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EX-99.1

2 hubs-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

HubSpot Reports Strong Q1 2026 Results

Q1'26 revenue grew 23% on an as-reported basis and 18% in constant currency compared to Q1'25

CAMBRIDGE, MA (May 7, 2026) — HubSpot, Inc. (NYSE: HUBS), the agentic customer platform for scaling businesses, announced today its financial results for the first quarter ended March 31, 2026.

Financial Highlights:

Revenue

● Total revenue was $881.0 million, up 23% on an as-reported basis and 18% in constant currency compared to Q1'25.

o Subscription revenue was $862.3 million, up 23% on an as-reported basis compared to Q1'25.

o Professional services and other revenue was $18.7 million, up 22% on an as-reported basis compared to Q1'25.

Operating Income (Loss)

● GAAP operating income was $27.9 million, compared to an operating loss of ($27.5) million in Q1'25.

● Non-GAAP operating income was $156.8 million, compared to $100.3 million in Q1'25.

● GAAP operating margin was 3.2%, compared to (3.8%) in Q1'25.

● Non-GAAP operating margin was 17.8%, compared to 14.0% in Q1'25.

Net Income (Loss)

● GAAP net income was $32.6 million, or $0.62 per basic and diluted share, compared to a net loss of ($21.8) million, or ($0.42) per basic and diluted share in Q1'25.

● Non-GAAP net income was $143.0 million, or $2.73 per basic and $2.72 per diluted share, compared to $95.9 million, or $1.84 per basic and $1.78 per diluted share in Q1'25.

● Weighted average basic and diluted shares outstanding for GAAP net income per share were 52.5 million and 52.6 million, respectively, compared to 52.2 million basic and diluted shares in Q1'25.

● Weighted average basic and diluted shares outstanding for non-GAAP net income per share were 52.5 million and 52.6 million respectively, compared to 52.2 million and 54.0 million, respectively in Q1'25.

Balance Sheet and Cash Flow

● The company’s cash and cash equivalents, short-term, and long-term investments balance was $1.8 billion as of March 31, 2026.

● During the first quarter, the company repurchased $211.0 million of its common stock. As of March 31, 2026, $789.0 million of the $1 billion repurchase program authorized by the Board of Directors remained available for future stock repurchases.

● During the first quarter, the company generated $198.8 million in operating cash flow, compared with $161.6 million in Q1'25.

● During the first quarter, the company generated $203.5 million of cash from non-GAAP operating cash flow and $153.7 million of non-GAAP free cash flow, compared to $166.1 million of cash from non-GAAP operating cash flow and $122.3 million of non-GAAP free cash flow during Q1'25.

Page | 1

Additional Recent Business Highlights

● Grew Customers to 299,458 as of March 31, 2026, up 16% from March 31, 2025.

● Average Subscription Revenue Per Customer was $11,722 during the first quarter of 2026, up 6% on an as-reported basis compared to Q1'25.

● Calculated billings were $912.3 million in the first quarter of 2026, up 19% on an as-reported basis and 17% in constant currency compared to Q1'25.

“Q1 was a solid quarter of revenue growth, customer growth, and operating margin expansion,” said Yamini Rangan, Chief Executive Officer at HubSpot. “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.”

Business Outlook Based on information available as of May 7, 2026, HubSpot is issuing guidance for the second quarter and full year of 2026 as indicated below.

Second Quarter 2026:

• Total revenue is expected to be in the range of $897.0 million to $898.0 million, up 18% year over year on an as-reported basis and 16% in constant currency.

• Non-GAAP operating income is expected to be in the range of $173.0 million to $174.0 million, representing a 19% operating income margin.

• Non-GAAP net income per common share is expected to be in the range of $3.00 to $3.02. This assumes approximately 51.2 million weighted average diluted shares outstanding.

Full Year 2026:

• Total revenue is expected to be in the range of $3.700 billion to $3.708 billion, up 18% year over year on an as-reported basis and 17% in constant currency.

• Non-GAAP operating income is expected to be in the range of $762.0 million to $766.0 million, representing a 21% operating income margin.

• Non-GAAP net income per common share is expected to be in the range of $13.04 to $13.12. This assumes approximately 51.8 million weighted average diluted shares outstanding.

For Use of Non-GAAP Financial Measures

In our earnings press releases, conference calls, slide presentations, and webcasts, we may use or discuss non-GAAP financial measures, as defined by Regu

8-K

0001404655false00014046552026-02-112026-02-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 11, 2026

HUBSPOT, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware

001-36680

20-2632791

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

Two Canal Park, Cambridge, Massachusetts

02141

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (888) 482-7768 Not Applicable (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, Par Value $0.001 per share

HUBS

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On February 11, 2026, HubSpot, Inc. (the “Company”) issued a press release announcing its financial results and other information for the quarter and year ended December 31, 2025. The full text of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference. The information under this Item 2.02, including Exhibit 99.1 attached hereto, is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d)

Exhibits

Exhibit No.

Description

99.1

Press Release of HubSpot, Inc. dated February 11, 2026 furnished herewith

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

HubSpot, Inc.

February 11, 2026

By:

/s/ Kate Bueker

Name: Kate Bueker

Title: Chief Financial Officer