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Mar 31, 2023
HubSpot Q1 2023 Earnings Report
HubSpot's Q1 2023 earnings were announced, demonstrating substantial revenue growth and customer base expansion.
Key Takeaways
HubSpot reported a strong Q1 2023 with total revenue reaching $501.6 million, a 27% increase compared to Q1 2022. The company grew its customer base to 177,298, and average subscription revenue per customer was $11,365. While GAAP operating loss was $44.8 million, non-GAAP operating income was $67.7 million. The company is also focusing on leveraging Generative AI to enhance its platform.
Total revenue increased by 27% year-over-year, reaching $501.6 million.
Subscription revenue grew by 27% to $489.7 million.
Customer base expanded to 177,298, a 23% increase from the previous year.
Non-GAAP operating income was $67.7 million, compared to $35.0 million in Q1 2022.
Revenue by Segment
Forward Guidance
HubSpot provided guidance for Q2 2023 and full year 2023. They expect Q2 revenue to be in the range of $503.0 million to $505.0 million and full year revenue to be in the range of $2.080 billion to $2.088 billion.
Positive Outlook
- Total revenue is expected to be in the range of $503.0 million to $505.0 million for Q2 2023.
- Non-GAAP operating income is expected to be in the range of $54.0 million to $56.0 million for Q2 2023.
- Non-GAAP net income per common share is expected to be in the range of $0.98 to $1.00 for Q2 2023.
- Total revenue is expected to be in the range of $2.080 billion to $2.088 billion for full year 2023.
- Non-GAAP operating income is expected to be in the range of $275.0 million to $279.0 million for full year 2023.
Challenges Ahead
- Unfavorable foreign exchange rates are expected to be a 1 point headwind to second quarter 2023 revenue growth.
- GAAP operating income range ($145,152)-($147,152) for Q2 2023.
- GAAP net loss range ($144,791)-($147,541) for Q2 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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