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Jun 30, 2023
HubSpot Q2 2023 Earnings Report
HubSpot's financial performance demonstrated strong growth in revenue and customer base, with increased profitability on a non-GAAP basis.
Key Takeaways
HubSpot reported a 25% increase in total revenue to $529.1 million, driven by subscription revenue growth. The company's customer base grew by 23% year-over-year, reaching 184,924 customers. While GAAP operating margin was negative, non-GAAP operating margin improved to 14.0%.
Total revenue increased by 25% compared to Q2 2022, reaching $529.1 million.
Subscription revenue grew by 26% year-over-year, amounting to $517.7 million.
The customer base expanded to 184,924, a 23% increase from the previous year.
Non-GAAP operating margin improved to 14.0%, compared to 7.0% in Q2 2022.
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 2023, including revenue and non-GAAP operating income estimates.
Positive Outlook
- Total revenue for Q3 2023 is expected to be in the range of $532.0 million to $534.0 million.
- Favorable foreign exchange rates are expected to be a one to two point tailwind to third quarter 2023 revenue growth.
- Non-GAAP operating income for Q3 2023 is expected to be in the range of $67.0 million to $69.0 million.
- Total revenue for full year 2023 is expected to be in the range of $2.116 billion to $2.122 billion.
- Favorable foreign exchange rates are expected to be a 50 basis points tailwind to full year 2023 revenue growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income