HUBSPOT (HUBS) Company Report

HubSpot concluded 2025 with strong financial results, reporting Q4 revenue growth of 18.2% year-over-year in constant currency and achieving $3.1 billion in full-year 2025 revenue. The non-GAAP operating margin was 22.6% in Q4 and 18.6% for the full year.
The company's Board of Directors authorized a $1 billion share repurchase program, reflecting confidence in its business and future growth opportunities.
For Q1 2026, HubSpot expects total as-reported revenue to be between $862-$863 million and non-GAAP diluted net income per share between $2.46-$2.48. Full-year 2026 guidance projects total as-reported revenue in the range of $3.69-$3.7 billion and non-GAAP diluted net income per share between $12.38-$12.46.
Key growth drivers include continued upmarket momentum, accelerated multi-hub adoption, and emerging AI levers such as Core Seat adoption and credits. Net revenue retention increased to 105% in Q4 2025 and is expected to grow by another one-two points in 2026.

Feb 11, 2026, 9:30 PM

Transcript

HubSpot Reports Strong Q4 and Full-Year 2025 Results, Authorizes $1 Billion Share Repurchase

HUBS

Earnings

Guidance Update

Share Buyback

HubSpot concluded 2025 with Q4 revenue growth of 18.2% year-over-year in constant currency, contributing to a full-year 2025 revenue of $3.1 billion. The company achieved a Q4 operating margin of 22.6% and expanded its customer base by adding 9,800 net new customers in Q4, reaching over 288,000 customers globally.
The Board of Directors authorized a new share repurchase program of up to $1 billion, reflecting confidence in the business and future growth prospects.
For full-year 2026, HubSpot anticipates total as-reported revenue to be in the range of $3.69-$3.7 billion, an 18% year-over-year increase. Non-GAAP diluted net income per share is projected to be between $12.38-$12.46, with free cash flow expected to be approximately $740 million.
The company's growth is driven by continued upmarket momentum, accelerated multi-hub adoption, and the positive impact of pricing changes. Significant traction in AI adoption was also noted, with over 8,000 customers activating Customer Agent and over 10,000 activating Prospecting Agent.

Feb 11, 2026, 9:30 PM

Transcript

HubSpot Reports Strong Q4 and Full-Year 2025 Results, Authorizes $1 Billion Share Repurchase, and Provides 2026 Guidance

HUBS

Earnings

Guidance Update

Share Buyback

HubSpot concluded Q4 2025 with revenue growth of 18.2% year-over-year in constant currency and a 22.6% operating margin, contributing to full-year 2025 revenue of $3.1 billion and an 18.6% operating margin.
The company expanded its customer base to over 288,000 globally, adding 9,800 net new customers in Q4. Net revenue retention increased sequentially to 105% in Q4 2025, with full-year 2025 NRR at 103.5%.
HubSpot's Board of Directors authorized a share repurchase program of up to $1 billion.
For full-year 2026, the company projects total as-reported revenue between $3.69-$3.7 billion and non-GAAP diluted net income per share between $12.38-$12.46, with expected free cash flow of approximately $740 million.
The company emphasized its AI strategy to drive growth, with AI agents gaining traction and becoming a core driver for customer growth.

Feb 11, 2026, 9:30 PM

Transcript

HubSpot Reports Q4 and Full Year 2025 Results, Provides 2026 Guidance

HUBS

Earnings

Guidance Update

New Projects/Investments

HubSpot reported Q4 2025 Total Revenue of $847 million and Operating Profit of $191 million, contributing to Full Year 2025 Total Revenue of $3,131 million and Operating Profit of $582 million.
For Q1 2026, the company provided guidance for Total Revenue between $862 million and $863 million and non-GAAP Net income per share between $2.46 and $2.48.
Full Year 2026 guidance includes Total Revenue between $3,690 million and $3,700 million, non-GAAP Net income per share between $12.38 and $12.46, and Free Cash Flow of $740 million.
Strategically, HubSpot is focused on building the Agentic Customer Platform, aiming to be the #1 platform for scaling companies by integrating hubs, agents, and comprehensive customer understanding.

Feb 11, 2026, 9:30 PM

Presentation

HubSpot Reports Strong Q4 and Full Year 2025 Results and Authorizes Share Repurchase Program

HUBS

Earnings

Guidance Update

Share Buyback

HubSpot reported Q4 2025 total revenue of $846.7 million, an increase of 20% compared to Q4 2024, and full year 2025 total revenue of $3.13 billion, up 19% from 2024.
For Q4 2025, GAAP net income was $54.4 million (or $1.04 per diluted share) and Non-GAAP net income was $162.5 million (or $3.09 per diluted share). Full year 2025 Non-GAAP net income was $516.0 million (or $9.70 per diluted share).
The company generated $247.4 million in cash from operating activities during Q4 2025 and $760.7 million for the full year 2025.
HubSpot provided Q1 2026 revenue guidance of $862.0 million to $863.0 million and full year 2026 revenue guidance of $3.69 billion to $3.70 billion. Non-GAAP diluted EPS guidance for Q1 2026 is $2.46 to $2.48 and for full year 2026 is $12.38 to $12.46.
On February 7, 2026, the Board of Directors authorized a $1.0 billion share repurchase program over a period of up to 24 months.

