HUBSPOT INC HUBS
We provide an agentic customer platform that helps marketing, sales, and customer service teams drive business growth. We deliver seamless connection for customer-facing teams with a unified platform that includes three layers: Artificial Intelligence ("AI")-powered agents and engagement hubs, a Smart customer relationship management product ("CRM"), and a connected ecosystem supporting the customer platform with a marketplace of integrations, templates, expert partners, a community network, and an academy of educational content.
Our AI-powered agents and engagement Hubs that enable companies to attract, engage, and delight customers throughout the customer lifecycle include Marketing, Sales, Service, Operations, Content and Commerce. The Smart CRM is the foundational context layer that combines customer data with AI to power the entire customer platform with unified customer profiles and tools to manage and govern your team and business processes.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.13B | $2.63B | $2.17B | $1.73B | $1.30B | $883.0M | $674.9M | $513.0M | $375.6M | $271.0M |
| Cost of revenue | $508.5M | $393.3M | $338.4M | $308.0M | $258.9M | $167.0M | $130.0M | $100.4M | $75.7M | $61.9M |
| Gross profit | $2.62B | $2.23B | $1.83B | $1.42B | $1.04B | $716.1M | $544.9M | $412.6M | $299.9M | $209.1M |
| R&D | $905.9M | $778.7M | $617.7M | $442.0M | $302.0M | $205.6M | $158.2M | $117.6M | $70.4M | $46.0M |
| SG&A | $326.0M | $300.3M | $249.6M | $197.7M | $144.9M | $109.2M | $93.0M | $75.8M | $56.8M | $45.1M |
| Total operating expenses | $2.62B | $2.30B | $2.03B | $1.53B | $1.10B | $766.9M | $591.9M | $460.9M | $340.0M | $253.8M |
| Operating income | $7.4M | -$67.6M | -$200.9M | -$102.9M | -$54.8M | -$50.8M | -$47.0M | -$48.3M | -$40.1M | -$44.7M |
| Interest expense | $876.0K | $3.7M | $3.8M | $3.8M | $30.3M | $37.0M | $22.8M | $21.4M | $13.2M | $265.0K |
| Pre-tax income | $69.5M | $28.7M | -$150.6M | -$98.5M | -$73.8M | -$80.8M | -$50.8M | -$62.0M | -$50.0M | -$45.0M |
| Income tax | $23.6M | $24.0M | $13.9M | $8.9M | $4.0M | $4.2M | $3.0M | $1.9M | $10.3M | $533.0K |
| Net income | $45.9M | $4.6M | -$176.3M | -$112.7M | -$77.8M | -$85.0M | -$53.7M | -$63.8M | -$39.7M | -$45.6M |
| EPS, basic | 0.88 | 0.09 | -3.30 | -2.23 | -1.66 | -1.90 | — | — | — | — |
| EPS, diluted | 0.86 | 0.09 | -3.30 | -2.23 | -1.66 | -1.90 | -1.28 | -1.66 | -1.08 | -1.29 |
| Shares, diluted (wtd. avg.) | $53.2M | $51.8M | $49.9M | $48.1M | $46.9M | $44.8M | $42.0M | $38.5M | $36.8M | $35.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $882.2M | $512.7M | $388.0M | $331.0M | $377.0M | $378.1M | $269.7M | $111.5M | $87.7M | $59.7M |
| Short-term investments | $821.6M | $1.56B | $1.00B | $1.08B | $821.0M | $873.1M | $691.8M | $480.8M | $416.7M | $54.6M |
| Receivables | $419.1M | $334.8M | $295.3M | $226.8M | $157.4M | $126.4M | $92.5M | $77.1M | $60.7M | $39.0M |
| Total current assets | $2.45B | $2.63B | $1.87B | $1.75B | $1.45B | $1.46B | $1.11B | $712.4M | $602.5M | $176.3M |
| Property, plant and equipment | $141.9M | $114.2M | $103.3M | $105.2M | $96.1M | $101.1M | $83.6M | $52.5M | $43.3M | $30.2M |
| Goodwill | $291.5M | $209.5M | $173.8M | $46.2M | $47.1M | $31.3M | $30.2M | $14.9M | $14.9M | $9.8M |
| Other intangibles | $35.2M | $37.6M | $42.3M | $17.4M | $10.6M | $10.3M | $11.8M | $4.9M | $6.3M | $16.0K |
| Total assets | $3.85B | $3.80B | $3.07B | $2.54B | $2.17B | $1.97B | $1.57B | $834.0M | $712.2M | $259.8M |
| Accounts payable | $24.8M | $3.6M | $9.1M | $20.9M | $2.8M | $13.5M | $12.8M | $7.8M | $4.7M | $4.3M |
| Total current liabilities | $1.47B | $1.57B | $942.0M | $754.5M | $617.5M | $445.5M | $322.5M | $237.0M | $178.3M | $127.4M |
| Total liabilities | $1.79B | $1.89B | $1.74B | $1.55B | $1.30B | $1.21B | $919.3M | $589.3M | $501.8M | $141.1M |
| Retained earnings | -$753.9M | -$799.8M | -$804.4M | -$639.9M | -$561.0M | -$483.2M | -$398.1M | -$344.4M | -$286.1M | -$245.9M |
| Total equity | $2.07B | $1.91B | $1.33B | $994.7M | $870.9M | $762.7M | $650.0M | $244.6M | $210.4M | $118.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $760.7M | $598.6M | $351.0M | $273.2M | $238.7M | $88.9M | $119.0M | $84.9M | $49.6M | $19.4M |
| Depreciation and amortisation | $136.3M | $96.8M | $72.7M | $58.1M | $45.2M | $37.1M | $28.8M | $23.4M | $15.8M | $11.2M |
| Stock-based compensation | $528.2M | $504.8M | $432.3M | $275.8M | $166.8M | $121.5M | $97.8M | $76.3M | $47.3M | $32.7M |
| Capital expenditure | $53.2M | $37.9M | $33.7M | $37.4M | $28.7M | $37.3M | $40.4M | $22.3M | $20.3M | $15.8M |
| Investing cash flow | $491.8M | -$515.9M | -$334.8M | -$319.7M | -$179.5M | -$215.6M | -$316.2M | -$71.2M | -$396.6M | -$22.8M |
| Financing cash flow | -$910.0M | $53.5M | $37.0M | $7.4M | -$51.5M | $222.5M | $359.3M | $12.8M | $376.8M | $8.5M |
| Buybacks | $500.0M | — | — | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-182210.
Others in SIC 7372
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|---|---|---|---|---|
| MSFT | MICROSOFT CORP | $3.71T | 27.8x | 17.8% |
| ORCL | ORACLE CORP | $457.36B | 27.2x | 17.3% |
| PLTR | Palantir Technologies Inc. | $418.36B | 276.7x | 56.2% |
| CRWD | CrowdStrike Holdings, Inc. | $218.20B | — | 21.7% |
| CRM | Salesforce, Inc. | $213.35B | 33.2x | 9.6% |
| SHOP | SHOPIFY INC. | $187.92B | 154.4x | 30.1% |
| NOW | ServiceNow, Inc. | $146.06B | 84.6x | 20.9% |
| SNOW | Snowflake Inc. | $118.96B | — | 29.2% |