NYSE : HUBS
HubSpot, Inc. — Financial statements
Technology · Software - Application · United States
Last price 239.57 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 11.95B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
HubSpot, Inc. (HUBS) reported revenue of 3.45B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 3.45B | 3.13B | 2.63B | 2.17B | 1.73B | 1.30B |
| Cost of Revenue | 577.79M | 508.49M | 393.26M | 338.36M | 308.02M | 258.86M |
| Gross Profit | 2.87B | 2.62B | 2.23B | 1.83B | 1.42B | 1.04B |
| Selling, General & Admin | 1.83B | 1.70B | 1.52B | 1.31B | 1.08B | 794.63M |
| Research & Development | 908.52M | 905.94M | 778.71M | 617.75M | 442.02M | 301.97M |
| Operating Expenses | 2.74B | 2.61B | 2.30B | 1.93B | 1.53B | 1.10B |
| Operating Income | 135.76M | 12.41M | -62.21M | -100.69M | -102.86M | -54.80M |
| Interest Expense | -645.00K | -876.00K | -3.72M | -3.80M | -3.76M | -30.28M |
| Interest & Investment Income | 49.66M | 66.22M | 82.71M | 58.83M | 15.00M | 1.17M |
| Currency Exchange Gain (Loss) | -2.96M | -2.83M | 1.35M | -2.97M | -5.17M | -1.65M |
| EBT Excluding Unusual Items | 181.81M | 74.92M | 18.13M | -48.63M | -96.79M | -85.56M |
| Merger & Restructuring Charges | -5.02M | -5.04M | -5.39M | -100.24M | ||
| Gain (Loss) on Sale of Investments | -3.14M | -423.00K | 15.94M | -1.70M | -1.66M | 11.74M |
| Pretax Income | 173.65M | 69.46M | 28.68M | -150.57M | -98.45M | -73.82M |
| Income Tax Expense | 26.80M | 23.55M | 24.05M | 13.94M | 8.89M | 4.02M |
| Net Income | 146.85M | 45.91M | 4.63M | -164.51M | -107.35M | -77.84M |
| Net Income to Common | 146.85M | 45.91M | 4.63M | -164.51M | -107.35M | -77.84M |
| Shares Outstanding (Basic) | 52.00M | 52.45M | 51.18M | 49.88M | 48.06M | 46.89M |
| Shares Outstanding (Diluted) | 52.76M | 53.19M | 51.82M | 49.88M | 48.06M | 46.89M |
| EPS (Basic) | 2.82 | 0.88 | 0.09 | -3.30 | -2.23 | -1.66 |
| EPS (Diluted) | 2.78 | 0.86 | 0.09 | -3.30 | -2.23 | -1.66 |
| Free Cash Flow | 797.50M | 707.55M | 560.66M | 317.25M | 235.75M | 210.00M |
| Free Cash Flow Per Share | 15.12 | 13.30 | 10.82 | 6.36 | 4.91 | 4.48 |
| Gross Margin | 83.25% | 83.76% | 85.03% | 84.41% | 82.20% | 80.10% |
| Operating Margin | 3.94% | 0.40% | -2.37% | -4.64% | -5.94% | -4.21% |
| Profit Margin | 4.26% | 1.47% | 0.18% | -7.58% | -6.20% | -5.98% |
| Free Cash Flow Margin | 23.12% | 22.60% | 21.34% | 14.62% | 13.62% | 16.15% |
| EBITDA | 156.66M | 30.81M | -39.68M | -73.81M | -76.71M | -32.64M |
| EBITDA Margin | 4.54% | 0.98% | -1.51% | -3.40% | -4.43% | -2.51% |
| D&A For EBITDA | 20.91M | 18.39M | 22.53M | 26.87M | 26.15M | 22.16M |
| EBIT | 135.76M | 12.41M | -62.21M | -100.69M | -102.86M | -54.80M |
| EBIT Margin | 3.94% | 0.40% | -2.37% | -4.64% | -5.94% | -4.21% |
| Effective Tax Rate | 15.43% | 33.91% | 83.86% | |||