Feb 11, 2026, 9:10 PM

8-K

HubSpot Reports Strong Q4 and Full Year 2025 Results and Issues 2026 Guidance

HUBS

Earnings

Guidance Update

Share Buyback

HubSpot reported Q4 2025 total revenue of $846.7 million, a 20% increase year-over-year, and full year 2025 total revenue of $3.13 billion, up 19% from 2024.
For Q4 2025, GAAP net income was $54.4 million ($1.04 per basic and diluted share), and Non-GAAP net income was $162.5 million ($3.10 per basic share and $3.09 per diluted share).
The company generated $247.4 million in cash from operating activities during Q4 2025 and $760.7 million for the full year 2025.
HubSpot provided Q1 2026 total revenue guidance of $862.0 million to $863.0 million and full year 2026 total revenue guidance of $3.69 billion to $3.70 billion.
The Board of Directors authorized a new share repurchase program of up to $1.0 billion over a period of up to 24 months, effective February 7, 2026.

Feb 11, 2026, 9:05 PM

Press Release

HubSpot Discusses AI Strategy, Growth Levers, and Profitability Targets

HUBS

Product Launch

Revenue Acceleration/Inflection

Share Buyback

HubSpot's AI strategy focuses on embedding AI across its platform, delivering agents (Customer, Prospecting, Data), and introducing a Breeze Assistant to help small and medium businesses grow.
The company's monetization approach for AI is a hybrid model, combining seat-based pricing for embedded AI and Core Seats with usage-based credits for agents, with half of current credit consumption coming from the Customer Agent.
Key growth levers include strong multi-hub adoption, with over 90% of customers using multiple hubs, and a successful upmarket strategy targeting companies with 500 to 2,000 employees.
HubSpot has observed an improvement in Net New ARR since its low in Q1 2023, which is anticipated to drive future revenue growth, and expects tailwinds from 2024 pricing changes rolling through its installed base in 2025 and 2026.
The company aims for a medium-term 25% operating margin and has engaged in capital allocation through tuck-in M&A, such as Frame, Dashworks, and Cacheflow, and completed a $500 million share buyback.

Dec 10, 2025, 6:25 PM

Transcript

HubSpot Discusses AI Strategy, Growth Levers, and Financial Outlook

HUBS

Product Launch

New Projects/Investments

Share Buyback

HubSpot's AI strategy is threefold: embedding AI across its platform, delivering specialized agents (Customer, Prospecting, Data), and providing a Breeze Assistant, with a hybrid monetization model combining seat-based pricing and usage-based credits.
The company is experiencing strong multi-hub adoption and is successfully moving upmarket, targeting businesses with 500 to 2,000 employees through product enhancements, partner ecosystem alignment, and brand awareness.
HubSpot's Net New ARR has consistently improved since its low in Q1 2023, surpassing revenue in the second half of 2024, indicating strengthening underlying growth levers.
The company is committed to balanced growth and profitability, with operating margins increasing from 10% to over 18% this year and a medium-term target of 25%. Capital allocation includes tuck-in M&A and a recently completed $500 million share buyback.

Dec 10, 2025, 6:25 PM

Transcript

HubSpot Outlines AI Strategy, Growth Levers, and Financial Outlook

HUBS

Product Launch

Revenue Acceleration/Inflection

Share Buyback

HubSpot's AI strategy is focused on embedding AI across its platform, delivering specialized agents (Customer, Prospecting, Data), and providing a Breeze Assistant.
The company utilizes a hybrid monetization model for AI, combining seat-based pricing with usage-based credits, and prioritizes value delivery before monetization.
Key growth drivers include multi-hub adoption (with over 89% of customers using multiple hubs) and a strategic focus on the upmarket segment (customers with 500-2,000 employees).
HubSpot aims for a 25% operating margin in the medium term, having increased from 10% to nearly 18% this year, and completed a $500 million share buyback.
Net New ARR has shown consistent improvement since its low in Q1 2023, surpassing revenue in the second half of 2024, signaling future revenue growth acceleration.

Dec 10, 2025, 6:25 PM

Transcript

Outset Secures $30 Million Series B Funding

HUBS

New Projects/Investments

Revenue Acceleration/Inflection

Outset, an AI-moderated research platform, announced a $30 million Series B funding round on December 10, 2025, bringing its total funding to $51 million.
The funding was led by Radical Ventures, with participation from M12 (Microsoft’s Venture Fund), Y Combinator, Adverb Ventures, and 8VC.
This capital will be used to launch the world's first AI-native Customer Experience Management platform and accelerate revenue growth, global expansion, and the rollout of always-on discovery products.
Outset achieved 8x revenue growth in 2025 and serves leading brands including Microsoft, WeightWatchers, Nestlé, Uber, and HubSpot.

Dec 10, 2025, 4:55 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for HUBSPOT.

Q4 2025

Feb 11, 2026

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Q3 2025

Nov 5, 2025

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Q2 2025

Aug 6, 2025

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HUBSPOT (HUBS)

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