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Jun 30, 2020
HubSpot Q2 2020 Earnings Report
HubSpot's second quarter performance in 2020 showed revenue growth and customer base expansion amidst evolving market conditions.
Key Takeaways
HubSpot reported a 25% increase in total revenue to $203.6 million compared to Q2 2019. The company grew its total customer base to 86,672, a 34% increase year-over-year. While GAAP net loss was ($29.4) million, non-GAAP net income was $16.7 million.
Total revenue increased by 25% compared to Q2 2019, reaching $203.6 million.
Subscription revenue grew by 26% year-over-year, amounting to $196.4 million.
GAAP operating loss was ($13.6) million, while non-GAAP operating income was $19.2 million.
Total customers grew to 86,672, representing a 34% increase compared to the previous year.
HubSpot
HubSpot
HubSpot Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
HubSpot provided guidance for the third quarter and full year of 2020, factoring in the uncertainty caused by the COVID-19 pandemic. They expect total revenue to be in the range of $210.0 million to $211.0 million for Q3 2020 and $828.0 million to $832.0 million for the full year 2020.
Positive Outlook
- Total revenue is expected to be in the range of $210.0 million to $211.0 million for Q3 2020.
- Non-GAAP operating income is expected to be in the range of $7.5 million to $8.5 million for Q3 2020.
- Non-GAAP net income per common share is expected to be in the range of $0.11 to $0.13 for Q3 2020.
- Total revenue is expected to be in the range of $828.0 million to $832.0 million for the full year 2020.
- Non-GAAP operating income is expected to be in the range of $52.0 million to $54.0 million for the full year 2020.
Challenges Ahead
- Many customers and prospects are still operating under very challenging circumstances.
- Customers and prospects may re-evaluate their spend.
- Third quarter 2020 guidance factors in the heightened uncertainty caused by the COVID-19 pandemic.
- Full year 2020 guidance factors in the heightened uncertainty caused by the COVID-19 pandemic.
- Actual results may differ materially due to the impact of COVID-19 on the business and broader economy.