HubSpot Inc. (HUBS) financial statements: income statement, balance sheet and cash flow
HubSpot Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), HubSpot Inc. reported revenue of $3.1B (+19.2% year on year) and net income of $45.9M (+892.0% year on year).
Income statement
HubSpot Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total revenue
$3.1B
$2.6B
$2.2B
$1.7B
Total cost of revenue
$508.5M
$393.3M
$345.5M
$314.3M
Gross profit
$2.6B
$2.2B
$1.8B
$1.4B
Research and development
$905.9M
$778.7M
$617.7M
$442.0M
Sales and marketing
$1.4B
$1.2B
$1.1B
$886.1M
General and administrative
$326.0M
$300.3M
$249.6M
$197.7M
Restructuring
$4.0M
$4.0M
$96.8M
—
Total operating expenses
$2.6B
$2.3B
$2.0B
$1.5B
Income (loss) from operations
$7.4M
($67.6M)
($208.1M)
($109.1M)
Interest income
$66.2M
$82.7M
$58.8M
$15.0M
Interest expense
($876.0K)
($3.7M)
($3.8M)
($3.8M)
Other (expense) income, net
($3.3M)
$17.3M
($4.7M)
($6.8M)
Total other income
$62.1M
$96.3M
$50.4M
$4.4M
Income (loss) before income tax expense
$69.5M
$28.7M
($157.7M)
($104.7M)
Income tax expense
($23.6M)
($24.0M)
($18.6M)
($8.1M)
Net income (loss)
$45.9M
$4.6M
($176.3M)
($112.7M)
Net income (loss) per share, basic
$0.88
$0.09
-$3.53
-$2.35
Net income (loss) per share, diluted
$0.86
$0.09
-$3.53
-$2.35
Weighted average common shares used in computing basic net income (loss) per share:
$52455000.00
$51178000.00
$49877000.00
$48065000.00
Weighted average common shares used in computing diluted net income (loss) per share:
$53194000.00
$51819000.00
$49877000.00
$48065000.00
HubSpot Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Total revenue
$911.7M
$881.0M
$809.5M
$760.9M
Total cost of revenues
$160.9M
$145.7M
$133.5M
$122.2M
Gross profit
$750.9M
$735.3M
$676.0M
$638.7M
Research and development
$225.8M
$234.2M
$227.7M
$237.3M
Sales and marketing
$397.7M
$386.4M
$355.3M
$339.9M
General and administrative
$82.9M
$85.6M
$80.7M
$85.0M
Restructuring
$1.1M
$1.1M
$1.0M
$1.1M
Total operating expenses
$707.5M
$707.4M
$664.8M
$663.3M
Income (loss) from operations
$43.3M
$27.9M
$11.2M
($24.6M)
Interest income
$9.4M
$12.9M
$14.3M
$18.3M
Interest expense
($395.0K)
($245.0K)
($4.0K)
($227.0K)
Other (expense) income, net
($2.8M)
($1.3M)
($2.3M)
$1.1M
Total other income
$6.2M
$11.4M
$11.9M
$19.2M
Income (loss) before income tax expense
$49.6M
$39.3M
$23.1M
($5.5M)
Income tax (expense) benefit
($6.2M)
($6.7M)
($6.6M)
$2.2M
Net income (loss)
$43.3M
$32.6M
$16.5M
($3.3M)
Net income (loss) per share, basic
$0.86
$0.62
$0.31
-$0.06
Net income (loss) per share, diluted
$0.86
$0.62
$0.31
-$0.06
Weighted average common shares used in computing basic net income (loss) per share:
$50569000.00
$52490000.00
$52507000.00
$52696000.00
Weighted average common shares used in computing diluted net income (loss) per share
$50615000.00
$52578000.00
$52671000.00
$52696000.00
Balance sheet
HubSpot Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$882.2M
$512.7M
$388.0M
$331.0M
Short-term investments
$821.6M
$1.6B
$1.0B
$1.1B
Accounts receivable - net of allowance for credit losses of $6,825 and $6,088 at December 31, 2025 and 2024, respectively
$419.1M
$334.8M
$295.3M
$226.8M
Deferred commission expense
$226.2M
$148.7M
$99.3M
$71.0M
Prepaid expenses and other current assets
