash Conversion Cycle (CCC)		 19.01 22.72 26.72 26.34 16.87 16.41 28.32 26.49 27.73 37.85 33.75
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -23 -32 -32 -45 -25 -40 -96 -79 77 143 226
Invested Capital Turnover		 -10.10 -9.95 -11.88 -13.30 -19.22 -27.15 -19.04 -19.74 -1,804.77 23.95 16.99
Increase / (Decrease) in Invested Capital		 -9.88 -8.58 -0.16 -14 21 -16 -56 17 156 66 83
Enterprise Value (EV)		 1,775 1,523 3,062 4,643 6,112 17,389 30,175 12,974 27,961 34,204 19,182
Market Capitalization		 1,920 1,674 3,304 4,933 6,787 18,192 31,145 14,045 29,219 35,970 21,022
Book Value per Share		 $3.57 $3.33 $5.63 $6.24 $15.18 $16.62 $18.49 $20.43 $26.51 $36.97 $39.44
Tangible Book Value per Share		 $3.14 $2.88 $4.83 $5.40 $13.81 $15.17 $16.43 $17.80 $20.11 $29.19 $29.13
Total Capital		 123 119 509 563 991 1,242 1,277 1,446 1,791 2,366 2,066
Total Debt		 0.82 0.00 298 319 341 479 403 454 456 458 0.00
Total Long-Term Debt		 0.28 0.00 298 319 341 471 383 454 456 0.00 0.00
Net Debt		 -145 -150 -242 -290 -675 -803 -970 -1,071 -1,258 -1,766 -1,840
Capital Expenditures (CapEx)		 13 22 27 33 54 59 62 82 100 128 184
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -50 -66 -85 -122 -174 -232 -342 -420 -459 -551 -722
Debt-free Net Working Capital (DFNWC)		 55 49 424 475 787 1,019 856 993 930 1,518 982
Net Working Capital (NWC)		 54 49 424 475 787 1,011 836 993 930 1,060 982
Net Nonoperating Expense (NNE)		 14 14 12 30 21 49 39 35 24 -16 -41
Net Nonoperating Obligations (NNO)		 -145 -150 -242 -290 -675 -803 -970 -1,071 -1,258 -1,766 -1,840
Total Depreciation and Amortization (D&A)		 8.01 12 27 37 36 58 73 60 75 99 137
Debt-free, Cash-free Net Working Capital to Revenue		 -27.24% -24.23% -22.60% -23.79% -25.82% -26.27% -26.31% -24.25% -21.14% -20.97% -23.04%
Debt-free Net Working Capital to Revenue		 30.22% 18.04% 112.94% 92.68% 116.65% 115.43% 65.79% 57.36% 42.83% 57.79% 31.37%
Net Working Capital to Revenue		 29.93% 18.04% 112.94% 92.68% 116.65% 114.54% 64.28% 57.36% 42.83% 40.35% 31.37%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($1.39) ($1.29) ($1.08) ($1.66) ($1.28) ($1.90) ($1.66) ($2.35) ($3.53) $0.09 $0.88
Adjusted Weighted Average Basic Shares Outstanding		 34.71M 36.16M 37.86M 39.61M 43.29M 46.34M 47.57M 48.07M 49.88M 51.18M 52.46M
Adjusted Diluted Earnings per Share		 ($1.39) ($1.29) ($1.08) ($1.66) ($1.28) ($1.90) ($1.66) ($2.35) ($3.53) $0.09 $0.86
Adjusted Weighted Average Diluted Shares Outstanding		 34.71M 36.16M 37.86M 39.61M 43.29M 46.34M 47.57M 48.07M 49.88M 51.82M 53.19M
Adjusted Basic & Diluted Earnings per Share		 ($1.39) ($1.29) ($1.08) ($1.66) ($1.28) ($1.90) ($1.66) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 33.22M 35.20M 36.83M 38.53M 42.03M 44.76M 46.89M 49.39M 50.67M 52.15M 52.74M
Normalized Net Operating Profit after Tax (NOPAT)		 -33 -31 -28 -34 -33 -36 -38 -72 -73 -45 7.54
Normalized NOPAT Margin		 -17.88% -11.54% -7.48% -6.59% -4.87% -4.03% -2.95% -4.16% -3.36% -1.69% 0.24%
Pre Tax Income Margin		 -25.09% -16.62% -13.32% -12.08% -7.52% -9.15% -5.68% -5.69% -6.94% 1.09% 2.22%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -247.82 -172.14 -3.09 -2.33 -2.08 -1.39 -1.48 -29.16 -54.09 -13.52 4.70
NOPAT to Interest Expense		 -175.85 -117.98 -2.13 -1.58 -1.44 -0.96 -1.27 -19.14 -37.00 -2.93 5.57
EBIT Less CapEx to Interest Expense		 -316.69 -253.42 -5.16 -3.89 -4.44 -2.98 -3.52 -50.89 -80.42 -47.81 -205.10
NOPAT Less CapEx to Interest Expense		 -244.72 -199.25 -4.21 -3.14 -3.80 -2.55 -3.31 -40.88 -63.34 -37.22 -204.24
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% -385.20% 0.00% -0.03% 0.00% 0.00% 1,089.11%

