Companies /Technology

HubSpot Inc

NYSE: HUBS Software - Application
$255.83
â–² $18.75 (+7.91%) today
Markets closed · 10:07pm ET

Q1 2025 Earnings

Reported May 8, 2025, 4:15pm ET · SEC source
$1.78
Beat +0.96%
EPS · est. $1.76
$714.1M
Beat +1.96%
Revenue · est. $700.4M
−11.5%
Trailing market
HUBS vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−8%−4%0+4%May 8May 9report 4:15pm ETearnings−0.1%−6.8%
−8%−4%0+4%May 8May 9earnings−0.1%−6.8%
HUBS −6.8%S&P 500 −0.1%
−8%−4%0+4%May 8May 9report 4:15pm ETearnings−0.1%−6.8%
−8%−4%0+4%May 8May 9earnings−0.1%−6.8%
HUBS −6.8%NASDAQ −0.1%
−4%0+4%+8%May 7May 16report 4:15pm ETearnings+4.8%+6.6%
−4%0+4%+8%May 7May 16earnings+4.8%+6.6%
HUBS +6.6%S&P 500 +4.8%
−4%0+4%+8%May 7May 16report 4:15pm ETearnings+6.3%+6.6%
−4%0+4%+8%May 7May 16earnings+6.3%+6.6%
HUBS +6.6%NASDAQ +6.3%
−8.68%
Day of report
+9.88%
Next session
+9.57%
One week
−4.89%
30 days

S&P 500 over the same 30 days: +6.56%.

Did HUBS Beat Earnings? Q1 2025 Results

HubSpot opened 2025 on solid footing, delivering a first-quarter earnings beat across both top and bottom lines as its AI-first strategy continued to draw in customers at scale. The customer relationship management platform posted revenue of $714.14 million, up 15.7% year over year and ahead of the $700.40 million consensus, while adjusted EPS of $1.78 edged past the $1.76 estimate by 0.96%. The strongest signal of underlying demand came from calculated billings, which grew 20% as-reported to $766.80 million, reflecting healthy pipeline conversion even as the company expanded deeper into smaller businesses, a shift that pushed average subscription revenue per customer down 4% to $11,038. Customer count, meanwhile, climbed 19% to 258,258, underscoring broad platform adoption. Multi-hub uptake and deepening integration of AI tools, including the newly highlighted Customer Agent, were cited as key growth drivers. Looking ahead, HubSpot guided Q2 revenue of $738.00 to $740.00 million and raised confidence in its full-year target of $3.04 billion, implying continued 16% growth.

Key Takeaways
  • 16% total revenue growth on as-reported basis, 18% in constant currency
  • Customer base grew 19% YoY to 258,258 customers
  • Calculated billings grew 20% as-reported and 18% in constant currency to $766.8 million
  • Operating cash flow increased to $161.6 million from $127.1 million in Q1 2024

“We had a solid start to 2025, with continued revenue growth and customer expansion. We saw further proof that our AI-first strategy is working—customers are seeing results, and Customer Agent is a great example of the value we're delivering. As more companies consolidate their tech stacks, HubSpot is becoming the clear choice for businesses that want to drive AI innovation while reducing total cost of ownership. With our rapid pace of innovation, strong execution, and clear focus on value, we're well-positioned to drive durable, long-term growth.”

HubSpot CEO, on the earnings call

Forward Guidance & Outlook

For Q2 2025, HubSpot expects total revenue of $738.0–$740.0 million (up 16% YoY), non-GAAP operating income of $124.0–$125.0 million (17% margin), and non-GAAP EPS of $2.10–$2.12. For full year 2025, the company guides total revenue of $3.036–$3.044 billion (up 16% YoY), non-GAAP operating income of $558.0–$562.0 million (18% margin), and non-GAAP EPS of $9.29–$9.37.

HUBS YoY Financials

Q1 2025 vs Q1 2024 · SEC filings Q1 2024 Q1 2025
$0$300.0M$600.0M$617.4M$714.1MRevenue$522.3M$599.0MGross Profit$-33,627,019$-27,480,000Operating Income
$0$300.0M$600.0MRevenueGross ProfitOperating Income

HUBS Revenue by Segment

Subscription$698.7M+16.0%
Professional Services and Other$15.4M+13.0%

Figures from SEC filings and company reports. Not investment advice.