HUBSPOT INC

Listed Company

HUBSCIK 0001404655NYSELarge AcceleratedServices-Prepackaged SoftwareNew YorkFY ends Dec 31

Period

FY 2025

Revenue

$3.13B

Net Income

$45.91M

Total Assets

$3.85B

Equity

$2.07B

Shares Out

52.74M

Op. Cash Flow

$760.72M

Business

HUBSPOT INC provides a unified customer platform that helps businesses attract, engage, and retain customers through integrated marketing, sales, service, operations, content and commerce capabilities. Its offerings include AI-powered engagement Hubs, a Smart CRM that creates unified customer profiles, the Breeze AI suite, a marketplace of integrations, templates and partners, and complementary customer success, support and professional services. The company sells modular Hubs and platform features that function standalone or together and supports extensible APIs and third-party integrations. It targets mid-market B2B customers via subscription and freemium models, direct sales, and a global Solutions Partner channel across more than 135 countries.

Summary from filing dated 2025-02-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	3,131	2,628	2,170	1,731	1,301
Total cost of revenue	508	393	338	308	259
Gross profit	2,623	2,234	1,832	1,423	1,042
Research and development	906	779	618	442	302
Sales and marketing	1,379	1,219	1,069	886	650
General and administrative	326	300	250	198	145
Restructuring	4	4	97	—	—
Total operating expenses	2,615	2,302	2,033	1,526	1,097
Income (loss) from operations	7	−68	−201	−103	−55
Interest income	66	83	59	15	1
Interest expense	−876,000	−4	−4	−4	—
Other (expense) income, net	−3	17	−5	−7	10
Total other income	62	96	50	4	−19
Income (loss) before income tax expense	69	29	−151	−98	−74
Income tax expense	−24	−24	−14	−9	−4
Net income (loss)	46	5	−165	−107	−78
Net income (loss) per share, basic	0.88	0.09	−3.3	−2.23	−1.66
Net income (loss) per share, diluted	0.86	0.09	−3.3	−2.23	−1.66
Weighted average common shares used in computing basic net income (loss) per share:	52	51	50	48	47
Weighted average common shares used in computing diluted net income (loss) per share:	53	52	50	48	47

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	882	513	388	331	377
Short-term investments	822	1,557	1,000	1,082	821
Accounts receivable - net of allowance for credit losses of $6,825 and $6,088 at December 31, 2025 and 2024, respectively	419	335	295	227	157
Deferred commission expense	226	149	99	71	60
Prepaid expenses and other current assets	101	81	89	44	38
Total current assets	2,450	2,634	1,872	1,755	1,454
Long-term investments	137	154	326	113	175
Property and equipment, net	142	114	103	105	96
Capitalized software development costs, net	214	154	106	64	40
Right-of-use assets	201	216	251	319	281
Deferred commission expense, net of current portion	219	161	122	67	43
Other assets	166	115	75	59	29
Intangible assets, net	35	38	42	17	11
Goodwill	291	210	174	46	47
Total assets	3,854	3,796	3,071	2,545	2,175
Accounts payable	25	4	9	21	3
Accrued compensation costs	99	67	53	10	64
Accrued commissions	132	102	78	53	—
Accrued expenses and other current liabilities	167	125	94	95	74
Operating lease liabilities	40	33	35	36	26
Convertible senior notes	—	458	—	—	20
Deferred revenue	1,005	784	672	540	430
Total current liabilities	1,467	1,573	942	755	617
Operating lease liabilities, net of current portion	223	255	297	316	284
Deferred revenue, net of current portion	8	4	6	6	4
Other long-term liabilities	89	56	36	19	12
Total liabilities	1,788	1,888	1,737	1,550	1,301
Commitments and contingencies (Note 12)	—	—	—	—	—
Common stock, $0.001 par value - 500,000 shares authorized; 54,832 and 52,667 shares issued; 52,555 and 51,767 shares outstanding at December 31, 2025 and 2024, respectively	53,000	52,000	50,000	49,000	47,000
Treasury stock, $0.001 par value - 2,277 and 900 shares held at December 31, 2025 and December 31, 2024, respectively	2,000	—	—	—	—
Additional paid-in capital	2,815	2,714	2,137	1,647	1,436
Accumulated other comprehensive income (loss)	5	−6	2	−13	−1
Accumulated deficit	−754	−800	−804	−640	−561
Total stockholders equity	2,066	1,908	1,334	995	871
Total liabilities and stockholders equity	3,854	3,796	3,071	2,545	2,175

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income (loss)	46	5	−165	−107	−78
Depreciation and amortization	136	97	73	58	45
Stock-based compensation	528	505	432	276	167
Restructuring charges	—	—	67	0	0
Gain on strategic investments	−6	−21	0	−4	−12
Impairment of strategic investments	6	5	2	6	0
(Benefit from) provision for deferred income taxes	−2,000	3	550,000	−1	−3
Amortization of debt discount and issuance costs	577,000	2	2	2	24
Accretion of bond discount	−40	−52	−43	−9	4
Unrealized currency translation	−6	−2	−341,000	1	1
Accounts receivable	−64	−48	−58	−74	−34
Prepaid expenses and other assets	−34	−4	−47	−6	−1
Deferred commission expense	−117	−97	−81	−38	−33
Right-of-use assets	26	32	29	30	31
Accounts payable	19	−5	−14	18	−11
Accrued expenses and other current liabilities	118	89	80	26	58
Operating lease liabilities	−36	−42	−37	−21	−29
Deferred revenue	184	131	110	117	128
Net cash and cash equivalents provided by operating activities	761	599	351	273	239
Purchases of investments	−1,444	−1,994	−1,581	−1,508	−1,485
Maturities of investments	2,237	1,659	1,503	1,185	1,387
Sale of investments	—	2	0	125	0
Purchases of property and equipment	−53	−38	−34	−37	−29
Capitalization of software development costs	−131	−90	−66	−44	−33
Purchases of intangible assets	−274,000	−1	−164,000	−10	0
Business acquisitions, net of cash acquired	−88	−40	−142	0	−17
Proceeds from net working capital settlement	—	2	—	—	—
Proceeds from strategic investments	3	—	—	—	—
Purchases of strategic investments	−33	−16	−14	−30	−13
Net cash and cash equivalents provided by (used in) investing activities	492	−516	−335	−320	−180
Repayment of 2025 Convertible Notes	−460	−57,000	−13,000	−2	0
Employee taxes paid related to the net share settlement of stock-based awards	−22	−22	−11	−12	−17
Proceeds related to the issuance of common stock under stock plans	71	76	48	40	47
Repurchases of common stock	−500	—	—	—	—
Net cash and cash equivalents (used in) provided by financing activities	−910	53	37	7	−51
Effect on exchange rate changes on cash and cash equivalents	26	−12	5	−7	−9
Net increase in cash, cash equivalents and restricted cash	368	125	58	−46	−1
Cash paid for interest	422,000	2	2	2	2
Cash paid for income taxes	19	12	13	5	7
Right-of-use assets obtained in exchange for operating lease facilities	1	3	7	75	92
Right-of-use asset reductions related to operating lease terminations	—	—	−7	0	−47
Capital expenditures incurred but not yet paid	3	2	1	247,000	470,000
Settlement of Capped Call Options related to the 2025 Convertible Notes	51	—	—	—	—
Asset retirement obligations	—	—	−199,000	1	71,000

Filings

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