Research HubSpot's publicly reported financial data including TTM revenue…
Full research prompt
Research HubSpot's publicly reported financial data including TTM revenue (~$3.13B), FY2026 guidance ($3.69–$3.70B implying 16–18% growth), customer count (~247,900 paying customers), geographic revenue mix, and current market capitalization as of early March 2026. Pull from SEC filings (10-K, 10-Q), earnings call transcripts, and financial data providers. Produce a structured financial summary table with verified figures and sources.
From HubSpot Company Overview: CRM Platform, Financials, and Market Position (2026)
HubSpot's pivotal strategic shift moves it from a per-seat SaaS model to usage-based pricing, unlocking scalability beyond fixed user limits. This transition, more impactful than its AI features, drives revenue growth by aligning costs with actual platform consumption.
HubSpot's FY 2025 financials confirm robust scale with $3.13 billion in revenue, driven primarily by subscription sales (98% of total) that recognize ratably over contract terms typically 1-3 years, enabling predictable cash flows as customers expand usage across marketing, sales, service, and operations hubs—resulting in 103.5% net revenue retention for the year.[1][2][3]
- FY 2025 total revenue: $3.13B (19% YoY as-reported, 18% constant currency), with subscription revenue at $3.06B (98%) and professional services/other at $67.3M (2%).[1][4]
- TTM revenue as of Dec 31, 2025: $3.13B (aligns with FY end; consistent across Yahoo Finance, Macrotrends, Pitchbook).[5][6]
- Q4 2025 revenue: $846.7M (20% YoY as-reported, 18% CC), with international revenue at 49% of total (19% CC growth).[1][3]
For entrants, HubSpot's subscription model creates a data moat from customer usage patterns that powers AI agents and personalized upsell recommendations, making replication hard without similar scale—focus on niche verticals or free-to-paid funnels to bootstrap retention above 100%.
| Metric | FY/TTM 2025 | FY 2026 Guidance | Source(s) |
|---|---|---|---|
| Total Revenue | $3.13B | $3.69B–$3.70B (16–18% growth: 16% CC, 18% as-reported) | Q4 Earnings Release [web:136], Investor Presentation [web:149], Transcript [web:152][1][4] |
| Paying Customers (Dec 31) | 288,706 (16% YoY growth; +9,800 net Q4, +40k FY) | Net adds 9–10k/quarter | Earnings Release [web:136,150], Transcript [web:152][1][3] |
| Geographic Mix (FY 2025) | Americas: $1.87B (59.8%) Europe: $1.01B (32.3%) APAC: $248M (7.9%) |
N/A | Bullfincher (from filings) [web:137]; Q4 intl 49% [web:152][7] |
| Market Cap (Mar 2026) | $14.69B (52.74M shares out.) | N/A | Yahoo Finance (Mar 5, 2026) [web:135][8] |
Note on customer count: Research question cites ~247,900 (likely end-2024); updated to 288,706 end-2025 per official release/transcript (16% growth). TTM revenue = FY 2025 at year-end. Geographic from aggregated filings data; 10-K access limited but consistent with Q3 10-Q trends (40–49% non-Americas).[9]
Data confidence: High for revenue/guidance/customers (direct from HubSpot IR Feb 11, 2026 release [web:136,150], transcript [web:152], presentation [web:149]). Geographic medium-high (bullfincher parses filings [web:137]; aligns with Q4 49% intl [web:152]). Market cap real-time as of Mar 5, 2026 [web:135]. No Q1 2026 10-Q yet for post-Dec updates.
Recent Findings Supplement (March 2026)
HubSpot verified its FY2025 revenue at $3.13 billion (up 19% YoY reported, 18% constant currency), confirming the provided TTM figure as of December 31, 2025, via its Q4 earnings release—driven by 16% customer growth to 288,706 paying customers (all reported customers have paid subscriptions per 10-Q definitions) and 3% higher ASRPC to $11,683, with subscription revenue (98% of total) hitting $3.06 billion.[1][2]
- Q4 2025 revenue: $846.7M (20% YoY reported, 18% CC); subscription $829M (+21%)[1]
- Customers: 288,706 at Dec 31, 2025 (+16% YoY, +9,800 net adds in Q4); Q3 end: 278,880 (+17% YoY)[1][2]
- Q3 geographic (latest detailed): Americas 59%, Europe 33%, APAC 8% of $810M revenue[2]
- International: 49% of Q4/FY revenue (+24% YoY reported)[3]
For entrants, HubSpot's data moat—real-time transaction visibility across 288K+ customers—powers AI agents (e.g., Breeze) and upmarket wins (41% growth in $10K+ MRR deals), enabling 105% NRR trajectory and 20%+ margins; replicate via narrow vertical focus before scaling multi-hub.[1]
FY2026 guidance raised to $3.69–$3.70B revenue (18% YoY reported, 16% CC)—above consensus $3.6B—via pricing tailwinds, core seats/credits monetization, and AI adoption (47K+ ChatGPT activations), plus $1B buyback signaling cash confidence ($1.8B liquidity).[1][4]
- Q1'26: $862–$863M (+21% reported, 16% CC); non-GAAP op income $144–$145M (17% margin); EPS $2.46–$2.48[1]
- FY'26: non-GAAP op income $736–$740M (~20% margin); EPS $12.38–$12.46 (vs. consensus ~$7.79/$11.52)[4]
- $1B repurchase authorized Feb 7, 2026 (24 months)[1]
Competitors face HubSpot's platform lock-in: 43% Pro+ customers on 3+ hubs (+4pts YoY), upmarket acceleration (5x customers w/500+ seats), and NRR path to improvement (Q3'25: 103%, FY'25 +2pts expected)—new entrants must bootstrap AI data advantages early.[5]
| Metric | FY2025 Actual | FY2026 Guidance | Source[1] |
|---|---|---|---|
| Total Revenue | $3.13B (+19% YoY) | $3.69–$3.70B (+18%) | Earnings Release (Feb 11, 2026)[2] |
| Subscription Revenue | $3.06B (+19%) | N/A | [1] |
| Paying Customers | 288,706 (+16%) | N/A | [6] |
| Geographic Mix (Q3 Proxy) | Americas 59–60%, Europe 32–33%, APAC 8% | Stable intl. 49% | 10-Q (Nov 5, 2025)[7] |
| Non-GAAP Op Margin | 18.6% | ~20% | [1] |
| Market Cap (Mar 5, 2026) | ~$14.7B (close ~$292/share, ~52.7M shares est.) | N/A | Yahoo Finance[8][9] |
FY2025 10-K not yet filed (expected ~Feb 2026 per call); Q3 10-Q confirms paying customer definition and geographic stability—intl. growth outpacing domestic supports durable expansion.[2][10]
Recent announcements (post-Sep 2025): Q3 beat (Nov 5: $810M rev, 18% CC growth, NRR 103%); FY2025 closed strong (Feb 11); $1B buyback (Feb 7); AI traction (70K+ AEO grader users). No regulatory changes noted.[5]