Quarterly Metrics And Ratios for HubSpot

This table displays calculated financial ratios and metrics derived from HubSpot's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 52,740,536.00 51,217,740.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 52,740,536.00 51,217,740.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.62 0.85
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 23.90% 23.08% 20.43% 20.12% 20.84% 15.67% 19.40% 20.87% 20.42% 23.37% 19.83%
EBITDA Growth		 316.60% 97.41% 90.92% 115.94% 138.54% -1,487.90% 91.53% 1,997.23% 108.91% 520.79% 9,763.51%
EBIT Growth		 -90.50% 77.03% 80.88% 49.57% 69.30% -195.76% -6.18% 187.17% 715.31% 189.48% 272.41%
NOPAT Growth		 -219.59% 40.74% 79.40% 43.28% 74.43% -7.72% -2.84% 208.98% 1,127.68% 220.35% 319.82%
Net Income Growth		 -21.26% 116.16% 87.09% 327.73% 140.15% -467.26% 77.43% 103.00% 992.23% 249.38% 1,430.20%
EPS Growth		 -20.00% 116.22% 87.56% 328.57% 137.50% -450.00% 78.57% 93.75% 1,044.44% 247.62% 1,533.33%
Operating Cash Flow Growth		 15.95% 56.76% 53.94% 79.17% 86.12% 27.13% 39.49% 17.43% 27.45% 23.06% 35.53%
Free Cash Flow Firm Growth		 -667.62% -308.67% -866.77% -1,449.48% 59.10% 50.90% 59.12% 61.79% 42.46% 58.02% 71.25%
Invested Capital Growth		 196.96% 171.73% 181.61% 200.05% 86.33% 103.70% 81.74% 86.63% 58.16% 41.64% 33.90%
Revenue Q/Q Growth		 4.37% 6.10% 3.21% 5.10% 5.00% 1.56% 6.54% 6.39% 4.60% 4.04% 3.49%
EBITDA Q/Q Growth		 327.12% 96.24% -1,005.66% 117.04% 3,297.94% -124.80% 94.10% 4,319.31% 238.47% -50.05% 35.48%
EBIT Q/Q Growth		 -27.10% 67.45% -119.93% 53.97% 22.63% -277.60% 21.04% 137.79% 446.15% -45.09% 52.13%
NOPAT Q/Q Growth		 -24.78% 10.15% 6.18% 56.02% 43.76% -364.22% 10.43% 146.60% 430.36% -45.64% 63.61%
Net Income Q/Q Growth		 -246.94% 126.60% -343.26% 156.43% -38.83% -537.35% 85.05% 607.55% 229.14% -40.19% 33.13%
EPS Q/Q Growth		 -242.86% 127.91% -333.33% 157.14% -43.75% -566.67% 85.71% 616.67% 232.26% -39.81% 38.71%
Operating Cash Flow Q/Q Growth		 17.14% 21.83% -7.29% 35.40% 21.69% -16.78% 1.73% 13.99% 32.06% -19.64% 12.04%
Free Cash Flow Firm Q/Q Growth		 -1,157.95% -13.33% -34.16% 17.86% 67.94% -38.95% -11.72% 23.24% 51.72% -1.39% 23.49%
Invested Capital Q/Q Growth		 172.35% -1.29% 48.62% -5.74% 34.75% 7.91% 32.60% -3.20% 14.19% -3.36% 25.35%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 84.97% 84.60% 85.01% 85.17% 85.30% 83.88% 83.94% 83.51% 83.74% 83.46% 82.35%
EBITDA Margin		 4.16% -0.15% -1.56% 0.25% 8.21% -2.00% -0.11% 4.40% 14.23% 6.83% 8.95%
Operating Margin		 -3.98% -3.76% -3.76% -1.44% -1.54% -3.85% -3.24% 1.39% 5.70% 3.17% 4.75%
EBIT Margin		 -4.42% -1.63% -3.48% -1.52% -1.12% -4.17% -3.09% 1.10% 5.73% 3.03% 4.45%
Profit (Net Income) Margin		 -2.13% 0.96% -2.27% 1.22% 0.71% -3.05% -0.43% 2.04% 6.43% 3.70% 4.75%
Tax Burden Percent		 154.16% 76.87% 538.22% 76.50% 38.36% 220.82% 59.70% 71.47% 88.28% 82.85% 87.43%
Interest Burden Percent		 31.32% -76.65% 12.11% -104.43% -164.67% 33.13% 23.20% 260.31% 127.01% 147.42% 122.24%
