HubSpot, Inc. is a software company that provides a customer platform designed to help businesses grow by connecting with their customers. The company offers an integrated suite of AI-powered engagement hubs, a smart customer relationship management (CRM) system, and a connected ecosystem of tools and resources. HubSpot primarily targets mid-market business-to-business (B2B) companies, enabling them to attract, engage, and delight customers throughout the customer lifecycle.
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Subscription - Offers access to a comprehensive platform that includes engagement hubs such as Marketing Hub, Sales Hub, Service Hub, Operations Hub, CMS Hub, and Commerce Hub. These hubs integrate AI and customer data to provide tools for marketing, sales, customer service, and business operations.
- Marketing Hub - Provides tools for creating and managing marketing campaigns.
- Sales Hub - Focuses on sales automation and pipeline management.
- Service Hub - Delivers customer service solutions to improve customer satisfaction.
- Operations Hub - Streamlines business processes and data synchronization.
- CMS Hub - Enables website creation and content management.
- Commerce Hub - Facilitates e-commerce and payment solutions.
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Professional Services and Other - Includes onboarding, training, and consulting services to help customers implement and optimize their use of HubSpot's platform.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Dharmesh Shah ExecutiveBoard | Co-founder, Chief Technology Officer, and Director | None | Co-founded HubSpot in 2006 and has served as CTO since its inception. Key contributor to the development and scaling of HubSpot's technology platform. | |
Yamini Rangan ExecutiveBoard | Chief Executive Officer, President, and Director | None | Joined HubSpot in January 2020 as Chief Customer Officer, promoted to CEO in September 2021. Recognized for her operational expertise and customer-centric leadership. | View Report → |
Kate Bueker Executive | Chief Financial Officer | Board Member at Procore Technologies, Inc. | CFO since June 2018. Previously held senior financial roles at Akamai Technologies and investment banking positions at Blackstone, UBS, and others. | |
Andrew Anagnost Board | Director | President and CEO of Autodesk, Inc.; Board Member at Autodesk, Inc. | Joined HubSpot's Board in September 2023. Brings extensive experience in strategy, transformation, and product development, particularly in SaaS. | |
Brian Halligan Board | Co-founder and Executive Chairperson of the Board | Senior Lecturer at MIT; General Partner at Propeller Ventures; Senior Advisor at Sequoia Capital | Co-founded HubSpot in 2005, served as CEO until September 2021, and transitioned to Executive Chairperson. Played a pivotal role in scaling HubSpot into a leading CRM platform. | |
Claire Hughes Johnson Board | Director | Corporate Officer and Advisor at Stripe, Inc.; Board Member at Ameresco, Inc. and Aurora Innovation, Inc. | Joined HubSpot's Board in March 2022. Former COO of Stripe and senior leader at Google. Brings deep operational and leadership experience in scaling technology businesses. | |
Jay Simons Board | Director | General Partner at Bond Capital Management LP | Joined HubSpot's Board in January 2017. Former President of Atlassian, with expertise in scaling SaaS businesses and global expansion. | |
Jill Ward Board | Director | Board Member at Informatica Inc. and Dynatrace, Inc. (Chair since January 2021) | Member of HubSpot's Board since October 2017. Extensive experience in scaling technology companies and fostering strong customer and partner relationships. | |
Lorrie M. Norrington Board | Lead Independent Director | Operating Partner at Lead Edge Capital; Board Member at Autodesk, Inc., Colgate-Palmolive Company, Asana, Inc., and Ancestry | Member of HubSpot's Board since September 2013. Extensive experience in technology and software businesses, including senior roles at eBay and Intuit. | |
Nick Caldwell Board | Director | Chief Product Officer at Peloton Interactive, Inc. | Joined HubSpot's Board in January 2021. Currently oversees a 1000-person team at Peloton. Previously held leadership roles at Twitter, Reddit, and Microsoft. | |
Ron Gill Board | Director | Operating Partner at Lead Edge Capital; Board Member at Amplitude, Inc. | Member of HubSpot's Board since June 2012. Chair of the Audit Committee. Extensive financial leadership experience, including as former CFO of NetSuite. |
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Can you provide more details on the headwinds affecting your other upgrade motions, such as addition upgrades, cross-sells, and contact upgrades, and how you plan to address these challenges going forward?
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Average Subscription Revenue per Customer (ASRPC) declined by 2% year-over-year due to more customers starting at lower price points. How do you plan to drive ASRPC growth in the future, especially with the increased volume of starter and professional tier customers?
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With the acquisition of cash flow, how do you intend to leverage this asset to enhance your CommerceHub offering, and what potential integration challenges might you face in incorporating cash flow into your existing platform? ,
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Your operating margin expanded by over 200 basis points to 19% this quarter, partly due to a $7 million catch-up benefit related to R&D credits. Excluding this one-time benefit, how sustainable is this margin expansion, and what are your expectations for operating margins going forward?
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You mentioned that AI is a top priority investment area and that these investments are having a modest impact on cost of goods sold. Can you discuss how the increased investments in AI might affect your gross margins and profitability in the long term?
Research analysts who have asked questions during HUBSPOT earnings calls.