| Revenue as Reported | 3.45B | 3.13B | 2.63B | 2.17B | 1.73B | 1.30B |
| Advertising Expenses | 144.30M | 117.80M | 105.30M | 59.40M | 37.30M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 958.31M | 882.24M | 512.67M | 387.99M | 331.02M | 377.01M |
| Short-Term Investments | 379.63M | 821.55M | 1.56B | 1.00B | 1.08B | 820.96M |
| Cash & Short-Term Investments | 1.34B | 1.70B | 2.07B | 1.39B | 1.41B | 1.20B |
| Receivables | 378.36M | 419.15M | 334.83M | 295.30M | 226.85M | 157.36M |
| Prepaid Expenses | 161.23M | 100.37M | 80.59M | 88.68M | 44.07M | 38.39M |
| Other Current Assets | 249.97M | 226.42M | 148.69M | 99.33M | 70.99M | 59.85M |
| Total Current Assets | 2.13B | 2.45B | 2.63B | 1.87B | 1.75B | 1.45B |
| Property, Plant & Equipment | 342.68M | 342.69M | 330.39M | 354.40M | 424.53M | 376.96M |
| Long-Term Investments | 179.82M | 259.73M | 247.75M | 374.70M | 156.39M | 174.90M |
| Goodwill | 319.39M | 291.45M | 209.51M | 173.76M | 46.23M | 47.08M |
| Other Intangible Assets | 262.19M | 249.02M | 192.05M | 148.54M | 81.24M | 50.42M |
| Long-Term Deferred Charges | 230.56M | 218.99M | 160.81M | 122.19M | 66.56M | 42.68M |
| Other Long-Term Assets | 42.27M | 42.54M | 21.71M | 26.25M | 15.20M | 29.24M |
| Total Assets | 3.50B | 3.85B | 3.80B | 3.07B | 2.54B | 2.17B |
| Accounts Payable | 25.98M | 24.76M | 3.65M | 9.11M | 20.88M | 2.77M |
| Accrued Expenses | 414.97M | 391.78M | 287.64M | 221.21M | 161.97M | 135.79M |
| Current Portion of Long-Term Debt | 458.18M | 19.63M | ||||
| Current Portion of Leases | 38.09M | 39.70M | 32.69M | 35.05M | 35.93M | 26.36M |
| Current Unearned Revenue | 1.06B | 1.01B | 790.65M | 676.65M | 542.87M | 432.91M |
| Other Current Liabilities | 746.00K | 381.00K | 584.00K | |||
| Total Current Liabilities | 1.54B | 1.47B | 1.57B | 942.01M | 761.65M | 617.47M |
| Long-Term Debt | 456.21M | 454.23M | 383.10M | |||
| Long-Term Leases | 198.82M | 222.60M | 254.54M | 296.56M | 316.18M | 283.87M |
| Long-Term Unearned Revenue | 6.38M | 8.49M | 3.97M | 5.81M | 5.90M | 4.47M |
| Other Long-Term Liabilities | 98.83M | 89.34M | 55.64M | 36.46M | 14.55M | 12.13M |
| Total Liabilities | 1.85B | 1.79B | 1.89B | 1.74B | 1.55B | 1.30B |
| Common Stock | 50.00K | 53.00K | 52.00K | 50.00K | 49.00K | 47.00K |
| Additional Paid-In Capital | 2.33B | 2.81B | 2.71B | 2.14B | 1.65B | 1.44B |
| Retained Earnings | -678.01M | -753.90M | -799.81M | -804.44M | -642.38M | -561.00M |
| Comprehensive Income & Other | 171.00K | 5.25M | -5.65M | 1.83M | -12.89M | -1.34M |
| Shareholders' Equity | 1.66B | 2.07B | 1.91B | 1.33B | 992.22M | 873.80M |
| Total Liabilities & Equity | 3.50B | 3.85B | 3.80B | 3.07B | 2.54B | 2.17B |
| Total Debt | 236.91M | 262.31M | 745.42M | 787.81M | 806.34M | 712.97M |
| Net Cash (Debt) | 1.10B | 1.44B | 1.32B | 600.42M | 606.35M | 485.01M |
| Net Cash Per Share | 20.87 | 27.10 | 25.55 | 12.04 | 12.62 | 10.34 |