Effective Tax Rate		 0.00% 23.13% 0.00% 23.50% 61.64% 0.00% 0.00% 28.53% 11.72% 17.15% 12.57%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% -108,129.26% -14.12% -63.90% -40.73% 19.52% 85.46% 46.56% 59.97%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% -108,130.32% -14.72% -63.74% -41.56% 19.00% 84.80% 46.04% 59.64%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 108,128.44% 13.72% 59.50% 37.97% -17.40% -76.94% -41.76% -51.98%
Return on Equity (ROE)		 -14.14% -10.71% -2.70% -0.82% -0.39% -4.40% -2.76% 2.11% 8.52% 4.80% 7.99%
Cash Return on Invested Capital (CROIC)		 -386.71% -413.64% -282.32% 3,764.40% -70.25% 62.04% 7.67% -54.67% -42.41% -5.95% 17.29%
Operating Return on Assets (OROA)		 -3.41% -1.28% -2.74% -1.20% -0.86% -3.21% -2.50% 0.93% 4.69% 2.58% 4.27%
Return on Assets (ROA)		 -1.65% 0.75% -1.78% 0.96% 0.54% -2.35% -0.35% 1.73% 5.26% 3.16% 4.56%
Return on Common Equity (ROCE)		 -14.14% -10.71% -2.70% -0.82% -0.39% -4.40% -2.76% 2.11% 8.52% 4.80% 7.99%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -9.22% -2.27% -1.40% 0.00% -1.15% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -16 -18 -17 -7.37 -4.14 -19 -17 8.03 43 23 38
NOPAT Margin		 -2.79% -2.89% -2.63% -1.10% -0.59% -2.69% -2.26% 0.99% 5.03% 2.63% 4.15%
Net Nonoperating Expense Percent (NNEP)		 0.33% 1.88% 0.17% 1.06% 0.60% -0.16% 0.83% 0.51% 0.66% 0.52% 0.34%
Return On Investment Capital (ROIC_SIMPLE)		 -0.91% - - - -0.18% -0.81% -0.83% 0.43% 2.06% 1.16% 2.29%
Cost of Revenue to Revenue		 15.03% 15.40% 14.99% 14.83% 14.70% 16.12% 16.06% 16.49% 16.26% 16.54% 17.65%
SG&A Expenses to Revenue		 11.98% 11.15% 11.39% 11.64% 11.51% 11.01% 11.17% 9.97% 9.65% 9.72% 9.10%
R&D to Revenue		 28.05% 28.45% 31.10% 28.55% 30.39% 30.82% 31.19% 28.13% 26.08% 26.58% 24.77%
Operating Expenses to Revenue		 88.95% 88.36% 88.77% 86.61% 86.84% 87.73% 87.18% 82.12% 78.04% 80.29% 77.60%
Earnings before Interest and Taxes (EBIT)		 -26 -10 -22 -10 -7.89 -30 -24 8.89 49 27 41
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 24 -0.90 -9.96 1.70 58 -14 -0.84 36 121 60 82
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 21.90 21.76 18.78 15.58 18.85 14.86 14.22 13.28 10.17 6.45 5.64
Price to Tangible Book Value (P/TBV)		 28.87 28.26 23.89 19.53 23.87 19.36 18.83 18.43 13.78 8.93 8.69
Price to Revenue (P/Rev)		 13.46 13.79 12.55 10.89 13.69 10.94 10.31 8.25 6.71 3.90 2.71
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 7,772.20 0.00 0.00 0.00 457.89 128.41 63.65
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00% 0.22% 0.78% 1.57%
Enterprise Value to Invested Capital (EV/IC)		 364.94 398.80 254.17 242.12 239.59 181.39 134.60 116.28 84.96 50.85 29.12
Enterprise Value to Revenue (EV/Rev)		 12.88 13.19 11.93 10.23 13.02 10.26 9.65 7.70 6.13 3.36 2.31
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 704.78 795.54 621.43 294.17 136.05 51.49 26.74
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,654.66 183.20 63.90
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 6.11 0.00 186.69 264.33 2,620.93 3,933.06 209.04 72.04
Enterprise Value to Operating Cash Flow (EV/OCF)		 79.67 75.98 65.18 50.42 57.14 44.14 40.46 32.50 25.22 13.90 9.30
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 6.43 0.00 392.18 2,264.93 0.00 0.00 0.00 192.78
