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Q1 26 EPS
$2.72
Q1 26 Revenue
$881.0M
BEAT +2.05%
Est. $863.3M
vs S&P Since Q1 26
-9.3%
TRAILING MARKET
HUBS -6.6% vs S&P +2.7%
Market Reaction
Did HUBS Beat Earnings? Q1 2026 Results
HubSpot kicked off fiscal 2026 with a decisive beat across the board, reporting first-quarter non-GAAP EPS of $2.72 against a consensus estimate of $2.47, a 10.23% upside that marked the company's fourth consecutive quarter of beating EPS expectation… Read more HubSpot kicked off fiscal 2026 with a decisive beat across the board, reporting first-quarter non-GAAP EPS of $2.72 against a consensus estimate of $2.47, a 10.23% upside that marked the company's fourth consecutive quarter of beating EPS expectations. Revenue of $881.00 million grew 23.4% year over year and topped the $863.34 million consensus by 2.05%, fueled by subscription revenue of $862.26 million and a 16% expansion in customer count to 299,458. The most telling driver behind the results was meaningful margin expansion, with non-GAAP operating margin widening to 17.8% from 14.0% a year ago, as disciplined cost management scaled alongside revenue growth. HubSpot also swung to GAAP profitability, posting net income of $32.55 million compared to a loss of $21.79 million in Q1 2025. Investor enthusiasm had been building ahead of the print, with the stock climbing roughly 7% in the days prior on upbeat analyst commentary around the company's AI roadmap. Management guided Q2 revenue of $897.00 to $898.00 million and full-year revenue of $3.70 to $3.71 billion, both at approximately 18% growth.
Key Takeaways
- • 23% total revenue growth (18% in constant currency)
- • Customer count grew 16% YoY to 299,458
- • Average subscription revenue per customer increased 6% to $11,722
- • Non-GAAP operating margin expanded to 17.8% from 14.0% in Q1 2025
- • Upmarket momentum and multi-hub adoption
- • Foreign currency tailwind contributing approximately 5 percentage points to as-reported growth
HUBS Forward Guidance & Outlook
For Q2 2026, HubSpot expects total revenue of $897.0–$898.0 million (up 18% YoY as reported, 16% constant currency), non-GAAP operating income of $173.0–$174.0 million (19% margin), and non-GAAP diluted EPS of $3.00–$3.02. For full year 2026, the company expects total revenue of $3.700–$3.708 billion (up 18% YoY as reported, 17% constant currency), non-GAAP operating income of $762.0–$766.0 million (21% margin), and non-GAAP diluted EPS of $13.04–$13.12.
HUBS YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
HUBS Revenue by Segment
With YoY comparisons, source: SEC Filings
“Q1 was a solid quarter of revenue growth, customer growth, and operating margin expansion. Scaling companies are increasingly choosing HubSpot as their agentic customer platform to drive AI innovation and reduce total cost of ownership, and that's reflected in our upmarket momentum and multi-hub adoption. The AI innovations we launched at Spring Spotlight, including Customer Agent, Prospecting Agent, and Data Agent, are delivering outcomes for customers and will strengthen our AI momentum.”
— Yamini Rangan, Q1 2026 Earnings Press Release
HUBS Earnings Trends
HUBS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
HUBS EPS Trend
Earnings per share: estimate vs actual
HUBS Revenue Trend
Quarterly revenue: estimate vs actual
HUBS Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $2.72 | — | $881.0M | +2.05% |
| Q4 25 BEAT FY | $2.99 | $3.09 | +3.34% | $846.7M | +2.00% |
| FY Full Year | $9.59 | $9.70 | +1.14% | $3.13B | +0.53% |
| Q3 25 BEAT | $2.59 | $2.66 | +2.86% | $809.5M | +2.88% |
| Q2 25 BEAT | $2.12 | $2.19 | +3.11% | $760.9M | +2.81% |
| Q1 25 BEAT | $1.76 | $1.78 | +0.96% | $714.1M | +1.96% |