| Filing Date Shares Outstanding | 49.87M | 52.74M | 52.15M | 50.67M | 49.39M | 47.57M |
| Total Common Shares Outstanding | 49.66M | 52.55M | 51.77M | 50.45M | 49.22M | 47.39M |
| Working Capital | 583.85M | 982.26M | 1.06B | 929.53M | 992.95M | 836.10M |
| Book Value Per Share | 33.36 | 39.32 | 36.86 | 26.45 | 20.16 | 18.44 |
| Tangible Book Value | 1.08B | 1.53B | 1.51B | 1.01B | 864.76M | 776.30M |
| Tangible Book Value Per Share | 21.65 | 29.03 | 29.11 | 20.06 | 17.57 | 16.38 |
| Machinery | 90.17M | 87.17M | 74.26M | 87.08M | 85.34M | 67.93M |
| Construction In Progress | 11.58M | 5.58M | 1.61M | 1.70M | 4.14M | |
| Leasehold Improvements | 129.45M | 124.07M | 112.76M | 112.71M | 98.43M | 90.07M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 146.85M | 45.91M | 4.63M | -164.51M | -107.35M | -77.84M |
| Depreciation & Amortization | 20.91M | 18.39M | 22.53M | 26.87M | 26.15M | 22.16M |
| Other Amortization | 138.24M | 118.48M | 76.31M | 47.79M | 34.01M | 46.51M |
| Loss (Gain) From Sale of Assets | 6.47M | |||||
| Asset Writedown & Restructuring Costs | 67.26M | |||||
| Loss (Gain) From Sale of Investments | -23.21M | -40.05M | -67.61M | -41.20M | -7.46M | -7.47M |
| Stock-Based Compensation | 514.71M | 528.15M | 504.77M | 432.27M | 275.85M | 166.76M |
| Other Operating Activities | -1.97M | -5.69M | 1.14M | 209.00K | -275.00K | -27.38M |
| Change in Accounts Receivable | -60.10M | -64.00M | -48.43M | -57.62M | -73.98M | -34.11M |
| Change in Accounts Payable | 13.42M | 19.00M | -4.58M | -14.03M | 18.28M | -10.61M |
| Change in Unearned Revenue | 179.44M | 183.88M | 131.04M | 109.93M | 116.97M | 127.72M |
| Change in Other Net Operating Assets | -71.94M | -43.35M | -21.20M | -55.99M | -9.02M | 26.51M |
| Operating Cash Flow | 856.37M | 760.72M | 598.60M | 350.97M | 273.17M | 238.73M |
| Capital Expenditures | -58.87M | -53.16M | -37.94M | -33.72M | -37.43M | -28.73M |
| Cash Acquisitions | -45.22M | -87.61M | -40.44M | -142.13M | -16.81M | |
| Sale (Purchase) of Intangibles | -139.60M | -130.90M | -90.87M | -66.54M | -54.34M | -33.14M |
| Investment in Securities | 835.12M | 763.44M | -348.55M | -92.38M | -227.89M | -100.83M |
| Other Investing Activities | 1.93M | |||||
| Investing Cash Flow | 591.43M | 491.77M | -515.86M | -334.77M | -319.66M | -179.51M |
| Long-Term Debt Repaid | -459.81M | -57.00K | -13.00K | -81.43M | -89.53M | |
| Net Debt Issued (Repaid) | -459.81M | -57.00K | -13.00K | -81.43M | -89.53M | |
| Issuance of Common Stock | 55.97M | 71.39M | 75.50M | 47.74M | 39.93M | 46.51M |
| Repurchase of Common Stock | -1.13B | -521.59M | -21.95M | -10.71M | -11.53M | -17.44M |
| Other Financing Activities | -2.62M | 60.45M | 8.98M | |||
| Financing Cash Flow | -1.08B | -910.01M | 53.49M | 37.01M | 7.43M | -51.47M |
| Foreign Exchange Rate Adjustments | -12.95M | 25.74M | -11.55M | 4.65M | -6.81M | -8.86M |