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.34 0.32 0.29 0.26 0.24 0.18 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.34 0.32 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.00 -1.01 -1.01 -1.00 -0.93 -0.93 -0.91 -0.92 -0.91 -0.91 -0.87
Leverage Ratio		 2.41 2.34 2.27 2.17 2.12 2.05 1.92 1.96 1.92 1.93 1.93
Compound Leverage Factor		 0.76 -1.79 0.27 -2.27 -3.49 0.68 0.45 5.09 2.44 2.85 2.36
Debt to Total Capital		 25.48% 23.96% 22.21% 20.71% 19.36% 15.54% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 22.21% 20.71% 19.36% 15.54% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 25.48% 23.96% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 74.52% 76.04% 77.79% 79.29% 80.64% 84.46% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 -3.48 -3.11 -9.65 -13.07 9.44 10.50 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 9.61 9.34 31.43 47.01 -36.38 -52.68 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 -3.48 -3.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -3.24 -3.47 -6.80 0.11 -42.00 2.46 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 8.94 10.42 22.15 -0.39 161.83 -12.36 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 -3.24 -3.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 10.77 11.59 10.91 9.77 12.16 10.15 11.65 9.79 7.94 5.13 3.99
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.99 2.07 1.56 1.64 1.67 1.66 1.79 1.61 1.67 1.61 1.38
Quick Ratio		 1.79 1.86 1.40 1.49 1.53 1.48 1.55 1.37 1.45 1.35 1.11
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -172 -199 -267 -219 -70 -98 -109 -84 -40 -41 -31
Operating Cash Flow to CapEx		 404.77% 461.87% 397.52% 458.76% 544.71% 369.17% 319.39% 417.80% 565.96% 399.56% 373.72%
Free Cash Flow to Firm to Interest Expense		 -174.65 -212.75 -296.19 -234.20 -74.07 -151.65 -480.64 -20,938.68 -40,440.60 -167.36 -79.42
Operating Cash Flow to Interest Expense		 106.01 135.92 130.77 170.45 204.57 250.89 724.06 46,838.75 247,430.00 811.53 563.94
Operating Cash Flow Less CapEx to Interest Expense		 79.82 106.49 97.88 133.30 167.02 182.93 497.36 35,628.00 203,711.00 608.42 413.04
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.77 0.78 0.79 0.79 0.77 0.77 0.81 0.85 0.82 0.85 0.96
Accounts Receivable Turnover		 8.31 9.85 10.05 10.20 8.34 9.71 9.64 10.07 8.31 10.16 9.86
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 20.81 21.73 22.79 23.22 24.16 23.98 23.91 24.06 24.46 24.10 23.83
Accounts Payable Turnover		 22.57 66.19 102.32 34.84 61.66 27.40 52.87 31.46 35.79 14.25 30.01
Days Sales Outstanding (DSO)		 43.91 37.07 36.33 35.78 43.77 37.61 37.88 36.25 43.94 35.94 37.01
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 16.18 5.51 3.57 10.48 5.92 13.32 6.90 11.60 10.20 25.61 12.16
Cash Conversion Cycle (CCC)		 27.73 31.56 32.76 25.30 37.85 24.29 30.97 24.65 33.75 10.33 24.85
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 77 76 112 106 143 154 204 198 226 218 274
Invested Capital Turnover		 -1,804.77 -153.39 -189.11 98,285.49 23.95 23.72 17.99 19.68 16.99 17.72 14.44
Increase / (Decrease) in Invested Capital		 156 181 250 212 66 78 92 92 83 64 69
Enterprise Value (EV)		 27,961 30,162 28,569 25,651 34,204 27,944 27,495 22,992 19,182 11,095 7,965