$100.6M
$80.6M
$88.7M
$44.1M
Total current assets
$2.4B
$2.6B
$1.9B
$1.8B
Long-term investments
$136.7M
$154.2M
$325.7M
$112.8M
Property and equipment, net
$141.9M
$114.2M
$103.3M
$105.2M
Capitalized software development costs, net
$213.8M
$154.5M
$106.2M
$63.8M
Right-of-use assets
$200.8M
$216.2M
$251.1M
$319.3M
Deferred commission expense, net of current portion
$219.0M
$160.8M
$122.2M
$66.6M
Other assets
$165.6M
$115.3M
$75.2M
$58.8M
Intangible assets, net
$35.2M
$37.6M
$42.3M
$17.4M
Goodwill
$291.5M
$209.5M
$173.8M
$46.2M
Total assets
$3.9B
$3.8B
$3.1B
$2.5B
Accounts payable
$24.8M
$3.6M
$9.1M
$20.9M
Accrued compensation costs
$99.2M
$67.4M
$53.5M
$62.8M
Accrued commissions
$132.0M
$102.0M
$78.2M
—
Accrued expenses and other current liabilities
$166.9M
$125.1M
$108.3M
$102.1M
Operating lease liabilities
$39.7M
$32.7M
$35.0M
$35.9M
Deferred revenue
$1.0B
$784.3M
$672.1M
$539.9M
Total current liabilities
$1.5B
$1.6B
$956.2M
$761.7M
Operating lease liabilities, net of current portion
$222.6M
$254.5M
$296.6M
$316.2M
Deferred revenue, net of current portion
$8.5M
$4.0M
$5.8M
$5.9M
Other long-term liabilities
$89.3M
$55.6M
$36.5M
$14.5M
Total liabilities
$1.8B
$1.9B
$1.8B
$1.6B
Common stock, $0.001 par value - 500,000 shares authorized; 54,832 and 52,667 shares issued; 52,555 and 51,767 shares outstanding at December 31, 2025 and 2024, respectively
53.0K
52.0K
50.0K
49.0K
Treasury stock, $0.001 par value - 2,277 and 900 shares held at December 31, 2025 and December 31, 2024, respectively
2.0K
—
—
—
Additional paid-in capital
$2.8B
$2.7B
$2.1B
$1.6B
Accumulated other comprehensive income (loss)
$5.2M
($5.7M)
$1.8M
($12.9M)
Accumulated deficit
($753.9M)
($799.8M)
($818.7M)
($642.4M)
Total stockholders’ equity
$2.1B
$1.9B
$1.3B
$992.2M
Total liabilities and stockholders’ equity
$3.9B
$3.8B
$3.1B
$2.5B
HubSpot Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$958.3M
$943.9M
$614.4M
$601.2M
Short-term investments
$379.6M
$747.1M
$871.5M
$1.1B
Accounts receivable - net of allowance for doubtful accounts of $7,285 at June 30, 2026, and $6,825 at December 31, 2025
$378.4M
$354.9M
$314.5M
$321.1M
Deferred commission expense
$249.3M
$239.2M
$203.8M
$189.3M
Prepaid expenses and other current assets
$161.9M
$156.5M
$110.1M
$129.6M
Total current assets
$2.1B
$2.4B
$2.1B
$2.3B
Long-term investments
$45.3M
$87.5M
$172.2M
$191.3M
Property and equipment, net
$157.1M
$149.9M
$137.4M
$132.3M
Capitalized software development costs, net
$232.8M
$221.5M
$206.7M
$191.1M
Right-of-use assets
$185.6M
$192.3M
$207.2M
$213.7M
Deferred commission expense, net of current portion
$230.6M
$225.3M
$196.3M
$187.8M
Other assets
$176.8M
$178.2M
$156.5M
$143.6M
Intangible assets, net
$29.4M
$32.5M
$36.9M
$40.0M
Goodwill
$319.4M
$300.3M
$274.8M
$274.7M
Total assets
$3.5B
$3.8B
$3.5B
$3.7B
Accounts payable
$26.0M
$53.4M
$24.9M
$12.5M
Accrued compensation costs
$106.0M
$107.9M
$106.5M
$96.6M
Accrued commissions
$122.4M
$117.8M
$109.6M
$98.9M
Accrued expenses and other current liabilities
$194.7M
$163.8M
$154.2M
$152.9M
Operating lease liabilities
$38.1M
$37.1M
$38.7M
$37.7M
Deferred revenue
$1.1B
$1.0B
$882.1M
$888.3M
Total current liabilities
$1.5B
$1.5B
$1.3B
$1.3B
Operating lease liabilities, net of current portion
$198.8M
$210.2M