Bradley Sills
Bank of America
5 questions for HUBS
Gabriela Borges
Goldman Sachs
5 questions for HUBS
Mark Murphy
JPMorgan Chase & Co.
5 questions for HUBS
Samad Samana
Jefferies
5 questions for HUBS
Arjun Bhatia
William Blair
4 questions for HUBS
Brian Peterson
Raymond James Financial
4 questions for HUBS
Jackson Ader
KeyBanc Capital Markets
4 questions for HUBS
Keith Bachman
BMO Capital Markets
4 questions for HUBS
Michael Turrin
Wells Fargo
4 questions for HUBS
Aleksandr Zukin
Wolfe Research
3 questions for HUBS
Brent Bracelin
Piper Sandler Companies
3 questions for HUBS
Rishi Jaluria
RBC Capital Markets
3 questions for HUBS
S. Kirk Materne
Evercore ISI
3 questions for HUBS
Tyler Radke
Citigroup Inc.
3 questions for HUBS
Alex Zukin
Wolfe Research LLC
2 questions for HUBS
Brett Huff
Stephens Inc.
2 questions for HUBS
Elizabeth Elliott
Morgan Stanley
2 questions for HUBS
Elizabeth Porter
Morgan Stanley
2 questions for HUBS
Hoi-Fung Wong
Oppenheimer & Co. Inc.
2 questions for HUBS
Joshua Reilly
Needham & Company
2 questions for HUBS
J. Parker Lane
Stifel
2 questions for HUBS
Taylor McGinnis
UBS
2 questions for HUBS
David Hynes
Canaccord Genuity Group Inc.
1 question for HUBS
Nicholas Altmann
Scotiabank
1 question for HUBS
Ryan MacWilliams
Barclays
1 question for HUBS
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Frame Technology, Inc. (Frame AI) | 2025 | Frame AI was acquired for approximately $60.0 million in cash (subject to customary adjustments) to accelerate HubSpot’s unification of structured and unstructured data and enhance real-time customer insights, with integration benefits that support go-to-market teams. |
Cacheflow | 2024 | Cacheflow was acquired for approximately $65.0 million in cash (subject to adjustments) to expand HubSpot’s commerce capabilities by integrating subscription billing management and CPQ solutions, leveraging a high customer overlap to streamline quote-to-cash automation. |
Clearbit | 2023 | Clearbit was acquired for approximately $150 million in cash (subject to adjustments) to infuse HubSpot’s platform with enriched B2B data from over 20 million companies and 500 million decision-makers, thereby enhancing AI-powered go-to-market strategies while maintaining data privacy and governance standards. |
Recent press releases and 8-K filings for HUBS.
- The Account-Based Marketing (ABM) Market was valued at $1.22 billion in 2024 and is projected to grow to $3.74 billion by 2032, demonstrating a CAGR of 15.0% from 2025 to 2032.
- Market expansion is driven by the increased use of automation, predictive analytics, and AI-driven personalization in ABM platforms.
- HubSpot, Inc. is identified as a key player within the Account-Based Marketing market.
- In December 2024, HubSpot signed an agreement to acquire Frame AI, an AI-powered conversation intelligence platform, to strengthen its ABM support.
- North America held the largest market share at 40% in 2024, while the Asia Pacific region is anticipated to be the fastest-growing segment with an 18.65% CAGR from 2025-2032.
- On June 4, 2025, stockholders approved the Eighth Amended and Restated Certificate of Incorporation to declassify the board and eliminate supermajority voting provisions, reinforcing updated governance practices.
- The filing detailed proxy vote outcomes for multiple proposals, including the election of three directors and the ratification of PricewaterhouseCoopers LLP as the independent auditor for the fiscal year ending December 31, 2025.
- HubSpot’s virtual AGM on 06/04/2025 recorded a quorum with 49,627,056 shares represented and covered key proposals including the election of directors, auditor ratification, and executive compensation (documents ).
- Significant corporate governance changes were approved, such as declassifying the board, eliminating supermajority voting provisions, and adopting a nonbinding advisory proposal for a simple majority standard in voting requirements (documents ).
- Q1 Financial Performance: Delivered $714.1M total revenue with $698.7M in subscription revenue, a GAAP net loss of ($21.8M), non‑GAAP net income of $95.9M, and operating income of $100.3M ,.
- Guidance Update: Q2 revenue is expected between $738M–$740M with full‑year revenue in the $3,036M–$3,044M range, supported by improving margins ,.
- Strong Growth & Customer Expansion: Revenue grew 18% YoY in constant currency, with subscription revenue up 16% and total customers increasing 19% to over 258,000 .
- Robust Free Cash Flow: Generated $122M in free cash flow, underscoring solid cash generation capabilities ,.
- Strategic Share Buyback: The Board authorized its first-ever $500M share repurchase program, reflecting confidence in long‑term growth ,.
- AI Innovation: Advanced AI initiatives saw copilot user engagement double from 270,000 to over 660,000 and expanded use of AI agents across multiple hubs .
- Board Transition: Brian Halligan stepped down as Executive Chairperson, with Lorrie Harrington assuming the role of Chairperson .