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Mar 31, 2021
HubSpot Q1 2021 Earnings Report
HubSpot's first quarter results for 2021 showed significant revenue growth and customer acquisition.
Key Takeaways
HubSpot's Q1 2021 earnings revealed a 41% increase in total revenue, reaching $281.4 million. The company grew its customer base by 45% year-over-year, totaling 113,925 customers. While GAAP operating loss was ($15.0) million, non-GAAP operating income was $18.9 million. Free cash flow was $61.2 million.
Total revenue increased by 41% compared to Q1 2020, reaching $281.4 million.
Subscription revenue grew by 41% to $270.3 million.
Total customers grew by 45% year-over-year, reaching 113,925.
Free cash flow was $61.2 million, compared to $7.1 million during Q1 2020.
HubSpot
HubSpot
HubSpot Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
HubSpot provided guidance for Q2 2021 and full year 2021. For Q2 2021, total revenue is expected to be in the range of $293 million to $297 million, and non-GAAP operating income is expected to be in the range of $19 million to $21 million. For the full year 2021, total revenue is expected to be in the range of $1,237 million to $1,247 million, and non-GAAP operating income is expected to be in the range of $104 million to $106 million.
Positive Outlook
- Total revenue is expected to be in the range of $293 million to $297 million for Q2 2021.
- Non-GAAP operating income is expected to be in the range of $19 million to $21 million for Q2 2021.
- Non-GAAP net income per common share is expected to be in the range of $0.30 to $0.32 for Q2 2021.
- Total revenue is expected to be in the range of $1,237 million to $1,247 million for the full year 2021.
- Non-GAAP operating income is expected to be in the range of $104 million to $106 million for the full year 2021.
Challenges Ahead
- GAAP operating income range ($26,134)-($24,134) for Q2 2021
- GAAP net loss range ($33,453)-($32,203) for Q2 2021
- GAAP operating income range ($61,089)-($59,089) for full year 2021
- GAAP net loss range ($91,899)-($89,399) for full year 2021
- HubSpot’s estimates of stock-based compensation, amortization of acquired intangible assets, acquisition-related expenses, non-cash interest expense for amortization of debt discount and debt issuance costs, loss on early extinguishment of 2022 Convertible Notes, and income tax effects of non-GAAP items assume, among other things, the occurrence of no additional acquisitions, investments or restructurings, and no further revisions to stock-based compensation and related expenses.