$233.2M
$242.9M
Deferred revenue, net of current portion
$6.4M
$7.1M
$6.7M
$6.0M
Other long-term liabilities
$98.8M
$97.5M
$90.6M
$83.2M
Total liabilities
$1.8B
$1.8B
$1.6B
$1.6B
Common stock, $0.001 par value - 500,000 shares authorized; 55,402 and 54,832 shares issued; 49,658 and 52,555 shares outstanding at June 30, 2026, and December 31, 2025, respectively
50.0K
52.0K
52.0K
53.0K
Treasury stock, $0.001 par value - 5,744 and 2,277 shares held at June 30, 2026, and December 31, 2025, respectively
6.0K
3.0K
2.0K
1.0K
Additional paid-in capital
$2.3B
$2.7B
$2.7B
$2.9B
Accumulated other comprehensive income
$165.0K
$1.8M
$5.8M
$5.4M
Accumulated deficit
($678.0M)
($721.3M)
($808.3M)
($824.9M)
Total stockholders’ equity
$1.7B
$2.0B
$1.9B
$2.1B
Total liabilities and stockholders’ equity
$3.5B
$3.8B
$3.5B
$3.7B
Cash flow statement
HubSpot Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income (loss)
$45.9M
$4.6M
($176.3M)
($112.7M)
Depreciation and amortization
$136.3M
$96.8M
$72.7M
$58.1M
Stock-based compensation
$528.2M
$504.8M
$432.3M
$275.8M
Gain on strategic investments
($5.5M)
($21.2M)
$0
($4.2M)
Impairment of strategic investments
$5.9M
$5.3M
$1.7M
$5.9M
(Benefit from) provision for deferred income taxes
($2.0K)
$2.7M
$5.2M
($2.1M)
Amortization of debt discount and issuance costs
$577.0K
$2.0M
$2.0M
$2.0M
Accretion of bond discount
($40.5M)
($51.7M)
($42.9M)
($9.1M)
Unrealized currency translation
($5.7M)
($1.6M)
($341.0K)
$1.0M
Accounts receivable
($64.0M)
($48.4M)
($57.6M)
($74.0M)
Prepaid expenses and other assets
($34.1M)
($4.4M)
($47.0M)
($6.0M)
Deferred commission expense
($117.0M)
($96.7M)
($81.2M)
($37.6M)
Right-of-use assets
$25.9M
$32.3M
$29.2M
$29.5M
Accounts payable
$19.0M
($4.6M)
($14.0M)
$18.3M
Accrued expenses and other current liabilities
$118.0M
$89.1M
$87.1M
$32.4M
Operating lease liabilities
($36.1M)
($41.5M)
($36.9M)
($21.1M)
Deferred revenue
$183.9M
$131.0M
$109.9M
$117.0M
Net cash and cash equivalents provided by operating activities
$760.7M
$598.6M
$351.0M
$273.2M
Purchases of investments
($1.4B)
($2.0B)
($1.6B)
($1.5B)
Maturities of investments
$2.2B
$1.7B
$1.5B
$1.2B
Purchases of property and equipment
($53.2M)
($37.9M)
($33.7M)
($37.4M)
Capitalization of software development costs
($130.6M)
($89.6M)
($66.4M)
($44.3M)
Purchases of intangible assets
($274.0K)
($1.2M)
($164.0K)
($10.0M)
Business acquisitions, net of cash acquired
($87.6M)
($40.4M)
($142.1M)
—
Proceeds from strategic investments
$2.7M
—
—
—
Purchases of strategic investments
($32.7M)
($15.5M)
($12.4M)
($26.4M)
Net cash and cash equivalents provided by (used in) investing activities
$491.8M
($515.9M)
($334.8M)
($319.7M)
Repayment of 2025 Convertible Notes
($459.8M)
($57.0K)
($13.0K)
($1.6M)
Employee taxes paid related to the net share settlement of stock-based awards
($21.6M)
($21.9M)
($10.7M)
($11.5M)
Proceeds related to the issuance of common stock under stock plans
71.4M
75.5M
47.7M
39.9M
Repurchases of common stock
($500.0M)
—
—
—
Net cash and cash equivalents (used in) provided by financing activities
($910.0M)
$53.5M
$37.0M
$7.4M
Effect on exchange rate changes on cash and cash equivalents
$25.7M
($11.6M)
$4.6M
($6.8M)
Net increase in cash, cash equivalents and restricted cash
$368.2M
$124.7M
$57.9M