Market Capitalization		 29,219 31,535 30,057 27,297 35,970 29,795 29,355 24,650 21,022 12,874 9,348
Book Value per Share		 $26.51 $28.59 $31.41 $34.12 $36.97 $38.44 $39.16 $35.22 $39.44 $37.86 $32.35
Tangible Book Value per Share		 $20.11 $22.02 $24.68 $27.22 $29.19 $29.51 $29.57 $25.38 $29.13 $27.35 $20.99
Total Capital		 1,791 1,906 2,058 2,210 2,366 2,373 2,065 1,856 2,066 1,997 1,657
Total Debt		 456 457 457 458 458 369 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 456 457 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -1,258 -1,373 -1,489 -1,646 -1,766 -1,850 -1,861 -1,658 -1,840 -1,779 -1,383
Capital Expenditures (CapEx)		 26 28 30 35 36 44 51 45 44 50 60
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -459 -493 -480 -530 -551 -637 -647 -688 -722 -767 -754
Debt-free Net Working Capital (DFNWC)		 930 1,026 1,256 1,408 1,518 1,406 1,023 798 982 924 584
Net Working Capital (NWC)		 930 1,026 799 950 1,060 1,037 1,023 798 982 924 584
Net Nonoperating Expense (NNE)		 -3.80 -24 -2.32 -16 -9.13 2.56 -14 -8.51 -12 -9.40 -5.46
Net Nonoperating Obligations (NNO)		 -1,258 -1,373 -1,489 -1,646 -1,766 -1,850 -1,861 -1,658 -1,840 -1,779 -1,383
Total Depreciation and Amortization (D&A)		 50 9.17 12 12 66 15 23 27 72 34 41
Debt-free, Cash-free Net Working Capital to Revenue		 -21.14% -21.57% -20.03% -21.15% -20.97% -23.39% -22.71% -23.01% -23.04% -23.26% -21.86%
Debt-free Net Working Capital to Revenue		 42.83% 44.86% 52.47% 56.17% 57.79% 51.60% 35.91% 26.72% 31.37% 28.01% 16.93%
Net Working Capital to Revenue		 42.83% 44.86% 33.37% 37.91% 40.35% 38.06% 35.91% 26.72% 31.37% 28.01% 16.93%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.24) $0.12 ($0.28) $0.16 $0.09 ($0.42) ($0.06) $0.31 $1.05 $0.62 $0.86
Adjusted Weighted Average Basic Shares Outstanding		 49.88M 50.69M 51.01M 51.35M 51.18M 52.15M 52.70M 52.51M 52.46M 52.49M 50.57M
Adjusted Diluted Earnings per Share		 ($0.24) $0.12 ($0.28) $0.16 $0.09 ($0.42) ($0.06) $0.31 $1.03 $0.62 $0.86
Adjusted Weighted Average Diluted Shares Outstanding		 49.88M 51.50M 51.01M 51.78M 51.82M 52.15M 52.70M 52.67M 53.19M 52.58M 50.62M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 50.67M 50.96M 51.35M 51.62M 52.15M 52.74M 52.69M 52.39M 52.74M 51.22M 49.87M
Normalized Net Operating Profit after Tax (NOPAT)		 -14 -17 -16 -6.61 -6.76 -18 -16 8.77 43 24 39
Normalized NOPAT Margin		 -2.36% -2.80% -2.51% -0.99% -0.96% -2.59% -2.16% 1.08% 5.11% 2.73% 4.26%
Pre Tax Income Margin		 -1.38% 1.25% -0.42% 1.59% 1.85% -1.38% -0.72% 2.86% 7.28% 4.46% 5.44%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -26.12 -10.77 -24.58 -10.89 -8.31 -46.26 -103.61 2,222.00 48,542.00 108.80 102.66
NOPAT to Interest Expense		 -16.47 -19.10 -18.60 -7.87 -4.37 -29.87 -75.90 2,007.32 42,584.40 94.49 95.89
EBIT Less CapEx to Interest Expense		 -52.31 -40.20 -57.48 -48.05 -45.87 -114.22 -330.31 -8,988.75 4,823.00 -94.31 -48.24
NOPAT Less CapEx to Interest Expense		 -42.66 -48.53 -51.49 -45.03 -41.92 -97.83 -302.60 -9,203.43 -1,134.60 -108.62 -55.01
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -1,048.52% -13,739.33% 1,089.11% 704.88% 761.23%