| Net Cash Flow | 357.12M | 368.23M | 124.68M | 57.87M | -45.87M | -1.11M |
| Free Cash Flow | 797.50M | 707.55M | 560.66M | 317.25M | 235.75M | 210.00M |
| Free Cash Flow Margin | 23.12% | 22.60% | 21.34% | 14.62% | 13.62% | 16.15% |
| Free Cash Flow Per Share | 15.12 | 13.30 | 10.82 | 6.36 | 4.91 | 4.48 |
| Levered Free Cash Flow | 666.65M | 651.59M | 528.36M | 382.21M | 245.53M | 234.35M |
| Unlevered Free Cash Flow | 666.81M | 651.56M | 528.67M | 382.60M | 245.87M | 229.77M |
| Cash Interest Paid | 219.00K | 422.00K | 1.72M | 1.72M | 1.75M | 1.84M |
| Cash Income Tax Paid | 23.24M | 19.31M | 12.19M | 12.91M | 4.68M | 6.97M |
| Change in Working Capital | 60.82M | 95.52M | 56.84M | -17.72M | 52.24M | 109.51M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 11.71B | 21.02B | 35.97B | 29.22B | 14.04B | 31.14B |
| Enterprise Value | 10.61B | 19.81B | 34.79B | 28.41B | 13.50B | 30.69B |
| Last Close Price | 401.30 | 696.77 | 580.54 | 289.13 | 659.15 | |
| PE Ratio | 83.97 | 457.89 | 7,772.20 | |||
| Forward PE | 15.45 | 36.20 | 79.08 | 90.45 | 105.25 | 297.65 |
| PS Ratio | 3.40 | 6.71 | 13.69 | 13.46 | 8.11 | 23.95 |
| PB Ratio | 7.04 | 10.17 | 18.85 | 21.90 | 14.15 | 35.64 |
| P/TBV Ratio | 10.89 | 13.78 | 23.87 | 28.87 | 16.24 | 40.12 |
| P/FCF Ratio | 14.69 | 29.71 | 64.16 | 92.10 | 59.58 | 148.31 |
| P/OCF Ratio | 13.68 | 27.64 | 60.09 | 83.25 | 51.41 | 130.46 |
| PEG Ratio | 0.51 | 1.59 | 3.07 | 2.94 | 3.95 | 11.10 |
| EV/Sales Ratio | 3.08 | 6.33 | 13.24 | 13.09 | 7.80 | 23.59 |
| EV/EBITDA Ratio | 67.73 | 642.92 | ||||
| EV/EBIT Ratio | 78.16 | 1,595.52 | ||||
| EV/FCF Ratio | 13.31 | 28.00 | 62.05 | 89.55 | 57.25 | 146.14 |
| Debt / Equity Ratio | 0.14 | 0.13 | 0.39 | 0.59 | 0.81 | 0.82 |
| Debt / EBITDA Ratio | 1.20 | 3.68 | 71.94 | |||
| Debt / FCF Ratio | 0.30 | 0.37 | 1.33 | 2.48 | 3.42 | 3.40 |
| Net Debt / Equity Ratio | -0.67 | -0.70 | -0.69 | -0.45 | -0.61 | -0.56 |
| Net Debt / EBITDA Ratio | -7.03 | -46.79 | 33.37 | 8.13 | 7.90 | 14.86 |
| Net Debt / FCF Ratio | -1.38 | -2.04 | -2.36 | -1.89 | -2.57 | -2.31 |
| Asset Turnover | 0.96 | 0.82 | 0.77 | 0.77 | 0.73 | 0.63 |
| Quick Ratio | 1.11 | 1.45 | 1.53 | 1.79 | 2.15 | 2.19 |
| Current Ratio | 1.38 | 1.67 | 1.67 | 1.99 | 2.30 | 2.35 |
| Return on Equity (ROE) | 7.89% | 2.31% | 0.29% | -14.14% | -11.51% | -9.51% |
| Return on Assets (ROA) | 2.36% | 0.20% | -1.13% | -2.24% | -2.72% | -1.65% |
| Return on Invested Capital (ROIC) | 20.71% | 1.36% | -1.52% | -17.98% | -26.56% | -15.91% |
| Return on Capital Employed (ROCE) | 6.90% | 0.50% | -2.80% | -4.70% | -5.80% | -3.50% |
| Earnings Yield | 1.19% | 0.22% | 0.01% | -0.56% | -0.76% | -0.25% |
| FCF Yield | 6.81% | 3.37% | 1.56% | 1.09% | 1.68% | 0.67% |
| Buyback Yield / Dilution | -1.53% | -2.65% | -3.89% | -3.77% | -2.50% | -4.77% |