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Mar 31, 2020
HubSpot Q1 2020 Earnings Report
HubSpot's Q1 2020 results were announced, revealing a revenue increase of 31% year-over-year, despite headwinds from the COVID-19 pandemic. The company is focusing on supporting customers and partners during the crisis, while also managing a leadership transition.
Key Takeaways
HubSpot reported a 31% increase in total revenue to $199.0 million for Q1 2020. Despite the impact of the COVID-19 pandemic, the company grew its customer base and saw increases in subscription and professional services revenue. However, GAAP operating and net losses were reported, while non-GAAP measures showed positive operating and net income.
Total revenue grew by 31% year-over-year to $199.0 million.
Subscription revenue increased by 33% year-over-year to $191.2 million.
The company grew total customers to 78,776, a 30% increase compared to the previous year.
GAAP net loss was ($17.7) million, or ($0.41) per share, while non-GAAP net income was $16.7 million, or $0.35 per diluted share.
Revenue by Segment
Forward Guidance
HubSpot provided guidance for the second quarter and full year 2020, factoring in the expected impact of the COVID-19 pandemic. Total revenue for Q2 2020 is expected to be in the range of $195.0 million to $196.0 million, and non-GAAP net income per common share is expected to be in the range of $0.23 to $0.25. For the full year 2020, total revenue is expected to be in the range of $800.0 million to $810.0 million, and non-GAAP net income per common share is expected to be in the range of $0.88 to $0.92.
Positive Outlook
- Total revenue is expected to be in the range of $195.0 million to $196.0 million for Q2 2020.
- Non-GAAP operating income is expected to be in the range of $10.5 million to $11.5 million for Q2 2020.
- Non-GAAP net income per common share is expected to be in the range of $0.23 to $0.25 for Q2 2020.
- Total revenue is expected to be in the range of $800.0 million to $810.0 million for the full year 2020.
- Non-GAAP net income per common share is expected to be in the range of $0.88 to $0.92 for the full year 2020.
Challenges Ahead
- Second quarter 2020 guidance and updated full year 2020 guidance factor in the expected impact of the global uncertainty caused by the COVID-19 pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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