Financials Breakdown Chart

Key Financial Trends

HubSpot’s recent financials show a business that is still growing revenue at a healthy pace, with strong operating cash generation and a very solid balance sheet. However, profitability remains uneven quarter to quarter, and operating expenses still run high relative to revenue.

  • Revenue continued to rise in Q1 2026 to $881.0 million, up from $846.7 million in Q4 2025 and $714.1 million in Q1 2025, showing continued top-line growth.
  • Gross profit improved to $735.3 million in Q1 2026, with gross margin remaining strong at roughly 83% of revenue.
  • Operating cash flow was strong in Q1 2026 at $198.8 million, versus $161.6 million in Q1 2025, indicating the core business continues to produce meaningful cash.
  • HubSpot ended Q1 2026 with substantial liquidity, including $943.9 million in cash and equivalents and $747.1 million in short-term investments.
  • The company had no short-term debt and only modest long-term-like obligations on the balance sheet, giving it financial flexibility.
  • Balance sheet equity remains large at $2.0 billion, suggesting the company still has a strong capital base.
  • Deferred revenue remains very large at $1.04 billion in current deferred revenue in Q1 2026, which is a positive sign for future revenue visibility.
  • Net change in cash and equivalents was positive at $61.7 million in Q1 2026 despite buybacks and investment activity.
  • HubSpot continues to repurchase stock, with $206.7 million spent on common equity repurchases in Q1 2026, which can support EPS but also uses cash.
  • Investment activity is sizable and can create quarter-to-quarter noise, as seen by large purchases and maturities of investments across the past year.
  • Operating income in Q1 2026 was only $27.9 million on $881.0 million of revenue, showing profitability is still thin at the operating level.
  • Marketing expense remains very high at $386.4 million in Q1 2026, making it the biggest cost pressure on the income statement.
  • Research & development expense also remains elevated at $234.2 million, keeping total operating expenses high.
  • Quarterly net income fell to $32.6 million in Q1 2026 from $54.4 million in Q4 2025, showing earnings can be volatile.
  • Free cash flow is not directly provided, but capital spending and acquisitions still consume cash each quarter, which can limit how much of operating cash flow is truly available.
  • Retained earnings remain deeply negative at -$721.3 million, reflecting years of accumulated losses despite recent improvement.

Bottom line: HubSpot looks financially resilient and continues to grow, with strong cash generation and a cash-rich balance sheet. The main watch item for investors is whether management can translate that growth into consistently stronger operating margins, since spending on sales, marketing, and R&D still absorbs most of the gross profit.

08/11/26 03:29 PM ETAI Generated. May Contain Errors.

HubSpot Financials - Frequently Asked Questions

According to the most recent income statement we have on file, HubSpot's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

HubSpot's net income appears to be on a downward trend, with a most recent value of $45.91 million in 2025, falling from -$46.05 million in 2015. The previous period was $4.63 million in 2024. Check out HubSpot's forecast to explore projected trends and price targets.

HubSpot's total operating income in 2025 was $7.38 million, based on the following breakdown:
  • Total Gross Profit: $2.62 billion
  • Total Operating Expenses: $2.62 billion

Over the last 10 years, HubSpot's total revenue changed from $181.94 million in 2015 to $3.13 billion in 2025, a change of 1,621.0%.

HubSpot's total liabilities were at $1.79 billion at the end of 2025, a 5.3% decrease from 2024, and a 1,712.0% increase since 2015.

In the past 10 years, HubSpot's cash and equivalents has ranged from $55.58 million in 2015 to $882.24 million in 2025, and is currently $882.24 million as of their latest financial filing in 2025.

Over the last 10 years, HubSpot's book value per share changed from 3.57 in 2015 to 39.44 in 2025, a change of 1,005.0%.


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Financial statements for NYSE:HUBS last updated on 8/5/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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