HUBSPOT INC Segments Disclosure
11. Segment Information and Geographic Data
The Company provides a customer platform that helps businesses connect and grow better. The Company generates revenue from subscriptions to its customer platform and related professional services and other revenue consisting mainly of customer on-boarding, training and consulting services and Payments.
The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the CODM, which is the Company’s , in deciding how to allocate resources and assess performance. The Company’s CODM evaluates the Company’s financial information and resources and assesses the performance of these resources on a consolidated basis. There is no expense or asset information supplemental to those disclosed in these consolidated financial statements that is regularly provided to the CODM. The allocation of resources and assessment of performance of the operating segment is based on consolidated net income (loss) as shown in the consolidated statements of operations. The CODM considers net income (loss) in the annual forecasting process and reviews actual results when making decisions about allocating resources. Since the Company operates as one operating segment, financial segment information, including profit or loss and asset information, can be found in the consolidated financial statements.
Geographic information
Revenue and long-lived assets by geographic region, based on the physical location of the operations recording the revenue or the long-lived assets, respectively, are as follows:
Revenues by geographic region:
|
|
Year Ended December 31, |
|
|||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
|
|
(In thousands) |
|
|||||||||
Americas |
|
$ |
1,872,171 |
|
|
$ |
1,588,886 |
|
|
$ |
1,321,568 |
|
Europe |
|
|
1,010,968 |
|
|
|
825,598 |
|
|
|
668,263 |
|
Asia Pacific |
|
|
248,127 |
|
|
|
213,059 |
|
|
|
180,399 |
|
Total |
|
$ |
3,131,266 |
|
|
$ |
2,627,543 |
|
|
$ |
2,170,230 |
|
Percentage of revenues generated outside of the Americas |
|
|
40 |
% |
|
|
40 |
% |
|
|
39 |
% |
Revenue derived from customers outside the United States (international) was approximately 48% of total revenue in 2025, and 47% of total revenue in 2024 and 2023. Revenues of Americas attributed to the United States were 96%, 95%, and 96% of in the years ended December 31, 2025, 2024 and 2023. Revenues of Europe attributed to Ireland were 50%, 47%, and 54% in the years ended December 31, 2025, 2024 and 2023.
Total long-lived assets by geographic region:
|
|
As of December 31, 2025 |
|
|
As of December 31, 2024 |
|
||
|
|
(In thousands) |
|
|||||
Americas |
|
$ |
238,095 |
|
|
$ |
231,984 |
|
Europe |
|
|
95,798 |
|
|
|
93,288 |
|
Asia Pacific |
|
|
8,797 |
|
|
|
5,123 |
|
Total long lived assets |
|
$ |
342,690 |
|
|
$ |
330,395 |
|
Percentage of long lived assets held outside of the |
|
|
31 |
% |
|
|
30 |
% |
Long-lived assets of Americas attributed to the United States were 97% as of December 31, 2025 and 2024. Long-lived assets of Europe attributed to Ireland were 82% and 80% as of December 31, 2025 and 2024.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 11, 2026 | Showing above |
| 2024 | Feb 12, 2025 | |
| 2023 | Feb 14, 2024 | |
| 2022 | Feb 16, 2023 | |
| 2021 | Feb 14, 2022 | |
| 2020 | Feb 16, 2021 | |
| 2019 | Feb 12, 2020 | |
| 2018 | Feb 12, 2019 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.