HubSpot, Inc. Earnings Recaps
Q1 2026
May 9, 2026
Shares dropped 16.1% after earnings as investors reacted negatively to cautious outlook signals and potential margin pressures, despite solid revenue growth and AI adoption metrics.
Key takeaways
- Revenue grew 18.2% year over year in constant currency, highlighting ongoing top-line expansion.
- Non-GAAP operating margin expanded by 4 points year over year to 17.8%, but market skepticism suggests concerns about sustaining profitability.
- Total customer count reached nearly 300,000, with 10,800 net additions in the quarter.
- Large deals ($60K+ ARR) grew 37% and those over $120K ARR grew 64% year over year, supporting upmarket momentum.
- AI-related usage metrics showed strong user adoption, with active core seat users up 90% year over year and credit consumption growing 67% quarter over quarter, yet investors appear wary of embedded risks in AI monetization ramp.
Q3 2025
Nov 6, 2025
HubSpot demonstrated robust growth in Q3 2025, with revenue increasing by 18.4% year-over-year to reach $810 million, driven by strong customer adoption and impactful AI innovations.
Key takeaways
- Operating margin improved to 20%, showcasing effective cost management alongside revenue growth.
- Total customer base expanded by 10,900, now totaling nearly 279,000, with multi-hub adoption increasing among both new and existing customers.
- Deals exceeding $5,000 in monthly recurring revenue grew 35% year-over-year, reflecting strong demand within the upmarket segment.
- Over 200 product updates were launched at the INBOUND conference, enhancing HubSpot’s AI capabilities and overall platform integration.
- Adoption of AI features resulted in notable customer performance improvements, such as over 50% higher lead conversion rates in Marketing Hub.