($45.9M)
Cash, cash equivalents and restricted cash, beginning of year
$516.7M
$392.0M
$334.2M
$380.0M
Cash, cash equivalents and restricted cash, end of year
$884.9M
$516.7M
$392.0M
$334.2M
Cash paid for interest
$422.0K
$1.7M
$1.7M
$1.7M
Cash paid for income taxes
$19.3M
$12.2M
$12.9M
$4.7M
Right-of-use assets obtained in exchange for operating lease facilities
$1.3M
$2.6M
$7.1M
$75.0M
Capital expenditures incurred but not yet paid
$3.4M
$1.7M
$1.1M
$247.0K
Settlement of Capped Call Options related to the 2025 Convertible Notes
$50.6M
—
—
—
HubSpot Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income (loss)
$75.9M
$32.6M
($8.5M)
($25.1M)
Depreciation and amortization
$84.6M
$40.2M
$97.7M
$62.0M
Stock-based compensation
$244.2M
$115.7M
$395.8M
$257.7M
Gain on strategic investments
($569.0K)
($747.0K)
($2.0M)
($1.9M)
Impairment of strategic investments
$3.0M
$913.0K
$3.7M
$1.6M
Benefit from deferred income taxes
($1.9M)
($73.0K)
($270.0K)
($214.0K)
Amortization of debt discount and issuance costs
$243.0K
$97.0K
$577.0K
$577.0K
Accretion of bond discount
($10.3M)
($6.8M)
($33.4M)
($24.4M)
Unrealized currency translation
$2.6M
$2.5M
($1.8M)
($2.8M)
Accounts receivable
$33.9M
$58.4M
$35.8M
$30.0M
Prepaid expenses and other assets
($57.8M)
($60.5M)
($37.2M)
($50.1M)
Deferred commission expense
($38.1M)
($22.1M)
($73.2M)
($49.6M)
Right-of-use assets
$13.9M
$7.4M
$19.3M
$12.8M
Accounts payable
$3.5M
$31.3M
$20.1M
$9.1M
Accrued expenses and other liabilities
$32.7M
($24.7M)
$61.6M
$59.9M
Operating lease liabilities
($23.9M)
($13.9M)
($26.3M)
($17.7M)
Deferred revenue
$59.5M
$38.4M
$61.4M
$63.9M
Net cash and cash equivalents provided by operating activities
$421.6M
$198.8M
$513.3M
$325.9M
Purchases of investments
($358.7M)
($358.7M)
($1.2B)
($830.2M)
Maturities of investments
$900.8M
$487.7M
$1.9B
$1.3B
Purchases of property and equipment
($35.1M)
($15.4M)
($39.7M)
($29.4M)
Purchases of strategic investments
($13.9M)
($5.8M)
($27.7M)
($18.8M)
Purchases of intangible assets
($527.0K)
($527.0K)
($279.0K)
($256.0K)
Capitalization of software development costs
($74.3M)
($34.3M)
($100.4M)
($65.9M)
Business acquisitions, net of cash acquired
($27.4M)
($8.3M)
($71.5M)
($69.8M)
Net cash and cash equivalents provided by investing activities
$390.8M
$64.6M
$461.4M
$291.2M
Employee taxes paid related to the net share settlement of stock-based awards
($5.4M)
($3.2M)
($18.2M)
($13.8M)
Payment of debt issuance costs
($2.6M)
($2.6M)
—
—
Proceeds related to the issuance of common stock under stock plans
23.2M
16.3M
62.7M
38.7M
Repurchases of common stock
($742.9M)
($206.7M)
($485.3M)
($125.0M)
Net cash and cash equivalents used in financing activities
($727.7M)
($196.2M)
($900.5M)
($560.0M)
Effect of exchange rate changes on cash, cash equivalents and restricted cash
($8.7M)
($5.5M)
$26.2M
$30.0M
Net increase in cash, cash equivalents and restricted cash
$76.1M
$61.7M
$100.3M
$87.2M
Cash, cash equivalents and restricted cash, beginning of period
$884.9M
$884.9M
$516.7M
$516.7M
Cash, cash equivalents and restricted cash, end of period
$961.0M
$946.6M
$617.1M
$603.9M
Cash paid for income taxes
$14.6M
$9.2M
$14.6M
$10.6M
Cash paid for interest
$219.0K
—
$422.0K
$422.0K
Excise tax liability accrued for common stock repurchased